@gage stdon I wish I was high so I could enjoy this video more than I do now. I'm just poor and can't afford much😔. However that (braindead) guy is just an ignorant daft fool
It's 4 am and I have an exam in the afternoon and let me tell you, I have terrible attention span, I don't recall being able to listen to a full lecture without zoning out in the past four and a haf years (I'm a post-grad student), but this 90 minutes lecture went by like a breeze. I was sleepy before I started watching but that flew away in minutes after he started talking. Absolutely beautiful.
The fact you people find this discourse convincing is both hilarious and tragic. FREEDOM's the word! Absolutely nothing in a capitalist system impedes the creation of a worker's enterprise, but no one is interested! Fundamentally, communism is about resentment and envy; not fairness.
This guy is a joke, not a “thinker” he’s just rambling the same thing others have rambled over and over with the same results. The very definition of insanity.
@@leopolddb9955 seems like you two made up your minds already and choose to maintain the beliefs you already had without opening any possibility for change, out of pure ego. we naturally hate it when an idea we've identified with for so long is proven to be flawed. the smart people get over that and listen to opposing viewpoints, to take in new information.
If you want to believe in fairytale, lol. He must be shocked that people believe this bullshit. The debates he has with intelligent people he always ends up looking so stupid, Yaron Brook or Gene Epstein are 2 staight off the bat. He really should not do them and only preach to the sheep who can't think for themselves
@Kurt Wilkinson I didn’t knew that you are an expert of people’s intelligences? Btw, are you familiar with using modalities to make inductive arguments look like deductive arguments to fool people into believing that what is being said is a good argument. I’m sure you didn’t. Lastly, Yaron Brook is not an economist by education but an entrepreneur. Nice try!
wow. this is probably the most amazing lecture i've ever seen in my life. i was gripping the desk in the last 10 minutes. made me want to drop everything and study economics. fantastic presentation, analysis, rhetoric, crescendo, pretty much everything about this is perfection.
"pretty much everything about this is perfection" EXCEPT Mr. Wolff is holding back valuable information that can improve your financial future...… .. Instead leading you on a pleasant diversion. the S&P 500 has gone up 2-1/2 times since 2012 Wolff in an economist he knows better. His niche is selling Marxist BS to people who Don't know better.
Jesus Christ, you’re a blithering idiot if yo I think this shit is ground breaking. It’s the same ol socialist trope. Co-ops ARE NOT SOCIALISM, Socialism doesn’t work as a system. Period. No where has it worked, and before anyone gives me the “no true Scotsman” line of NOT REAL SOCIALISM. It most certainly is real socialism. Problem is, the shit doesn’t work
Five thumbs up for this presentation. Prof. Wolff is one of the few academicians who's not afraid to expose the inherent flaws of the American capitalist economic system. How refreshing it is to hear the truth for once.
@@PathfinderHistoryTravel People who lived under feudalism were also enjoying the highest standard of living in their history as well, yet we found a way to improve on it. Improvement does not signify finality or the best possible option. You point *only* sinks because it can't hold water. Capitalism brought about great things like rapid industrialization and an efficient model to measure the worth of labor, for example. However, to imply that we should ignore and not address glaring, ruinous flaws like an infinite growth model for a finite system, class subjugation, or wage theft being integral to capitalism is shortsighted. Much like with feudalism, if we can improve, we should. Good to see someone who disagrees out here trying to engage with new ideas. Hope that gives you a stronger perspective to engage with them!
@@WiggidyWack Thanks for the thoughtful reply. Wolff suggests everything would be better if all businesses were co-ops. How does he expect that to happen? Does he also want a centrally planned economy like a command economy? Does he want to eliminate private property? What would he do to people who oppose his ideas? These are the questions for Marxists. But they don’t talk about them. Because historically their ides only can be implemented by force and violence. Wolff spends most of his time stirring dissatisfaction and envy. He’s working towards the overthrow of capitalism. If it happens it will be a tragedy of epic proportions. Please read Thomas Sowell’s book Basic Economics. And let me know what you think.
@@PathfinderHistoryTravel No problem on being thoughtful. Socialism requires organization from an understanding of mutual interest. You're venturing into both unfamiliar and what must feel like oppositional territory, so there's going to be tension but also opportunity to reveal that mutual interest. You're more than worthy of thoughtfulness. I can't honestly elaborate on what Wolff's personal beliefs on the methodology of how to best implement socialist/communist structure both economically and socially. There's a wide variety of theory on how best to achieve it, and plenty of disagreement and debate among socialist circles as well. This lecture is more of a basic and simplified means to lay out key critiques of capitalism and list basic examples through historically observed working solutions to replace it. Co-ops exist today, even in the US, so he uses this as an example of a working solution. Maybe see if you could email him and ask about different communist histories and theories on solving issues like property, opposition, or different approaches to economic structures from a Marxist perspective. He might get back to you, never know. Just be thoughtful and genuine like you are now. It also must be stated that Wolff accurately points out throughout history people have fought over the implementation of markets, regardless of the market structure in question. However, that does not mean that these conflicts in ideology always come about through force and violence. There are plenty of examples in history of peaceful revolutions (such as the Carnation Revolution) in which the implementation of these ideas, as well as the fall of the previous status quo, came about through an incredibly peaceful transition of power. Marxists do actually address these matters in an underlying principle: Conditions determine both outcome and solution. As for violent conflict and the use of force itself, all ideologies have a theory of violence. This includes capitalism, which has committed countless historical examples of brutal subjugation, some of which occurred within your lifetime. I think what you should really be asking is why it's okay in your mind if Capitalists utilize force and violence for their ideals, but it's not okay when theoretically Marxists could do the same. Sowell's overall concept of economics was influenced heavily through Milton Friedman, whos economic and social theories I reject outright as a socialist. Are there specific points in the book you find fascinating and want to share to hear a Marxist perspective on? Be more than happy to give you that kind of hands on demo if it would help you understand this side of thinking better. Answered the best I could. Hope it helps.
@@WiggidyWack In the United States our constitution is set up so changes in direction big or small are conducted by our elected officials. They can be replaced pretty quickly if most voters don’t like what’s happening. Violence has no place in our politics and should be denounced. Violence in this case is only a tool used by those who want to impose their will on the majority. I don’t often use the term capitalism. I’m merely stating the fact that a decentralized market/price driven economy utilizes limited resources and promotes innovation and productivity better than any way of organizing economic activity humans have ever come up with. It is the reason the human race is thriving with 7 billion people with enough food and shelter to survive. Life expectancy, infant mortality, education, civil rights, standard of living and any other metric you can think of has never been better. The ideas Adam Smith, Hayek, Friedman and Sowell spell out in their writings are the reason why. Not the purveyor of dissatisfaction and envy Marx. There is no reason for a revolution violent or otherwise. We also must align expectations with reality. Marxism doesn’t align with reality because it diminishes the motivation to innovate and produce by taking away the economic incentive. Equality of outcomes is impossible because people are diverse in abilities, interests and energies. There will always be the poor but thankfully market economies and world trade have lifted billions out of poverty in our lifetime. The poor in America live better that the rich 100 years ago. Centrally planned economies (command economies) and eliminating private property have been tried and don’t work. This is fact based on historical evidence. So we need to elect people who protect private property, enforce contracts and limit the size and influence of government. Corporations don’t create gulags, governments do. The reason Wolff and other communists are at a disadvantage is because they are factually wrong. Every company can organize as a co-op but you can’t force them to. Please stop promoting bad ideas. Thanks.
It reminds me of being in school and learning how slavery “ended” and share cropping became a thing. They always rename and rework things but the power structure remains largely the same no matter the changes. The highest rewards go to those that do the least.
You're a bad ass and your lectures are much appreciated by this misfit millennial living in Texas. Don't retire without knowing you made a difference. Intelligence, coupled with passion for the subject he's teaching that makes it blindingly obvious that you have fined tuned, wizardly lecture skills.✌🏻
I was writing a thought that came to me while I was high watching this but now that I'm getting sober I see how it doesn't make sense because the capitalists can compensate for an inexistent Left just by fabricating a replacement, hell the environmental initiatives and charities etc are run by the rich so of course it would never work. But anyway, maybe there's something of value in what I was writing in this last half hour, so hope you don't mind that I post it as a reply to you instead of in the main thread. So here it is: I think there's an important overlooked sort of subconscious frame that affects virtually everyone (that isn't rich) - even though we're unaware, and I include myself here and everyone that I know - which is that we "the people" continue going about our consumerist little lives rather than rebel against the system because we know that there's a Left. And that this Left, these opposition parties, are buffering capitalism as much as possible - to the extent that greed can be buffered - and therefore keeping the "balance"... We all know what would happen if everyone was as politically informed as Prof Wolff: we would actually gather together democratically to arrive at the big decisions that concern everyone. So it makes sense that the resistance has been trying to educate everyone as much as possible, although we know... we know we can't reach most of those brainwashed people, too busy making TikTok videos. Too busy trying to be the next steroid-filled Hollywood star or the next Jeff Bezos. So we talk about reaching "critical mass" because enough people must be educated and quite frankly PISSED! about what's going on, yet we struggle everyday to try to undo the damages of capitalism. The Left gives the example by opposing the austerities and injustices that capitalism brings about, but in so doing it provides a counter-balancing force for it to lean on. These two action plans - educating as much as we can & opposing as much as we can - raise a question in my mind. Question: what if enough people are educated and thus we no longer need to oppose (because, as we've seen, opposing comes at the cost of counter-balancing)? Crazy notion right? but what if, after a certain threshold of education, any more opposition is actually a *hindrance* to the development of the better economic system? Now imagine what would happen if we stepped out. What if the Left - all the Lefts, all the non-profits, all the environmental organisations, ALL of the anti-capitalists - decided "It's time. We're enough already. Technology is at a point today that we can all communicate and get organised, and we've had it with serving as a buffer that helps keep the public's trust in the system." And so all the anti-capitalists and everyone that sees that capitalism might not be the best we can do would unite under the premise of "a chance to sit down and actually DISCUSS our economic system, as equals". And step number 1 of this plan is, drop out of the political establishment, stop saving the whales, stop fundraising for Africa. Seriously, stop it all. Come together and do it. Do it loudly, make sure the world gets the message that until we don't sit down with the big shots to discuss our collective way forward, none of that is coming back. Make it a national holiday. October 15, the day mankind lost all hope. A grand strike, directed not at bosses, but at the babies that suck on the pacifier called The Left. Us. Yes, YOU and ME and probably almost all the people you know, all of us that hold the cognitive dissonance of both caring for the planet and leading a life of pollution and of directly sponsoring environmental destruction just by living. All of us that wake up every morning torn between the urge to try to save this society and the urge to make the most of it #bestlifeever as if we're playing generational russian roulette before the collapse of our culture, postponing the responsibility of making things right ALL the way to... the next generation.
You can see the fruits of what you’re asking now. Lots of idiots doing their “revolution” without any idea of what are they really asking or fighting. Only causing havoc and disruption, but, achieving nothing, except destroying the very freedom that allows them to revolt.
Only half an hour through and I love this guy! I have ADHD and sometimes it’s hard for me to pay attention to political stuff, even if I really want to learn it, but Professor Wolff’s humor and tone makes my squirrel brain a little less crazy heheh. Thank you Professor!
I remember working in an accounting firm and it's beautiful when you see your pay and the company's rewards simultaneously, in cash. You do a bunch of work for a client, see the billings you give them, and then realize that despite working your asses off you get a paltry % of what the client is paying.
I believe the most important point he is making here is that we have an honest discussion about how well or not well this present system is working, rather than just sweep it all under the rug and pretend that all is well, when in fact for too many it is not.
Marxists, "Socialists", Communists etc are part of the crooked billionaire elite. They direct the blame and attention to wrong directions and deceive the people to fight for their own enslavement. "The attack is aimed, of course, against "capitalism", which means the present government of the world by the gentile. The true capitalists of the world are Jews, who are capitalists for capital's sake. It is hard to believe that they wish to destroy capital; they wish to obtain sole control of it, and their wish has long been in fair way to fulfillment" -Henry Ford
@@HeroesofNovember just because theyre are elites in all ends of the spectrum is doesn't mean that everything about those doctrines is wrong. Just like capitalism isn't perfect either. I mean having all the wealth hoarded away while the middle class pays more in taxes while we wait fo trickle dowm economics can hardly be considered perfect. I'm not Marxist/communist/socialist I'm just saying some of this does make sense.
@@ajcastellon5903 Don't entertain the fellow. He's just pushing the Jewish Conspiracy. The "Heroes of November 1923" is a reference to the Nazis. He's a neo-nazi.
@@HeroesofNovember Dude, are you seriously using Nazi arguments in 2020? You're brainwashed by Nazi propaganda if you think that socialists and communists are a secret Jewish cabal. Grow up and read a book you troglodyte.
marx called for violent revolution and destruction of societies for the creation of his utopia society where the state is all powerful and there is no private property nor individual rights-only collective rights- like in an insect colony.
This lecture is the real red pill. This is the type of knowledge that should be circulating front page on social media. The common class has been left for dead and here we sit passively.
@@mutualistaid4332 You have no idea what you are talking about. Did you sat in a line for 3 hours to get 750 gr of bread for a family of 3 under a marxist regime? Because I did.
What a beautiful presentation. All this time I thought my under achievement was my fault inspite of me leaving home 4.30 in the morning and coming home 10.30 at night working 2 jobs, living hand to mouth and cannot buy a house. Great, intelligent presentation. Thank you.
I study economics by myself for some time now - THIS might be the defining lecture for me. It brings everything together so flawlessly and clear. For both sides! That´s the beauty of it, you can choose freely after that lecture on how you think about the current system.
I added economics as one of my college majors and finding his channel is a blessing. Same as yourself, now I can plot all together and makes more sense.
You will notice that any post all in caps and filled with crude language is someone defending capitalism by saying that communism will always leed to totalitarian dictatorship. I don't support the solutions, or rather non-solutions, to capitalism implemented in the Soviet Union supposedly in the name of socialism however rejecting the alternatives to capitalism does not invalidate the criticism of capitalism put forward by Karl Marx. Marx had an intellectually facinating analysis of capitalism which any mature literate adult should read even if they are pro capitalist. You can simultaneously agree with the criticisms of capitalism and be critical of the alternatives as well. But look at how capitalists put their fingers in their ears and scream whenever their ideology is academically criticized. The capitalists who try to remain calm and sound intelegent are still unable to actualy read and understand Marx. They throw up a straw man of Marx to tear down so that they can boost their faith in capitalism. I have never in my life met a capitalist who could so much as accurately sumerize the communist manefesto. At best they will criticize the 10 planks of socialism but not the actual criticism of capitalism. A few capitalists have heard of the theory of exploitation but they are unable to describe it in the language used by Marx. It is as though they are nierologicly incapable of understanding Marx neither are the capable of properly sumerize for Adam smith who was far less of a good Freind to them then they think. What does it tell you about a movement that is pathologically incapable of understanding the criticism against it? What does it tell you about a movement that quite explicitly describes itself as either perfect (if you ask a free market capitalist) or the best of all possible solutions ever (if you ask a more centrist liberal democratic capitalist)? If capitalists were confident that their system was intellectually secure why not read the communist manifesto, it's short, it is an important historical document, and it captures the most fundamental criticism of capitalism. Why this childish game of avoiding teaching it to Econ students at all costs if it can be so easily refuted and is obviously worth understanding simply as a student of economic history? Capitalism is not scientific in this way it's deeply dogmatic. And if anyone thinks I'm wrong prove it by reading the communist manefesto and then coming back to me with a calm logical response to its core criticism of the employer employee hierarchy.
Jamar Walker, the argument is - Capitalism is a deceptive, clever system that rips off those who work into being reduced to wage slaves themselves while the owners of capital get richer and richer and thereby 'employ' more and more workers and servants (which is almost the same as the master owning more and more slaves). All this is very clear to anyone who goes into the substance of what economics is about. I can't find any credible argument against what I have stated above.
Yes, there is exploitation in capitalism. But with free market, you have freedoms, you have rights, you have choice. The question is not would you like to be exploited or not exploited? The question is would you rather be exploited through the price mechanism or would you rather be exploited through coercion? You know what the alternatives to capitalism are? War. Plague. Collapse. Revolution. So if you are too ignorant to have figured it out, let me tell you, capitalism is better than all of those alternatives. So of course you want to live in a society where wealth always flows from the bottom to the top, because a society where wealth flows from the top to the bottom is one where you are starving to death.
@@goodman528 Are you sure those things that you listed: War, plague, collapse, revolution are the alternatives to capitalism? Let me tell you some examples: War has been made in the Middle East for over a decade, and who is involving it? America, the biggest capitalist in the world. Who supports the Arab Spring, the event that made Syria, Libya, Egypt people to go wild in revolution and collapse? CIA, the agency of America. I don't know about the plague, but I know one thing that cocain - the thing that is worse than some kind of plague - is made by capitalists, who seek profit. Overall, I think what you listed is not the alternatives of capitalism, pfff. They are children of capitalism. Oh, one more thing. Ask yourself: do we have a way to not be exploited? Why a free man has to suffer from exploitation from capitalism? Is that freedom?
+MckennaCountrCulture A good teacher can take any subject and break it down into understandable segments. A poor teacher apologizes for the complexity of their subject. I appreciate Professor Wolff beyond words.
Thank you, Richard D. Wolff. I was hanging on every word and had to listen to some parts twice, and I'll be watching more of your videos. Peace and blessings to you.
Capitalism and Communism are two sides of the same shekel. The International Jewish banking else and Wall Street funded the Bolshevik revolution. Almost all Communist and Bolshevik leaders were Jewish. They encourage to lower-class gentiles to fight against the higher class gentiles so that the Jewry could take all the power to themselves. The Communists have done nothing to stop usury or the criminal finance elite.
Professor wolf. Just wanted to say I’ve been enjoying your lectures. My whole life I’ve been a hard right conservative voter. But after listening to you and reading what MARX had to say, I’ve found myself agreeing with alot of what the man had to say. And just thought you would like to know that. So don’t think your work ever goes unnoticed
In the UK we just don't learn about any of this stuff. History lessons in the 80s/90s were limited to Romans, Tudors and WWI trench warfare. Prof. Wolff makes this understandable for someone like me, who has no prior knowledge but a passion to learn because I see the problems with current economics and politics. He' also very engaging and he knows his subject so well he just orates very naturally. I bet he's a brilliant dinner party guest. His wife probably bans him from discussing Marx though...
@Tyreal567 U mean marxism:)? A radical revolutionary socialist movement/ideology.That's the historically correct (and HONEST!!) definition of it. To me it is the same as nazism. Scientific socialism, my ass! Wolf's barking about the "achievements" of the USSR , places him in the category of the Holocaust denials.So....a nazi. Also his mindset and way of talk ( oh GOD!!) is waay to familiar to me.As to a Holocaust survival the barking of a nazi.
Dock Vernct if you are stupid enough to get "ripped off in your job" then you are getting what the market will bring with your intelligence level. The majority of folks understand that to get more for your time, you have to be diligent in expanding your skilset, and theres nothing wrong with that. Those who lament that it isnt handed to them are full of shit, Skippy. Socialism has failed in a big way every time it has been attempted because socialism is inevitably force and control, and this guy is a damned snake oil salesman who probably couldnt make a career in the private sector...Ward Churchill without the stupid ponytail.
Kevin Cody I'm not really sure of your argument in this reply, The Golden Rule is something someone applies to their personal individual actions and interactions and it a term reserved for personal morality. I believe I covered your query in the other conversation above this one that you engaged me on and it was a bit lengthy, so I will decline to expound in this post.
Currently majoring in Philosophy, Economics, and Cognitive Neuroscience and glad that I found your channel to expand my education beyond of what is traditional taught in college. 👽♥️♥️♥️
Reading some of these comments was very depressing. I thought this lecture provided a fascinating analysis of economics. I think nearly if not every word of it is pretty much undeniable fact and that people who so vehemently disagree are likely exercising some cognitive dissonance. American exceptionalism has been dead for 40 odd years so lets evolve or at least admit this to ourselves.
Well, it shows our corporate masters have done a good job of dumbing us down and not teaching us to think for ourselves or understand our own history. Not incurable but takes a bit more work than we're used to. It's amazing that we're so easily brainwashed by the system....but it's their intention so not completely unexpected.
It's not just the US. I don't think you understand the extent of surplus value You pay the bosses through surplus value more than you pay yourself, and not only that, unless it's a new company that hasn't broke even on the initial investment, the workers already payed for the materials that go into production, and the workers already paid for putting money back into the company, and the workers already paid for the tools, the equipment, the gas, etc. All these businesses and the entire capitalist class is paid for by the surplus value taken from the workers labor. CAPITALISM IS INHERENTLY A THIEVERY SYSTEM!
This came out 10 years ago. This should be compulsory viewing for all young people, before they have fallen for the self-perpetuating propaganda that says “Greed is Good”. We need a few more Roosevelts on this planet right now.
Thank you Richard Wolff for the insight. I watch all of your videos. Those in the comment section check out Democracy at Work UA-cam channel. It's sad only 219k views of this video. Here I am in the fall of 2020. No recovery was ever made to this point and we had yet another depression. People are rioting in the streets over inequality yet they don't understand why the inequality exist.
Richard! I am so glad i found your videos! Im 28 with a degree in accounting...I have been so dissatisfied with our economy that i decided to investigate for myself since no one else was speaking the truth. (even started writing a book)...at first i thought i had come up with a system that could save capitalism....then realized capitalism even with the fix....Capitalism still HAS TO Fail...
Capitalism is just monarchy itself...once a gang of people took the power and capitalism is exactly that ...communism was the same a religion gion ruled by a gang of thieves and criminals also coming from a monarch society...the same thieves and burglars together with their favourite prostitutes
@@getaheadwithpetekelly you dont own everything, you own an equal land and resources stake in the state for each newly born person. Production is to be purchased as much qty you need, you don't own it
An excellent lecture. Professor Wolff has exceptional skill in combining a compelling, engaging style of delivery with some intellectually highly accomplished analyses of large economic truths. His ability to convey the fundamental underlying dynamic of capital in a broader historical context - and in the language of the modern smartphone-toting proletarian - has a force and wisdom such that it is hardly surprising the ruling class has typically resorted to silencing his antecedents. Let's make sure they don't do it again....
@@Appleriver3 for one thing, "The smartphone-toting proletarian", hahahaha. The smartphone that would never exist under communism. If it did exist, it would be the size of a loaf of bread. Sorry, it's just funny to see people still fantasize about this absurd scenario.
The United States is unable (or unwilling...or both) to separate Democracy from Capitalism. The two terms are so confused and intertwined, in the minds of most Americans, that we can barely discriminate between them. Well, just in case it isn't obvious, here's a clue: One of these things should be wrapped in our flag...and the other should be disposed of immediately. I'll leave it to the reader to guess which is which. Thank You, Prof. Wolff for shedding light on our profound ignorance...in the hopes that we'll learn and make the necessary changes needed to survive and thrive in this country. The U.S. is worth saving.
+William Broderick Dunno about stupid but, but coming to "Intro to Marxism" video and asking what he means by "working people continue to take the lubeless ass fucking from the ruling class" is some serious lack of basic information on the subject.
At about 52:00, Prof. Wolff mentions the habit of blaming the person instead of the system. That one really struck me because I saw that happen a lot during my 37 years in the aviation industry. When an error happened, management would automatically point a finger at the person looking for fault. They should have examined the system, or the process, instead. 100% of the time the error occurs because the process is broken. It may be a training issue, methods, or tools, but finding fault in the person is the wrong way to go. I would tell my trainees that an error is a valuable thing, but only if we learn from it. Take that error and improve the system. Train the worker better. Modify the methods you use. Find better tools, or even develop them on your own. Always examine the process, like with capitalism. Continual process improvement is required to advance to a higher human state of being. Blaming the worker is a destructive thing that doesn't do anything to improve matters. In fact, they make it worse. Thanks again for helping me to understand all this.
sorry mate but I am in manufacturing and we produce for aviation industries... this does not happen at all, you just worked for someone awful... the opposite is true, these days the engineer is responsible for making a bulletproof process so you can hire someone as clueless as possible and pay less... if the process cannot be simplified that much then they are going to get a specialist and pay him a lot of money, more than managers some times... in that case he gets paid a lot so he has the responsibility... still they do not point fingers at him... because someone with such high skill can walk out the door at any point if people behave bad at him... so no, nothing of what you said is true...
im FAR from a marxist, and still believe in capitalism for the most part, but i do love how intellectually stimulating marxism is. furthermore, i quite enjoy people with zero understanding of marx's writings critiquing marx. so far, most of the criticism of marx is "look at what the soviet union did, hur dur".
Rouzbeh Modarresi well marx was a professional philosopher and an accomplished writer. intellectually, his approach to analyzing the structure of production was revolutionary. he was the first to truly understand what the underlying forces behind capitalism's methods of production are, or at very least the first to point it out.
+Fightneit 90, Capitalism did not teach you that new sentences begin with an upper-case letter? Or did capitalism teach you to be lazy? Either way, I see the "efficiency" of capitalism.
***** i "believe in capitalism" because im pragmatic. capitalism has proven to be both resilient and able to be reformed. it's collapsed multiple times, been challenged by half the world, and still survived. i dont believe it's going anywhere, even if id like it to. it's simply too entrenched now to be challenged seriously. that said, i believe the pragmatic way forward is to reform it from within, taking the profit generating effects that capitalism has and neutering it's harmful effects. it's been shown to be possible, it just takes a while. in short, i believe in capitalism because i believe the people operating with the system have the power and the will to defang it.
***** im not Utopian, and believe radical social change is as dangerous as the system of capitalism. i recognize the risks inherent to our current system, and sympathize with your arguments, but the world we live in must be looked at rationally, and with an historical context. the most important lesson of the cold war was that the elites running western capitalism are literally ready to annihilate the world with nuclear arms rather than concede their power. in a power struggle, the most committed win. they are more committed than we are. that's a fact that must be accepted. stability isnt something im that worried about. instability has negatives and benefits. capitalism is extremely resilient. as of yet, noone has found a way to adequately challenge it's power structure. it isnt for the lack of trying. no system on earth, ever has been rebelled against more than capitalism. yet it survives. it's a system deeply entrenched in social consciousness. in my opinion, too deeply to confront without making things much worse. you can kill it with a thousand cuts, but confronting it head on is suicide. it has the capacity to save us from it's destructive nature. the state capitalist system we have in the US is rapidly providing the very technology needed to overt climate disaster. all systems have needed defanging. people are savage, especially when given power. that's not indicative of capitalism, it's a truism. lastly, the left has largely failed to provide a real alternative to capitalism, or at very least build a significant movement to implement any radical change. changing public opinion must come before any radical change can be made. that opinion swing isnt really happening. what the left has been able to do is gradually reform the system from within. that's a lesson we should be aware of.
Thank you so much Prof Wolff for this PHENOMENAL lecture. It’s absolutely amazing, your teaching method is fantastic and very accessible. Never stop! Love you + Marxism! ♥️
At 30:00 he talks about producing more value than what you are paid. This is the employee/employer relationship. If you don't like it, start your own business. What he isn't telling you is that there are additional costs that are factored in. If you are paid $20 an hour and you produce $30 an hour of value, you think you are being "ripped off" for $10? No. It cost $1 per hour for the A/C you enjoyed. It cost $2 an hour for the rent of the building you are in. It cost $2 an hour for the tools you were using. It cost $1 an hour for the staffing specialists who pay you and manage your benefits. It cost $1 an hour for marketing the product you made and $1 an hour to ship the products you made. That leaves your employer with $2 an hour profit to pay himself.
I am furious from reading the senseless comments of those who do not know how to independently think, because they've never been "thought" that at "school". This mankind will either cease to exist or it will finally figure it out for the best. The sheer number of sheep in "modern" mankind is just mind-boggling; spoiled, toxic and mindless majority. Not their fault however, their characters' flaws were just exploited.
This aged so well in term of the last part. Tiktok is awaking a lot of people us to the atrocity that is American capitalism and the labor abuse we are facing. I hope that 2024 is our year.
Well It really depends, many where literally owned by their lords Marxists recognize that capitalism is the next logical upgrade to feudalism given it is much more efficient and equitable, so not really over all but the situation now is pretty horrible and it seems capitalism is beginning its decay so sit tight over the next few years (:
![Understanding Marxism: Q&A with Richard D. Wolff [June 2019]](http://i.ytimg.com/vi/eU-AkeOyiOQ/mqdefault.jpg)
![Understanding Marxism: Q&A with Richard D. Wolff [June 2019]](/img/tr.png)
Man I love how he just gets more and more enraged as the talk progresses.
that's because he knows he is right, just like Lenin, and Trotsky
Funny how people who nothing about economics automatically associate Marx with Lenin and Trotsky. Can I say psy-op, or discrediting by association?
Probably because he is the trying to educate you, he is trying to convert you.
@gage stdon I wish I was high so I could enjoy this video more than I do now. I'm just poor and can't afford much😔. However that (braindead) guy is just an ignorant daft fool
Homemadebeats Richard is right, Lenin and Trotsky had a very bad way of going about things ‘even’ if they were right
Excellent presentation/argument by Professor Wolff. Yes the video is 11 years old-it’s still valid today in 2024!
Yea amazing arguments... if you live in a utopia but this is the real world wake up communism does not work
This presentation has the same urgency as it had eight years ago, without even having to add the coronavirus to it.
And three years after Covid hit, it's more timely than it ever was.
oh man check out his "debate" on valuetainment, the host argues in 2020 that capitalism brings end-point prices down and that shit aged like milk 😂
Relocate to Ch, and enjoy democracy now!
It's 4 am and I have an exam in the afternoon and let me tell you, I have terrible attention span, I don't recall being able to listen to a full lecture without zoning out in the past four and a haf years (I'm a post-grad student), but this 90 minutes lecture went by like a breeze. I was sleepy before I started watching but that flew away in minutes after he started talking. Absolutely beautiful.
One of the great thinkers of this sad, despicable time, no doubt.
Hopefully he will be remembered when we have moved to a new better system. If we dont get to barbarism.
@@otakusensei3549 we're headed back to feudalism. It's not going to be pretty.
The fact you people find this discourse convincing is both hilarious and tragic. FREEDOM's the word! Absolutely nothing in a capitalist system impedes the creation of a worker's enterprise, but no one is interested! Fundamentally, communism is about resentment and envy; not fairness.
This guy is a joke, not a “thinker” he’s just rambling the same thing others have rambled over and over with the same results. The very definition of insanity.
@@leopolddb9955 seems like you two made up your minds already and choose to maintain the beliefs you already had without opening any possibility for change, out of pure ego. we naturally hate it when an idea we've identified with for so long is proven to be flawed. the smart people get over that and listen to opposing viewpoints, to take in new information.
This course should be mandatory economics
It would be if not for capitalism interference
Capitalists will do their best to prevent this knowledge from reaching the working class.
This course should be mandatory drama 🎭
If you want to believe in fairytale, lol. He must be shocked that people believe this bullshit. The debates he has with intelligent people he always ends up looking so stupid, Yaron Brook or Gene Epstein are 2 staight off the bat. He really should not do them and only preach to the sheep who can't think for themselves
@Kurt Wilkinson I didn’t knew that you are an expert of people’s intelligences? Btw, are you familiar with using modalities to make inductive arguments look like deductive arguments to fool people into believing that what is being said is a good argument. I’m sure you didn’t.
Lastly, Yaron Brook is not an economist by education but an entrepreneur. Nice try!
wow. this is probably the most amazing lecture i've ever seen in my life. i was gripping the desk in the last 10 minutes. made me want to drop everything and study economics. fantastic presentation, analysis, rhetoric, crescendo, pretty much everything about this is perfection.
I'm happy my husband has helped me have a moment in my life so I can study this. I owe allot to him and Richard D Wolf for this pursuit of knowledge.
There's one by Rick Roderick titled "Hegel and Modern Life". Was recorded in 1993. Relevant now more than ever.
"pretty much everything about this is perfection" EXCEPT
Mr. Wolff is holding back valuable information that can improve your financial future...… .. Instead leading you on a pleasant diversion.
the S&P 500 has gone up 2-1/2 times since 2012
Wolff in an economist he knows better.
His niche is selling Marxist BS to people who Don't know better.
Jesus Christ, you’re a blithering idiot if yo I think this shit is ground breaking.
It’s the same ol socialist trope. Co-ops ARE NOT SOCIALISM, Socialism doesn’t work as a system. Period.
No where has it worked, and before anyone gives me the “no true Scotsman” line of NOT REAL SOCIALISM. It most certainly is real socialism. Problem is, the shit doesn’t work
holophrasm that’s because you’re what Karl would call a “useful idiot”
Five thumbs up for this presentation. Prof. Wolff is one of the few academicians who's not afraid to expose the inherent flaws of the American capitalist economic system.
How refreshing it is to hear the truth for once.
You are enjoying the highest standard of living in history. Let that sink in.
@@PathfinderHistoryTravel People who lived under feudalism were also enjoying the highest standard of living in their history as well, yet we found a way to improve on it. Improvement does not signify finality or the best possible option. You point *only* sinks because it can't hold water.
Capitalism brought about great things like rapid industrialization and an efficient model to measure the worth of labor, for example. However, to imply that we should ignore and not address glaring, ruinous flaws like an infinite growth model for a finite system, class subjugation, or wage theft being integral to capitalism is shortsighted. Much like with feudalism, if we can improve, we should.
Good to see someone who disagrees out here trying to engage with new ideas. Hope that gives you a stronger perspective to engage with them!
@@WiggidyWack Thanks for the thoughtful reply. Wolff suggests everything would be better if all businesses were co-ops. How does he expect that to happen? Does he also want a centrally planned economy like a command economy? Does he want to eliminate private property? What would he do to people who oppose his ideas? These are the questions for Marxists. But they don’t talk about them. Because historically their ides only can be implemented by force and violence. Wolff spends most of his time stirring dissatisfaction and envy. He’s working towards the overthrow of capitalism. If it happens it will be a tragedy of epic proportions. Please read Thomas Sowell’s book Basic Economics. And let me know what you think.
@@PathfinderHistoryTravel No problem on being thoughtful. Socialism requires organization from an understanding of mutual interest. You're venturing into both unfamiliar and what must feel like oppositional territory, so there's going to be tension but also opportunity to reveal that mutual interest. You're more than worthy of thoughtfulness.
I can't honestly elaborate on what Wolff's personal beliefs on the methodology of how to best implement socialist/communist structure both economically and socially. There's a wide variety of theory on how best to achieve it, and plenty of disagreement and debate among socialist circles as well. This lecture is more of a basic and simplified means to lay out key critiques of capitalism and list basic examples through historically observed working solutions to replace it. Co-ops exist today, even in the US, so he uses this as an example of a working solution. Maybe see if you could email him and ask about different communist histories and theories on solving issues like property, opposition, or different approaches to economic structures from a Marxist perspective. He might get back to you, never know. Just be thoughtful and genuine like you are now.
It also must be stated that Wolff accurately points out throughout history people have fought over the implementation of markets, regardless of the market structure in question. However, that does not mean that these conflicts in ideology always come about through force and violence. There are plenty of examples in history of peaceful revolutions (such as the Carnation Revolution) in which the implementation of these ideas, as well as the fall of the previous status quo, came about through an incredibly peaceful transition of power. Marxists do actually address these matters in an underlying principle: Conditions determine both outcome and solution. As for violent conflict and the use of force itself, all ideologies have a theory of violence. This includes capitalism, which has committed countless historical examples of brutal subjugation, some of which occurred within your lifetime. I think what you should really be asking is why it's okay in your mind if Capitalists utilize force and violence for their ideals, but it's not okay when theoretically Marxists could do the same.
Sowell's overall concept of economics was influenced heavily through Milton Friedman, whos economic and social theories I reject outright as a socialist. Are there specific points in the book you find fascinating and want to share to hear a Marxist perspective on? Be more than happy to give you that kind of hands on demo if it would help you understand this side of thinking better. Answered the best I could. Hope it helps.
@@WiggidyWack In the United States our constitution is set up so changes in direction big or small are conducted by our elected officials. They can be replaced pretty quickly if most voters don’t like what’s happening. Violence has no place in our politics and should be denounced. Violence in this case is only a tool used by those who want to impose their will on the majority.
I don’t often use the term capitalism. I’m merely stating the fact that a decentralized market/price driven economy utilizes limited resources and promotes innovation and productivity better than any way of organizing economic activity humans have ever come up with. It is the reason the human race is thriving with 7 billion people with enough food and shelter to survive. Life expectancy, infant mortality, education, civil rights, standard of living and any other metric you can think of has never been better. The ideas Adam Smith, Hayek, Friedman and Sowell spell out in their writings are the reason why. Not the purveyor of dissatisfaction and envy Marx.
There is no reason for a revolution violent or otherwise.
We also must align expectations with reality. Marxism doesn’t align with reality because it diminishes the motivation to innovate and produce by taking away the economic incentive. Equality of outcomes is impossible because people are diverse in abilities, interests and energies. There will always be the poor but thankfully market economies and world trade have lifted billions out of poverty in our lifetime. The poor in America live better that the rich 100 years ago.
Centrally planned economies (command economies) and eliminating private property have been tried and don’t work. This is fact based on historical evidence.
So we need to elect people who protect private property, enforce contracts and limit the size and influence of government. Corporations don’t create gulags, governments do.
The reason Wolff and other communists are at a disadvantage is because they are factually wrong. Every company can organize as a co-op but you can’t force them to.
Please stop promoting bad ideas. Thanks.
This might be the most important Video on UA-cam
It's not, Marx was a deadbeat loser
Watching this from work is really a bless.
May we all be blessed one day
It reminds me of being in school and learning how slavery “ended” and share cropping became a thing. They always rename and rework things but the power structure remains largely the same no matter the changes. The highest rewards go to those that do the least.
You're a bad ass and your lectures are much appreciated by this misfit millennial living in Texas. Don't retire without knowing you made a difference. Intelligence, coupled with passion for the subject he's teaching that makes it blindingly obvious that you have fined tuned, wizardly lecture skills.✌🏻
It's September 2020 and I hope everyone attending this lecture in person and on UA-cam remembers to get together & ORGANIZE!
What is your line of work?
@@notabene7381 HARHARHARHARHAR
I was writing a thought that came to me while I was high watching this but now that I'm getting sober I see how it doesn't make sense because the capitalists can compensate for an inexistent Left just by fabricating a replacement, hell the environmental initiatives and charities etc are run by the rich so of course it would never work. But anyway, maybe there's something of value in what I was writing in this last half hour, so hope you don't mind that I post it as a reply to you instead of in the main thread. So here it is:
I think there's an important overlooked sort of subconscious frame that affects virtually everyone (that isn't rich) - even though we're unaware, and I include myself here and everyone that I know - which is that we "the people" continue going about our consumerist little lives rather than rebel against the system because we know that there's a Left. And that this Left, these opposition parties, are buffering capitalism as much as possible - to the extent that greed can be buffered - and therefore keeping the "balance"...
We all know what would happen if everyone was as politically informed as Prof Wolff: we would actually gather together democratically to arrive at the big decisions that concern everyone. So it makes sense that the resistance has been trying to educate everyone as much as possible, although we know... we know we can't reach most of those brainwashed people, too busy making TikTok videos. Too busy trying to be the next steroid-filled Hollywood star or the next Jeff Bezos. So we talk about reaching "critical mass" because enough people must be educated and quite frankly PISSED! about what's going on, yet we struggle everyday to try to undo the damages of capitalism.
The Left gives the example by opposing the austerities and injustices that capitalism brings about, but in so doing it provides a counter-balancing force for it to lean on.
These two action plans - educating as much as we can & opposing as much as we can - raise a question in my mind. Question: what if enough people are educated and thus we no longer need to oppose (because, as we've seen, opposing comes at the cost of counter-balancing)? Crazy notion right? but what if, after a certain threshold of education, any more opposition is actually a *hindrance* to the development of the better economic system?
Now imagine what would happen if we stepped out. What if the Left - all the Lefts, all the non-profits, all the environmental organisations, ALL of the anti-capitalists - decided "It's time. We're enough already. Technology is at a point today that we can all communicate and get organised, and we've had it with serving as a buffer that helps keep the public's trust in the system." And so all the anti-capitalists and everyone that sees that capitalism might not be the best we can do would unite under the premise of "a chance to sit down and actually DISCUSS our economic system, as equals". And step number 1 of this plan is, drop out of the political establishment, stop saving the whales, stop fundraising for Africa. Seriously, stop it all. Come together and do it. Do it loudly, make sure the world gets the message that until we don't sit down with the big shots to discuss our collective way forward, none of that is coming back. Make it a national holiday. October 15, the day mankind lost all hope. A grand strike, directed not at bosses, but at the babies that suck on the pacifier called The Left. Us. Yes, YOU and ME and probably almost all the people you know, all of us that hold the cognitive dissonance of both caring for the planet and leading a life of pollution and of directly sponsoring environmental destruction just by living. All of us that wake up every morning torn between the urge to try to save this society and the urge to make the most of it #bestlifeever as if we're playing generational russian roulette before the collapse of our culture, postponing the responsibility of making things right ALL the way to... the next generation.
The best way to deprive everyone of ownership is to make everyone feel Ike they own everything.
You can see the fruits of what you’re asking now. Lots of idiots doing their “revolution” without any idea of what are they really asking or fighting. Only causing havoc and disruption, but, achieving nothing, except destroying the very freedom that allows them to revolt.
This is possible the best lecture I have ever been a part of
Only half an hour through and I love this guy! I have ADHD and sometimes it’s hard for me to pay attention to political stuff, even if I really want to learn it, but Professor Wolff’s humor and tone makes my squirrel brain a little less crazy heheh. Thank you Professor!
same, the way he varies the speed and tone of his voice as he speaks is perfect. He's a good teacher
I remember working in an accounting firm and it's beautiful when you see your pay and the company's rewards simultaneously, in cash. You do a bunch of work for a client, see the billings you give them, and then realize that despite working your asses off you get a paltry % of what the client is paying.
vielbosheit , are you still working yours ass off like poor accountant, or you finally open up your own firm ??
Quit the whole disgusting field
+vielbosheit amen brothet
Nice to know you quit! That's the beauty of capitalism, it gives people freedom to pursue the trade they want!
Agustin Barajas cant tll if serious
I believe the most important point he is making here is that we have an honest discussion about how well or not well this present system is working, rather than just sweep it all under the rug and pretend that all is well, when in fact for too many it is not.
Now they seem to believe that the Mental Health System is the cure all!
Marxists, "Socialists", Communists etc are part of the crooked billionaire elite. They direct the blame and attention to wrong directions and deceive the people to fight for their own enslavement.
"The attack is aimed, of course, against "capitalism", which means the present government of the world by the gentile. The true capitalists of the world are Jews, who are capitalists for capital's sake. It is hard to believe that they wish to destroy capital; they wish to obtain sole control of it, and their wish has long been in fair way to fulfillment" -Henry Ford
@@HeroesofNovember just because theyre are elites in all ends of the spectrum is doesn't mean that everything about those doctrines is wrong. Just like capitalism isn't perfect either. I mean having all the wealth hoarded away while the middle class pays more in taxes while we wait fo trickle dowm economics can hardly be considered perfect.
I'm not Marxist/communist/socialist I'm just saying some of this does make sense.
@@ajcastellon5903 Don't entertain the fellow. He's just pushing the Jewish Conspiracy. The "Heroes of November 1923" is a reference to the Nazis. He's a neo-nazi.
@@HeroesofNovember Dude, are you seriously using Nazi arguments in 2020? You're brainwashed by Nazi propaganda if you think that socialists and communists are a secret Jewish cabal. Grow up and read a book you troglodyte.
Hello employer. I just graduated from MIT, I'm ready to work, look how white my teeth are 😂😂😂
prof wolff is 100x more qualified than Janet Yellen. his talent would b wasted if he is not in the next Admin
I wish I'd have this type of class and professor in school.
+Ovidiu C i wish this guy was around to help fertilize my garden last spring
bademoxy well, you were there, you could've just rolled on the ground a bit.
+bademoxy Please just listen, your flowers and vegetables will grow and you will become educated.
marx called for violent revolution and destruction of societies for the creation of his utopia society where the state is all powerful and there is no private property nor individual rights-only collective rights- like in an insect colony.
@ bademoxy
Communism is stateless you fucking idiot. Obviously you haven't read.
This lecture is the real red pill. This is the type of knowledge that should be circulating front page on social media. The common class has been left for dead and here we sit passively.
Right... on your computer... well fed... in a nice environment with nice clothes.... allllll brought to you by capitalism.
@@mutualistaid4332 You have no idea what you are talking about. Did you sat in a line for 3 hours to get 750 gr of bread for a family of 3 under a marxist regime? Because I did.
G Katzirz
That's not a redpill, that's opium for the masses. Wolff is an idiot. He have no clue what even marxism is.
G Katzirz It creates Class Warfare by design.
@@andreikovaci1202 What is Marxism, in your view, then? Also, I'm an anarchist, not an a tankie/authCom.
What a beautiful presentation. All this time I thought my under achievement was my fault inspite of me leaving home 4.30 in the morning and coming home 10.30 at night working 2 jobs, living hand to mouth and cannot buy a house. Great, intelligent presentation. Thank you.
The best way to deprive everyone of ownership is to make everyone feel Ike they own everything.
I study economics by myself for some time now - THIS might be the defining lecture for me. It brings everything together so flawlessly and clear. For both sides! That´s the beauty of it, you can choose freely after that lecture on how you think about the current system.
I added economics as one of my college majors and finding his channel is a blessing. Same as yourself, now I can plot all together and makes more sense.
It takes a lot of time and patience to learn all of this! Im learning new things every day.
You will notice that any post all in caps and filled with crude language is someone defending capitalism by saying that communism will always leed to totalitarian dictatorship. I don't support the solutions, or rather non-solutions, to capitalism implemented in the Soviet Union supposedly in the name of socialism however rejecting the alternatives to capitalism does not invalidate the criticism of capitalism put forward by Karl Marx. Marx had an intellectually facinating analysis of capitalism which any mature literate adult should read even if they are pro capitalist. You can simultaneously agree with the criticisms of capitalism and be critical of the alternatives as well. But look at how capitalists put their fingers in their ears and scream whenever their ideology is academically criticized. The capitalists who try to remain calm and sound intelegent are still unable to actualy read and understand Marx. They throw up a straw man of Marx to tear down so that they can boost their faith in capitalism. I have never in my life met a capitalist who could so much as accurately sumerize the communist manefesto. At best they will criticize the 10 planks of socialism but not the actual criticism of capitalism. A few capitalists have heard of the theory of exploitation but they are unable to describe it in the language used by Marx. It is as though they are nierologicly incapable of understanding Marx neither are the capable of properly sumerize for Adam smith who was far less of a good Freind to them then they think.
What does it tell you about a movement that is pathologically incapable of understanding the criticism against it? What does it tell you about a movement that quite explicitly describes itself as either perfect (if you ask a free market capitalist) or the best of all possible solutions ever (if you ask a more centrist liberal democratic capitalist)? If capitalists were confident that their system was intellectually secure why not read the communist manifesto, it's short, it is an important historical document, and it captures the most fundamental criticism of capitalism. Why this childish game of avoiding teaching it to Econ students at all costs if it can be so easily refuted and is obviously worth understanding simply as a student of economic history? Capitalism is not scientific in this way it's deeply dogmatic. And if anyone thinks I'm wrong prove it by reading the communist manefesto and then coming back to me with a calm logical response to its core criticism of the employer employee hierarchy.
Jamar Walker capitalism is feudalism. Belief that capitalism is a decent system for a civilized society is nothing short of ignorant religious zeal.
Jamar Walker let me know when you make your million dumbass.
Jamar Walker, the argument is - Capitalism is a deceptive, clever system that rips off those who work into being reduced to wage slaves themselves while the owners of capital get richer and richer and thereby 'employ' more and more workers and servants (which is almost the same as the master owning more and more slaves). All this is very clear to anyone who goes into the substance of what economics is about. I can't find any credible argument against what I have stated above.
Yes, there is exploitation in capitalism. But with free market, you have freedoms, you have rights, you have choice. The question is not would you like to be exploited or not exploited? The question is would you rather be exploited through the price mechanism or would you rather be exploited through coercion?
You know what the alternatives to capitalism are? War. Plague. Collapse. Revolution. So if you are too ignorant to have figured it out, let me tell you, capitalism is better than all of those alternatives. So of course you want to live in a society where wealth always flows from the bottom to the top, because a society where wealth flows from the top to the bottom is one where you are starving to death.
@@goodman528 Are you sure those things that you listed: War, plague, collapse, revolution are the alternatives to capitalism? Let me tell you some examples: War has been made in the Middle East for over a decade, and who is involving it? America, the biggest capitalist in the world. Who supports the Arab Spring, the event that made Syria, Libya, Egypt people to go wild in revolution and collapse? CIA, the agency of America. I don't know about the plague, but I know one thing that cocain - the thing that is worse than some kind of plague - is made by capitalists, who seek profit. Overall, I think what you listed is not the alternatives of capitalism, pfff. They are children of capitalism.
Oh, one more thing. Ask yourself: do we have a way to not be exploited? Why a free man has to suffer from exploitation from capitalism? Is that freedom?
Very passionate person dr.wolff,can bring clarity of a topic of equal fairness that doesn't exist in capitalism .Humans have an RIGHTS/MAGNA CARTA
I always come back to this video before i read another Book on marxism
did i just watch an entire lecture on economics during my summer break??? (yes)
This was really good at cutting often assumed complex things into very easily understandable real world situations.
MckennaCountrCulture It really was. I'm use to Prof Wolff chatting about co-ops so his take on our past was enlightening.
+MckennaCountrCulture A good teacher can take any subject and break it down into understandable segments. A poor teacher apologizes for the complexity of their subject. I appreciate Professor Wolff beyond words.
+Josef Princiotta
He has a nice style of presentation but he distorts the facts.
Ferdinand Holcapek well then go get some good info from the New York Post or Fox.
"Real world" situations? The man has spent his entire life in academia. He has zero experience in the world that 99% of this country lives in.
Thanks!
Thank you, Richard D. Wolff. I was hanging on every word and had to listen to some parts twice, and I'll be watching more of your videos. Peace and blessings to you.
Isn't he awesome? 😁
I feel the same!
Get out of America
@@masonblase ???
The best way to deprive everyone of ownership is to make everyone feel Ike they own everything.
The best explanation ever! The best professor ever. Prof Richard Wolff
Is he the first professor you've listened to?
I could listen to this guy talk all day
Capitalism and Communism are two sides of the same shekel. The International Jewish banking else and Wall Street funded the Bolshevik revolution. Almost all Communist and Bolshevik leaders were Jewish. They encourage to lower-class gentiles to fight against the higher class gentiles so that the Jewry could take all the power to themselves. The Communists have done nothing to stop usury or the criminal finance elite.
Professor wolf. Just wanted to say I’ve been enjoying your lectures. My whole life I’ve been a hard right conservative voter. But after listening to you and reading what MARX had to say, I’ve found myself agreeing with alot of what the man had to say. And just thought you would like to know that. So don’t think your work ever goes unnoticed
Thank you Dr. Wolff, you've pushed me even further left!
Best explanation I’ve listened to on the subject of marxism
The best way to deprive everyone of ownership is to make everyone feel Ike they own everything.
In the UK we just don't learn about any of this stuff. History lessons in the 80s/90s were limited to Romans, Tudors and WWI trench warfare. Prof. Wolff makes this understandable for someone like me, who has no prior knowledge but a passion to learn because I see the problems with current economics and politics. He' also very engaging and he knows his subject so well he just orates very naturally. I bet he's a brilliant dinner party guest. His wife probably bans him from discussing Marx though...
The White Pariah
I'm sorry to say that , but Wolff is a qualified idiot. He don't even know ( more like he lie about it) what marxism really is.
@Tyreal567 U mean marxism:)? A radical revolutionary socialist movement/ideology.That's the historically correct (and HONEST!!) definition of it. To me it is the same as nazism. Scientific socialism, my ass!
Wolf's barking about the "achievements" of the USSR , places him in the category of the Holocaust denials.So....a nazi. Also his mindset and way of talk ( oh GOD!!) is waay to familiar to me.As to a Holocaust survival the barking of a nazi.
The time for reform is long passed. It's time for revolution.
This is a lucid simplification on a complex concept. Thanks alot!
lol he is what jordan maxwell is for religious symbolism for marxism and economics.
"You are always going to be Ripped-Off in your job in Corporate Capitalism...'cause that's the way the system works!" (Richard Wolff)
CosmicFork and he is full of shit
+tbwil11 is full of shit
Dock Vernct if you are stupid enough to get "ripped off in your job" then you are getting what the market will bring with your intelligence level. The majority of folks understand that to get more for your time, you have to be diligent in expanding your skilset, and theres nothing wrong with that. Those who lament that it isnt handed to them are full of shit, Skippy. Socialism has failed in a big way every time it has been attempted because socialism is inevitably force and control, and this guy is a damned snake oil salesman who probably couldnt make a career in the private sector...Ward Churchill without the stupid ponytail.
***** So do you think the golden rule is full of shit too? Who is in charge of your emotions here - you or Prof Wolff?
Kevin Cody I'm not really sure of your argument in this reply, The Golden Rule is something someone applies to their personal individual actions and interactions and it a term reserved for personal morality. I believe I covered your query in the other conversation above this one that you engaged me on and it was a bit lengthy, so I will decline to expound in this post.
He's such an awesome teacher.
Arguably the best lecture in economics 101 I have heard. Many thanks
Off subject, but I love his mannerisms.
So eloquently explained.
I would love to be in Professor Wolff's classroom. I would feel so lucky.
Anytime he comes on. Keep talking back
You reached my heart their, I wish everyone could see the equality and freedom in life and study for humanity not just a small selfish minority.
Currently majoring in Philosophy, Economics, and Cognitive Neuroscience and glad that I found your channel to expand my education beyond of what is traditional taught in college.
👽♥️♥️♥️
This was incredibly constructed, and super informative. Top shelf content
Respect, Mr. Wolff.
Guys, smoke a bowl before watching this guy. I would love to be in this dude class.
Reading some of these comments was very depressing. I thought this lecture provided a fascinating analysis of economics. I think nearly if not every word of it is pretty much undeniable fact and that people who so vehemently disagree are likely exercising some cognitive dissonance. American exceptionalism has been dead for 40 odd years so lets evolve or at least admit this to ourselves.
It's not that capitalism is perfect it's that communism is deadly (reference china Russia) even better move to N Korea where the paradise has arrived.
Well, it shows our corporate masters have done a good job of dumbing us down and not teaching us to think for ourselves or understand our own history. Not incurable but takes a bit more work than we're used to. It's amazing that we're so easily brainwashed by the system....but it's their intention so not completely unexpected.
It's not just the US.
I don't think you understand the extent of surplus value
You pay the bosses through surplus value more than you pay yourself, and not only that, unless it's a new company that hasn't broke even on the initial investment, the workers already payed for the materials that go into production, and the workers already paid for putting money back into the company, and the workers already paid for the tools, the equipment, the gas, etc. All these businesses and the entire capitalist class is paid for by the surplus value taken from the workers labor.
CAPITALISM IS INHERENTLY A THIEVERY SYSTEM!
love to listen to this guy.
Thank you professor for introducing marxism
This is the best lecture I’ve ever listened in my life
Your historical perspective is priceless !!
Incredible! Just gotta cram this into my psyche.
This came out 10 years ago. This should be compulsory viewing for all young people, before they have fallen for the self-perpetuating propaganda that says “Greed is Good”.
We need a few more Roosevelts on this planet right now.
Huey Longs actually. The Delanos made their wealth from the opium trade out of china.
Thank you Richard Wolff for the insight. I watch all of your videos. Those in the comment section check out Democracy at Work UA-cam channel. It's sad only 219k views of this video. Here I am in the fall of 2020. No recovery was ever made to this point and we had yet another depression. People are rioting in the streets over inequality yet they don't understand why the inequality exist.
The best I have ever heard from an economist!!
Richard! I am so glad i found your videos! Im 28 with a degree in accounting...I have been so dissatisfied with our economy that i decided to investigate for myself since no one else was speaking the truth. (even started writing a book)...at first i thought i had come up with a system that could save capitalism....then realized capitalism even with the fix....Capitalism still HAS TO Fail...
The best way to deprive everyone of ownership is to make everyone feel Ike they own everything.
Capitalism is just monarchy itself...once a gang of people took the power and capitalism is exactly that ...communism was the same a religion gion ruled by a gang of thieves and criminals also coming from a monarch society...the same thieves and burglars together with their favourite prostitutes
@@getaheadwithpetekelly you dont own everything, you own an equal land and resources stake in the state for each newly born person. Production is to be purchased as much qty you need, you don't own it
An excellent lecture. Professor Wolff has exceptional skill in combining a compelling, engaging style of delivery with some intellectually highly accomplished analyses of large economic truths. His ability to convey the fundamental underlying dynamic of capital in a broader historical context - and in the language of the modern smartphone-toting proletarian - has a force and wisdom such that it is hardly surprising the ruling class has typically resorted to silencing his antecedents. Let's make sure they don't do it again....
@@Appleriver3 for one thing, "The smartphone-toting proletarian", hahahaha. The smartphone that would never exist under communism. If it did exist, it would be the size of a loaf of bread. Sorry, it's just funny to see people still fantasize about this absurd scenario.
@@mutualistaid4332 Do you have any crack left over for me?
@@dr.nigsopmcchortlefag9544 Lol.
@@Appleriver3 Stop spreading outright lies. Look up how the first cellphone was created who did it. You are a disgrace to the Left.
@@andreikovaci1202 , citation number 1. englishrussia.com/2006/09/18/first-russian-mobile-phone/
It's nice that a thinker like you is posting on youtube so we can understand more,thx.
Yes it is helpful.
The United States is unable (or unwilling...or both) to separate Democracy from Capitalism. The two terms are so confused and intertwined, in the minds of most Americans, that we can barely discriminate between them. Well, just in case it isn't obvious, here's a clue: One of these things should be wrapped in our flag...and the other should be disposed of immediately. I'll leave it to the reader to guess which is which.
Thank You, Prof. Wolff for shedding light on our profound ignorance...in the hopes that we'll learn and make the necessary changes needed to survive and thrive in this country. The U.S. is worth saving.
Seminal, epic, quintessential lecture from a man who has obviously dedicated his life to marxism.
Wow. This man is amazing
+Kyle Williams yes, amazingly funny!
+bademoxy Funny how regular working people continue to take the lubeless ass fucking from the ruling class.
William Broderick Elaborate please
+William Broderick Being perceptive to the reality of my surroundings can be tough at times.
+William Broderick Dunno about stupid but, but coming to "Intro to Marxism" video and asking what he means by "working people continue to take the lubeless ass fucking from the ruling class" is some serious lack of basic information on the subject.
More people should hear dr Wolff
This video might be eight years old, but it is fantastic! Thank you very much.
At about 52:00, Prof. Wolff mentions the habit of blaming the person instead of the system. That one really struck me because I saw that happen a lot during my 37 years in the aviation industry. When an error happened, management would automatically point a finger at the person looking for fault. They should have examined the system, or the process, instead. 100% of the time the error occurs because the process is broken. It may be a training issue, methods, or tools, but finding fault in the person is the wrong way to go. I would tell my trainees that an error is a valuable thing, but only if we learn from it. Take that error and improve the system. Train the worker better. Modify the methods you use. Find better tools, or even develop them on your own. Always examine the process, like with capitalism. Continual process improvement is required to advance to a higher human state of being. Blaming the worker is a destructive thing that doesn't do anything to improve matters. In fact, they make it worse.
Thanks again for helping me to understand all this.
sorry mate but I am in manufacturing and we produce for aviation industries... this does not happen at all, you just worked for someone awful... the opposite is true, these days the engineer is responsible for making a bulletproof process so you can hire someone as clueless as possible and pay less... if the process cannot be simplified that much then they are going to get a specialist and pay him a lot of money, more than managers some times... in that case he gets paid a lot so he has the responsibility... still they do not point fingers at him... because someone with such high skill can walk out the door at any point if people behave bad at him... so no, nothing of what you said is true...
im FAR from a marxist, and still believe in capitalism for the most part, but i do love how intellectually stimulating marxism is. furthermore, i quite enjoy people with zero understanding of marx's writings critiquing marx. so far, most of the criticism of marx is "look at what the soviet union did, hur dur".
Rouzbeh Modarresi well marx was a professional philosopher and an accomplished writer. intellectually, his approach to analyzing the structure of production was revolutionary. he was the first to truly understand what the underlying forces behind capitalism's methods of production are, or at very least the first to point it out.
+Fightneit 90, Capitalism did not teach you that new sentences begin with an upper-case letter? Or did capitalism teach you to be lazy? Either way, I see the "efficiency" of capitalism.
SASHO.BG vlogs good comment. thanks for your contributions.
***** i "believe in capitalism" because im pragmatic. capitalism has proven to be both resilient and able to be reformed. it's collapsed multiple times, been challenged by half the world, and still survived. i dont believe it's going anywhere, even if id like it to. it's simply too entrenched now to be challenged seriously. that said, i believe the pragmatic way forward is to reform it from within, taking the profit generating effects that capitalism has and neutering it's harmful effects. it's been shown to be possible, it just takes a while. in short, i believe in capitalism because i believe the people operating with the system have the power and the will to defang it.
***** im not Utopian, and believe radical social change is as dangerous as the system of capitalism. i recognize the risks inherent to our current system, and sympathize with your arguments, but the world we live in must be looked at rationally, and with an historical context.
the most important lesson of the cold war was that the elites running western capitalism are literally ready to annihilate the world with nuclear arms rather than concede their power. in a power struggle, the most committed win. they are more committed than we are. that's a fact that must be accepted.
stability isnt something im that worried about. instability has negatives and benefits.
capitalism is extremely resilient. as of yet, noone has found a way to adequately challenge it's power structure. it isnt for the lack of trying. no system on earth, ever has been rebelled against more than capitalism. yet it survives. it's a system deeply entrenched in social consciousness. in my opinion, too deeply to confront without making things much worse. you can kill it with a thousand cuts, but confronting it head on is suicide.
it has the capacity to save us from it's destructive nature. the state capitalist system we have in the US is rapidly providing the very technology needed to overt climate disaster.
all systems have needed defanging. people are savage, especially when given power. that's not indicative of capitalism, it's a truism.
lastly, the left has largely failed to provide a real alternative to capitalism, or at very least build a significant movement to implement any radical change. changing public opinion must come before any radical change can be made. that opinion swing isnt really happening. what the left has been able to do is gradually reform the system from within. that's a lesson we should be aware of.
Thank you so much Prof Wolff for this PHENOMENAL lecture. It’s absolutely amazing, your teaching method is fantastic and very accessible. Never stop! Love you + Marxism! ♥️
You rock Professor Wolff!
It is 2024 and his wisdom needs to be heard. God Bless you Mr. Woff!!
This lecture is just fantastic. Thank you for posting.
Absolutely one of the best lectures I've ever seen. Thank you.
Great teaching!
He's a real professor.
Thank you.
Good , Richard Wolff, you have done well to explain it thoroughly.
Richard you are awesome!
Brilliant stuff.
Thank you Prof Wolf, you are a great educator
Yes it's worth listening Richard Wolff
This is the best man on earth.
God help us that isn't true.
Trevor Sanso
Lol. Try the biggest liar I ever seen.
Love this guy!!
Super good! He makes it easy for me to grasp and that's saying something. Thanks xo
At 30:00 he talks about producing more value than what you are paid. This is the employee/employer relationship. If you don't like it, start your own business.
What he isn't telling you is that there are additional costs that are factored in.
If you are paid $20 an hour and you produce $30 an hour of value, you think you are being "ripped off" for $10? No.
It cost $1 per hour for the A/C you enjoyed. It cost $2 an hour for the rent of the building you are in. It cost $2 an hour for the tools you were using. It cost $1 an hour for the staffing specialists who pay you and manage your benefits. It cost $1 an hour for marketing the product you made and $1 an hour to ship the products you made.
That leaves your employer with $2 an hour profit to pay himself.
I would love to hear Wollf and Dr. Jordan Peterson on this topic of Marxism, great lecture!
Jordan Peterson should understand psychology because he doesn't know anything related to Marxism.....
we blamed ourselves. and thats what separates us from them.
god somebody get him to adopt me
Great lecture, thank you!
Thanks RichardDWolf.:)
I LIKE HOW RICHARD WOLFF PRESENTS THIS,HE CAN BE AN ENTRETINER ,,HE TALKS IN A REALLY INTERESTING ,AND AMUSING WAY
Wake up.The time is ripe for a Socilist Revolution!
Huzzah!✊ Huzzah!✊ Huzzah!✊
Watching this in 2022 and he's more right than ever. Everyone needs to watch this!
This was perhaps the most life-changing video I have ever seen.
"If there is hope, it lies in the proles"
- George Orwell 1984
now that is how you should do an introduction.ridiculously simple and unfortunately true
Thanks
I am furious from reading the senseless comments of those who do not know how to independently think, because they've never been "thought" that at "school".
This mankind will either cease to exist or it will finally figure it out for the best.
The sheer number of sheep in "modern" mankind is just mind-boggling; spoiled, toxic and mindless majority. Not their fault however, their characters' flaws were just exploited.
taught* but your rught man. this is fucking disgusting and very very sad.
This aged so well in term of the last part. Tiktok is awaking a lot of people us to the atrocity that is American capitalism and the labor abuse we are facing. I hope that 2024 is our year.
so a serf got to keep 50% of his labor value?
sounds way more equitable than what we have!
No, serf's ownland was much smaller than Feudal Lords
Well It really depends, many where literally owned by their lords Marxists recognize that capitalism is the next logical upgrade to feudalism given it is much more efficient and equitable, so not really over all but the situation now is pretty horrible and it seems capitalism is beginning its decay so sit tight over the next few years (:
My respect to Richard Wolff.