Billionaire Blames "Socialism" for Capitalism's Problems - Economic Update with Richard Wolff
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- Опубліковано 30 січ 2023
- Prof Wolff laughs at Home Depot founder Bernie Marcus's claim that modern economic problems are caused by workers, rather than the economic system that organizes them, and explains how these ideas come to dominate in politics.
"The big business donors in this country are more like Bernie Marcus of Home Depot than you might imagine. That's the type. And that's where these ideas that you may find bizarre come from, maybe out of the mouths of the Republicans but the idea, the source, the cause? Big business." - Richard Wolff
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Blaming Socialism for Capitalism's problems is the most ridiculous and callous thing I have heard out of an oligarchs mouth.
the best joke here is the most ardent anti capitalists are capitalists. They refute or destroy every pillar of capitalism in order to be neo feudal lords. Mock them for it. #whatcapitalism
This has been in their playbook for like 70 years now at least, it's a certifiable classic
Almost as ridiculous and deceitful as blaming capitalism for socialists' problems.
You gotta work hard… hard enough to create a profit for those who “supervise.” 😉 ✌🏼
if you don't - you are the problem!
Those who supervise were appointed by those who don't work and those who don't work are who take all the profit (stolen labor value). They do so with the state's monopoly on violence and mechanisms to legitimize this theft.
Capitalism The Turd in the Punchbowl of Society.
I wish it were that easy to avoid.
It’s a nuclear atomic turd ☢️ 💣 💩
Socialism and communism is retarted
@@JorgeRodriguez-mr8nz I don't take advice from those who cannot yet form a proper sentence.
@@JorgeRodriguez-mr8nz Your comment is one big lemon!
The ironing escapes you. LOL!
I just read a comment from another elderly gentleman on LinkedIn. The post was about "people want to work for an employer that respects them". He argued people are lazy and that their employers are not their therapists. They need to work hard and earn their respect. Must be a socialist idea that we're humans wanting to be seen as humans and not tools to make money. Can this whole machine self-implode already?
"Must be a socialist idea that we're humans wanting to be seen as humans and not tools to make money"
the absolute fucking hypocrisy on display here is just peak socialist. its amazing. you bitch and moan about the big mean capitalists not treating you like a person, but instead just as a tool to make money, yet at the same fucking time you do nothing but treat employers as just tools for you to make your money, through wages. damn near every socialist policy you people whine for is "force the employers and other wealthy people to give me x because it's what i deserve!". tell me, what does that sound like? does it sound like treating the other person as a human, rather than a tool for your own benefit, or does it sound more like treating them like a tool to make you money?
the big meanie capitalists are ones treating people like humans, by saying the employer owes you as much as you owe them; jack shit. in other words, equally.
but im sure im wrong, and youre not even remotely a hypocrite, so the next time your employer offers you a raise, you won't accept it, because taking more money from your employer simply because you can is nothing more than the greedy capitalist pursuit of profits, and you would NEVER condone such a thing
It's easy to say stuff like that when you started working back in the 60's back when wages kept up with the cost of living, there was employer loyalty, job security, pensions, and he probably raised 5 kids on one factory income.....🙄
Always funny when big box retailers blame socialism, when almost every item in their stores is made in a socialist country. 🇨🇳
Well said
BOOM ;) yup.
eva heard uuuh ~~NAFTA~~ MY FRIEND!?!?!?!?! kernel wild Bill Klink-ton, and his posse
sure made a mess outta American Business and the work-farce~!~
No no, China is always capitalist when it's stuff that they like.
It isn't totally socialist but, it's more socialist than any country except for perhaps Cuba or Bolivia.
I feel so bad for his workers that made all of his money for him.. what a jerk bully.
Imagine treating the people who made you wealthy like this.
People dug their own grave without knowing it!
You could pick any home depot worker's name out of a hat completely at random and i guarantee that he has never worked as hard as them in terms of intellectual or manual labor a day in his life
The concept of socialism that the social productive power of society enables people to become more than a detailed worker relegated to one occupation as a prison sentence for life is an idea that will come into its own when the working class decides its had enough of being a slave to capital and capitalism.
The bloated gangrenous pride of the Bourgeoise.
I may borrow this phrase.
@@ralphtalarico618 Have at it!
And people will nod like good little slaves and say that he is correct. This is disgusting.
Bernie is correct. This guy and Democracy Now are one ingredient in the Socialist-Marxist cocktail you and many like your swill like heroin addicts after another fix. SMH
@@jereuter01 Thank you for proving my point.
People during the black plague thought they were being punished and that blood letting was the way to go. There's also flogging ones self upon breaking a rule as prescribed by many religions. Impose harsh enough economic conditions, and at times you will find widespread support by the people suffering from those conditions, for even harsher economic conditions. It's common to harshly punish ones self.
But you can see right now, as is even evident with the right, they no longer worship most of these capitalists. They can see the problems that have and are being created. I don't believe status quo has a long time left.
@@gallectee6032 I think daily blood-letting and flogging will cure the oligarchy.
It could also solve our donated blood shortage... until we run out of oligarchs! LOL!
Lemmings.
Here's an idea: let's implement a global tax on the billionaires to the point where they don't exist anymore. And if they don't like it, then they can just leave. Simple as that.
He is an idea. Lets come up with stuff no one will ever implement just so it makes us look like we are anti-establishment.
🚀
@@peterstafford4426 given up already? Don't go after ideas, that shows you are defeated and have given up.
@@rjung_ch Huh? You dont want actual workable solutions.
@@peterstafford4426 Call me a dreamer, I do have hope for humanity, even against all odds and facts. To be cynical is OK, I am bad at seeing it though.
As a "new" conservative i am embarrassed by what this person said, I am a huge fan of richard wolf as well though i dont necessarily agree with his views sometimes but i greatly respect and he makes me a better thinker thank you !
There is no place for Capitalism in a Democracy.
Well, he’s 93 years old and lives in a bubble, frightened of losing stolen goods.
Thank you..this is such an exhausting up hill battle...you seem to be tireless
Mr. Marcus could give each of his workers $10,000 toward a down payment for their first home (call it a grant program) after their first 3 years of full time work and I bet he would have a significant number of people clamoring to work for him and working hard too. Problem is the wealthiest people don't want to give a penny to the working class.
@ProgGeek That's quite the understatement, they pay zero or next to zero in taxes overall. Some of them even receive tax refunds despite record profits year over year.
He is the man who defend his class just like any other and blame others,people see their own psychology
Wish good times with struggle to Professor Richard Wolff
The spam reply is more relevant than your illiterate, broken English comment.
In other words, money is power.
Professor Wolff, can you do a program about the curious phenomenon of big business getting behind 'saving the planet', 'sustainability' and 'net zero' and could it be, that yet again a great transfer of wealth from the working class takes place. Not giving real improvements to life,, but instead a theater of future clean air, clean water, while we race into the opposite destination . I understand that household garbage intended for recycling now goes to landfills because the countries to which the garbage was being exported to, now have stopped accepting such cargo. But no-one tells the well meaning consumer this. Perhaps these ideas will be of value in youe future content.
Through politicians the wealthy get the ideas out to the public.
That guy is rich….and at the end of life.
Sounds like Marcus needs his afternoon nap
News flash, it's those at the bottom of the pyramid scheme that do all the heavy lifting.
Meanwhile....
In 🇨🇳🇨🇳🇨🇳🇨🇳
Poverty is gone
HSR & MRT is everywhere
NEV is popular
5G coverage at 99.99% in the biggest 100 cities.
"5G coverage at 99.99%" you say that like it's a good thing
@@desktorp
It is a good things!!!
Money can’t buy smartest
That guy Marcus should be reminded it is thanks to workers he is rich.
That's right and schools teach our children to be employees instead of employers period
Thomas Hartman and Robert Reich both have plenty to say about the egregious nature of the politics of the corporate billionaires. Might as well add Bernie Sanders and A More Perfect Union to the list.
3 rich jews walk in to a bar and ask everyone else to pay for their drinks
This guy you're talking about is just sliding the Overton Window further Right for his fellow ruling class members.
Gotta blame your farts on the nearest “dogs” yo 😡
UA-cam blocking again?
Such ultrarich likely have lost their reasonings, their moral autonomy, and the fact that they can't live for ever to use their money as weapon. World is moving towards understanding that extremes of the rich and the poor needs equilibriums to sustain a civilised life.
They never had such to begin with so they lost nothing.
We have corporatism.. not capitalism.
Monopolies, cartels and corporate capture of the state are the most competitive things a business can do. "Corporatism" is the end result of free market competition.
Lenin's _Imperialism: The Highest Stage of Capitalism_ is primarily about this transition, which you rightly observe, from genuinely competitive industrial capitalism to monopoly/finance capitalism. He describes the most important mechanisms and tactics, including economy of scale, manipulating prices to drive out smaller competitors, capturing supply chains, etc.
And if there are two equal capitalists, the one who buys the state beats the one who doesn't. That leaves the corporatist. And the cycle repeats, becoming ever more toxic.
@@rsavage-r2v The end result is the same as communism. A tiny percentage of the population controlling the majority of the wealth and authority. Economically speaking, the only real difference between a corporate and communist structure is that one has a de facto centralized, planned economy while the other is de jure. The results are effectively identical.
Corporatism = capitalism and all roads of capitalism lead to fascism. The whole "iTs NoT ReAl CaPITaliSM" has been debunked a thousand ways to Sunday. Same with the rest of your dogmatist delusions.
@@user-gz4ve8mw9l Corporatism or 'corporate capitalism' is closer to communism than capitalism; it's collectivism. China for example could be described as 'state capitalism' which is a similar form of collectivism. ("iT's NoT ReAl CoMmUnIsM")
Fascism (with a small "f") is merely the merger of state and corporate powers, which again, is effectively the same result as any other form of state collectivism.. as opposed to Fascism with a big "F" which was a specific Italian political party.
At any rate, capitalism and communism are 2 sides of the same shekel. The difference is that capitalism begins with prosperity that people have actually lived through, while communism promises utopia that never materializes. Every communist revolution gets stuck in what Marx referred to as the Dictatorship of the Proletariat and ultimately refuses to advance to a classless system in a homocidal effort to consolidate and retain its own power.
There is only one form of socialism that works and that's why it's not allowed to be practiced.
Stop being powerless. These people don't have superpowers. They aren't invulnerable. Been time to rise up for a long time.. The Hamptons is not a defensible position.
Their day is coming.
Tell you what they fucking cause WW3... you and I can meet up and go hunting.
Bernie Marcus is just projecting.
As the old saying, "You can't teach an old dog new tricks." too bad Mr. Marcus.
The quote: "Fat. Lazy. And, stupid." -- is wanted, not what is or has ever been true. No business owner (billionaire or not) wants to contend with a lean mean fighting machine (unionized or not). Can these workers even manage a star ship like the USS Enterprise (NCC-1701)?
How can he blame socialism for the working class? The only socialism we have in this country is for the rich.
There is no such thing as socialism for the rich. It is correctly called fascism.
I CANNOT beleive he said that, IMPOSSIBLE. *Ashkenazi Jewish* people dont talk like that about their fellow gentile Americans!
Maybe that Marcus fella should go and work on some heavy freight train runs to see what kind of work some Americans are doing, with decreasing safety measures, longer working hours, and standard of living. All while these rich financial criminals get richer.
Capitalists Blaming socialism on the poor. The mental gymnastics. He just said 1% get socialism threw corporate captured government Poor get fascism threw capitalism corporate captured government.
@@TheBigGSN5 so why are vaccines publicly funded but entities like Pfizer get to privatize the profits? Why does quantitative easing exist, why was it used to bailout private companies for poor business practices? 🔥🤔🔥
There is no such thing as "socialism for the rich." It is correctly called fascism.
There is no such thing as "fascism for the poor." It is correctly called fascism against the poor.
Not buying there anymore
Boycott Boycott send a message to Bernie
Time to blame him for gouging the costumer
LMMFAO! This channel has more spin than the teacup ride at Disney!
That's because the government Kool-Aid you've been drinking has destroyed your brain cells and you don't even know what the truth is anymore.
you work for rent but you could build a house for 10k because you have to buy a septic system. and build a hose that cost 250 k you could use an incinerating it then you would.
1 pay all the taxes/ fight all the wars
2 buy all the product
3 produce all the goods/ designed manage
4 provide the capital for all industry by paying rent. thats where the banks get the money not profit from earnings
because. you buy a house on interest. you loose all your labor taxes goods because you do not control anything and they manage it. that centralizeds wealth which is what builds all those skyscrapers thats wealthy people. demonstrating their wealth thats how many of them there are from doing this.
most of your earning go to paying off fake bills like interest. utilities rent insurance thees things are easily provided for much more cheaply. but since we doubt control the control this is the system they use and thus get all our wealth . they say it ok because they provided the capital as owners. no we provided the capital as renters . think about it. whats your biggest bill rent. who built the house a bank loan. when weas the house paid off years ago how much does it cost now plenty where does that money go to capital where did the money to build the house come from. from rent so why do they own everything. we do it all. that the bottom line. we can build houses. affordably for 10k as such we can keep our rent and invest ourselves. be the controllers keep the wealth and bring sanity not genocide to the universe. if you wan tot commit siuicide to be the master race then go ahead but be warned. I will meet you on the field of battle it is not safe for you anymore and your paymasters kill you when they dont need you robots anymore and flee to the remorte island of the moon to kill you from there an unreachable place by time you realize and. ask for help it will be to late and I will enjoy watching all you genociders die .dont ask me for help.
Unrelated question but does Home Depot sell rope? 🤔
lol he is actually kind of right. So the billionaire i mean.
Shows what these dogs think of us proles
I find it astounding that people are blaming socialism for what is being caused by capitalism. It's just amazing how stupid most Americans are about the financial system. Of course if they really knew about the financial system there would be a lot of people hanging from the Lampposts!
The minimum basic income idea would allow Americans to benefit from "progress". Alaska pays it's citizens for oil being drilled from it's land. Similarly, the minimum basic income would pay all Americans for these natural resources and the advances achieved by internet modernization.
Exxon Mobil just announced they made a record profit of $56 billion dollars last year. I wonder how many government programs (not including defense) cost that much combined in 5 years?
I agree with everything except the slight perception of putting Biden out of the problem. Biden Administration needs to be fought for the exact same reasons. They are no different than the republicans when it comes to obey Big Business.
Thank you
can one leftist youtuber content creator whatever explain me exactly what a socialist world with todays technology and all that would look like??? im a leftist myself and I get asked this quite often but always have to give them my own opinion how it would look like... problem is im dumb in this department.
Dude, you are worth billions. How much more do you need? And yes, some workers are fat, lazy, and stupid. But how many slim, hard working, intelligent owners and workers of local and regional lumber/hardware stores had their lives destroyed by your predatory business model?
I think the professor should watch his language. When you say this fellow is "worth" so may billions of dollars, you are implying that he has intrinsic value of that amount. Far better to say he "owns assets worth" so many billions of dollars.
Another thing. My investments don't earn anything. What I invest in may gain value over time. If this is so, wouldn't it be more accurate to call my "earnings" from my investments "gains" instead?
Well, the working class in the US pretty much fits that description. You can read the comments on Yahoo! or here on UA-cam and see just how clueless most US workers really are.
im not here to get up at 5am and pay the bills of other people.
so no to socialism.
If youR fiRst name is BeRnie, I suggest you changE youR name.
I million seconds=11 days. 1 billion seconds = 32 years. It truly astonishes me how so many people allow billionaires to exist while so many have nothing
We don't have to let them live, ya know? At what point do we not clearly see they don't see us as brother, or fellow citizens of the same nation. They see us as the enemy.
Your just an expendable number, easily replaced for next to nothing do he can keep up his lavish lifestyle whole you work your Butt off and live on peanut butter and jelly sandwiched.
Why are people fleeing Venezuela
he's not entirely wrong
How is he even partially wrong? We're always up for another good chuckle!
The fact that the United States has so many trade deficits is proof of their cerebral incompetence
@@Bovine_University93 Thus proving Prof. Wolff correct and not wrong at all.
I guarantee not one person on this thread that wants socialism and thinks it's better than Capitalism has never started a business from nothing and employed people.
100% spot on.
Well, Professor Wolff has run a few successful businesses.
@@rsavage-r2v Successful under Capitalism
You can't start a business from nothing as in LITERALLY nothing. Most especially under a capitalist(fascist) system.
@@user-gz4ve8mw9l 😆🤣
Off to Lowe's....
Worked at both Lowes and home Depot. I'd rather work at home Depot.
You think Lowes is any better? LOL!
When socialists look at socialist states, they see a field of manure with a rose growing in the middle of it and they say, "Look how beautiful that rose is." When they look at a capitalist state, they see a field of roses with a pile of manure in the middle of it and they say, "Look how ugly that manure is."
Not at all. Even the very flawed socialist experiments that have existed so far, despite incredible opposition from the capitalist world, have raised standards of living for more people more quickly than any other event in human history. Russians were living in log cabins using hand tools in 1917, and Sputnik was launched just 40 years later, nevermind that they destroyed the majority of the Nazi army along the way. Food security, literacy, basic amenities and shelter, women's rights, all of these increased tremendously throughout Eurasia. Plus all the liberals in capitalist countries were able to get great benefits and unions in the mid-20th century largely because their capitalist rulers were scared of the Soviets.
Look at India vs China. Very similar histories and circumstances. Today China can feed its children and India can't. Actually even North Korea is getting better than India at feeding people, despite incredible adversity.
The USA exports weapons and death, Cuba exports trained physicians. East German women reported more orgasms than West German women because they never had to sleep with a guy just to keep a roof over their head. I could go on and on.
Marcus is what America is all about. Satisfy a need...all stuff for housing under one roof... and America will reward you. Kudos to that guy who's helped create 500 thousand jobs..
Marcus is what America is all about:
- not paying a living wage
- restricting working hours
- opposing labor unions
- growing his wealth by playing shell games disguised as philanthropy
@@krejados1 Living wage. So funny. How come we keep hearing that from workers??? How would they be able to complain if they were dead???
@@chuckleaf8027 Handy as you are with Wikipedia, why don't you look up what a living wage is?
@@krejados1 The market sets the wages, not mushy bleeding-heart, commies....
@Roger McMillanCool story bro