Here are the timestamps. Please check out our sponsors to support this podcast. 0:00 - Introduction & sponsor mentions: - Skiff: skiff.org/lex to get early access - Indeed: indeed.com/lex to get $75 credit - Onnit: lexfridman.com/onnit to get up to 10% off - Blinkist: blinkist.com/lex and use code LEX to get 25% off premium - Linode: linode.com/lex to get $100 free credit 1:52 - Marxism 10:21 - Communism 45:27 - Human nature 57:43 - Economics 1:04:34 - Capitalism 1:36:58 - Governments and corporations 1:47:53 - Stalinism 2:01:52 - Nazis 2:08:48 - Socialism vs Marxism 2:16:28 - Bernie Sanders and AOC 2:33:29 - Cultural Marxism 2:40:28 - Darkest moments 2:45:58 - Advice for young people 2:48:17 - Mortality 2:52:08 - Meaning of life
Here’s a interesting read I wrote 2 years ago The Mandela Effect is a side effect to another reset For the top physicist to say our reality is the same has computer code they must be changing it, they certainly are not looking down a powerful microscope and seeing ones and zeros, so that means we are in a matrix which would mean that there is a hard drive, now in the experiment in showing water holds memory I believe I know where the hard drive is to our reality, in the experiment a listening device was used to record the electromagnetic field coming from the water to later reconstruct the DNA that was once in the water from the recording, this told me magnetic fields holds memory so that made me think is our hard drive in earth’s magnetic field? I got my answer seeing what looks like magnetic frequencies being created by SpaceX and CERN with there powerful magnets being turned on and off in sequence exactly the same way a computer stores data. That is not all that I’ve worked out so if I’ve sparked an interest and you want to know more check my videos out it’s an hard one to get your head around in understanding our reality but basically what we believe to be physical reality isn’t actually physical, it’s all a frequency from a frequency domain and we are part of this frequency, physical mass doesn’t exist and what we believe to be solid mass, everything including ourselves is just a frequency in the holographic universe, holographic universe that is made up of computer code in ones and zeroes, we are in a program and there’s a way of manipulating and changing the program within the program and that is what I believe is to be the earths magnetic field which Is actually the waters above the firmament magnetic field, and with water being proven to hold memory I believe I’m correct, my research has taken me somewhere I didn’t want to go and that is a reset of the human race because I believe a higher dimensional being doesn’t what the human race on par in technology in controlling of the matrix, at the moment I believe all the changes to our reality is a side effect to them weakening the firmament with theses chem trails to create another mud flood or even worse create a plasma charge that will disintegrate everything on the surface. There is evidence that the earth has been hit with plasma discharges and this is how they could do it. >>> The part on sonoluminescent is a star created in a flask of liquid, it done by sound waves hitting a bubble and causing the atoms inside the bubble to move which creates friction and friction creates heat, the heat causes the bubble to swell to the point of popping, they say when the bubble implodes the atoms in the bubble slam together so violently they create a burst of light, I don’t believe that is all of what is happening, I believe yes the bubble swells from heat of the friction of the atoms from the vibration but when the bubble reaches a certain size it pops like a balloon would, but what I believe is happening that creates the plasma is the highly negative skin of the bubble which is EZ water, slams into the positively charged atoms inside the bubble and when a negative charge and a positive charge comes together, it creates plasma ie electricity, and the electricity creates the EZ water which is the skin of the water, you see I believe the firmament is this EZ water because a high voltage was sent through water and a 4 cm bridge was created, if the voltage is there to scale this 4 cm bridge up to the size of the dome I believe it would become the impenetrable dome, I believe the firmament is just water that has restructured from H2O to H3O2 and is shaped into the strongest shape in nature, the hexagon shape, above the firmament is H2O and there is bubbles where sound waves creates stars. The reason for me explaining all this is, in my videos I have shown how chem trails is weakening the firmament, well I believe the next stage is for 5g has well as HARRP is going to heat the atmosphere up to make the dome swell and pop just like the bubbles in creating stars, if this was to happen you would have all that negatively charged water slamming into the earths positive atmosphere and it would create a burst of plasma that would disintegrate everything on the surface of the earth. In the Bible it does says the earth end by fire so I’m wondering is this how it is going to be done? I know in operation fish bowl they fired Nukes at the firmament in the 50 and 60s so it does look like there is a barrier that they are trying to penetrate but was unsuccessful so I believe all theses top secret programs like HARRP, CERN, chem trails and now 5 G is all about creating a reset by popping the firmament because I believe the human race is very intelligent and reaches quite high in technology very quickly. In the last 100 years just look at what we have discovered but before that not really that much was discovered because there was a reset has early has 120 years ago, my town hall is a mud flood building and 1873 is carved in stone, so that means that there was a flood that dumped 12 feet of mud after 1873 and that accounts for the progress that we see in the last 100 years. So yeah I believe we reach high in technology extremely quick and I believe we actually get held back has much has they can and they have to keep creating resets to prevent us from reaching their level. Sorry I’m rambling here. Meteorite and shooting stars I believe a part of the negatively changed EZ water comes of the firmament and reacts with the positive atmosphere and creates a ball of plasma, when that one hit Russia there was a lot of white clouds left from it, white clouds like steam, it didn’t look like there was any other elements in it with the lack of any other colors, different colors indicate different elements and there didn’t see to be any other than H2O or should I say H3O2 Anyway if you have read this far I hope it was educational and you enjoyed it, watching my videos will make sense of all this for you. With the flat earth there’s a question that is asked quite often, why would they hide the shape of the earth? My answer to that is it is hidden because they use the waters above to create resets to prevent humans reaching their level in knowledge. I know there’s a lot of belief in this write up and my gramma isn’t perfect but that’s because I didn’t go to school which is a good thing because if I did my thinking would be completely different,.?.
Nice job Lex. The only way we can get a full spectrum understanding of a topic is to get both sides of the aisle. You always get your capitalist cheerleaders but often on the mainstream, those with conflicting and contrarian views (like Wolff) get suppressed. I guess it makes sense considering who controls the mainstream media narrative
Mandela Effect Johnathan Bardsley dude that's amazing. I really think you are onto something. You should dig deeper. Maybe let Lex know about that stuff and talk about it on his podcast.
If you export people on some remote island, the first form of organisation is property and capital and they can go very well in the development of living with trading and free association. Marxism, socialism and communism always comes after all things are established, it is an idea born into the existent structure and since it is an idea with no underling fundament, it always works on victim mentality. For short is the child that once grown and starts working into already set environment, turns back on his own father and mother, usually kills them to seize the ''power'' that he can do as he see fit. The lack of understanding of the underlying structure of COMPETENCE it will be his doom and the society will collapse on lack of that. The child has no experience in trading, investing capital, organizing, know how and establishing good relationships with the neighboring islands. And how could he? He was born into it all. I see communism as the tantrum trowing kid that want's to be validated in more privileged position, uses ''the idea of equality'' as a tool against the tyrannical hierarchy he is burn into (father / mother) and all of it is fueled by vanity and revenge against the ''unfairness''.
What I really like about this interviewer is that while most people who interview Wolff already are sympathetic with his views and arguments, even while usually having nowhere near his grasp of them, Fridman asks respectful but challenging questions, and gets great answers we normally don’t get to hear.
@@sichambers9011 yeah, that's true. What this guy is talking about is so often dismissed without even listening by just saying "Marxism is when the government decides who lives and dies" or something equally as pointless. I think Wolff did a half decent job of explaining what Marxism is and what it isn't. Lex pushed back with the general arguments that people usually have when they hear the ideas, and Wolff explained why those arguments aren't necessarily great. My personal opinion, as an employer myself, is that employees should have more say about what happens with the surplus, because all I'm really risking, ultimately, is becoming an employee again. I do take risks, and use my capital to turn a profit, but I don't agree that my risk is more simply because I'm risking more capital, because all that capital really does is allow me to employee others rather than become an employee. How much say should the employees get? I don't know, but it shouldn't be what it is now, because the current system encourages me to pay as little as possible to stay competitive, and that competition doesn't breed fairness like Lex suggests around 1:20:00 . like he said, that's the dream, but it's just that, a dream. How many employees does he really think have the opportunity to shop around for jobs that treat people better? I think its good to speak about better ways of doing things rather than just saying "this is the only way" like so many people do. This is the current way, but it's certainly not the only way.
@@trybunt The thing is here in the UK and I think in the US the system is coming under repeated challenges and unfortunately the elites desperation to cling on to almost absolute power, is increasing the instability and damage. The UK and US have some of the most unequal power and wealth distributions in the West and the most hostile towards unions. In the long run the refusal to examine the questions you've posed will hurt all of us, employers included. Here in UK the elite cannot even countenance the idea underpaid employees damages the economy of the whole society. It is verboten amongst all major political parties.
@@trybunt as an employer I don’t know how you can say the things you say: Maybe in your particular situation you don’t have much risk, but most businesses require if not upfront borrowed money, high monthly overhead. So if the business declines you need to go into debt to keep it running and pay employees. That often involves using assets as collateral, so if the business ultimately fails, the employer is now left with terrible credit but also likely no house or anything else. That’s much more than the risk I incur as a hourly employee. Business slows down at my job, I can simply find a new job. You also said employees should have more of a say with surplus. Most employees aren’t qualified to be making business decisions on a large scale. Also they are usually going to be self interested to an extent, which is completely understandable, but that can definitely lead to poor long term decisions. And even in the situation you have an employee who is a master at business and completely altruistic, it’s unreasonable to assume they could handle their tasks they were hired for and be completely informed with all the business matters needed to be known to make proper business decisions. And maybe you don’t agree completely with Wolf and you think there’s just smaller improvements and reform to be made. And in that case be specific about what you propose. What your doing, what wolf did all podcast, and leftist do almost always, is just say real nice things that are extremely vague. And even when they are specific about things, their premise, logic and/or plan is flawed. An example is Wolf talking about a business getting technology that cuts the employees needed by 50%, the employer should not lay off or lower salaries, but instead keep everything but let them work half days. That is idiotic! Another co-op company can just be started with less employees and utilize that tech to sell the goods at a reduced cost which will put original company out of business thus all employees now lose job. Technological innovation is why price for most goods has been consistently dropping, which is a direct advantage to the quality of life for everyone. I do believe we are fast approaching the point where automation will create a situation where there simply aren’t enough jobs for a massive segment of population, and we will need to figure out how to adapt as a society. I’m not smart enough to come up with those answers, only smart enough to call bullshit when I see it
@@Jasondavisvids keeping employees on working half days is idiotic, I agree, but we have to acknowledge that it's only idiotic in the system we live in- which prioritises value of product for money over everything else. I'm not saying that we should do that, only that it's worthwhile discussing how much say people should have about the surplus they create. Should it be 0%? Let me suggest an alternative, just so I'm not being completely vague as you criticised- what if all our employees voted for what to do with say 20% of their surplus? I don't just mean our employees, but our competitors employees also. Everyone everywhere for arguments sake, so competition remains equal. For my employees, I admit I'm not a huge company, but that would be about 30k they have to decide what to do with between them. Now, would they like to simply use that surplus to have more time for themselves, a 9 day fortnight? Maybe. Or would they like to have free lunches, or better tools for themselves to be more productive? With the current system, the only incentive to be more productive is to not get fired, or maybe get a raise. Employees are incentivised to do as little as possible to keep the boss happy. I hear a lot about ideal workplaces promoting the most productive workers, but we have to be realistic. I think most people can agree that it doesn't always work like that, I don't think its most the time. Productive workers keep employment, that's it. But if they control some of the surplus through democratic process, suddenly they have incentive to think about how their job could be more productive, or how they can better measure individual productivity, because there are benefits they can directly receive. Should the least productive workers be let go? Or the workers who breed discontent? Suddenly that's a question that isn't directly on our shoulders, or a manager working for us, because everyone has some small say. Currently, 100% of the surplus is owned by the business owner. It's like that simply because that's how it's always been done. But there is no good reason to think its the only way or the best way. And there's no good reason to think that we deserve 100% other than the fact that it's what we've always done. It feels normal. I feel like I earn the profit. At the moment, I want productive workers, but more than anything I just need to grow my business to stay profitable. Most of my profit goes into buying tools/plant/hiring employees to get more work done, but that infinite growth requires infinitely more work. That doesn't seem reasonable to count on. It works while our population grows, but what about when population stabilises? Will our current system still be the best way to organise our society? I don't think its idiotic to consider these ideas. I just think that the way it's currently done puts competition first and the employee last. The only consideration is how much value we can bring with the least amount of money. We need healthy employees to get that done, but just healthy enough to he profitable. Just happy enough to be profitable. You say that we take risk, most companies probably more than me, but like I said before, worst case- we are back being an employee, right? Bankrupt, back at square one.. but what if that position wasn't so bad to begin with? Why should it be? At the end of the day, we aren't going to do this right now, maybe it's not the right thing to do, but I don't think it should be dismissed simply because it would make the market less competitive, because we've tried maximum competition for the last century, and it hasn't solved any of the problems inherent with capitalism. It's worth considering other options.
Can you have Yanis Varoufakis next? Probably the most interesting and articulate leftist economist/politician/intellectual of our times. And he's got a pretty concrete vision of what could come after capitalism/what capitalism is turning into. Either way, really cool to see you platform some truly dissenting thinkers, thanks for the plurality of ideas.
@Smally Bigs I find Yanis to be one of THE most interesting Left Global Economists... He literally worked at Valve (Steam) to look at their marketplace and learn from it... It was a microcosm of an economy, and he literally made economic predictions and models about CSGO Skins and TF2 Hats, and the prices, as well as which items were "pegged" as standard priced assets.. INCREDIBLE story.. It was in a very well made Indie YT Doc about Valve and Yanis Varoufakis just HAPPENED to come up in it and it went into pretty deep detail about his role at Valve in shaping their Steam Marketplace... Well, not shaping but studying and giving feedback to Gavin at the very least, as Gavin hired SPECIFICALLY Yanis after he left the Greek Gov because he saw what the Steam Marketplace was about to become. That's not even mentioning the fact that I could somehow listen to him talk about the Bretton Woods Conference for 4 hours, engaged the entire time.... Learning something I've NEVER been told before, damn near every time he utters a sentence.
@@rexnemovi6061 Six times in my 72 years I was put in a position to take quick action or make excuses for not being capable. Six lives were saved. Thank the Lord that I did, by the power of our creator. None ever thanked me, or put me up on stage--- thank the Lord. I did not take action in order to be seen as a hero. I learned much about myself AND especially about others. False is most popular in the world. People freeze-up under pressure. Some, not all. Six situations--- 100% success. It could have been 50%--- then what?
@@carefulcarpenter We're talking here about two very different issues - it's one thing what an individual can do in a specific situation and what a country or society can get done over the long term. As for individuals, time factor is a major issue. It's a different thing if one failed to react quickly and effectively enough to a suddenly appearing threat, as opposed to chosing not to act when there was enough of time to make an informed decision. Depending on the personal cost of helping, you can judge the morality of not helping, but I'd think it over the top to call it evil. Evil to me includes intention to harm. Now, as for what society can do, it is way too simplistic to say that something could have been done and wasn't. The developed Western world invested untold billions into lifting people around the globe out of poverty, and a lot has been accomplished. Now, from the point of strictly technical and technological capacity, it's pretty safe to say that more could have been done. But in the real world, where to get something done takes communication and coordination between many players and organizations, there would be hickups and outright screw-ups even in the best case scenario where each partner is fully engaged, earnest and honest. And sorry to say so, but many are not.
@@rexnemovi6061 Evil is a tough concept to wrap our heads around. Who suffers? In my case, I did. My family and I both---- but damage is subtle, and extremely difficult to examine--- particularly difficult with just one fleeting moment. Long term--- I have acted when others in the community did not lift a finger. Who was punished? My family and I. It is subtle but patterns arise over time. Is suffering fair? From an intellectual point of view? From a spiritual point of view? This is the compound nature of inaction. Synchronicity is a spiritual/psychological concept that seems to develop into more frequent events as on follows the spiritual path. The intellectual path is more difficult to argue. The intellect has a very difficult time trusting what others report about synchronicity--- even when they have experiencedvit--- though the intellect never truly blieves it comes via a higher moral and ethical habit.
Not sure why a high level academic is required to thoughtfully debate or interview someone. Anyone that is enamored with shaping society via government/state is making an error.
@@dominicn The other day I was driving and a young man hanging out of the car next to me, held us his pair of sneakers and yelled "buy these, buy these!" There are some people you can't enlighten, and you can't control... otherwise we'd have our marxist utopia. I don't think that makes his analysis of capitalism incorrect, as almost all his predictions have come to pass. But the dream of a better system, gonna be tough with all the stupid out there.
Wanted to second an earlier comment about encouraging you to invite Yannis Varoufakis, an endlessly entertaining and engaging economist (and former finance minister). Good work.
@@saidalas8381 Varoufakis vas ready to fight with the people against the Eurocrats, for the second coming of the Big ΟΧΙ. Tsipras was not. Mitsotakis and the rest of oligarchs are on the side of Eurocrat banksters.
true... lex really showed how good he is at understanding such a wide range of various ideas and models of the world.. also being extremely patient and humble
I have a lot of respect for both these men. Prof. Wolff very passionately forwards his case, to which I think some strong arguments were made. Lex had excellent push back questions great interview overall.
You don't have to agree with another point of view, to respect and even enjoy a really masterful elucidation of it. And how much wiser we are afterwards.
Marxism seems a reaction anti elitist , not unlike peons against feudal overlords . Oh well unless the workers get enough shares to direct the business the future looks same old rich will reduce value of input by workers cost less and less.
You should definitively get Chris Hedges on the show! Talk about the military industrial complex, journalism, morality and society. I would love to see you talk
Yes, Chris Hedges as well as Lee Camp and Peter Joseph. Those would be tremendously engaging and informative conversations. I like discussions about the root economic problems but I also like to hear solutions so that's why Camp and Joseph would be great guests. They have some good ideas that a lot of people can understand and take action with.
@@xDemonTech Credit to you for knowing of these fine people. Until or if they actually do get on this podcast, there is still Lee's Moment of Clarity and Joseph's Revolution Now! Inspiring and with some humorous levity included - because we need a little bit of that in the current clown show we call human society.
Lex is the single most open minded thinker podcasting right now. For that and his diverse profile of guests, I would consider Lex a very important cultural figure, especially during a time of extreme polarization.
Joe Rogan was that role before Lex, and I don't think he truly has changed much in the regard of diversifying his guests. I think Rogan wouldn't have had Wolff on because it wasn't exactly his interest, whereas Lex would have a guest as such since he would find Wolff's ideas more interesting.
I relisten to almost every episode and sometimes immediately. I also listen to over 200 audio books a year so I’m kinda an audio junkie. I think this was caused by some sort of dopamine release back when UA-cam was first released… I swear. I’m addicted and I don’t wanna stop either. It’s scary. Our future is so 🤷♂️…
I asked Mr Wolff, beside missing the major flaws of Marxism and other similar '''...ism''', do you bring simple solutions to todays problems, that almost everyone can agree on (beside avoiding you in public, like you said). Like DÉCENTRALISATIONS AND Semi-Direct Democracy (the Swiss model)!!! PROSPEROUS and PEACEFUL I not saying that the Swiss banks should not be nationalised and given to The People, therefore DECENTRALIZED! Or are you simply part of Yale controled opposition?
Murray would embarrass Wolff. Wolff's ideas work on a factory level of workers but crumble in the face of data. Notice he ducks hard debates and pivots around any questions.
@@rockstar450I doubt that in a debate about Marxism, a university professor on Marxian economics would get embarrassed by a dude who doesn't even know/understand what Marxism is
@pavlenikacevic4976 Murray understands Marxism far better than this clown and actually well travelled to several states communism has destroyed which always happens because of human nature. The government builds a cohort around them, protect themselves and let the people starve and silence them with force, censorship or both. Everything Wolff recommends already exists in other capitalist economies, just not in the USA where capitalism needs better regulation, not replacing. Ask yourself, have you ever purchased a pool table for your coworkers? Do you donate your disposable income to the poor? ...why? Because you're a human, not the imaginary figment of a socialist utopia like Wolff recommends. His models work in a town full of factories but crumble in reality. Socialists are too busy looking at the richest 1% instead of the other 89% who's standard of living is unmatched thanks to capitalism's flexibility where people underpressure will adjust and reinnovate their sectors to rebound, unlike communism which just collapses. Just look at gay rights and female rights in capitalist counties comparatively.
@@pavlenikacevic4976 you are a flat out wrong, and I would love to take your money, but Wolff is too much of a coward to ever have substantial actual debates with people.
@@negritoojosclaros Elon who has lithium mines in South America and Africa that work on child labour Musk? Elon who lays off half his workforce Musk? Elon who tortures monkeys and paralyzed people for his neuralink project Musk?
I think Mearsheimer is a con-man personally, but I suppose in the age of Trump we have to live with a few of them. Perhaps we always have. russia lives under one now as I type...
This is one of the best interviews I have seen with Professor wolf this far. Bravo to the host for being adversarial, yet open for a complete and thoughtful answer. You have earned my sub. I look forward to more videos.
Lex is very capable interviewer. That is proven by these cases where he does difficult interviews like this with elegance, patience, and in a way that we can enjoy.
Richard doesn't understand that most entrepreneurs start with nothing. Instead entrepreneurs take huge risk that produces something of value for society and creates employment.
@@extremeresponsibility that's not really where Wolff is coming from. He was noting the profound lack of acknowledgment of risk on the side of the worker.
Maybe it's just me but I'd like to see less generic "Thanks LEX, great interview Lex!" and more comments engaging with the actual content of these interviews. Not that Lex isn't deserving of the praise (he is) but we could be collectively using these spaces to explore interesting ideas from the interviews but instead we get 1000s of comments contributing nothing getting voted to the top.
@@iblus2225 it was more a commentary toward an actual critical fanbase and less circle jerk. But obviously, I strongly disagree with your assessment of the conversation.
@@iblus2225 watching it again because I'm trying to see what you see.. But I mostly see wolf immediately becoming contentious and then not engaging with Destiny's response to his arguments. He kinda does the "I'm an expert, who are you?" thing. So why even show up to the conversation?
I found this interview really interesting. I've been wondering about capitalism and its flaws for a long time. Richard Wolff mentioned about the concept of democratic capitalism which sounds like an improvement. Having working for 38 years in small and large corporations I have experience first-hand what goes on. I remember one of my previous CEOs saying "this is not a democracy" and "if I could reduce the minimum wage, I could employ more people". I remember the middle managers trying to out-manoeuvre each other, stabbing each other in the back, sucking up to their bosses. I remember the huge ratio in salaries between the board of directors and the employees. And whilst all this in-fighting went on, the mega rich are laughing at the workers whilst they sit on their huge piles of capital.
@@RockPile_ he keeps asking these questions that seem to ignore what was previous talked about. Like when lex is asking questions about government vs corporations as if they aren't 2 sides of the same coin.
From all the channels that claim to have free and open discourse, Lex is one of the few real ones out there. Even the topics that create a visceral personal reaction to him are open for discussion. His honesty in the opening segments let the viewer know in which way he may have biases and why they are there. It informs us on what we should be aware of in the conversation and encourages us to engage in a fruitful way. Many channels claim to be what Lex is, but in reality they are a propaganda networks disguised as free discourse. Lex isn't like this. He actually puts his money where his mouth is.
He's an open thinker for sure. I just hit pause after his opening lines "...the words socialism, Marxism and communism are more often used to attack and divide..." Lol. He's missing something. I've been immeresed in Marxism lately and divide and attack is the name of the game. The first thing you do as a Marxist is divide society into classes and attack the elites. I dig Lex's stuff and i like hearing this professor, but i think one will grasp this topic better if you don't think like an engineer, but think like a gangster. Read Lenin or Alynski to see what I mean. Peoples openess and honesty are used against them. Check out Manning Johnsons book 'Color, Communism and Common Sense' or Ion Pacepa's book 'Disinformation' to hear the other side.
@@bigghouse101 What we have actually seen historically in the US is quite the opposite. We've seen the demonization of any idea that doesn't toe the corporate line with the immediate and incessant shouting of "but that's socialism and socialism bad!". Even earlier in the 50's we had Mcarthyism where we looked for "hidden Marxists" everywhere as if they were boogymen. It was ridiculous. It has been fragile capitalists in this country who cannot bear to have their ideas questioned even in the slightest who have been dividing society. Any time capitalism causes economic problems, it's never the corporations who are at fault. It's immigrants, teachers, poor people, the government (who the corporations corrupted in the first place). ANYONE except who is actually causing the problems.
@@misterbig1510 I think your missing a few things. 1950's Marxists everywhere - look up former KGB Col Oleg Kalugan brag about the KGB having over 300 agents in the US Govt. It was 300 some to zero on the scoreboard until 1956 as far as Kalugan is concerned. Look up the Mitrokhin files, they've got Alger Hiss's pay stubs. That's just a start. As far as fragility, who bans books? The Amercans, or the Soviets and Chi Coms? Ever notice how the micro aggression crowd accuses everyone else of fragility? Even Lenin said socialism sucks, but that you have to endure it to reach communism comrads, so just keep believing. Marxism isn't a economic or political system, it's a crypto religion.
@@bigghouse101 you tell on yourself with your comment. Mcarthyism was a witch hunt, plain and simple, and if you unironically believe in it still in 2022 you are a weirdo. Also, it is quite literally conservative state legislatures which are banning books teaching plain history because anything that talks about civil rights is "crt". Don't even get me started about the ridiculousness that is the manufactured outrage over Dr. Seuss of all things (this sounds like parody but is real). A private estate chooses to stop printing intellectual property it owns on its own free will, and that's cancel culture, but the actual govt bans books, and that's somehow not authoritarian, real cancel culture. Laughable. I actually do not understand how someone can get every single point directly backwards from reality, but you've somehow managed it. It's honestly impressive.
@@misterbig1510 you're making things up. State legislatures didn't ban books. You've got it wrong, otherwise tell me what books were removed from bookstores? CRT? Break down Kimberly Crenshaw, Derek Bell or Max Horkheimer or you don't know what you're talking about. 😉 You're not one of those people who believes the "its just teaching about racism" line are you? Ever heard of Critical Theory, you know the Frankfurt School, "You can't use the masters tools to disassemble the masters house" etc etc? School me on CRT, I want to see this. Break it down for me Mr Big
After discussing Marx at some length Mr. Wolf mentions Anarchists Proudhon and Bakunin as competitors to Marx. At around 1:47 he goes on to discuss workers cooperatives, which is an idea Prouhdon advanced as part of his criticism of Marxism. I am sure Mr. Wolf knows this history better than I do, and would love for him to speak in depth on the interplay between Marx & Anarchists in terms of the evolution of thought on social and economic justice.
An interesting thing to think about is that on letters to Vera Zasulich Marx actually advocated using the Mir in Russia (traditional communal towns) as the way to build the new society, but Bolshevism and the USSR didn't take that route, they may of not known that those were Marxs feelings. I don't think it is fair to say that Marx, Bakunin and Proudon disagreed about everything, but I don't know the specifics on cooperatives. Radical leftists of all stripes have long used coops and collectives.
An interesting thing to think about is that on letters to Vera Zasulich Marx actually advocated using the Mir in Russia (traditional communal towns) as the way to build the new society, but Bolshevism and the USSR didn't take that route, they may of not known that those were Marxs feelings. I don't think it is fair to say that Marx, Bakunin and Proudon disagreed about everything, but I don't know the specifics on cooperatives. Radical leftists of all stripes have long used coops and collectives.
Lex's audience seems to lean heavily to the right based on the reaction to this podcast. Pretty disappointing reaction for an apparently intellectual audience. Either way, Wolff is a genius and one of the few speaking out against capitalism.
^_^ Bernie Sanders lied about Nordic nations being socialistic, when they themselves said they're capitalistic not socialistic, and are proud to be capitalistic, leaders of the world. I used to support Bernie Sanders. He also had other issues with him in recent years, besides former years supporting war, signing the infamous Crime Bill Biden founded. Which Biden said in his presidential campaign that he would reduce prison population of America, the prison capital of the world. Over 50% of the American prison population is in for a very safe, medicinal herb, which is always medicinal when used, that hurts Big Tobacco, Big Alcohol, Big Pharma, and others. We have our fake and super profitable "drug war", while warmongering America mainly goes to war for GOD, Gold Oil Drugs.... Moreover, Biden now is encouraging more prisoners, since it's an over 10 billion industry in profit for prisoners. Prison is a system that isn't rehabilitating, and many get into heavy drugs, fights, rapes, murders, infections, etc. in there. Also, pedo is grossly misused, as it means to be mostly, or solely attracted to prepubescent children (not pubescent minors in a world where most people died before 18 and the brain fully develops at 25 lol). Many actual pedos have been proven to have been abused themselves. Anyways, I'm a centrist, pro-capitalism, but we have crony capitalism, AKA crapitalism, AKA corporatism.
I'll add my voice to the chorus in congratulating you on yet another great interview, Lex, but what I'm perhaps most impressed with at this moment of your podcasting career is your AUDIENCE. I thought for sure on seeing the title of this interview that the comments section would be a flame war, but would you look at all of the polite and thoughtful discussion here?! It's a real credit to your selection process on whom you choose to interview. By insisting on a broad swath of guests from across the ideological spectrum and a variety of different subjects, you really do allow your listeners to broaden the edges of their own thinking in a way that so few media outlets do nowadays. I'm sure you bear the brunt of more than a few rude comments here and there, but the listeners that stick around really do reap the benefit. Kudos, and please do keep it up.
For a Lex audience member to comment I think they have listened to show which is -not combative - I too Am impressed. The show is a guideline for conversation and a way to learn
absolutely. we all know the system is dying, we need to get serious and thoughtful and respectful of views outside the status quo. Lex is doing great work!
" the system is dying" There are more than one, and they aren't exactly dying. Change for the better or else many will suffer? Certainly, and that risk is always there. But an unprecedented population of 7.5 billion says otherwise to the 'dying' thing. Some systems have some (chronic) infrastructure and most have (temporary) supply issues. Self-extinction has gained near-equality of likelihood as any other threat, which you can choose to be horrified by OR find somehow re-assuring. Up to you. Indeed this species has been outrageously DOMINANT, still is, and doesn't hardly know what to do with itself besides fuck fight and party, for the most part. We build and build and then ...."uh, well time to have a new war and build it back up again when it's done!" Rinse, repeat. _"And thaaaaat's Dialectic!"_ Cheers :)
Such an interesting discussion. So long and yet it went by so quickly, for me. I plan on listening to it again (and perhaps more), as the first time was accompanying other tasks I was performing.
The amount of patience required to talk to a “professor” like this is beyond me. The guy seriously thinks there is no difference in risk between opening a company and taking a job. He is just not part of reality in any way, impossible to argue with.
I love the whole vibe of this channel. I feel like Lex always makes his videos more about his guests and less about him. He asks very deep questions and gives his guests ample time to speak. Other shows often try to make their interviews into a debate.
Lex is great. Richard wolf though is in favor of socialism. Which is always a special Ed stance. Why would anyone be in favor of allowing the government to force you into trades you don't want to be part of and don't benefit from. The part of capitalism that all these fools ignore is that it's a VOLUNTARY system of trade. This means both parties have to mutually agree to the trade. Thinking something is wrong with VOLUNTARY trade is the either the definition of totalitarianism or stupidity
I'm a regular subscriber and this is the interview I have enjoyed the most. Well done Lex for daring to cover a taboo subject and not shouting down the ideas, It didn't seem like 3 hours at all it was so interesting and clarifying. Thank you!
@@williamhaddoc LOL I know. Rich liberals LOVE to wear their Che shirts and quote Mao. Richard Wolfe speaks of Stalin glowingly all the time. When asked about the tens and hundreds of millions of dead he’ll shrug it off. Pretty much you have to break a few eggs to make an omelette is his position.
Ye, and also false. It's a White Wash and also vulgar marxism, which the young marxists have abandonded in favour of cultural Marxism... they always lie, they only desire power.
@@williamhaddoc :I think i's both. The fact that Trump would dismiss Bernie as being as "Commie" was an example of what the word has become a repository for. On the other hand, the fact that Bernie had such a groundswell of support shows t's becoming more and more mainstream. Wolff himself speaks about both in the interview: citing how it's avoided and ignored in US universities and then ending with that wonderful account of how he's having the times of his life, giving 3-4 interviews a day compared with how he previously 3-4 a year.
What a very interesting and enlightening conversation. I very much enjoyed this. Thank you Richard for your persistence in your perspective and belief, and thank you Lex for providing the platform for such an enriching discussion. ✌️💚
Im a life long construction worker and I gotta say, he’s making a whole lot of sense. Two of my coworkers died on the job over the past few years and we get paid shit wages. Hell, I live in a damn trailer. My brains glitching… I think he turned me into a “Marxist”.
You should start a worker run construction cooperative. Many places even offer grants and loans to start a business like this. The nice thing about capitalism is it gives people the choice to run a business in a variety of ways. In socialist countries there is no such choice.
There isn't a hands on labourer I know in the UK who's a leftist. Over the years we've all seen the unions halt work in different sectors, fucking it up for everyone else. They all recognise it for what it is; an emotive push to exploit while accusing the other side of what it is they plan to do. Wages might be shit but you get none when you strike, and if you don't strike with the rest of your "comrades" they persecute within their own ranks. Don't let Wolff fool you. He uses a lot of rhetoric without any substance.
Very good! I'm an economist and more to the right, but I think it's very interesting and valuable to understand Marxism. I really enjoy how this is a channel where great thinkers of different perspective can converge. Like an antidote to MSM. Keep going and keep growing, Lex! Much love from Sweden...
Of course it’s very valuable, especially to see its manifestations in Leninism, Trotskyism, Fascism and National Socialism. They were all Hegelian spawns and originated from Marxism. Giovanni Gentile and Mussolini were both Marxists until they realized that tribalism (translated into ultranationalism for their purpose) was the key, the Trojan Horse to take down the castle of capitalism and lead society into collectivism. Of course they failed as central planning never ends well. Lex is indeed doing an excellent job.
@@theMuritz it depends on the American. There are Americans that would think of Sweden as far-right because it has no minimum wage laws. That is IF they knew about that fact.
@@C_R_O_M________ Let me tell you guys, You are doing a great job with this. You're pretty good! Without the "far-right Swedish" part it would be flawless. Idk if it's just me, but I'm aware that in some specific countries, calling someone a far rightist or a nazi is the meanest thing you can say. While in America, is not a big deal. Mostly because the average American doesn't even know what it is. Sweden is wildly known for their leaning towards multiculturalism. I hope it helped
Lex brother I wouldn't ever think that you would even consider having an actual Marxist on your show let alone an honest conversation and somewhat of a back and forth but you have surprised me. I am a leftist but time to time I would listen some conservative point of view just to see where they come from. I love Richard, Noam Chomsky, Cornel West, Chris Hedges and others. Respect to you for having the balls to have a talk with an actual left wing intellectual. Thank you
@@spec24 more knowledgeable than most capitalism defenders and lex was not able to defend capitalism hard enough he couldn’t challenge him in intellectual grounds
@@KDH-br6hythis guy is part of hard left crowd. He even lies in here and says he studied math as an undergrad (he actually read history). Markets are bad, but some dude in Washington decoding is better? I like markets more. I understand them.
Lex thank you for another interesting interview and for engaging with thinkers from various perspectives. Genuine dialogue is a rare thing in our time.
I would say most of my peers would be too close minded unfortunately to watch this however I agree with you agree with you a broad spectrum of perspectives is active is terribly enlightening in so many ways it is very important, for the future of any society, to be able to comprehend the perspective active of the past experiences answers of people from all, different aspects of Experience..
I agree. Just because someone has bad conclusions, doesn't mean they don't have a ton of interesting and valuable ideas in their process of thinking. That's why free speech and respectful debate is so healthy for a society. If you refuse to talk to someone because you disagree with one single conclusion of theirs, then you close yourself off to any potential ways of working together, and we need to work together or this civilization thing stops working. I happen to know that communism and socialism are far inferior in terms of net positive impact to people in the long run, that doesn't mean I don't agree with MANY of this guy's criticisms, observations, and ideas
@@CaliforniaMan13 if socialism and communism is inferior, how do you explain the collapse of the US economy and society in general? How do you explain the complete take over of government by capitalist and things only getting worse? Why is none of these capitalist stepping up and trying to save the planet from global warming but instead spending their money on trying to get off the planet?
Every time I listen to Wolff I he ends up with multiple appeals to authority to determine the actual distribution of goods, currency, power. He never answers the question of what a democratically run business would like if you consider the human quality of avarice which would, without fail, take the form of the most efficient "company" of workers continuously sacrificing both wage and time in an effort to gain power through the increased availability of say, a chair, to many more people due to a lower price per unit. Competition takes place in a fractal manner, at all levels and at all times.
I can’t stand Wolff but worker cooperatives are a great model for certain businesses. I worked at one for 7 years and it was mostly great. It was a brewery which works well because it is fairly small, the jobs are easy to divide and the business decisions are not relatively critical. The problem is they don’t innovate well or expand/grow. For example I don’t think a company with a new product could succeed as a cooperative. Too many cooks in the kitchen so to speak, no direction and no vision.
@@fuckamericanidiot Wolff also refuses to even address the tribalism that is arguably the biggest part of what drives people to perform better at one company than another. Capitalism allows for greater levels of production to be based on nothing more than wanting to be part of the winning company. This is also what drives the sole proprietor to try to take on the Goliath competition. Tribalism, competition, greed, avarice, sloth.... these are all things that are many times at the foundation of what drives individual people and progresses technology.
@@adamjarvis1654 Yup. Nature is certainly an irritating obstacle to him. Just like the question of cultural differences and influences are an annoying obstacle to the wokeist ideology/religion.
What I love most about you interviews, Lex, is how you allow your guests to develop their ideas in a depth one rarely finds outside the very best books.
@@tenmanX I disagree. Rex generally asks for clarification of well-known words to insure the understanding of those who do not know the field to the depth you do.
Thank God, thank God for this interview to somewhat counterbalance the Bezos atrocity. Not to detract from Lex' superb conduct of either; the latter just casts such a dark flare-up.
@@C_R_O_M________ Well it’s a completely different school of economics. Modern neo-liberal Friedman-style economists are entirely concerned with growth and capitalization. Whereas the Marxist economist is entirely concerned with human history as determined purely by material factors and the struggle between classes. The vital difference: Wolfe does not prescribe socialism to “grow the economy” but rather to transcend the economy… with the ultimate aim of ending exploitative power imbalances.
During the financial crash in 2008, Lehman Brothers went down. Over 2000 lost jobs in that bank and their CEO walked away with 8 millions and he opened a consulting firm. Who should be held accountable, Lex?
Oh my my, Lex!!! People lost jobs and they invested 20 years of hard work. One day, they go to work and the factory is closed. No warning signs! The entity was open in China. There are examples like this everywhere in America. You think that the corporations feel the pain. If your hypothesis is true than there would be no sign for closure in front of numerous homes across America. Just wake up and get better informed! If one capitalist like Bloomberg has 14 homes how can that person feel pain if family of five lose the only home they have.
@@austinz9310 Let's not confuse history with morality. There's what happened and there's what should happen. I think if a company goes under it's not therefore a crime by the CEO against its workers, unless the CEO single-handedly tanked the company through some kind of wrongdoing. If the CEO walks away with 8 million, first of all that's a tiny bit in the grand scheme of early 2000s investment banking, second that says nothing about what the workers walked away with. Maybe they walked away with 1 mil each and got jobs at Goldman Sachs. There's nothing in the statement that proves the CEO wronged the workers, and no one is entitled to a job.
41:30, This is where Wolff's core misunderstanding of economics is. He is absolutely confused about this so called "Employer/Employee" relationship. When you enter into an agreement with someone, trading currency for your labor, BOTH parties get surplus value in the transaction. The employer feels that your work is worth more than what they need to pay you, and you feel that your work is worth less than what your employer pays you, if this relationship wasn't present, then you wouldn't agree to work there. Let's say you're a chair maker, and you make chairs for a chair company at $100 per chair, which they sell for $150. It might be easy to say that the company "steals" $50 of surplus value from you but this isn't the case at all. If it were trivially easy for you to sell that same chair for $150, then you wouldn't work for the chair company (or would at least be a fool for doing so). If it isn't trivially easy for you to sell that chair for $150, then you have to acknowledge that the chair company is in fact providing services and resources that you are incapable (or unwilling) of matching on your own, therefore they are not "stealing" surplus value from you, they are actually doing exactly the same thing you did. You started with wood, and through your labor made a chair more valuable than the materials you used to build it. They started with a chair, and through marketing, branding, salesmanship, and shipping, ended up with a chair more valuable than the chair they started with, they added value just the same as the laborer did, but through different means.
53:09, Why would Wolff even bring this up, no Economist with a Capitalist bias would ever say that there is a relationship between effort and value. The "Labor Theory of Value" that Wolff alludes to here is a Marxist view of value, and it is objectively wrong. Your labor, just like every single other thing, is worth what it is worth because of supply and demand, your time and effort are completely irrelevant. Dwayne Johnson isn't the highest paid actor in Hollywood because he works the hardest, he is the highest paid because hundreds of millions of people want to pay to see his movies, and there is only one of him (high demand, low supply). Fast food workers aren't paid poorly because their jobs are easy, they are paid poorly because they are easily replaceable, and there is a large pool of unskilled laborers who don't have the skills or experience to work elsewhere.
@Yo Momma Define exploitation. The carpenter charging you more than what the wood cost him? The lumberjack selling the wood higher than what it cost him to acquire it? The tree not getting a cent? Marx was a spoiled rich child who never worked a day of his life, it's goddamn hillarious some braindead people take him seriously like a guru of economics.
@Yo Momma The cost of tools and materials isn't "non-negotiable" because in a Capitalist society there is competition. Also you ignore other non-product benefits an employer could potentially provide, like a network of established customers, or an established relationship with a supplier that allows the company to provide a resource, such as the paint you might use in your chair example, at a special or discounted rate. This is also due to competition. The business owner COULD run a non-profit, but if he makes no profit then what is his incentive to do anything in the first place? Because he has a passion for making chairs? What a joke. Communism is rooted in emotions, rather than the reality of a marketplace. Nonody was rich before doing anything, even those that inherit large amounts of capital tend to lose it all in just a couple generations. You talk about the employee position's weakness but you ignore the weakness of an employer that doesn't offer reasonable benefits and thus has no skilled labor to sell his product and make a profit. It's always a two way street you can't just ignore one side.
Basically, most people don’t know to be fair with others. Its a very basic concept yet we fail at it miserably. Until we figure this out we’ll forever be chained to classism.
The free market addresses fairness much better than the elitism and arrogance of academia and corrupt government power. It's ironic that their virtue signaling and corruption ends up exaggerating unfairness.
I think the idea of the invisible hand is describing this dynamic. As it is an average of people asking too much and too little from one another on a case by case basis.
It is the west ideology of individualism, no religion and LGBTQIA+$/woke that has destroyed the family unit and therefore the community. A tight-nit family running a business together always end up doing well. There is a reason why Jews are so powerful. They work collectively within a system designed for individual economic participation, hence not participating and skipping the class/hierarchy aspect. Essentially, working as a true collective is like a cheat code to defeat the capitalist system. You need a family for it to be honest.
you're conflating human nature with capitalism like he mentions in the video. slavery was considered human nature - there was a "natural" hierarchy of races, africans were "naturally" subservient to europeans. Kings/Lords were "chosen by god" (the same argument) to be superior to serfs. Put side by side, both appeared to be self evident in their time. Serfs couldn't run a fiefdom. This isn't human nature. They're products of the social order that appear natural because the social order reproduces itself. @@northernmetalworker
The "freedom" To switch to a different employer is complicated by things like health insurance and pre-existing conditions. If somebody has a pre-existent condition and decent health insurance at a job they hate, there are much less likely to move jobs because of the health insurance related reasons that may exist with the health insurance offerings at a new job. That is to say they may or may not be able to get insurance coverage for a medical condition. This is a huge problem.
In our current society there is a glorification of "negative freedom" (the lack of someone putting a gun to your head and making you do something) at the expense of "positive freedom" (the ability to do what you want without fear of dying from disease, starvation, exposure, all the things having money protects you from). It's important to realize that a society needs both for all it's citizens to be considered at all just, and capitalism requires no positive freedom for workers in order to remain functional.
Marxist definitions fail under scrutiny. The labour value model considers a new cook as equal to an artisan chef. Tell me what that does to productivity
Maybe it’s just me, but I would love to see a three-way discussion with Prof Wolff, the one-and-only Michael Malice and Lex discussing capitalism and its effect on society, and what could and even should be done better. Thanks for a wonderfully thoughtful discussion, Lex 🙂
I agree. And then this guy would be called out for conveniently leaving out some very fundamental math on how a business really works. Particularly a small business with 10 or 20 employees. This guy is nuts imo
@@beingjohn392 Small businesses legitimately practice capitalism he is really saying communism has been distorted to authoritarianism (russia) and people turn a blind eye to corporatism and the collusion of big business and government. He then argues that communism has been scapegoated in a way to anything going against big business and argues for a decentralized communism where each person has a vote instead of a couple board members and then touches on nepotism where family of capitalists get higher positions and money without being qualified. He touches some good points I personally believe in free market but he has opened up our thoughts on things especially the USA view of communism.
I love the US, this is my home. But I am not blind to the shortfalls of this country. There will always be the elite and working class, the haves and have nots, whatever you want to call it. It will exist in socialism, it will exist in communism. It will always exist no matter what we do. What makes the US great is that if you level yourself up, you can level up your life. I'm 31 years old now. I didn't actually start being a man until I was 27. I decided to take control of my life. Borrowed money and started going to therapy and a psychiatrist. I started working harder, being more productive at work. Started learning new skills. Ended up moving across the US and bought a house in cash. I was a loser until I turned 27. String of failed relationships. Couldn't keep a job for more than 6 months etc. I happened to be lucky that i got into IT at a very early age, and that did help me quite a bit. But to be honest, I have friends who were mature at the age of 18, started with a part time job at walmart. Now they're store managers making 6 figures, way more than i'm making now. I'm jealous in a respectful way. I'm very happy for their success. I'm more jealous that I didn't learn from them sooner and take control of my life like they did. I turend my life around in 4 years. Its never too late. And that is what makes the US great. If you're willing to put in the work and make yourself marketable, then you csn achieve anything. Also wanted to throw out there that i'm now engaged, to the most wonderful woman in the world. I don't think i would have been able to do this under any other system other than capitalism. I'm not saying capitalism is perfect. Its not, not even close. But it sucks for the same reason why communism (which i like in theory. Its my favorite in an ideal world) doesn't work. Some people will rob you. Some people will exploit you. Some people are just degenerates. And those people will break the system. There are some people who are okay with being the have nots, and don't want to work their fsir share. We can't control that. But we can allow opportunity for those willing to work. Just food for thought. I'm not really here to argue with anyone. I'm a free american. Believe and chase after what you want. This is just my two cents. Take it or leave it, haha. Salaam to you all.
56:15 - It was not Hegel who first said that, it was Heraclitus. "No man ever steps in the same river twice, for it's not the same river and he's not the same man."
@@factsmatter6980 Tell me you didn’t listen to the interview without telling me you didn’t listen to the interview. Wolff *clearly* refuted at least two dozen conservative talking points against Marxism and socialism.
@@ericd9827 refuted? He is telling you what he thinks and why but that doesn't make 100% of what he said true. Is his way of looking at an issue, he is yet to prove what he said. Which Idk how he would since Economics and markets shouldn't exist.
@@claudiapastorahdez6177 Did we listen to the same interview? Wolff repeatedly shared *facts* that refuted the silly conservative caricatures of Marxism and socialism, not mere opinions. Of course, this is not to say that there are no serious criticisms of Marxism and socialism; there are. However, this discussion could serve as a ground clearing of nonsense that makes way for serious discussion, which, alas, doesn't seem to interest most contemporary conservatives. They'd rather stick to their straw men, since they're far easier to knock down.
I'm a conservative Republican and I've gotta say, Mr. Wolff here is fascinating to listen to. I could see him being a great teacher. I wish I could take his courses. I've never heard Marxism explained from an actual Marxist professor. It sings to a much different tune than what we hear in media. I appreciate this interview Lex. I will be looking more into this guy.
I’m a hardcore leftist and I say good for you friend! You would probably get a lot from Professor Wolff’s UA-cam channel Democracy at Work - he and other literate, fun-to-listen-to smart people also discuss other ways that capitalism affects society and mental health and how and why it should be improved. You might also find the economist Yanis Varoufakis an enlightening listen. Peace, friend
@@xaelserpent No offense my friend but have you watch Fox and Newsmax lately? It has turned our party into a fascistic cult for Trump. Want to talk about manipulation, it's time my side took a look in the mirror.
@@xaelserpent look everyone, the worker has fallen in love with the system that exploits them! Sorry bud, you're the only puppet bootlicker here, worshipping your oppressors and you don't even realise it.
I've watched this video thrice and given it a lot of thought, seriously considering all the arguments. And I'm so impressed by Lex. He is willing to interview anyone in good faith. Even the mentally ill.
@inteljumperxx yes, one of many possible conclusions. Its my opinion and I'm not asking you to abide by my standards. Everyone can have a different opinion. I'm just saying that I withheld holding one until I was sure. And yet I reserve that i can still be convinced otherwise.
@@DicePunk I’m just trying to help you understand how ignorant your opinion is, although I applaud you for watching a video with someone whom you don’t agree with.
You could also argue the western capitalist system we live in around the world isnt real capitalism. Capitalism should be about a free market with lots of small business competing against each other. This in theory should keep prices low and markets fair with everyone thriving. However large corporations have formed in countries and around the world. They crush and squeeze out small Business and control what happens in those markets. In New Zealand where i live. There are only 4 or 5 big supermarket chains in the courty. They are all owned by the same two companies that are from australia. They can charge what they want because they control that market and can crush anyone that tries to compete with them. I still see capitalism as the way for a country to move forward. It creates competition and innervation. Although yes, people are left behind. I spend time in the military which i would compare to communism. An officer class that dictate what you do, although they dont know how to do it themselves. Rules and reulations for everything. Everyone getting paid the same. People werent willing to speak up if something was wrong. They would do the bare minimum because someone else will do it and they didnt get paid any extra. Where as now a work for a small business operating a digger. It was started by two brothers afew decades ago. Its now run by thier sons and employees 15 20 people. They have done well because of a good reputation and the quality of work they have done. Globalization and coportations are the problem. I find it hard to believe Marxism is the way to go without there being any examples of it doing well. If it looks like a dog. Barks like a dog. Its a dog.
@Down with Corporate Amerika The market system has vastly more protections than in Marx's day. You say there have been no responses, but many of those protections are responses.
@@josephalbatross5961 not when the argument is that markets are perfect, the best arbiters, & should be left to themselves. As a free marketeer would say. Conversely, it can be argued that the fact that protections are needed validate one of Marx's core insights, that capitalism is inherently unstable and prone to crashes.
Wolff is an extrovert and Lex is an introvert. The two are able to produce good synergy. Jordan Peterson’s interview of Camille Paglia is similar extrovert/introvert synergy. This is why introverts and extroverts can be attracted to each other. They’re able to strike a good balance in conversation.
This is the best interview of Prof Wolff I think I've ever seen. I don't know anything about the interviewer. I came to this likely because I've watched so many Prof Wolff lecture videos on UA-cam. Anyway, the questions were insightful. The interviewer was knowledgeable and probed hard, and did not allow slack or pitch any softballs. I will be watching more of these.
Richard doesn't understand that most entrepreneurs start with nothing. Instead entrepreneurs take huge risk that produces something of value for society and creates employment.
@josh_hen_har my friend, if you think that is the risk of an entrepreneur, what business have you started? Only 4.8% of businesses are around past 10 years. If there is low risk, explain why. Only 9% ever earn $1 million or more annually. Why? You could not be more incorrect. I hope that you aren't afraid of learning. I challenge you to start a business today. Then put all of your energy and resources into it. The challenge is on to see if You Got It or Not.
@@extremeresponsibility you completely missed the point. He’s not arguing about the difficulty of starting a business he’s saying the risk of it is simply going back to wage labour. That’s it. You don’t die or become homeless, you’re simply back to the factory line. And what you’re describing is an abomination of what capitalism was supposed to be. Adam smith was very clear about what capitalism should be. It was supposed to be thousands of butchers tailors grocery store owners, not just a tiny portion of the capitalist class Already what you’re describing isn’t even capitalism, it’s a neo feudal relationship.
I really enjoyed this thoughtful conversation. I do wish Lex had asked this question: if socialism is so good and capitalism so bad, why did Russians live in poverty for a century while Americans enjoyed prosperity? Even poor Americans have cars, phones, AC, etc. In a Marxist society, everyone is poor and innovation squashed.
@@novinceinhosic3531 Fair point, but did that large population have freedom to speak and write, did they have prosperity? What good is a space program if you're people are hungry and oppressed?
This is an easy answer... and no russians did not live in poverty the whole time. It may take a while to type things up tho. The soviets were at war wIth the calitalist powers immediately after ww1. As well as a civil war vs the land owners (the whites). The capitalist powers supported the whites, even bolstered polands army from 80k to 700k to attack the soviets and japan, US, and britain all invaded the soviets as well. The soviets had an unindustrialized country and had basically no money, they had been shelacked in ww1. They were fked Somehow they won, but were still fked. Especially once germany regained power as hitlers book goes to show what he would do to the soviets as soon as he got the chance. Namely kill 2/3 of them and ensalve the other 1/3. The civil war lasted a long time. The great depression was basicslly what finally gave the soviets some time to breathe as the capitalists with all the worlds wealth were reeling. Once it was done, stalin went ham on trying to industrialize because he knew they would be back for round 2 (well, round 4 of western europe invading russia. Napoleon, crimea war, post ww1, and hitler). This is where the holodomir happened, but people like lex dont mention the area had god awful famines for centuries. Once farming was finally collectivized, it didnt happen again. The land owners were not nice about food distribution. Hoarded it, used it against people, etc. Stalin had went around and told veryone in like 1931, we have 10 years to catch up industrializing as we're 50 to 100 years behind the western capitalist powers with all the money. You see western calitalist powers ran ransacked china for 80% of its wealth for 100 years. That stolen wealth was used to colonize africa and for the US to expand west destroying the natives. India was randacked to the tune of like 60 trillion i believe by british capitalism as well. See, something they dont tell you about captalism and its grand effect on the world, was that it came out around the same time as the industrial revolution. Capitalism allowed for a streamlined way to use the industrial revolution to extort the global south of its resources and wealth. Back to the story, so stalin was right and hitler came crashing in killing somewhere between 27 million and 39 million (the russians have kept updating the number based on nkvd records and such and last count i believe was 39.5, whilst 27 has been recognized worldwide. The country was destroyed. Now to your question. Sorry, had to set the table. The US post ww2 didnt have any damage back home and literally had 80% of the worlds wealth as well as control of the global financial system. The US built like hundreds and hundreds of bases around the world by time the korean war had even kicked off. I cant rememebe exactly it may have been 800 by then already. They also took all of the wealth japan had stolen for themselves. Most of the german scientists. Which if you look up nazis and the standard oil, dupont, ibm, itt, ford, gm, chase bank and many more.. youll realize the US robber barons supplied the nazis with resources into 1943 (and wanted their spoils afterwards of advancememnts made in brutal war which is when theyre made most) as well as imperial japans resources until pearl harbor. Pretty shtty to supply both of those war machines. The US also had financial control of basically all of soith america, central american and japan/germany were now vassal states with tons of their bases within. Plus a lot more stuff but it will take forever to cover that. The US could absolutely ruin anyone in history. The soviets survived but it was rough. If anyone traded with the soviets, they were sanctioned. Countries were blockaded, embargoed, you name it. The US even tried to cut china off from global grain shipments in the 50s to starve then into submission (that would have made the holodomir look like childs play) but canads broke it and shipped them grain anyway. I really shouldnt have to explain much more passed that. But i kinda will. You see the soviets had been drifting further and further from the workers being in control of the means of production to the state being in control. Many today consider the majoeity of the soviets run to be state run capitalism even. One thing is for certain, folowing stalin (who was brutal but really had a tough situation that probably garnered brutality to survive against the entire western world and thus basically the wealth of the world that was stolen vs soviets. The west would have invaded militarily and/or covertly from the inside in no tike flat with hoardes of money if extremem measures werent taken) the beurocracy started to take over, much like an oligarchy in capitalism. That plus the US dumping more money than anyone can fathom into defeating them is why they had such a rough time, which is also highly eggagerated in the west. You see when say brazil or the philipines or peru or many many others didnt have food in the stores... it didkt effect the US. They were still going to wallop them with their corporations and overthrow their gov if they tried to disallow US corporations full swing at their resources. While in the soviet union, outside of st peterburg and moscow, if say poland or khazakhstan didnt have food in the stores... neither did russia. See the difference? Now the US had control over many many many countries resources (as well and near all the world wealth) and bullied them into recieving goddam next to nothing for them. The US would smash you if you tried to build refineries to made something of your resources to manufacture and actually create products and make the real money. Only the west can make real products and sell them for the actual monumental profits. Theres a reason why the global south has so much of the worlds resources while being poor capitalists. Colonialism and economic colonialism. The soviets didnt get that benefit. The soviets were actually supplying the global south with weapons to resist the US and europe as much as they could. The west would supply the ruling class with weapons and promise to allow them to remain rich and in control. The 90s in russia was the US plundering russia the way it plundered the global south. Yeltsin was a US puppet. Look up the phone call bewteen him and clinton, should give you proof. Putin actually saved the country from certain destruction at the hands of the west and its corporations. The US doesnt want anyoje to prosper (unless they have mass amounts of US military bases within their borders) otherwise it threatens its global hegemony. I probably missed a lot that could have added to the topic. Look up michael hudson the economist. Hes old now, but he makes wolff look like childs play. Plus he worked for chase bank and helped the CIA with their books beyond belief as well as with harvard spent a ton of time with the heads of all the people from each civilization in antiquity to create the history of economics. He is the brightest economist in history. He has more knowledge of the ins and outs both the governments books and a major corporate banks books as well as knowing the history of econonomics better than anyone in history. He literally just isnt wrong on anything. Nobody even remotely compares. Milton friedman had his chance at a full blown economy based soley on his throries of absolute capitalism in pinochets chile. Despite what some dubious western (corporate) sources will say (miracle economy my ass)... friedman chose its ins and outs in the mid 70s and the fking economy collapsed in 1982 without the benefit of colonialism or economic colonialism to drive it. Look it up, when did chiles economy collapse. 1982. It didnt even make it 10 years. The west and its robber barons control everything from what you learn and how you learn it to what your told via the news and how your told it. They have controlled the wealth of the world for 250 years uncontested until now. Of course theyll tell you capitalism is fking fantastic. Theyre scred to death of socialism and not being all powerful and stupid rich that they will do anything they can (with control of the western governements and everything, thus militaries) to make damn sure it stays that way. The US in the 50s-70s and china now have it right. Huge industrial capitalism and manufacturing, huge socialist reforms, huge effort to keep people from becoming so wealth they can buy the govermement (and everything else as well) and huge effort to keep financial capitalism to a bare fking minimum. State controls necessities and gives them to its citizens without an owner claiming massive profits off the top for themselves every step of the way. Still have business' and individuality without the oligarchy. This took like an hour to type up i think ugh... i wish greed and the only care about yourself mentality BS didnt infect society so bad.
Criticize everything, offer no alternative that works better, deflect from any pushback using anecdotes of capitalism not being perfect.....a true marxist.
@@n8_t8m This seems to assume all companies are large and all companies already exist. How are you going to vote a new business into existence? Which persons life savings do we spend to start the company? Without an entrepreneur, do we just wait until some government body decides we need to start the next google? Which person is going to stay up all night fretting about making payroll with their own money because a big customer is late paying and your bills are due. How does democracy solve this? Do we just vote ourselves more money?
@@flewdefur What is amazing is how many people in the comment section don't realize how weak Wolf's points are. He claims that his claim that "Marxism is a critique of capitalism" is not known and then suddenly nobody knows that.
@@paulojose311 They are incredible weak, he's emotional, obviously filled with resentment and has an obvious superiority complex over anyone who doesn't agree from his views.
@make a wish who is going to guarentee the loan? They dont just hand you the cash no strings attached. I am a small business owner. I saved my own money for 14years to afford to buy some of my equipment. For some loans they want your personal home as collateral. An LLC or corporation wont protect you from losing what you put up as collateral.
12,000 comments wow. Lex I've followed Dr. Wolff for some time now. I always enjoy the passionate, and uniquely entertaining way he approaches the subject of Marxism, and related subject matter. Great interview Lex !
@@kevinbeck8836 Plus Peterson is an absolute mess these days. Would be amazing to see if he practiced what he preached and got on top of his mental health issues.
@@kevinbeck8836 I was thinking the complete reverse. Here you have Mr Wolff espousing for hours how socialism is superior to capitalism to someone who had his family die to the systems this verbose idiot espouses at length. You can tell by Wolffs tone that he has gotten away with this because he is a bully, not because he is an intellectual.
I recommend having Thom Hartmann as a guest. He is one of the few left wing radio hosts that has succeeded over the last 2 decades - his knowledge of history is impressive. Thom has on Wolff a few times a month.
I've never heard of this podcast or the interviewer but I was pleasantly surprised at how well it was conducted. I'll subscribe based on this. Keep up the good work .
Every Critic of Capitalism always leaves out the third leg of its definition: It's to create the best product possible, by spending the least bit of capital possible, by PAYING THE HIGHEST WAGES POSSIBLE>
I'm a bit shocked by many of the positive comments regarding Wolff. I appreciate his willingness to have these types of conversations/debates, but if you've read his work...seen his debates/conversations with people who challenge him, you will walk away with a very different opinion. His arguments are that of a first year grad student.
@@nicmri He's probbaly referring to the Destiny debate. That was a dumpster fire. Wolfe came in pretty combative off the start, but you can understand why when Destiny espouses some hot shit takes. Either way, both of them have value in conversation. Its just a shame some people can't have a calm, good faith conversation with opposing views.
@@nicmri his debate with Gene Epstein was worse than Destiny. At least with Destiny Wolff responded to him, Gene was so far out of his league that Wolff couldn’t keep up and just falls back on his over-rehearsed rhetoric.
As a free market libertarian, i found this fascinating. The dispassionate exchange of ideas in an atmosphere without sensationalism is wonderful to listen to, and just lets you ponder what has been brought up. I don't buy everything he is selling, and the fact that he honestly considers an AOC administration a possibility gave me a brain tumor, but he does make some interesting points and shows some history that we never really learn. Thank you for a tasty interview.
Yeah, the “can’t step in the same river twice” thing didn’t come from Marx’s “teacher”….unless Marx was VERY old indeed. That quotation is actually from Heraclitus, who lived about five centuries before Jesus Christ, never mind Karl Marx.
Big deal, he misquoted Hegel 🤷 Read, study and understand all three volumes of Capital before you shit talk Marx, otherwise you're just a fool talking out your @$$.
Big deal, he misquoted Hegel 🤷 Read, study and understand all three volumes of Capital before you shit talk Marx, otherwise you're just a fool talking out your @$$.
Thank you for the work you are doing Lex. It’s a breath of fresh air to here ideas discussed and debated in a long format. I believe what you’re doing is extremely important. You’re blossoming into one the the best interviewers we have today, keep up the good work.
This is amazing. I have been convinced that i really had no idea what Marxism really was. Ive read the books, ive talked to all these Marxists and i always assumed i wasn't smart enough to understand the books and the Marxists i spoke to weren't smart enough to explain it... I am now listening to the world expert on Marxism make the same smooth brain, fairy tale, semantic, gold medal mental gymnastic arguments ive heard at nauseum. Marxism really, truly is nothing more than a strawman argument to capitalism. It has no actual solutions to the strawman arguments it makes. Wow.
Well said. I think if you follow their logic, you end up with massive expansion of government power, debt, printing and war. Which is exactly what we're getting from the swamp!
So then, you fell incredibly short of understanding his analysis and rather than recognizing that failure to understand and identifying your own propensity to dismiss those elements of the topic which you are failing to connect in a cohesive way to the conclusions this 3 time Ivy league scholar is presenting to you, the public and his colleagues in academia as rational explanations for our currently collapsing society, insane rates of wealth inequality, quality of life discrepancy, diverse life expectancy ranges and highly frought political landscape.. You have boldly chosen to simply conclude that it is a "smooth-brained" & useless idealogy that has no real valuable application. Yes. There you go. Are you out of touch? No. It is the academics, intellectuals, professors, activists, and the globally embraced framework itself that is the problem. That same one that continues to be upheld in many cultures, over many periods of human development and disseminated through countless languages? Turns out- it's a load of simpleton garbage and *you* simply happen to be miles ahead of a substantial part of the globe in terms of intellectual capacities. That is of course the most reasonable explanation. Surely it must be. It couldn't be that your track record for failing to absorb the complexities of the topic in a concise and seamless way, the one you readily admit to having, is once again playing out in this instance despite hearing it from an expert. I'm just wondering.. what with that massive, throbbing, brain of yours... how has no one recognized you yet with some sort of official honor? Most superior intellect of the last 3 centuries? Superintendent of the universe? Marx-crusher 9000? 🎉😂
50:00 he really glossed over the fact that companies do pay for the risk in a way. The example he used of someone relocating for job, usually that person gets paid to move in one way or another. Its also usually a higher paying position vs the person who works locally really isn’t taking much of a risk especially if its a low skilled job. Lex brought up dangerous jobs which usually pay more. There’s definitely a huge amount of risk in being the business owner. Wolf also makes the assumption that the owner is just rich and can financially handle their company going under, thats rarely the case.
yeah exactly! I thought this answer or rather NON answer was really poor. Surely he isn't so intellectually poor that he cannot see this? Therefore I wonder if its just the consequence of being an ideologue.
What makes you think someone that works locally doesn’t take a lot of risk? Did you just gloss over what Richard said about the childcare workers? What about Amazon or factory workers. If you get injured on the job, in a capitalist world, that’s on you as the worker. Also the majority of people don’t get relocating reimbursement or stipend.
Earlier in the podcast he also glossed over the fact that The surplus product goes to every other Members of the society as a whole Therefore the more/surplus Contributes to fellow citizens in need/want That surplus
@@playea123 The childcare worker argument is just an appeal to emotion who should set the rate for childcare workers in his case then? How much should they make? This is already taken care of by supply and demand for their labour.
That idea of businesses being run by the democratic vote of each employee regarding every decision sounds like a recipe for chaos, inefficiency, and lousy products and service. Think your local MacDonalds or Ford Motor Company. Every time I watch Richard Wolff, I find myself not only being annoyed by his mannerisms and certitude, but challlenging most of his assertions in real world situations.
@@tommyanomaly6193 just because employees own a stake does not mean they own a substantial enough stake to make a difference. And when things become large scale asking the employees to make the decision based upon a democratic process is even more atrocious.
@@Irishhound Their may be a way to make it work. Obviously we already kind of have that with public companies. I've voted for corporate boards where I've owned stock before.
@@tommyanomaly6193 public companies is a part of capitalism. I have no problem with critiquing the current capitalist society but capitalism is by nature evolutionary. This is a hard concept for Marxist people to grasp but capitalism has always been around, it just hasn't always had a name.
I believe you can do whatever you set your mind too brotha don’t buy into this Richard wolf shit it’s legit scary he’s for killing people to make sushi less expensive haha he’s about as wrong and insane as it gets dawg
@@badluck5647 Yeah Lex's 'love' concept is becoming a bit of a concern. By the numbers, listening to a proponent of communism wouldn't be as bad as having a resurrected Adolph Hitler on your podcast and showing 'love' and 'empathy' for his perspective. At some point you need to stop being naïve and realize that there is a small percentage of the population who are born as clinical psychopaths. We have stacked up enough millions of corpses in recent history to entertain these vile advocates of demonstrated evil ideologies.
@@badluck5647 and why does capitalist state sudan and all the other capitalist states who failed fail? it has to be capitalism right? its the same argument.
March 8, 2024 currently 16,461 comments. COMMENTS! Number of views? 2,900,000. That's pretty impressive Lex. This interview with someone who isn't exactly well-known, and who is a Marxist, and which is 3 hrs. long, I watched all the way thru. I assume some of those others did too. This is the only place I could access someone like Richard. It's a whole new kind of "TV". Even such high-brow shows on the old PBS would never have devoted so much air time to such an interview. Say and think what you will of our current culture, and the role of technology, but this UA-cam has made a big indentation.
I'm impressed how Lex is able to ask interesting questions to such a variety of interesting guests. It is important to understand classical, Austrian and Keynesian in addition to the Marxist ideas. While I disagree personally with Wolff, I appreciate being able to hear him lay out his arguments without interruption and be asked well thought out questions with little biased showing from Lex.
You’re speaking my thoughts much more elegantly than I could have put it. I strongly disagree with this guest, but I know it’s best for me and everyone to allow him to share his pov. What bothers me is his level of education and his influence in educating the next generation. But the best thing we can do is let him speak. Great work, Lex. More sunlight.
I think it’s important because Wolf says it best Marxism stands a critique of capitalism. We have to let our sacred cows be attacked to see where it falls short and really analyze where we can truly improve or if something is a feature of the system. It’s how we progress further as a collective species.
Whenever someone says 'they disagree with Wolff' i always wonder why? Are u Rich? Is a relation of yours on Wall Street? Because people in the position of power, who are well connected and benefit from America's current system are the ones who 'will or shd disagree with Wolff'. If you live on paycheck to paycheck and pray everyday that you don't get sick because you know you can't afford healthcare, *Why would 'you disagree with Wolff?'* Brain washing is a hell of drug. Smh.
@@mikhelBrown No hate from me, Mikhel. And I appreciate your curiosity so I'm happy to answer your questions. I'll start with your 2nd question; 2) I'm not rich. I happen to be unemployed (working a lot, but not generating any income) and I haven't had income of any sort since November. I'm beyond broke. I'm basically homeless, but challenging an eviction only to prolong the process, and allow myself more time with a roof over my head before I'll be homeless in August. My car was repossessed 2 weeks ago. I'm the opposite of rich. I don't share this info with anyone and now I'm telling anyone who cares to know, only because of how much I appreciate your reply. Other than the hate you try sending, but I'm choosing to leave that, and I'm not going to send any either. Question 2) No relations of mine are on wall street. 3) I don't live paycheck to pc because I haven't received one in 7 months. 4) I haven't had healthcare in 2 years and I do have medical needs that I'll keep private. Finally I'll answer your 1st and last question: I just think his solutions are short sited, and fail to consider enough variables. Mostly variables related to how humans respond to incentives, for better or worse. That's all. Not everyone agrees with me, and I don't agree with some people. It seems you and Wolff are on the side I disagree with, and I'm sorry that makes you mad. God bless, bro.
@@JPVerc "What bothers me is his level of education and his influence in educating the next generation" > Uhh so you'd like to censor him??????? Something like this happened in this country in the 50s, it was the HUAC trials, and they were some of the most UNAMERICAN things to ever happen in this country, and might be on par with Slavery, and killing of the Native Americans. "Best thing we can do is let him speak", Oh gee your lordship, how kind of you. Stop thinking you're the center of gravity, this might be why you're in the situation you're in.
I really enjoyed this Lex, a very well orchestrated discussion with insightful questions. Even as a politics and economics graduate I learnt a lot and this is one of the clearest expositions of Marxist and Socialist theories I've ever heard. It really brings to light the amount propaganda and misinformation surrounding the subject. Thanks Lex and thanks very much Richard Wolff.
@@gwho Yes like you before listening to this I would have conflated Marxism with The Soviet Union, Venezuela and all the other examples of why Marxism doesn't work, even George Orwell's Animal Farm too. But listening to this you learn that Marx never spoke much about the State or Government intervention, it's a critique of capitalism. Which has its flaws one of which being it tends to create oligarchies that stifle competition and can be exploitative of both consumers and employees. In the UK we have the Competition and Markets Authority that regulates mergers, and prevents cartels and price fixing ETC. I never knew much about Bernie Sanders brand of socialism which Richard Wolfe tells us is based on the political system in Denmark, with its welfare state, high rates of union membership, collective bargaining, democratic and liberal government and free market economy. Was Marx completely wrong? Considering he focused only on the economy. He failed to predict , the welfare state, free education, health care, unionisation, the minimum wage, improved working conditions ETC, which you can describe as revolutionary changes in our economy and society as a whole. Also government intervention like President Franklin D. Roosevelt's New Deal - certainly not a Marxist. These type of developments and interventions may have prevented the complete break down of capitalism and an emergence of a revolutionary consciousness. Many successful businesses now have a much less hierarchical management system employee networks, unlimited holidays, agile, hybrid working, profit share, a four day working week and generous bonuses ETC. How much of these changes are simply a natural development of capitalism and how much is owed to the influence of Marxist and socialist ideology and forces that Marx identified? You don't have to be a Marxist to acknowledge the impact the ideology has had on the economy and society.
@@ayobamidele I won't deny that one can find interesting and enlightening thoughts in Marx's writing, but Marx's writing is not what "Marxim" is in the world, in fact his writings are almost inconsequential to the majority of people who call themselves Marxists, as they have never read it and only heard the repackaging of it by rally leaders and Twitter people nowadays. The rest of the world knows Marxism as the result of the actions of those who call themselves Marxists. If marxism is a great idea, but can't be implemented by humans because they ruin it every time, is it an actually feasible idea or just a fantasy? Human nature seems antithetical to allowing marxism to succeed; it's not capitalism that creates oligarchs, it's human greed. If humans were prone to Marxists ideals, capitalism would also work better because humans would have to be generally and universally more humanitarian and less competitive in nature for Marxism to work. My point is, if you are trying to shoot a bad guy, and you keep hitting and killing good guys by the tens of millions... You are the bad guy, no matter how good of a guy you would be if you could just. Stop. The bad guy.
No amount of claims about "misinformation" would make Marxism doable in this world. You'd kind of get a clue by the time it was tried for the umpteenth time. Mr. Let's Talk About Prepping put it pretty succintly. It's an ideology that will never, ever work, and I am absolutely gobsmacked that people still defend it.
@@ayobamidele FDR was pushed by the leftist of the time which were unions, communist, socialist, Marxist for the reforms to the system. He was a rich man & branded a class traitor for his actions. He very much viewed it as saving capitalism but for both the capitalist & the worker. American history is filled w American leftists that fought w blood reforms. Too many ppl think capitalists woke up 1 day & decided to do good things for workers. They fight unionization drives left & right here. Majority of things you mentioned are hardly a benefit here such as unlimited time off
I agree, but I would add that this is only a VERY short insight into the theories of Marx. Studying Kapital I, II and III is a tremendous effort, that I have yet to undertake fully, but it shows the sheer amount and uniqueness of analytical and visionary (considering his time) thinking Marx had to offer.
This guy should go to the Museum of Communism in Prague, where they explain how quickly "let's help the working class" turned into "we're all poor, hungry and forced to be silent about it"
1:08:16 - “every measure to help the standard of living of American workers has to be fought for against capitalists for decades” It never needed to be fought for. People could just refuse to work for the job at the wage and find another job. This raises the wage. Fighting for artificial raises in wages causes inflation, which distorts the market, and negatively impacts the poorest people (who are likely not the beneficiaries of those who fought for the inflated wage.) “minimum wage… blocked” Yes, because every time minimum wage is passed, less skilled workers are laid off. Usually, this is teen employment. This places fewer people in the experienced work force later on, for real jobs, and reduces labor force employees of younger ages, because they never experienced people training them how to arrive at work & leave at work on a regular schedule. We see the results of such distortions in nations like France. We also see the export of jobs overseas, every time there is an increase in minimum wage.
I would very much love a 1-1 discussion with Lex moderating with Prof. Wolff and Yaron Brooks/Any proponent of a capitalist market. That would be utterly fascinating. No antiquated debate stage formalities, just one-on-one side by side.
@@synchronium24 Yaron doesn't advocate capitalist market... He advocates Objectivism, a philosophy of life and reality which yields an emergent order of voluntarism, property rights, and peaceful cooperation. He is the only person who defends "capitalism" correctly from it's moral and philosophical roots.
@@synchronium24 I agree that Wolff doesn't defend socialism well, if only because he evades the question of how to force compliance and the basic fact that coercion as a means of collecting and distributing wealth is completely indefensible.
Prof. Wolff and Yarod Brooks have debated before, which is available here on UA-cam. In my opinion, Mr. Brooks is no where near the level of Prof. Wolff, which made their debate extremely frustrating. I do not know who would be a good pick, but a deep scholar and thinker who supports Capitalism (if there are any!) would be good to see debate Prof. Wolff.
I don’t really know much about Lex other than occasionally seeing him in clips and stuff. My general thought is that he’s a center right libertarian kind of guy but funny enough with a completely different temperament than I normally see. Seems a nice guy who actually listens, and I mean *really* listens.
I made the mistake of starting to watch this interview at 1am. I thought I would only be watching a few minutes. Richard Wolff is amazing and great questions Lex. Great interview but 4am is way too late for bed.
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1:52 - Marxism
10:21 - Communism
45:27 - Human nature
57:43 - Economics
1:04:34 - Capitalism
1:36:58 - Governments and corporations
1:47:53 - Stalinism
2:01:52 - Nazis
2:08:48 - Socialism vs Marxism
2:16:28 - Bernie Sanders and AOC
2:33:29 - Cultural Marxism
2:40:28 - Darkest moments
2:45:58 - Advice for young people
2:48:17 - Mortality
2:52:08 - Meaning of life
Here’s a interesting read I wrote 2 years ago
The Mandela Effect is a side effect to another reset
For the top physicist to say our reality is the same has computer code they must be changing it, they certainly are not looking down a powerful microscope and seeing ones and zeros, so that means we are in a matrix which would mean that there is a hard drive, now in the experiment in showing water holds memory I believe I know where the hard drive is to our reality, in the experiment a listening device was used to record the electromagnetic field coming from the water to later reconstruct the DNA that was once in the water from the recording, this told me magnetic fields holds memory so that made me think is our hard drive in earth’s magnetic field? I got my answer seeing what looks like magnetic frequencies being created by SpaceX and CERN with there powerful magnets being turned on and off in sequence exactly the same way a computer stores data.
That is not all that I’ve worked out so if I’ve sparked an interest and you want to know more check my videos out
it’s an hard one to get your head around in understanding our reality but basically what we believe to be physical reality isn’t actually physical, it’s all a frequency from a frequency domain and we are part of this frequency, physical mass doesn’t exist and what we believe to be solid mass, everything including ourselves is just a frequency in the holographic universe, holographic universe that is made up of computer code in ones and zeroes, we are in a program and there’s a way of manipulating and changing the program within the program and that is what I believe is to be the earths magnetic field which Is actually the waters above the firmament magnetic field, and with water being proven to hold memory I believe I’m correct, my research has taken me somewhere I didn’t want to go and that is a reset of the human race because I believe a higher dimensional being doesn’t what the human race on par in technology in controlling of the matrix, at the moment I believe all the changes to our reality is a side effect to them weakening the firmament with theses chem trails to create another mud flood or even worse create a plasma charge that will disintegrate everything on the surface. There is evidence that the earth has been hit with plasma discharges and this is how they could do it. >>>
The part on sonoluminescent is a star created in a flask of liquid, it done by sound waves hitting a bubble and causing the atoms inside the bubble to move which creates friction and friction creates heat, the heat causes the bubble to swell to the point of popping, they say when the bubble implodes the atoms in the bubble slam together so violently they create a burst of light, I don’t believe that is all of what is happening, I believe yes the bubble swells from heat of the friction of the atoms from the vibration but when the bubble reaches a certain size it pops like a balloon would, but what I believe is happening that creates the plasma is the highly negative skin of the bubble which is EZ water, slams into the positively charged atoms inside the bubble and when a negative charge and a positive charge comes together, it creates plasma ie electricity, and the electricity creates the EZ water which is the skin of the water, you see I believe the firmament is this EZ water because a high voltage was sent through water and a 4 cm bridge was created, if the voltage is there to scale this 4 cm bridge up to the size of the dome I believe it would become the impenetrable dome, I believe the firmament is just water that has restructured from H2O to H3O2 and is shaped into the strongest shape in nature, the hexagon shape, above the firmament is H2O and there is bubbles where sound waves creates stars. The reason for me explaining all this is, in my videos I have shown how chem trails is weakening the firmament, well I believe the next stage is for 5g has well as HARRP is going to heat the atmosphere up to make the dome swell and pop just like the bubbles in creating stars, if this was to happen you would have all that negatively charged water slamming into the earths positive atmosphere and it would create a burst of plasma that would disintegrate everything on the surface of the earth.
In the Bible it does says the earth end by fire so I’m wondering is this how it is going to be done? I know in operation fish bowl they fired Nukes at the firmament in the 50 and 60s so it does look like there is a barrier that they are trying to penetrate but was unsuccessful so I believe all theses top secret programs like HARRP, CERN, chem trails and now 5 G is all about creating a reset by popping the firmament because I believe the human race is very intelligent and reaches quite high in technology very quickly.
In the last 100 years just look at what we have discovered but before that not really that much was discovered because there was a reset has early has 120 years ago, my town hall is a mud flood building and 1873 is carved in stone, so that means that there was a flood that dumped 12 feet of mud after 1873 and that accounts for the progress that we see in the last 100 years. So yeah I believe we reach high in technology extremely quick and I believe we actually get held back has much has they can and they have to keep creating resets to prevent us from reaching their level.
Sorry I’m rambling here.
Meteorite and shooting stars I believe a part of the negatively changed EZ water comes of the firmament and reacts with the positive atmosphere and creates a ball of plasma, when that one hit Russia there was a lot of white clouds left from it, white clouds like steam, it didn’t look like there was any other elements in it with the lack of any other colors, different colors indicate different elements and there didn’t see to be any other than H2O or should I say H3O2 Anyway if you have read this far I hope it was educational and you enjoyed it, watching my videos will make sense of all this for you. With the flat earth there’s a question that is asked quite often, why would they hide the shape of the earth? My answer to that is it is hidden because they use the waters above to create resets to prevent humans reaching their level in knowledge.
I know there’s a lot of belief in this write up and my gramma isn’t perfect but that’s because I didn’t go to school which is a good thing because if I did my thinking would be completely different,.?.
Nice job Lex. The only way we can get a full spectrum understanding of a topic is to get both sides of the aisle.
You always get your capitalist cheerleaders but often on the mainstream, those with conflicting and contrarian views (like Wolff) get suppressed.
I guess it makes sense considering who controls the mainstream media narrative
Great thanks Lex for time stamps .
Mandela Effect Johnathan Bardsley dude that's amazing. I really think you are onto something. You should dig deeper. Maybe let Lex know about that stuff and talk about it on his podcast.
If you export people on some remote island, the first form of organisation is property and capital and they can go very well in the development of living with trading and free association. Marxism, socialism and communism always comes after all things are established, it is an idea born into the existent structure and since it is an idea with no underling fundament, it always works on victim mentality. For short is the child that once grown and starts working into already set environment, turns back on his own father and mother, usually kills them to seize the ''power'' that he can do as he see fit. The lack of understanding of the underlying structure of COMPETENCE it will be his doom and the society will collapse on lack of that. The child has no experience in trading, investing capital, organizing, know how and establishing good relationships with the neighboring islands. And how could he? He was born into it all. I see communism as the tantrum trowing kid that want's to be validated in more privileged position, uses ''the idea of equality'' as a tool against the tyrannical hierarchy he is burn into (father / mother) and all of it is fueled by vanity and revenge against the ''unfairness''.
What I really like about this interviewer is that while most people who interview Wolff already are sympathetic with his views and arguments, even while usually having nowhere near his grasp of them, Fridman asks respectful but challenging questions, and gets great answers we normally don’t get to hear.
Yes. It's good to have critique and it is a thoughtful critique, not cheap gotcha statements about death counts.
@@sichambers9011 yeah, that's true. What this guy is talking about is so often dismissed without even listening by just saying "Marxism is when the government decides who lives and dies" or something equally as pointless. I think Wolff did a half decent job of explaining what Marxism is and what it isn't. Lex pushed back with the general arguments that people usually have when they hear the ideas, and Wolff explained why those arguments aren't necessarily great.
My personal opinion, as an employer myself, is that employees should have more say about what happens with the surplus, because all I'm really risking, ultimately, is becoming an employee again. I do take risks, and use my capital to turn a profit, but I don't agree that my risk is more simply because I'm risking more capital, because all that capital really does is allow me to employee others rather than become an employee.
How much say should the employees get? I don't know, but it shouldn't be what it is now, because the current system encourages me to pay as little as possible to stay competitive, and that competition doesn't breed fairness like Lex suggests around 1:20:00 . like he said, that's the dream, but it's just that, a dream. How many employees does he really think have the opportunity to shop around for jobs that treat people better?
I think its good to speak about better ways of doing things rather than just saying "this is the only way" like so many people do. This is the current way, but it's certainly not the only way.
@@trybunt The thing is here in the UK and I think in the US the system is coming under repeated challenges and unfortunately the elites desperation to cling on to almost absolute power, is increasing the instability and damage. The UK and US have some of the most unequal power and wealth distributions in the West and the most hostile towards unions. In the long run the refusal to examine the questions you've posed will hurt all of us, employers included.
Here in UK the elite cannot even countenance the idea underpaid employees damages the economy of the whole society. It is verboten amongst all major political parties.
@@trybunt as an employer I don’t know how you can say the things you say:
Maybe in your particular situation you don’t have much risk, but most businesses require if not upfront borrowed money, high monthly overhead. So if the business declines you need to go into debt to keep it running and pay employees. That often involves using assets as collateral, so if the business ultimately fails, the employer is now left with terrible credit but also likely no house or anything else. That’s much more than the risk I incur as a hourly employee. Business slows down at my job, I can simply find a new job.
You also said employees should have more of a say with surplus. Most employees aren’t qualified to be making business decisions on a large scale. Also they are usually going to be self interested to an extent, which is completely understandable, but that can definitely lead to poor long term decisions. And even in the situation you have an employee who is a master at business and completely altruistic, it’s unreasonable to assume they could handle their tasks they were hired for and be completely informed with all the business matters needed to be known to make proper business decisions.
And maybe you don’t agree completely with Wolf and you think there’s just smaller improvements and reform to be made. And in that case be specific about what you propose. What your doing, what wolf did all podcast, and leftist do almost always, is just say real nice things that are extremely vague. And even when they are specific about things, their premise, logic and/or plan is flawed. An example is Wolf talking about a business getting technology that cuts the employees needed by 50%, the employer should not lay off or lower salaries, but instead keep everything but let them work half days. That is idiotic! Another co-op company can just be started with less employees and utilize that tech to sell the goods at a reduced cost which will put original company out of business thus all employees now lose job. Technological innovation is why price for most goods has been consistently dropping, which is a direct advantage to the quality of life for everyone. I do believe we are fast approaching the point where automation will create a situation where there simply aren’t enough jobs for a massive segment of population, and we will need to figure out how to adapt as a society.
I’m not smart enough to come up with those answers, only smart enough to call bullshit when I see it
@@Jasondavisvids keeping employees on working half days is idiotic, I agree, but we have to acknowledge that it's only idiotic in the system we live in- which prioritises value of product for money over everything else.
I'm not saying that we should do that, only that it's worthwhile discussing how much say people should have about the surplus they create. Should it be 0%?
Let me suggest an alternative, just so I'm not being completely vague as you criticised- what if all our employees voted for what to do with say 20% of their surplus? I don't just mean our employees, but our competitors employees also. Everyone everywhere for arguments sake, so competition remains equal.
For my employees, I admit I'm not a huge company, but that would be about 30k they have to decide what to do with between them.
Now, would they like to simply use that surplus to have more time for themselves, a 9 day fortnight? Maybe. Or would they like to have free lunches, or better tools for themselves to be more productive?
With the current system, the only incentive to be more productive is to not get fired, or maybe get a raise. Employees are incentivised to do as little as possible to keep the boss happy. I hear a lot about ideal workplaces promoting the most productive workers, but we have to be realistic. I think most people can agree that it doesn't always work like that, I don't think its most the time. Productive workers keep employment, that's it.
But if they control some of the surplus through democratic process, suddenly they have incentive to think about how their job could be more productive, or how they can better measure individual productivity, because there are benefits they can directly receive. Should the least productive workers be let go? Or the workers who breed discontent?
Suddenly that's a question that isn't directly on our shoulders, or a manager working for us, because everyone has some small say.
Currently, 100% of the surplus is owned by the business owner. It's like that simply because that's how it's always been done. But there is no good reason to think its the only way or the best way. And there's no good reason to think that we deserve 100% other than the fact that it's what we've always done. It feels normal. I feel like I earn the profit.
At the moment, I want productive workers, but more than anything I just need to grow my business to stay profitable. Most of my profit goes into buying tools/plant/hiring employees to get more work done, but that infinite growth requires infinitely more work. That doesn't seem reasonable to count on. It works while our population grows, but what about when population stabilises? Will our current system still be the best way to organise our society?
I don't think its idiotic to consider these ideas. I just think that the way it's currently done puts competition first and the employee last. The only consideration is how much value we can bring with the least amount of money. We need healthy employees to get that done, but just healthy enough to he profitable. Just happy enough to be profitable.
You say that we take risk, most companies probably more than me, but like I said before, worst case- we are back being an employee, right? Bankrupt, back at square one.. but what if that position wasn't so bad to begin with? Why should it be?
At the end of the day, we aren't going to do this right now, maybe it's not the right thing to do, but I don't think it should be dismissed simply because it would make the market less competitive, because we've tried maximum competition for the last century, and it hasn't solved any of the problems inherent with capitalism. It's worth considering other options.
Can you have Yanis Varoufakis next? Probably the most interesting and articulate leftist economist/politician/intellectual of our times. And he's got a pretty concrete vision of what could come after capitalism/what capitalism is turning into. Either way, really cool to see you platform some truly dissenting thinkers, thanks for the plurality of ideas.
Ah, yes, the man who sold out his own nation to the EU.
@Smally Bigs I find Yanis to be one of THE most interesting Left Global Economists... He literally worked at Valve (Steam) to look at their marketplace and learn from it... It was a microcosm of an economy, and he literally made economic predictions and models about CSGO Skins and TF2 Hats, and the prices, as well as which items were "pegged" as standard priced assets.. INCREDIBLE story.. It was in a very well made Indie YT Doc about Valve and Yanis Varoufakis just HAPPENED to come up in it and it went into pretty deep detail about his role at Valve in shaping their Steam Marketplace... Well, not shaping but studying and giving feedback to Gavin at the very least, as Gavin hired SPECIFICALLY Yanis after he left the Greek Gov because he saw what the Steam Marketplace was about to become.
That's not even mentioning the fact that I could somehow listen to him talk about the Bretton Woods Conference for 4 hours, engaged the entire time.... Learning something I've NEVER been told before, damn near every time he utters a sentence.
Yes!!!
Would be interesting
Yannis is an active MP . Lex would need to travel to Greece to make a face to face podcast
you should do a podcast with Chris Hedges
Yes, please!
Oh that would be so amazing!
This needs to be the most popular comment!
John Mearshiemer too.
Yes!!!
Chris Hedges is great too.. although his message might leave you a tad depressed xD
"When you could--- you didn't."
Definition of good vs evil.
@carefulcarpenter
A false one.
@@rexnemovi6061 Six times in my 72 years I was put in a position to take quick action or make excuses for not being capable. Six lives were saved. Thank the Lord that I did, by the power of our creator.
None ever thanked me, or put me up on stage--- thank the Lord. I did not take action in order to be seen as a hero.
I learned much about myself AND especially about others.
False is most popular in the world. People freeze-up under pressure. Some, not all. Six situations--- 100% success. It could have been 50%--- then what?
@@carefulcarpenter
We're talking here about two very different issues - it's one thing what an individual can do in a specific situation and what a country or society can get done over the long term.
As for individuals, time factor is a major issue. It's a different thing if one failed to react quickly and effectively enough to a suddenly appearing threat, as opposed to chosing not to act when there was enough of time to make an informed decision.
Depending on the personal cost of helping, you can judge the morality of not helping, but I'd think it over the top to call it evil. Evil to me includes intention to harm.
Now, as for what society can do, it is way too simplistic to say that something could have been done and wasn't. The developed Western world invested untold billions into lifting people around the globe out of poverty, and a lot has been accomplished.
Now, from the point of strictly technical and technological capacity, it's pretty safe to say that more could have been done. But in the real world, where to get something done takes communication and coordination between many players and organizations, there would be hickups and outright screw-ups even in the best case scenario where each partner is fully engaged, earnest and honest. And sorry to say so, but many are not.
@@rexnemovi6061 Evil is a tough concept to wrap our heads around. Who suffers? In my case, I did. My family and I both---- but damage is subtle, and extremely difficult to examine--- particularly difficult with just one fleeting moment.
Long term--- I have acted when others in the community did not lift a finger. Who was punished? My family and I. It is subtle but patterns arise over time.
Is suffering fair? From an intellectual point of view? From a spiritual point of view? This is the compound nature of inaction.
Synchronicity is a spiritual/psychological concept that seems to develop into more frequent events as on follows the spiritual path. The intellectual path is more difficult to argue. The intellect has a very difficult time trusting what others report about synchronicity--- even when they have experiencedvit--- though the intellect never truly blieves it comes via a higher moral and ethical habit.
A definition of bad grammar.
I’ve been asking for Wolff on Joe Rogan for years, but having him on Lex is even better. This topic requires a host who is a high level academic
I like how you just said Rogan was dumb without really saying it.
Not sure why a high level academic is required to thoughtfully debate or interview someone. Anyone that is enamored with shaping society via government/state is making an error.
@@Im-just-Stardust HAHAHA yup
@@dominicn The other day I was driving and a young man hanging out of the car next to me, held us his pair of sneakers and yelled "buy these, buy these!" There are some people you can't enlighten, and you can't control... otherwise we'd have our marxist utopia. I don't think that makes his analysis of capitalism incorrect, as almost all his predictions have come to pass. But the dream of a better system, gonna be tough with all the stupid out there.
@@RMalinovksy link?
Wanted to second an earlier comment about encouraging you to invite Yannis Varoufakis, an endlessly entertaining and engaging economist (and former finance minister). Good work.
He's a grifter that almost destroyed Greece.
Yanis definitely 'gives great Podcast'.
Add to that the holy grail, slavoj zizek. Would be a great day for sure
@@faust3530 They are few light years away from Wolff on every level specially on philosophy.
@@saidalas8381 Varoufakis vas ready to fight with the people against the Eurocrats, for the second coming of the Big ΟΧΙ. Tsipras was not. Mitsotakis and the rest of oligarchs are on the side of Eurocrat banksters.
It looks like this interview took a LOT of effort, mental energy, and passion on both sides of the table. Well done.
true... lex really showed how good he is at understanding such a wide range of various ideas and models of the world.. also being extremely patient and humble
I have a lot of respect for both these men. Prof. Wolff very passionately forwards his case, to which I think some strong arguments were made. Lex had excellent push back questions great interview overall.
@@NullParadigm You've never read marx or seen it practiced. You hate it because your overlords tell you to.
@@NullParadigm do you feel you understand what it is after watching this?
@@guitarhero38633 "ThAt WaSnT rEaL mArXiSm!1!
As skeptical of marxism as I am, I admit I admire and respect Richard Wolff. He makes some very fair points we should all consider.
I really appreciate lex having him on. He does tend to have some leaders of capital on, and it’s good to have the other.
You don't have to agree with another point of view, to respect and even enjoy a really masterful elucidation of it. And how much wiser we are afterwards.
Marxism seems a reaction anti elitist , not unlike peons against feudal overlords . Oh well unless the workers get enough shares to direct the business the future looks same old rich will reduce value of input by workers cost less and less.
You should definitively get Chris Hedges on the show! Talk about the military industrial complex, journalism, morality and society. I would love to see you talk
Yes, Chris Hedges as well as Lee Camp and Peter Joseph. Those would be tremendously engaging and informative conversations. I like discussions about the root economic problems but I also like to hear solutions so that's why Camp and Joseph would be great guests. They have some good ideas that a lot of people can understand and take action with.
@@coolioso808 Agreed, those would be amazing conversations
@@xDemonTech Credit to you for knowing of these fine people. Until or if they actually do get on this podcast, there is still Lee's Moment of Clarity and Joseph's Revolution Now! Inspiring and with some humorous levity included - because we need a little bit of that in the current clown show we call human society.
@@coolioso808 damn right! Thanks
Get a government assigned room you two :)
Lex is the single most open minded thinker podcasting right now. For that and his diverse profile of guests, I would consider Lex a very important cultural figure, especially during a time of extreme polarization.
Totally agreed. This is really important for people of all sides.
Joe Rogan was that role before Lex, and I don't think he truly has changed much in the regard of diversifying his guests. I think Rogan wouldn't have had Wolff on because it wasn't exactly his interest, whereas Lex would have a guest as such since he would find Wolff's ideas more interesting.
@@ihatesignupsgrrrrrrr Joe Rogan is a nutcase
@@ihatesignupsgrrrrrrr The thinking man's Rogan.
@@ihatesignupsgrrrrrrr I wish Rogan had a fraction of Lex's clear thinking.
What amazes me about these conversations is that almost three hours goes by and I could listen to more!!
the power of storytelling
@@Zenoelevi I also like fantasy
I relisten to almost every episode and sometimes immediately. I also listen to over 200 audio books a year so I’m kinda an audio junkie. I think this was caused by some sort of dopamine release back when UA-cam was first released… I swear. I’m addicted and I don’t wanna stop either.
It’s scary. Our future is so 🤷♂️…
I asked Mr Wolff, beside missing the major flaws of Marxism and other similar '''...ism''', do you bring simple solutions to todays problems, that almost everyone can agree on (beside avoiding you in public, like you said). Like DÉCENTRALISATIONS AND Semi-Direct Democracy (the Swiss model)!!! PROSPEROUS and PEACEFUL I not saying that the Swiss banks should not be nationalised and given to The People, therefore DECENTRALIZED! Or are you simply part of Yale controled opposition?
@@vectorequilibrium5839 The swiss model can't function really outside Switzerland and it begins to fail even there.
I think having Douglas Murray and Richard Wolff on together for a Round 2 would be a good idea.
Murray would embarrass Wolff. Wolff's ideas work on a factory level of workers but crumble in the face of data. Notice he ducks hard debates and pivots around any questions.
Wolff doesn't debate people because his ideas are trash and indefensible to anyone with the mental acquity greater than that of a child
@@rockstar450I doubt that in a debate about Marxism, a university professor on Marxian economics would get embarrassed by a dude who doesn't even know/understand what Marxism is
@pavlenikacevic4976 Murray understands Marxism far better than this clown and actually well travelled to several states communism has destroyed which always happens because of human nature. The government builds a cohort around them, protect themselves and let the people starve and silence them with force, censorship or both. Everything Wolff recommends already exists in other capitalist economies, just not in the USA where capitalism needs better regulation, not replacing. Ask yourself, have you ever purchased a pool table for your coworkers? Do you donate your disposable income to the poor? ...why? Because you're a human, not the imaginary figment of a socialist utopia like Wolff recommends. His models work in a town full of factories but crumble in reality. Socialists are too busy looking at the richest 1% instead of the other 89% who's standard of living is unmatched thanks to capitalism's flexibility where people underpressure will adjust and reinnovate their sectors to rebound, unlike communism which just collapses. Just look at gay rights and female rights in capitalist counties comparatively.
@@pavlenikacevic4976 you are a flat out wrong, and I would love to take your money, but Wolff is too much of a coward to ever have substantial actual debates with people.
1:25:49 the look on Professor Wolff’s face when Lex said a lot of people will choose people over profits (I’m paraphrasing) is PRICELESS!
Elon musk "im a joke to you" hahah
@@negritoojosclaros Elon does not choose both.
@@negritoojosclaros Elon who has lithium mines in South America and Africa that work on child labour Musk? Elon who lays off half his workforce Musk? Elon who tortures monkeys and paralyzed people for his neuralink project Musk?
Lex always and consistently chooses to see the best in people. Makes him seem very naive, not only to the cynics.
Thats the face that tells you to turn the answer around on the exam or it's "see you next year".
Here are the guests that I'd like to see in future :
1. Chris Hedges
2. Edward Snowden
3. Alex Grey
4. John Mearsheimer
5. Peter Schiff
Its a diverse group of people so it will go perfectly with the theme of the podcast :)
I think Mearsheimer is a con-man personally, but I suppose in the age of Trump we have to live with a few of them. Perhaps we always have. russia lives under one now as I type...
Peter Schiff big time
And anything to drink?))))
The innocence of using Elon Musk, Tesla and the Boring Company as examples to follow in capitalism is something to behold.
He also used trains as an example of how private enterprise is more responsible. That whole section aged like milk.
@@kiticanax1421 lex friedman is an idiot tbh just works hard
Tesla is not a capitalist company they take government subsidies.
Kinda scary how many people fall for this guys bs
This is one of the best interviews I have seen with Professor wolf this far. Bravo to the host for being adversarial, yet open for a complete and thoughtful answer. You have earned my sub. I look forward to more videos.
Lex is very capable interviewer. That is proven by these cases where he does difficult interviews like this with elegance, patience, and in a way that we can enjoy.
Richard doesn't understand that most entrepreneurs start with nothing. Instead entrepreneurs take huge risk that produces something of value for society and creates employment.
@@extremeresponsibility no they don’t. most wealth is inherited and class mobility is largely a myth.
@@mouthpiece806 you are dead wrong
@@extremeresponsibility that's not really where Wolff is coming from. He was noting the profound lack of acknowledgment of risk on the side of the worker.
Richard Wolff’s voice sounds like a sophisticated Joey Diaz 😂😂
Sounds like he needs to huck a Lugie.
He has a cadence that also reminds me of Stephen Jay Gould (RIP).
They had to edit out the part where Professor Wolff started calling everyone cocksuckers.
haha
OMG that's hilarious 🤣
And Lex is like Eddie lol
Maybe it's just me but I'd like to see less generic "Thanks LEX, great interview Lex!" and more comments engaging with the actual content of these interviews. Not that Lex isn't deserving of the praise (he is) but we could be collectively using these spaces to explore interesting ideas from the interviews but instead we get 1000s of comments contributing nothing getting voted to the top.
Check out Destiny's conversation with this guy.
@@ZChoate you mean, check out wolff school tf out of destiny
@@iblus2225 it was more a commentary toward an actual critical fanbase and less circle jerk. But obviously, I strongly disagree with your assessment of the conversation.
Thanks Sekans, great comment!
@@iblus2225 watching it again because I'm trying to see what you see.. But I mostly see wolf immediately becoming contentious and then not engaging with Destiny's response to his arguments. He kinda does the "I'm an expert, who are you?" thing. So why even show up to the conversation?
I found this interview really interesting. I've been wondering about capitalism and its flaws for a long time. Richard Wolff mentioned about the concept of democratic capitalism which sounds like an improvement. Having working for 38 years in small and large corporations I have experience first-hand what goes on. I remember one of my previous CEOs saying "this is not a democracy" and "if I could reduce the minimum wage, I could employ more people". I remember the middle managers trying to out-manoeuvre each other, stabbing each other in the back, sucking up to their bosses. I remember the huge ratio in salaries between the board of directors and the employees. And whilst all this in-fighting went on, the mega rich are laughing at the workers whilst they sit on their huge piles of capital.
Welcome to America, enjoy your stay.
I can't tell if lex is trying to tee Wolff up or really has this simplistic of an understanding of things.
No, he really does.
What did lex say that you thought was simple
@@RockPile_ he keeps asking these questions that seem to ignore what was previous talked about. Like when lex is asking questions about government vs corporations as if they aren't 2 sides of the same coin.
Lex has permanent stoner techbro brain sadly, he just really struggles with understanding corporate power and business empires.
@@mrmanic4151 correct
From all the channels that claim to have free and open discourse, Lex is one of the few real ones out there. Even the topics that create a visceral personal reaction to him are open for discussion. His honesty in the opening segments let the viewer know in which way he may have biases and why they are there. It informs us on what we should be aware of in the conversation and encourages us to engage in a fruitful way. Many channels claim to be what Lex is, but in reality they are a propaganda networks disguised as free discourse. Lex isn't like this. He actually puts his money where his mouth is.
He's an open thinker for sure.
I just hit pause after his opening lines "...the words socialism, Marxism and communism are more often used to attack and divide..."
Lol. He's missing something. I've been immeresed in Marxism lately and divide and attack is the name of the game. The first thing you do as a Marxist is divide society into classes and attack the elites.
I dig Lex's stuff and i like hearing this professor, but i think one will grasp this topic better if you don't think like an engineer, but think like a gangster. Read Lenin or Alynski to see what I mean. Peoples openess and honesty are used against them.
Check out Manning Johnsons book 'Color, Communism and Common Sense' or Ion Pacepa's book 'Disinformation' to hear the other side.
@@bigghouse101 What we have actually seen historically in the US is quite the opposite. We've seen the demonization of any idea that doesn't toe the corporate line with the immediate and incessant shouting of "but that's socialism and socialism bad!". Even earlier in the 50's we had Mcarthyism where we looked for "hidden Marxists" everywhere as if they were boogymen. It was ridiculous.
It has been fragile capitalists in this country who cannot bear to have their ideas questioned even in the slightest who have been dividing society. Any time capitalism causes economic problems, it's never the corporations who are at fault. It's immigrants, teachers, poor people, the government (who the corporations corrupted in the first place). ANYONE except who is actually causing the problems.
@@misterbig1510 I think your missing a few things.
1950's Marxists everywhere - look up former KGB Col Oleg Kalugan brag about the KGB having over 300 agents in the US Govt. It was 300 some to zero on the scoreboard until 1956 as far as Kalugan is concerned. Look up the Mitrokhin files, they've got Alger Hiss's pay stubs.
That's just a start.
As far as fragility, who bans books? The Amercans, or the Soviets and Chi Coms?
Ever notice how the micro aggression crowd accuses everyone else of fragility?
Even Lenin said socialism sucks, but that you have to endure it to reach communism comrads, so just keep believing. Marxism isn't a economic or political system, it's a crypto religion.
@@bigghouse101 you tell on yourself with your comment. Mcarthyism was a witch hunt, plain and simple, and if you unironically believe in it still in 2022 you are a weirdo.
Also, it is quite literally conservative state legislatures which are banning books teaching plain history because anything that talks about civil rights is "crt". Don't even get me started about the ridiculousness that is the manufactured outrage over Dr. Seuss of all things (this sounds like parody but is real). A private estate chooses to stop printing intellectual property it owns on its own free will, and that's cancel culture, but the actual govt bans books, and that's somehow not authoritarian, real cancel culture. Laughable.
I actually do not understand how someone can get every single point directly backwards from reality, but you've somehow managed it. It's honestly impressive.
@@misterbig1510 you're making things up. State legislatures didn't ban books. You've got it wrong, otherwise tell me what books were removed from bookstores?
CRT? Break down Kimberly Crenshaw, Derek Bell or Max Horkheimer or you don't know what you're talking about. 😉
You're not one of those people who believes the "its just teaching about racism" line are you?
Ever heard of Critical Theory, you know the Frankfurt School, "You can't use the masters tools to disassemble the masters house" etc etc?
School me on CRT, I want to see this. Break it down for me Mr Big
Man, Lex's uninterrupted interviews/podcasts are most likely among the freest more dynamic and reasonable dialect exercises of our generation.
After discussing Marx at some length Mr. Wolf mentions Anarchists Proudhon and Bakunin as competitors to Marx. At around 1:47 he goes on to discuss workers cooperatives, which is an idea Prouhdon advanced as part of his criticism of Marxism. I am sure Mr. Wolf knows this history better than I do, and would love for him to speak in depth on the interplay between Marx & Anarchists in terms of the evolution of thought on social and economic justice.
An interesting thing to think about is that on letters to Vera Zasulich Marx actually advocated using the Mir in Russia (traditional communal towns) as the way to build the new society, but Bolshevism and the USSR didn't take that route, they may of not known that those were Marxs feelings. I don't think it is fair to say that Marx, Bakunin and Proudon disagreed about everything, but I don't know the specifics on cooperatives. Radical leftists of all stripes have long used coops and collectives.
An interesting thing to think about is that on letters to Vera Zasulich Marx actually advocated using the Mir in Russia (traditional communal towns) as the way to build the new society, but Bolshevism and the USSR didn't take that route, they may of not known that those were Marxs feelings. I don't think it is fair to say that Marx, Bakunin and Proudon disagreed about everything, but I don't know the specifics on cooperatives. Radical leftists of all stripes have long used coops and collectives.
Never expected Dr. Wolff on this podcast
Yeah, I feel like Lex just put Amber Heard on the stand.
@@JonathanRootD Where in my post is the word "women"?
@@JonathanRootD it has negative connotations and rightfully so in my opinion.
@@crawfish7286 I am puzzled as to why you said this. What do you mean?
Lex's audience seems to lean heavily to the right based on the reaction to this podcast. Pretty disappointing reaction for an apparently intellectual audience. Either way, Wolff is a genius and one of the few speaking out against capitalism.
In school I was never interested in politics and history.
Now I’m old and glad to listen this wonderful podcast.
Thx for your work !
Like you, this would have bored the crap out of me. Now, I'm fascinated!
yea we old ! lol
Yeee
^_^ Bernie Sanders lied about Nordic nations being socialistic, when they themselves said they're capitalistic not socialistic, and are proud to be capitalistic, leaders of the world. I used to support Bernie Sanders.
He also had other issues with him in recent years, besides former years supporting war, signing the infamous Crime Bill Biden founded. Which Biden said in his presidential campaign that he would reduce prison population of America, the prison capital of the world.
Over 50% of the American prison population is in for a very safe, medicinal herb, which is always medicinal when used, that hurts Big Tobacco, Big Alcohol, Big Pharma, and others. We have our fake and super profitable "drug war", while warmongering America mainly goes to war for GOD, Gold Oil Drugs....
Moreover, Biden now is encouraging more prisoners, since it's an over 10 billion industry in profit for prisoners. Prison is a system that isn't rehabilitating, and many get into heavy drugs, fights, rapes, murders, infections, etc. in there.
Also, pedo is grossly misused, as it means to be mostly, or solely attracted to prepubescent children (not pubescent minors in a world where most people died before 18 and the brain fully develops at 25 lol). Many actual pedos have been proven to have been abused themselves.
Anyways, I'm a centrist, pro-capitalism, but we have crony capitalism, AKA crapitalism, AKA corporatism.
It's crazy how the right wing lie so much about communist history. 1984 lol
I'll add my voice to the chorus in congratulating you on yet another great interview, Lex, but what I'm perhaps most impressed with at this moment of your podcasting career is your AUDIENCE. I thought for sure on seeing the title of this interview that the comments section would be a flame war, but would you look at all of the polite and thoughtful discussion here?! It's a real credit to your selection process on whom you choose to interview. By insisting on a broad swath of guests from across the ideological spectrum and a variety of different subjects, you really do allow your listeners to broaden the edges of their own thinking in a way that so few media outlets do nowadays. I'm sure you bear the brunt of more than a few rude comments here and there, but the listeners that stick around really do reap the benefit. Kudos, and please do keep it up.
For a Lex audience member to comment I think they have listened to show which is -not combative - I too Am impressed. The show is a guideline for conversation and a way to learn
absolutely. we all know the system is dying, we need to get serious and thoughtful and respectful of views outside the status quo. Lex is doing great work!
Exactly... But we will have to do unspeakable evil to the whites before we can have true Marxism... And I can't wait!!!!!
" the system is dying"
There are more than one, and they aren't exactly dying. Change for the better or else many will suffer? Certainly, and that risk is always there.
But an unprecedented population of 7.5 billion says otherwise to the 'dying' thing.
Some systems have some (chronic) infrastructure and most have (temporary) supply issues.
Self-extinction has gained near-equality of likelihood as any other threat, which you can choose to be horrified by OR find somehow re-assuring. Up to you.
Indeed this species has been outrageously DOMINANT, still is, and doesn't hardly know what to do with itself besides fuck fight and party, for the most part.
We build and build and then ...."uh, well time to have a new war and build it back up again when it's done!"
Rinse, repeat. _"And thaaaaat's Dialectic!"_
Cheers :)
Such an interesting discussion. So long and yet it went by so quickly, for me. I plan on listening to it again (and perhaps more), as the first time was accompanying other tasks I was performing.
I highly suggest listening to prof. Wolff's lectures or watching his Economic Update show. Hes a walking treasure trove of knowledge.
If you think this conversation was interesting, then you're just another moron. Who believes the marxist lies 😂
The amount of patience required to talk to a “professor” like this is beyond me. The guy seriously thinks there is no difference in risk between opening a company and taking a job. He is just not part of reality in any way, impossible to argue with.
I love the whole vibe of this channel. I feel like Lex always makes his videos more about his guests and less about him. He asks very deep questions and gives his guests ample time to speak. Other shows often try to make their interviews into a debate.
His conversation is always in good faith, Never trying to out match his guest or undermine them. It makes it very easy to listen to.
@@zerofox7347 or worse, they don't want your opinion, they want you to give their opinion.
The one word I think best describes Lex, thoughtful.
He understands humanity so well its eye-opening
Lex is great. Richard wolf though is in favor of socialism. Which is always a special Ed stance. Why would anyone be in favor of allowing the government to force you into trades you don't want to be part of and don't benefit from. The part of capitalism that all these fools ignore is that it's a VOLUNTARY system of trade. This means both parties have to mutually agree to the trade. Thinking something is wrong with VOLUNTARY trade is the either the definition of totalitarianism or stupidity
I second getting chris hedges hands down one of the best people you can get
I would love to hear that conversation.
@@erik8719 would be amazing Chris Hedges is truly a great intellectual on America and has I point of view I find very valuable and revealing
I'm a regular subscriber and this is the interview I have enjoyed the most. Well done Lex for daring to cover a taboo subject and not shouting down the ideas, It didn't seem like 3 hours at all it was so interesting and clarifying. Thank you!
Anyone who enjoys this should listen to Professor Wolff's podcast - The Economic Update with Richard D Wolff, it's fantastic.
@@sukotu23 thanks for the tip.
@@williamhaddoc LOL I know. Rich liberals LOVE to wear their Che shirts and quote Mao. Richard Wolfe speaks of Stalin glowingly all the time. When asked about the tens and hundreds of millions of dead he’ll shrug it off. Pretty much you have to break a few eggs to make an omelette is his position.
Ye, and also false. It's a White Wash and also vulgar marxism, which the young marxists have abandonded in favour of cultural Marxism... they always lie, they only desire power.
@@williamhaddoc :I think i's both. The fact that Trump would dismiss Bernie as being as "Commie" was an example of what the word has become a repository for. On the other hand, the fact that Bernie had such a groundswell of support shows t's becoming more and more mainstream. Wolff himself speaks about both in the interview: citing how it's avoided and ignored in US universities and then ending with that wonderful account of how he's having the times of his life, giving 3-4 interviews a day compared with how he previously 3-4 a year.
Your diversity of topics and guests is inspiring, Lex.
You are a bot.
@@Pteromandias .... lol. Nu UH! YOU ARE BUT WHAT AM I?!
Dont be silly, bruh.
What a very interesting and enlightening conversation. I very much enjoyed this. Thank you Richard for your persistence in your perspective and belief, and thank you Lex for providing the platform for such an enriching discussion. ✌️💚
Are you kidding???
Im a life long construction worker and I gotta say, he’s making a whole lot of sense. Two of my coworkers died on the job over the past few years and we get paid shit wages. Hell, I live in a damn trailer. My brains glitching… I think he turned me into a “Marxist”.
You should start a worker run construction cooperative. Many places even offer grants and loans to start a business like this. The nice thing about capitalism is it gives people the choice to run a business in a variety of ways. In socialist countries there is no such choice.
What you need is economic literacy, then you’ll see through the BS of this guy. Marxism is the death of anything free. Even speech.
@@soulfuzz368 I never knew or thought about that. Excellent comment
There isn't a hands on labourer I know in the UK who's a leftist. Over the years we've all seen the unions halt work in different sectors, fucking it up for everyone else.
They all recognise it for what it is; an emotive push to exploit while accusing the other side of what it is they plan to do.
Wages might be shit but you get none when you strike, and if you don't strike with the rest of your "comrades" they persecute within their own ranks.
Don't let Wolff fool you. He uses a lot of rhetoric without any substance.
The basis for this dudes argument seems to be that we are all equal.. we are not.. not in intelligence, not in drive.
You know I never knew Joey Diaz was such a deep thinker let alone had any thoughts on Marxism
Lmao. Ya it turns out being Cuban made him a good comrade.
Yup, however, being a deep thinker doesn’t mean your thinking is correct.
You were the perfect person for this Lex. Great Interview.
next interviews: Paul Louis Street, David North, Chris Hedges, Vijay Prashad
Isn’t employee owned companies being studied to analyze Mr.Wolf’s ideas?
Great questions Lex. Thank you for hosting and being willing to publicly explore controversial ideas with humility and patience
Very good! I'm an economist and more to the right, but I think it's very interesting and valuable to understand Marxism. I really enjoy how this is a channel where great thinkers of different perspective can converge. Like an antidote to MSM. Keep going and keep growing, Lex! Much love from Sweden...
Of course it’s very valuable, especially to see its manifestations in Leninism, Trotskyism, Fascism and National Socialism. They were all Hegelian spawns and originated from Marxism. Giovanni Gentile and Mussolini were both Marxists until they realized that tribalism (translated into ultranationalism for their purpose) was the key, the Trojan Horse to take down the castle of capitalism and lead society into collectivism. Of course they failed as central planning never ends well. Lex is indeed doing an excellent job.
Richard Wolff isn't a great thinker.
He's just a misanthropic religious fanatic with nothing to show for his efforts.
Worst religion ever.
You are Swedish, so by American standards you are deemed communist … we’re in this together, greetings from Germany 🇩🇪
@@theMuritz it depends on the American. There are Americans that would think of Sweden as far-right because it has no minimum wage laws. That is IF they knew about that fact.
@@C_R_O_M________ Let me tell you guys, You are doing a great job with this. You're pretty good!
Without the "far-right Swedish" part it would be flawless. Idk if it's just me, but I'm aware that in some specific countries, calling someone a far rightist or a nazi is the meanest thing you can say. While in America, is not a big deal. Mostly because the average American doesn't even know what it is. Sweden is wildly known for their leaning towards multiculturalism.
I hope it helped
Lex brother I wouldn't ever think that you would even consider having an actual Marxist on your show let alone an honest conversation and somewhat of a back and forth but you have surprised me. I am a leftist but time to time I would listen some conservative point of view just to see where they come from. I love Richard, Noam Chomsky, Cornel West, Chris Hedges and others. Respect to you for having the balls to have a talk with an actual left wing intellectual. Thank you
"Left wing intellectual" - now there's an oxymoron.
now if only Joe Rogan had the balls to have Richard Wolff on his show, that would be a treat.
@@spec24 not more oxymoronic than a "right wing intellectual" like clean your room types while their own room is a fucking mess
@@spec24 ... you wanna talk about it, bud? Which liberal hurt your feelings in junior high?
@@spec24 more knowledgeable than most capitalism defenders and lex was not able to defend capitalism hard enough he couldn’t challenge him in intellectual grounds
Bro almost had me. He lost me at "mass transit". What was I thinking. Almost did me dirty.
Wait what do u mean public transport
@@KDH-br6hythis guy is part of hard left crowd. He even lies in here and says he studied math as an undergrad (he actually read history).
Markets are bad, but some dude in Washington decoding is better? I like markets more. I understand them.
Lex thank you for another interesting interview and for engaging with thinkers from various perspectives. Genuine dialogue is a rare thing in our time.
I would say most of my peers would be too close minded unfortunately to watch this however I agree with you agree with you a broad spectrum of perspectives is active is terribly enlightening in so many ways it is very important, for the future of any society, to be able to comprehend the perspective active of the past experiences answers of people from all, different aspects of Experience..
As a radical leftist and someone who is not a subscriber, this was by far the best interview of Professor Wolff that I've seen.
@@jonblaze4244 ן ןמל ןמן ןמ
I agree. Just because someone has bad conclusions, doesn't mean they don't have a ton of interesting and valuable ideas in their process of thinking. That's why free speech and respectful debate is so healthy for a society. If you refuse to talk to someone because you disagree with one single conclusion of theirs, then you close yourself off to any potential ways of working together, and we need to work together or this civilization thing stops working. I happen to know that communism and socialism are far inferior in terms of net positive impact to people in the long run, that doesn't mean I don't agree with MANY of this guy's criticisms, observations, and ideas
@@CaliforniaMan13 if socialism and communism is inferior, how do you explain the collapse of the US economy and society in general? How do you explain the complete take over of government by capitalist and things only getting worse? Why is none of these capitalist stepping up and trying to save the planet from global warming but instead spending their money on trying to get off the planet?
Every time I listen to Wolff I he ends up with multiple appeals to authority to determine the actual distribution of goods, currency, power. He never answers the question of what a democratically run business would like if you consider the human quality of avarice which would, without fail, take the form of the most efficient "company" of workers continuously sacrificing both wage and time in an effort to gain power through the increased availability of say, a chair, to many more people due to a lower price per unit.
Competition takes place in a fractal manner, at all levels and at all times.
"It's flawed so burn it to the ground."
"Natural leaders? Nahhhh you're getting hung up on nothing."
"Competition??? Pleeeaaaaase."
I can’t stand Wolff but worker cooperatives are a great model for certain businesses. I worked at one for 7 years and it was mostly great. It was a brewery which works well because it is fairly small, the jobs are easy to divide and the business decisions are not relatively critical. The problem is they don’t innovate well or expand/grow. For example I don’t think a company with a new product could succeed as a cooperative. Too many cooks in the kitchen so to speak, no direction and no vision.
@@fuckamericanidiot Wolff also refuses to even address the tribalism that is arguably the biggest part of what drives people to perform better at one company than another. Capitalism allows for greater levels of production to be based on nothing more than wanting to be part of the winning company. This is also what drives the sole proprietor to try to take on the Goliath competition. Tribalism, competition, greed, avarice, sloth.... these are all things that are many times at the foundation of what drives individual people and progresses technology.
@@adamjarvis1654 Yup. Nature is certainly an irritating obstacle to him. Just like the question of cultural differences and influences are an annoying obstacle to the wokeist ideology/religion.
@@adamjarvis1654 Market socialism does not decrease that.
What I love most about you interviews, Lex, is how you allow your guests to develop their ideas in a depth one rarely finds outside the very best books.
The interviewer was mostly an impediment (albeit a congenial one) in this interview.
@@tenmanX I disagree. Rex generally asks for clarification of well-known words to insure the understanding of those who do not know the field to the depth you do.
If you think about what Richard supports in this video it’s so much more evil than anything YE, Kyrie, or dave Chappell.
@@michaeltharpedu what evil thing does he support
@@enslavedgorilla Marxism
Thank God, thank God for this interview to somewhat counterbalance the Bezos atrocity. Not to detract from Lex' superb conduct of either; the latter just casts such a dark flare-up.
These conversations continue to be the most valuable in society.
Thank you for the effort and willingness to share.
These conversations are interesting only because they point out the widespread economic illiteracy that even economists carry around.
@@C_R_O_M________ Illiterate compared to what? I would ask a capitalist economist over the rare commie economist about economics any day.
@@fuckamericanidiot and you would get a round 1 KO in the following debate. The communist get’s the stretcher. Always!
@@C_R_O_M________ Ah yes, a youtube commenter accusing a man with a masters and PhD in economics of "economic illiteracy"
@@C_R_O_M________ Well it’s a completely different school of economics. Modern neo-liberal Friedman-style economists are entirely concerned with growth and capitalization. Whereas the Marxist economist is entirely concerned with human history as determined purely by material factors and the struggle between classes. The vital difference: Wolfe does not prescribe socialism to “grow the economy” but rather to transcend the economy… with the ultimate aim of ending exploitative power imbalances.
During the financial crash in 2008, Lehman Brothers went down. Over 2000 lost jobs in that bank and their CEO walked away with 8 millions and he opened a consulting firm. Who should be held accountable, Lex?
Oh my my, Lex!!! People lost jobs and they invested 20 years of hard work. One day, they go to work and the factory is closed. No warning signs! The entity was open in China. There are examples like this everywhere in America. You think that the corporations feel the pain. If your hypothesis is true than there would be no sign for closure in front of numerous homes across America. Just wake up and get better informed! If one capitalist like Bloomberg has 14 homes how can that person feel pain if family of five lose the only home they have.
So they were entitled to a job and the CEO failed them so has to be punished? That's how it works? Maybe the workers failed the CEO.
@@gorkyd7912 except, you and everyone who knows even the most basic facts about 2008 knows that is not at all the case.
@@austinz9310 Let's not confuse history with morality. There's what happened and there's what should happen. I think if a company goes under it's not therefore a crime by the CEO against its workers, unless the CEO single-handedly tanked the company through some kind of wrongdoing. If the CEO walks away with 8 million, first of all that's a tiny bit in the grand scheme of early 2000s investment banking, second that says nothing about what the workers walked away with. Maybe they walked away with 1 mil each and got jobs at Goldman Sachs. There's nothing in the statement that proves the CEO wronged the workers, and no one is entitled to a job.
@@gorkyd7912 If you worked in finance in ‘08, or even know anything about what lead to the crash, you might understand how silly that statement is.
41:30, This is where Wolff's core misunderstanding of economics is. He is absolutely confused about this so called "Employer/Employee" relationship. When you enter into an agreement with someone, trading currency for your labor, BOTH parties get surplus value in the transaction. The employer feels that your work is worth more than what they need to pay you, and you feel that your work is worth less than what your employer pays you, if this relationship wasn't present, then you wouldn't agree to work there. Let's say you're a chair maker, and you make chairs for a chair company at $100 per chair, which they sell for $150. It might be easy to say that the company "steals" $50 of surplus value from you but this isn't the case at all. If it were trivially easy for you to sell that same chair for $150, then you wouldn't work for the chair company (or would at least be a fool for doing so). If it isn't trivially easy for you to sell that chair for $150, then you have to acknowledge that the chair company is in fact providing services and resources that you are incapable (or unwilling) of matching on your own, therefore they are not "stealing" surplus value from you, they are actually doing exactly the same thing you did. You started with wood, and through your labor made a chair more valuable than the materials you used to build it. They started with a chair, and through marketing, branding, salesmanship, and shipping, ended up with a chair more valuable than the chair they started with, they added value just the same as the laborer did, but through different means.
53:09, Why would Wolff even bring this up, no Economist with a Capitalist bias would ever say that there is a relationship between effort and value. The "Labor Theory of Value" that Wolff alludes to here is a Marxist view of value, and it is objectively wrong. Your labor, just like every single other thing, is worth what it is worth because of supply and demand, your time and effort are completely irrelevant. Dwayne Johnson isn't the highest paid actor in Hollywood because he works the hardest, he is the highest paid because hundreds of millions of people want to pay to see his movies, and there is only one of him (high demand, low supply). Fast food workers aren't paid poorly because their jobs are easy, they are paid poorly because they are easily replaceable, and there is a large pool of unskilled laborers who don't have the skills or experience to work elsewhere.
@@squabdiggity743 The thing is Wolff know he's wrong, this doesn't matter, he has a goal and reality be damned.
Really good comment. It's hard to believe in an economics professor/"expert", but Wolff seems oblivious to this fairly basic analysis.
@Yo Momma Define exploitation. The carpenter charging you more than what the wood cost him? The lumberjack selling the wood higher than what it cost him to acquire it? The tree not getting a cent?
Marx was a spoiled rich child who never worked a day of his life, it's goddamn hillarious some braindead people take him seriously like a guru of economics.
@Yo Momma The cost of tools and materials isn't "non-negotiable" because in a Capitalist society there is competition. Also you ignore other non-product benefits an employer could potentially provide, like a network of established customers, or an established relationship with a supplier that allows the company to provide a resource, such as the paint you might use in your chair example, at a special or discounted rate. This is also due to competition.
The business owner COULD run a non-profit, but if he makes no profit then what is his incentive to do anything in the first place? Because he has a passion for making chairs? What a joke. Communism is rooted in emotions, rather than the reality of a marketplace. Nonody was rich before doing anything, even those that inherit large amounts of capital tend to lose it all in just a couple generations. You talk about the employee position's weakness but you ignore the weakness of an employer that doesn't offer reasonable benefits and thus has no skilled labor to sell his product and make a profit. It's always a two way street you can't just ignore one side.
Basically, most people don’t know to be fair with others.
Its a very basic concept yet we fail at it miserably. Until we figure this out we’ll forever be chained to classism.
The free market addresses fairness much better than the elitism and arrogance of academia and corrupt government power. It's ironic that their virtue signaling and corruption ends up exaggerating unfairness.
I think the idea of the invisible hand is describing this dynamic. As it is an average of people asking too much and too little from one another on a case by case basis.
Got it. So let’s give power to government so one side has the power?
It is the west ideology of individualism, no religion and LGBTQIA+$/woke that has destroyed the family unit and therefore the community. A tight-nit family running a business together always end up doing well. There is a reason why Jews are so powerful. They work collectively within a system designed for individual economic participation, hence not participating and skipping the class/hierarchy aspect. Essentially, working as a true collective is like a cheat code to defeat the capitalist system. You need a family for it to be honest.
you're conflating human nature with capitalism like he mentions in the video. slavery was considered human nature - there was a "natural" hierarchy of races, africans were "naturally" subservient to europeans. Kings/Lords were "chosen by god" (the same argument) to be superior to serfs. Put side by side, both appeared to be self evident in their time. Serfs couldn't run a fiefdom. This isn't human nature. They're products of the social order that appear natural because the social order reproduces itself. @@northernmetalworker
The "freedom" To switch to a different employer is complicated by things like health insurance and pre-existing conditions. If somebody has a pre-existent condition and decent health insurance at a job they hate, there are much less likely to move jobs because of the health insurance related reasons that may exist with the health insurance offerings at a new job. That is to say they may or may not be able to get insurance coverage for a medical condition. This is a huge problem.
In our current society there is a glorification of "negative freedom" (the lack of someone putting a gun to your head and making you do something) at the expense of "positive freedom" (the ability to do what you want without fear of dying from disease, starvation, exposure, all the things having money protects you from). It's important to realize that a society needs both for all it's citizens to be considered at all just, and capitalism requires no positive freedom for workers in order to remain functional.
Correct. Health insurance should not be tied to employment.
@@erikalesi7603 Its not tied even now...i dont know but you have to be employee to get insurance in USA?
@@pavelvodnar3206 Largely, yes.
@@erikalesi7603 what about entrepreneurs?
Richard Wolff's explanation of surplus and its allocation is as clear a definition of Marxism vs. Non-Marxism as I've heard.
Does Marxism lend itself to surplus?
Yeah it's like the worker are the shareholder and participatebin the input at the same time
Marxist definitions fail under scrutiny. The labour value model considers a new cook as equal to an artisan chef. Tell me what that does to productivity
@@rockstar450No it doesn't, that is not the Labour Theory of Value
@@ytpanda398 yes. It does. It destroys competition like all socialism kills people
Maybe it’s just me, but I would love to see a three-way discussion with Prof Wolff, the one-and-only Michael Malice and Lex discussing capitalism and its effect on society, and what could and even should be done better. Thanks for a wonderfully thoughtful discussion, Lex 🙂
I second the motion!
I thought the same thing!
I agree. And then this guy would be called out for conveniently leaving out some very fundamental math on how a business really works. Particularly a small business with 10 or 20 employees. This guy is nuts imo
@@beingjohn392 he can’t “win” a debate without first reframing the conversation and changing definitions.
@@beingjohn392 Small businesses legitimately practice capitalism he is really saying communism has been distorted to authoritarianism (russia) and people turn a blind eye to corporatism and the collusion of big business and government. He then argues that communism has been scapegoated in a way to anything going against big business and argues for a decentralized communism where each person has a vote instead of a couple board members and then touches on nepotism where family of capitalists get higher positions and money without being qualified. He touches some good points I personally believe in free market but he has opened up our thoughts on things especially the USA view of communism.
I love the US, this is my home. But I am not blind to the shortfalls of this country.
There will always be the elite and working class, the haves and have nots, whatever you want to call it. It will exist in socialism, it will exist in communism. It will always exist no matter what we do.
What makes the US great is that if you level yourself up, you can level up your life. I'm 31 years old now. I didn't actually start being a man until I was 27. I decided to take control of my life. Borrowed money and started going to therapy and a psychiatrist. I started working harder, being more productive at work. Started learning new skills. Ended up moving across the US and bought a house in cash.
I was a loser until I turned 27. String of failed relationships. Couldn't keep a job for more than 6 months etc. I happened to be lucky that i got into IT at a very early age, and that did help me quite a bit. But to be honest, I have friends who were mature at the age of 18, started with a part time job at walmart. Now they're store managers making 6 figures, way more than i'm making now. I'm jealous in a respectful way. I'm very happy for their success. I'm more jealous that I didn't learn from them sooner and take control of my life like they did.
I turend my life around in 4 years. Its never too late. And that is what makes the US great. If you're willing to put in the work and make yourself marketable, then you csn achieve anything. Also wanted to throw out there that i'm now engaged, to the most wonderful woman in the world.
I don't think i would have been able to do this under any other system other than capitalism. I'm not saying capitalism is perfect. Its not, not even close. But it sucks for the same reason why communism (which i like in theory. Its my favorite in an ideal world) doesn't work. Some people will rob you. Some people will exploit you. Some people are just degenerates. And those people will break the system. There are some people who are okay with being the have nots, and don't want to work their fsir share. We can't control that. But we can allow opportunity for those willing to work.
Just food for thought. I'm not really here to argue with anyone. I'm a free american. Believe and chase after what you want. This is just my two cents. Take it or leave it, haha. Salaam to you all.
The conversation starting at around 110 is absolutely eye-opening and brilliant
😂😂😂😂😂😂😂😂 "brilliant..." 😂😂😂😂😂😂😂...
What are the brilliant arguments? Go easy on yourself, just state one brilliant argument, and justify the adjective.
56:22 No man ever steps in the same river twice, for it's not the same river and he's not the same man.” ― Heraclitus not Hegel
56:15 - It was not Hegel who first said that, it was Heraclitus. "No man ever steps in the same river twice, for it's not the same river and he's not the same man."
I was thinking the same thing.
56:24 Is Heraclitus. Hegel may have adopted his very early position. (540-480 bce)
Thank you! I was about to comment this exact thing. Hegel was a great admirer of Heraclitus, but the "everything is flux" doctrine is Heraclitus'.
Long form interviews, in this interview, allows his guest to expose themselves as what they really are.
Thank you Lex, for doing these interviews, many of them difficult, many of them entertaining, but all of then educative 💜
Richard Wolff is really good at keep going on and on without saying anything.
@@factsmatter6980 Tell me you didn’t listen to the interview without telling me you didn’t listen to the interview. Wolff *clearly* refuted at least two dozen conservative talking points against Marxism and socialism.
@@ericd9827 refuted? He is telling you what he thinks and why but that doesn't make 100% of what he said true. Is his way of looking at an issue, he is yet to prove what he said. Which Idk how he would since Economics and markets shouldn't exist.
@@claudiapastorahdez6177 Did we listen to the same interview? Wolff repeatedly shared *facts* that refuted the silly conservative caricatures of Marxism and socialism, not mere opinions. Of course, this is not to say that there are no serious criticisms of Marxism and socialism; there are. However, this discussion could serve as a ground clearing of nonsense that makes way for serious discussion, which, alas, doesn't seem to interest most contemporary conservatives. They'd rather stick to their straw men, since they're far easier to knock down.
@@factsmatter6980 lol. change your username to "I can't intellectually engage with ideas I don't like"
I'm a conservative Republican and I've gotta say, Mr. Wolff here is fascinating to listen to. I could see him being a great teacher. I wish I could take his courses. I've never heard Marxism explained from an actual Marxist professor. It sings to a much different tune than what we hear in media. I appreciate this interview Lex. I will be looking more into this guy.
I’m a hardcore leftist and I say good for you friend! You would probably get a lot from Professor Wolff’s UA-cam channel Democracy at Work - he and other literate, fun-to-listen-to smart people also discuss other ways that capitalism affects society and mental health and how and why it should be improved.
You might also find the economist Yanis Varoufakis an enlightening listen. Peace, friend
If you enjoyed this, you should listen to Professor Wolff's podcast - The Economic Update with Richard D Wolff, it's fantastic.
Marxism use a lot of manipulation, and you're a puppet of manipulation now.
@@xaelserpent No offense my friend but have you watch Fox and Newsmax lately? It has turned our party into a fascistic cult for Trump. Want to talk about manipulation, it's time my side took a look in the mirror.
@@xaelserpent look everyone, the worker has fallen in love with the system that exploits them! Sorry bud, you're the only puppet bootlicker here, worshipping your oppressors and you don't even realise it.
I've watched this video thrice and given it a lot of thought, seriously considering all the arguments. And I'm so impressed by Lex.
He is willing to interview anyone in good faith.
Even the mentally ill.
Is this how you react to everyone you disagree with
@@inteljumperxx I give them about three genuine chances to convince me and take their arguments in good faith. Yeah.
@@DicePunk but you say they’re mentally ill lol
@inteljumperxx yes, one of many possible conclusions. Its my opinion and I'm not asking you to abide by my standards. Everyone can have a different opinion.
I'm just saying that I withheld holding one until I was sure.
And yet I reserve that i can still be convinced otherwise.
@@DicePunk I’m just trying to help you understand how ignorant your opinion is, although I applaud you for watching a video with someone whom you don’t agree with.
Your approach to conducting these interviews is something I admire. Thank you for sharing, and continuing to contribute to the public domain. 🙂
You are a bot.
@@Pteromandias last I checked I was a sovereign and sentient being. Perhaps I’m imagining all that.
@@Meilat1890 ? Sentient Being?
IMAGINING????😮
@@Pteromandias what MAKES YOU BE AWARE OF OR REASON IN WHICH YOU BELIEVE IT AND TEXTED THIS ?
I really am enjoying the breadth and depth of this discussion! Great interview! Thanks!
You could also argue the western capitalist system we live in around the world isnt real capitalism.
Capitalism should be about a free market with lots of small business competing against each other. This in theory should keep prices low and markets fair with everyone thriving.
However large corporations have formed in countries and around the world. They crush and squeeze out small Business and control what happens in those markets.
In New Zealand where i live. There are only 4 or 5 big supermarket chains in the courty. They are all owned by the same two companies that are from australia. They can charge what they want because they control that market and can crush anyone that tries to compete with them.
I still see capitalism as the way for a country to move forward. It creates competition and innervation. Although yes, people are left behind.
I spend time in the military which i would compare to communism.
An officer class that dictate what you do, although they dont know how to do it themselves. Rules and reulations for everything.
Everyone getting paid the same. People werent willing to speak up if something was wrong. They would do the bare minimum because someone else will do it and they didnt get paid any extra.
Where as now a work for a small business operating a digger. It was started by two brothers afew decades ago. Its now run by thier sons and employees 15 20 people. They have done well because of a good reputation and the quality of work they have done.
Globalization and coportations are the problem.
I find it hard to believe Marxism is the way to go without there being any examples of it doing well.
If it looks like a dog. Barks like a dog. Its a dog.
Marx was correct about one thing: "For the bureaucrat, the world is a mere object to be manipulated by him."
That's not just the bureaucrats, that's the view of anyone with ambitions of power.
Well, that's right and Socialism wants a global bureaucracy to rule everyone. Completely insane.
@Down with Corporate Amerika The market system has vastly more protections than in Marx's day. You say there have been no responses, but many of those protections are responses.
@@josephalbatross5961 not when the argument is that markets are perfect, the best arbiters, & should be left to themselves. As a free marketeer would say. Conversely, it can be argued that the fact that protections are needed validate one of Marx's core insights, that capitalism is inherently unstable and prone to crashes.
@@Nexusforce1 💯
Fridman's interview is a really good match for Prof. Wolff's usually high energy. It feels more controlled somehow.
Controlled...how???
@@kipwonder2233 I think he means kind of like a Ying and yang kind of way.
The conversation just seems more subdue and more digestible. I just feel like Prof. Wolff tends to run on sometimes.
Wolff is an extrovert and Lex is an introvert. The two are able to produce good synergy. Jordan Peterson’s interview of Camille Paglia is similar extrovert/introvert synergy. This is why introverts and extroverts can be attracted to each other. They’re able to strike a good balance in conversation.
@@rypoelk997 don't put Peterson n Wolff in the same sentence
This is the best interview of Prof Wolff I think I've ever seen. I don't know anything about the interviewer. I came to this likely because I've watched so many Prof Wolff lecture videos on UA-cam. Anyway, the questions were insightful. The interviewer was knowledgeable and probed hard, and did not allow slack or pitch any softballs. I will be watching more of these.
Richard doesn't understand that most entrepreneurs start with nothing. Instead entrepreneurs take huge risk that produces something of value for society and creates employment.
@@extremeresponsibility How many comments did you copy/paste this stupid and incorrect response to?
@@extremeresponsibility the only risk they take is that they don’t end up like 95% of people ie workers
@josh_hen_har my friend, if you think that is the risk of an entrepreneur, what business have you started?
Only 4.8% of businesses are around past 10 years. If there is low risk, explain why.
Only 9% ever earn $1 million or more annually. Why?
You could not be more incorrect. I hope that you aren't afraid of learning.
I challenge you to start a business today. Then put all of your energy and resources into it.
The challenge is on to see if You Got It or Not.
@@extremeresponsibility you completely missed the point. He’s not arguing about the difficulty of starting a business he’s saying the risk of it is simply going back to wage labour. That’s it. You don’t die or become homeless, you’re simply back to the factory line.
And what you’re describing is an abomination of what capitalism was supposed to be. Adam smith was very clear about what capitalism should be. It was supposed to be thousands of butchers tailors grocery store owners, not just a tiny portion of the capitalist class
Already what you’re describing isn’t even capitalism, it’s a neo feudal relationship.
I really enjoyed this thoughtful conversation. I do wish Lex had asked this question: if socialism is so good and capitalism so bad, why did Russians live in poverty for a century while Americans enjoyed prosperity? Even poor Americans have cars, phones, AC, etc. In a Marxist society, everyone is poor and innovation squashed.
Russians lived in poverty for a century? wtf r u talking about?
@@novinceinhosic3531 Fair point, but did that large population have freedom to speak and write, did they have prosperity? What good is a space program if you're people are hungry and oppressed?
@KayiWuzurg Russia was in mass poverty, so is every other socialist nation. They even experienced famines. Extreme malnourishment.
@@bane3991 im sorry what?
This is an easy answer... and no russians did not live in poverty the whole time. It may take a while to type things up tho.
The soviets were at war wIth the calitalist powers immediately after ww1. As well as a civil war vs the land owners (the whites). The capitalist powers supported the whites, even bolstered polands army from 80k to 700k to attack the soviets and japan, US, and britain all invaded the soviets as well. The soviets had an unindustrialized country and had basically no money, they had been shelacked in ww1.
They were fked
Somehow they won, but were still fked. Especially once germany regained power as hitlers book goes to show what he would do to the soviets as soon as he got the chance. Namely kill 2/3 of them and ensalve the other 1/3.
The civil war lasted a long time. The great depression was basicslly what finally gave the soviets some time to breathe as the capitalists with all the worlds wealth were reeling.
Once it was done, stalin went ham on trying to industrialize because he knew they would be back for round 2 (well, round 4 of western europe invading russia. Napoleon, crimea war, post ww1, and hitler). This is where the holodomir happened, but people like lex dont mention the area had god awful famines for centuries. Once farming was finally collectivized, it didnt happen again. The land owners were not nice about food distribution. Hoarded it, used it against people, etc.
Stalin had went around and told veryone in like 1931, we have 10 years to catch up industrializing as we're 50 to 100 years behind the western capitalist powers with all the money. You see western calitalist powers ran ransacked china for 80% of its wealth for 100 years. That stolen wealth was used to colonize africa and for the US to expand west destroying the natives. India was randacked to the tune of like 60 trillion i believe by british capitalism as well.
See, something they dont tell you about captalism and its grand effect on the world, was that it came out around the same time as the industrial revolution. Capitalism allowed for a streamlined way to use the industrial revolution to extort the global south of its resources and wealth.
Back to the story, so stalin was right and hitler came crashing in killing somewhere between 27 million and 39 million (the russians have kept updating the number based on nkvd records and such and last count i believe was 39.5, whilst 27 has been recognized worldwide. The country was destroyed.
Now to your question. Sorry, had to set the table.
The US post ww2 didnt have any damage back home and literally had 80% of the worlds wealth as well as control of the global financial system. The US built like hundreds and hundreds of bases around the world by time the korean war had even kicked off. I cant rememebe exactly it may have been 800 by then already. They also took all of the wealth japan had stolen for themselves. Most of the german scientists. Which if you look up nazis and the standard oil, dupont, ibm, itt, ford, gm, chase bank and many more.. youll realize the US robber barons supplied the nazis with resources into 1943 (and wanted their spoils afterwards of advancememnts made in brutal war which is when theyre made most) as well as imperial japans resources until pearl harbor. Pretty shtty to supply both of those war machines.
The US also had financial control of basically all of soith america, central american and japan/germany were now vassal states with tons of their bases within. Plus a lot more stuff but it will take forever to cover that.
The US could absolutely ruin anyone in history. The soviets survived but it was rough. If anyone traded with the soviets, they were sanctioned. Countries were blockaded, embargoed, you name it. The US even tried to cut china off from global grain shipments in the 50s to starve then into submission (that would have made the holodomir look like childs play) but canads broke it and shipped them grain anyway.
I really shouldnt have to explain much more passed that.
But i kinda will.
You see the soviets had been drifting further and further from the workers being in control of the means of production to the state being in control. Many today consider the majoeity of the soviets run to be state run capitalism even. One thing is for certain, folowing stalin (who was brutal but really had a tough situation that probably garnered brutality to survive against the entire western world and thus basically the wealth of the world that was stolen vs soviets. The west would have invaded militarily and/or covertly from the inside in no tike flat with hoardes of money if extremem measures werent taken) the beurocracy started to take over, much like an oligarchy in capitalism. That plus the US dumping more money than anyone can fathom into defeating them is why they had such a rough time, which is also highly eggagerated in the west.
You see when say brazil or the philipines or peru or many many others didnt have food in the stores... it didkt effect the US. They were still going to wallop them with their corporations and overthrow their gov if they tried to disallow US corporations full swing at their resources. While in the soviet union, outside of st peterburg and moscow, if say poland or khazakhstan didnt have food in the stores... neither did russia. See the difference?
Now the US had control over many many many countries resources (as well and near all the world wealth) and bullied them into recieving goddam next to nothing for them. The US would smash you if you tried to build refineries to made something of your resources to manufacture and actually create products and make the real money. Only the west can make real products and sell them for the actual monumental profits. Theres a reason why the global south has so much of the worlds resources while being poor capitalists. Colonialism and economic colonialism. The soviets didnt get that benefit. The soviets were actually supplying the global south with weapons to resist the US and europe as much as they could. The west would supply the ruling class with weapons and promise to allow them to remain rich and in control.
The 90s in russia was the US plundering russia the way it plundered the global south. Yeltsin was a US puppet. Look up the phone call bewteen him and clinton, should give you proof. Putin actually saved the country from certain destruction at the hands of the west and its corporations.
The US doesnt want anyoje to prosper (unless they have mass amounts of US military bases within their borders) otherwise it threatens its global hegemony.
I probably missed a lot that could have added to the topic. Look up michael hudson the economist. Hes old now, but he makes wolff look like childs play. Plus he worked for chase bank and helped the CIA with their books beyond belief as well as with harvard spent a ton of time with the heads of all the people from each civilization in antiquity to create the history of economics. He is the brightest economist in history. He has more knowledge of the ins and outs both the governments books and a major corporate banks books as well as knowing the history of econonomics better than anyone in history. He literally just isnt wrong on anything. Nobody even remotely compares.
Milton friedman had his chance at a full blown economy based soley on his throries of absolute capitalism in pinochets chile. Despite what some dubious western (corporate) sources will say (miracle economy my ass)... friedman chose its ins and outs in the mid 70s and the fking economy collapsed in 1982 without the benefit of colonialism or economic colonialism to drive it. Look it up, when did chiles economy collapse. 1982. It didnt even make it 10 years. The west and its robber barons control everything from what you learn and how you learn it to what your told via the news and how your told it. They have controlled the wealth of the world for 250 years uncontested until now. Of course theyll tell you capitalism is fking fantastic. Theyre scred to death of socialism and not being all powerful and stupid rich that they will do anything they can (with control of the western governements and everything, thus militaries) to make damn sure it stays that way.
The US in the 50s-70s and china now have it right. Huge industrial capitalism and manufacturing, huge socialist reforms, huge effort to keep people from becoming so wealth they can buy the govermement (and everything else as well) and huge effort to keep financial capitalism to a bare fking minimum. State controls necessities and gives them to its citizens without an owner claiming massive profits off the top for themselves every step of the way. Still have business' and individuality without the oligarchy.
This took like an hour to type up i think ugh... i wish greed and the only care about yourself mentality BS didnt infect society so bad.
Criticize everything, offer no alternative that works better, deflect from any pushback using anecdotes of capitalism not being perfect.....a true marxist.
No alternatives? The alternative is democratic control of the economy and the enterprise. He said that explicitly.
@@n8_t8m
This seems to assume all companies are large and all companies already exist.
How are you going to vote a new business into existence? Which persons life savings do we spend to start the company?
Without an entrepreneur, do we just wait until some government body decides we need to start the next google?
Which person is going to stay up all night fretting about making payroll with their own money because a big customer is late paying and your bills are due. How does democracy solve this? Do we just vote ourselves more money?
@@flewdefur What is amazing is how many people in the comment section don't realize how weak Wolf's points are. He claims that his claim that "Marxism is a critique of capitalism" is not known and then suddenly nobody knows that.
@@paulojose311 They are incredible weak, he's emotional, obviously filled with resentment and has an obvious superiority complex over anyone who doesn't agree from his views.
@make a wish who is going to guarentee the loan? They dont just hand you the cash no strings attached.
I am a small business owner. I saved my own money for 14years to afford to buy some of my equipment.
For some loans they want your personal home as collateral. An LLC or corporation wont protect you from losing what you put up as collateral.
12,000 comments wow. Lex I've followed Dr. Wolff for some time now. I always enjoy the passionate, and uniquely entertaining way he approaches the subject of Marxism, and related subject matter. Great interview Lex !
I want to see Jordan Peterson and Richard Wolff on at the same time!!!
Jordan is too ideologically possessed for that
@@kevinbeck8836 Plus Peterson is an absolute mess these days. Would be amazing to see if he practiced what he preached and got on top of his mental health issues.
@@kevinbeck8836 Absolute bollocks.
@@kevinbeck8836 I was thinking the complete reverse.
Here you have Mr Wolff espousing for hours how socialism is superior to capitalism to someone who had his family die to the systems this verbose idiot espouses at length.
You can tell by Wolffs tone that he has gotten away with this because he is a bully, not because he is an intellectual.
Wolff challenged him/ called him out a couple years ago. I believe it was a little before Peterson debated Zizek
I recommend having Thom Hartmann as a guest. He is one of the few left wing radio hosts that has succeeded over the last 2 decades - his knowledge of history is impressive. Thom has on Wolff a few times a month.
I've never heard of this podcast or the interviewer but I was pleasantly surprised at how well it was conducted. I'll subscribe based on this. Keep up the good work .
lex is the best! youll love him
Lex is the man 💪🏻
Lex is a legend. You should have a look at him and Michael Malice. There's three i think. Very entertaining.
Yes. Me too.
Lex is great
Kudos Lex! Pleasantly surprised for inviting professor Wolff! Utterly enjoyed this talk. Yanis Varoufakis is another person with a fascinating mind.
+Slavoy Zizek
Yanis Varoufakis is such a clown. lmao
@@libelldrian173 he's ok. I attended his economics classes in Australia.
Milton Friedman is a much better economist
@@ccpj0eyb319 Liberal economics and neaolibral hegemony. My two favourite subjects.
Every Critic of Capitalism always leaves out the third leg of its definition: It's to create the best product possible, by spending the least bit of capital possible, by PAYING THE HIGHEST WAGES POSSIBLE>
the last two are contradicting statements. guess which one wins out most of the time?
Too many Americans are so preoccupied with their virtue signaling, they're not seeing their own hypocrisy.
don't be a coward. WHICH Americans?
I'm a bit shocked by many of the positive comments regarding Wolff. I appreciate his willingness to have these types of conversations/debates, but if you've read his work...seen his debates/conversations with people who challenge him, you will walk away with a very different opinion. His arguments are that of a first year grad student.
@@nicmri Most people have been brainwashed since birth in America, don't assign too much value to their opinions.
@@nicmri He's probbaly referring to the Destiny debate. That was a dumpster fire. Wolfe came in pretty combative off the start, but you can understand why when Destiny espouses some hot shit takes. Either way, both of them have value in conversation. Its just a shame some people can't have a calm, good faith conversation with opposing views.
@@nicmri Agreed, Lex is great.
Fully agree. He is simply a marxist rhetoric generator.
@@nicmri his debate with Gene Epstein was worse than Destiny. At least with Destiny Wolff responded to him, Gene was so far out of his league that Wolff couldn’t keep up and just falls back on his over-rehearsed rhetoric.
Lex thank you for your podcasts, thank you for teaching us dialog and patience.
You are a bot.
Respect to lex for having Dr. Wolfe on!
As a free market libertarian, i found this fascinating. The dispassionate exchange of ideas in an atmosphere without sensationalism is wonderful to listen to, and just lets you ponder what has been brought up. I don't buy everything he is selling, and the fact that he honestly considers an AOC administration a possibility gave me a brain tumor, but he does make some interesting points and shows some history that we never really learn. Thank you for a tasty interview.
Honestly, I could see her gain traction
Please give an example of a country which has a successful "libertarian free market". I could do with a laugh !!
@@jupitermoongauge4055 Look in the mirror. That will be all the laughs you need.
@@KDH-br6hy That girl is dumber than sand. Then again, so is the average American voter.
@@jupitermoongauge4055 sommalia. Also argentina has an an-cap president now. The pain and suffering is success in a capitalists eyes.
You pretend to pay and I’ll pretend to work. - results.
Exactly
Yeah, the “can’t step in the same river twice” thing didn’t come from Marx’s “teacher”….unless Marx was VERY old indeed. That quotation is actually from Heraclitus, who lived about five centuries before Jesus Christ, never mind Karl Marx.
Said the same, for saying he was a Philosopher, that he doesn't know Heraclitus is surprising!!! But then again Marxists worship Hegel.
Very true
Big deal, he misquoted Hegel 🤷
Read, study and understand all three volumes of Capital before you shit talk Marx, otherwise you're just a fool talking out your @$$.
Big deal, he misquoted Hegel 🤷
Read, study and understand all three volumes of Capital before you shit talk Marx, otherwise you're just a fool talking out your @$$.
Thank you for the work you are doing Lex. It’s a breath of fresh air to here ideas discussed and debated in a long format. I believe what you’re doing is extremely important. You’re blossoming into one the the best interviewers we have today, keep up the good work.
This is amazing.
I have been convinced that i really had no idea what Marxism really was.
Ive read the books, ive talked to all these Marxists and i always assumed i wasn't smart enough to understand the books and the Marxists i spoke to weren't smart enough to explain it...
I am now listening to the world expert on Marxism make the same smooth brain, fairy tale, semantic, gold medal mental gymnastic arguments ive heard at nauseum.
Marxism really, truly is nothing more than a strawman argument to capitalism.
It has no actual solutions to the strawman arguments it makes.
Wow.
Well said. I think if you follow their logic, you end up with massive expansion of government power, debt, printing and war. Which is exactly what we're getting from the swamp!
Wow you are you really telling yourself there, aren't you? lol
Great comment, thanks for that
This professor is a complete idiot. Like seriously dumb.
So then, you fell incredibly short of understanding his analysis and rather than recognizing that failure to understand and identifying your own propensity to dismiss those elements of the topic which you are failing to connect in a cohesive way to the conclusions this 3 time Ivy league scholar is presenting to you, the public and his colleagues in academia as rational explanations for our currently collapsing society, insane rates of wealth inequality, quality of life discrepancy, diverse life expectancy ranges and highly frought political landscape..
You have boldly chosen to simply conclude that it is a "smooth-brained" & useless idealogy that has no real valuable application.
Yes. There you go. Are you out of touch? No.
It is the academics, intellectuals, professors, activists, and the globally embraced framework itself that is the problem.
That same one that continues to be upheld in many cultures, over many periods of human development and disseminated through countless languages?
Turns out- it's a load of simpleton garbage and *you* simply happen to be miles ahead of a substantial part of the globe in terms of intellectual capacities.
That is of course the most reasonable explanation.
Surely it must be. It couldn't be that your track record for failing to absorb the complexities of the topic in a concise and seamless way, the one you readily admit to having, is once again playing out in this instance despite hearing it from an expert.
I'm just wondering.. what with that massive, throbbing, brain of yours... how has no one recognized you yet with some sort of official honor?
Most superior intellect of the last 3 centuries? Superintendent of the universe? Marx-crusher 9000? 🎉😂
50:00 he really glossed over the fact that companies do pay for the risk in a way. The example he used of someone relocating for job, usually that person gets paid to move in one way or another. Its also usually a higher paying position vs the person who works locally really isn’t taking much of a risk especially if its a low skilled job. Lex brought up dangerous jobs which usually pay more. There’s definitely a huge amount of risk in being the business owner. Wolf also makes the assumption that the owner is just rich and can financially handle their company going under, thats rarely the case.
yeah exactly! I thought this answer or rather NON answer was really poor. Surely he isn't so intellectually poor that he cannot see this? Therefore I wonder if its just the consequence of being an ideologue.
What makes you think someone that works locally doesn’t take a lot of risk? Did you just gloss over what Richard said about the childcare workers? What about Amazon or factory workers. If you get injured on the job, in a capitalist world, that’s on you as the worker. Also the majority of people don’t get relocating reimbursement or stipend.
Earlier in the podcast he also glossed over the fact that The surplus product goes to every other Members of the society as a whole Therefore the more/surplus Contributes to fellow citizens in need/want That surplus
@@playea123 The childcare worker argument is just an appeal to emotion who should set the rate for childcare workers in his case then? How much should they make? This is already taken care of by supply and demand for their labour.
Sitting out in all weather and moving around a lot outside seems potentially more uncomfortable than child care.
That idea of businesses being run by the democratic vote of each employee regarding every decision sounds like a recipe for chaos, inefficiency, and lousy products and service. Think your local MacDonalds or Ford Motor Company. Every time I watch Richard Wolff, I find myself not only being annoyed by his mannerisms and certitude, but challlenging most of his assertions in real world situations.
I don't know. We already have worker co-ops like Publix supermarket where the employees own the company. I'd like to take a closer look at that.
@@tommyanomaly6193 just because employees own a stake does not mean they own a substantial enough stake to make a difference. And when things become large scale asking the employees to make the decision based upon a democratic process is even more atrocious.
@@Irishhound Their may be a way to make it work. Obviously we already kind of have that with public companies. I've voted for corporate boards where I've owned stock before.
@@tommyanomaly6193 public companies is a part of capitalism. I have no problem with critiquing the current capitalist society but capitalism is by nature evolutionary. This is a hard concept for Marxist people to grasp but capitalism has always been around, it just hasn't always had a name.
@@tommyanomaly6193 and even when you vote for a corporate board, your vote is based upon shares, which is connected to risk.
thank you for having prof Wolff on 🙏
I believe you can do whatever you set your mind too brotha don’t buy into this Richard wolf shit it’s legit scary he’s for killing people to make sushi less expensive haha he’s about as wrong and insane as it gets dawg
3 hours of the old argument "Socialism only failed _every_ time, because they didn't do it right."
@@badluck5647 Yeah Lex's 'love' concept is becoming a bit of a concern. By the numbers, listening to a proponent of communism wouldn't be as bad as having a resurrected Adolph Hitler on your podcast and showing 'love' and 'empathy' for his perspective. At some point you need to stop being naïve and realize that there is a small percentage of the population who are born as clinical psychopaths. We have stacked up enough millions of corpses in recent history to entertain these vile advocates of demonstrated evil ideologies.
@@badluck5647 it didnt even fail it was illegally dissolved. And idk who even wants capitalism if he is not one of the few billionaires on the planet
@@badluck5647 and why does capitalist state sudan and all the other capitalist states who failed fail? it has to be capitalism right? its the same argument.
March 8, 2024 currently 16,461 comments. COMMENTS! Number of views? 2,900,000. That's pretty impressive Lex. This interview with someone who isn't exactly well-known, and who is a Marxist, and which is 3 hrs. long, I watched all the way thru. I assume some of those others did too. This is the only place I could access someone like Richard. It's a whole new kind of "TV". Even such high-brow shows on the old PBS would never have devoted so much air time to such an interview. Say and think what you will of our current culture, and the role of technology, but this UA-cam has made a big indentation.
I'm impressed how Lex is able to ask interesting questions to such a variety of interesting guests. It is important to understand classical, Austrian and Keynesian in addition to the Marxist ideas. While I disagree personally with Wolff, I appreciate being able to hear him lay out his arguments without interruption and be asked well thought out questions with little biased showing from Lex.
You’re speaking my thoughts much more elegantly than I could have put it. I strongly disagree with this guest, but I know it’s best for me and everyone to allow him to share his pov. What bothers me is his level of education and his influence in educating the next generation. But the best thing we can do is let him speak. Great work, Lex. More sunlight.
I think it’s important because Wolf says it best Marxism stands a critique of capitalism. We have to let our sacred cows be attacked to see where it falls short and really analyze where we can truly improve or if something is a feature of the system. It’s how we progress further as a collective species.
Whenever someone says 'they disagree with Wolff' i always wonder why? Are u Rich? Is a relation of yours on Wall Street? Because people in the position of power, who are well connected and benefit from America's current system are the ones who 'will or shd disagree with Wolff'. If you live on paycheck to paycheck and pray everyday that you don't get sick because you know you can't afford healthcare, *Why would 'you disagree with Wolff?'* Brain washing is a hell of drug. Smh.
@@mikhelBrown No hate from me, Mikhel. And I appreciate your curiosity so I'm happy to answer your questions. I'll start with your 2nd question; 2) I'm not rich. I happen to be unemployed (working a lot, but not generating any income) and I haven't had income of any sort since November. I'm beyond broke. I'm basically homeless, but challenging an eviction only to prolong the process, and allow myself more time with a roof over my head before I'll be homeless in August. My car was repossessed 2 weeks ago. I'm the opposite of rich. I don't share this info with anyone and now I'm telling anyone who cares to know, only because of how much I appreciate your reply. Other than the hate you try sending, but I'm choosing to leave that, and I'm not going to send any either.
Question 2) No relations of mine are on wall street. 3) I don't live paycheck to pc because I haven't received one in 7 months. 4) I haven't had healthcare in 2 years and I do have medical needs that I'll keep private.
Finally I'll answer your 1st and last question: I just think his solutions are short sited, and fail to consider enough variables. Mostly variables related to how humans respond to incentives, for better or worse.
That's all. Not everyone agrees with me, and I don't agree with some people. It seems you and Wolff are on the side I disagree with, and I'm sorry that makes you mad. God bless, bro.
@@JPVerc "What bothers me is his level of education and his influence in educating the next generation" > Uhh so you'd like to censor him??????? Something like this happened in this country in the 50s, it was the HUAC trials, and they were some of the most UNAMERICAN things to ever happen in this country, and might be on par with Slavery, and killing of the Native Americans. "Best thing we can do is let him speak", Oh gee your lordship, how kind of you. Stop thinking you're the center of gravity, this might be why you're in the situation you're in.
It's interesting to read through these comments and see all the time travelers with their critiques of the content.
Yes it is very strange to read detailed conclusions before it could possibly have been watched.
People casually timeshifting out here
@@cjpj72 We've heard his shtick before. It's predictable.
@@cjpj72 You do know there is a feature that allows you to speed up how fast it plays.
@@equaltoreality8028 Or to look at key elements of that podcast that take around 20-30 minutes out of entire conversation
I really enjoyed this Lex, a very well orchestrated discussion with insightful questions. Even as a politics and economics graduate I learnt a lot and this is one of the clearest expositions of Marxist and Socialist theories I've ever heard. It really brings to light the amount propaganda and misinformation surrounding the subject. Thanks Lex and thanks very much Richard Wolff.
@@gwho Yes like you before listening to this I would have conflated Marxism with The Soviet Union, Venezuela and all the other examples of why Marxism doesn't work, even George Orwell's Animal Farm too. But listening to this you learn that Marx never spoke much about the State or Government intervention, it's a critique of capitalism. Which has its flaws one of which being it tends to create oligarchies that stifle competition and can be exploitative of both consumers and employees. In the UK we have the Competition and Markets Authority that regulates mergers, and prevents cartels and price fixing ETC. I never knew much about Bernie Sanders brand of socialism which Richard Wolfe tells us is based on the political system in Denmark, with its welfare state, high rates of union membership, collective bargaining, democratic and liberal government and free market economy. Was Marx completely wrong? Considering he focused only on the economy. He failed to predict , the welfare state, free education, health care, unionisation, the minimum wage, improved working conditions ETC, which you can describe as revolutionary changes in our economy and society as a whole. Also government intervention like President Franklin D. Roosevelt's New Deal - certainly not a Marxist. These type of developments and interventions may have prevented the complete break down of capitalism and an emergence of a revolutionary consciousness.
Many successful businesses now have a much less hierarchical management system employee networks, unlimited holidays, agile, hybrid working, profit share, a four day working week and generous bonuses ETC. How much of these changes are simply a natural development of capitalism and how much is owed to the influence of Marxist and socialist ideology and forces that Marx identified? You don't have to be a Marxist to acknowledge the impact the ideology has had on the economy and society.
@@ayobamidele I won't deny that one can find interesting and enlightening thoughts in Marx's writing, but Marx's writing is not what "Marxim" is in the world, in fact his writings are almost inconsequential to the majority of people who call themselves Marxists, as they have never read it and only heard the repackaging of it by rally leaders and Twitter people nowadays. The rest of the world knows Marxism as the result of the actions of those who call themselves Marxists.
If marxism is a great idea, but can't be implemented by humans because they ruin it every time, is it an actually feasible idea or just a fantasy? Human nature seems antithetical to allowing marxism to succeed; it's not capitalism that creates oligarchs, it's human greed. If humans were prone to Marxists ideals, capitalism would also work better because humans would have to be generally and universally more humanitarian and less competitive in nature for Marxism to work.
My point is, if you are trying to shoot a bad guy, and you keep hitting and killing good guys by the tens of millions...
You are the bad guy, no matter how good of a guy you would be if you could just. Stop. The bad guy.
No amount of claims about "misinformation" would make Marxism doable in this world. You'd kind of get a clue by the time it was tried for the umpteenth time. Mr. Let's Talk About Prepping put it pretty succintly. It's an ideology that will never, ever work, and I am absolutely gobsmacked that people still defend it.
@@ayobamidele FDR was pushed by the leftist of the time which were unions, communist, socialist, Marxist for the reforms to the system. He was a rich man & branded a class traitor for his actions. He very much viewed it as saving capitalism but for both the capitalist & the worker. American history is filled w American leftists that fought w blood reforms. Too many ppl think capitalists woke up 1 day & decided to do good things for workers. They fight unionization drives left & right here. Majority of things you mentioned are hardly a benefit here such as unlimited time off
I agree, but I would add that this is only a VERY short insight into the theories of Marx. Studying Kapital I, II and III is a tremendous effort, that I have yet to undertake fully, but it shows the sheer amount and uniqueness of analytical and visionary (considering his time) thinking Marx had to offer.
Lex acts like the saying, "privatize the gains, socialize the losses," does not exist for a reason with many examples to look towards.
I think it's great that you're explaining your thoughts at the beginning of every episode.
Right... The passion in his intros gets me hooked every time. Especially on topics personal to him.
This seems like one of those podcast episodes that probably go in the hall of fame in some lists.
This guy should go to the Museum of Communism in Prague, where they explain how quickly "let's help the working class" turned into "we're all poor, hungry and forced to be silent about it"
Remember that Marxism & Communism have worked everywhere they’ve been tried ! Oh well I guess that’s not true but maybe next time ?
Yep, as well as other countless examples. Of course Wolfe would say it wasn't done right or it was a misinterpretation of Marx amd Ingalls.
1:08:16 - “every measure to help the standard of living of American workers has to be fought for against capitalists for decades”
It never needed to be fought for.
People could just refuse to work for the job at the wage and find another job. This raises the wage.
Fighting for artificial raises in wages causes inflation, which distorts the market, and negatively impacts the poorest people (who are likely not the beneficiaries of those who fought for the inflated wage.)
“minimum wage… blocked”
Yes, because every time minimum wage is passed, less skilled workers are laid off. Usually, this is teen employment.
This places fewer people in the experienced work force later on, for real jobs, and reduces labor force employees of younger ages, because they never experienced people training them how to arrive at work & leave at work on a regular schedule.
We see the results of such distortions in nations like France.
We also see the export of jobs overseas, every time there is an increase in minimum wage.
I would very much love a 1-1 discussion with Lex moderating with Prof. Wolff and Yaron Brooks/Any proponent of a capitalist market. That would be utterly fascinating. No antiquated debate stage formalities, just one-on-one side by side.
@@synchronium24 Wolff does not do this
Dominic Frisby and Richard Wolff debating would be good.
@@synchronium24 Yaron doesn't advocate capitalist market... He advocates Objectivism, a philosophy of life and reality which yields an emergent order of voluntarism, property rights, and peaceful cooperation. He is the only person who defends "capitalism" correctly from it's moral and philosophical roots.
@@synchronium24 I agree that Wolff doesn't defend socialism well, if only because he evades the question of how to force compliance and the basic fact that coercion as a means of collecting and distributing wealth is completely indefensible.
Prof. Wolff and Yarod Brooks have debated before, which is available here on UA-cam. In my opinion, Mr. Brooks is no where near the level of Prof. Wolff, which made their debate extremely frustrating. I do not know who would be a good pick, but a deep scholar and thinker who supports Capitalism (if there are any!) would be good to see debate Prof. Wolff.
I don’t really know much about Lex other than occasionally seeing him in clips and stuff. My general thought is that he’s a center right libertarian kind of guy but funny enough with a completely different temperament than I normally see. Seems a nice guy who actually listens, and I mean *really* listens.
center right? hardly, he is a leftist.
I made the mistake of starting to watch this interview at 1am. I thought I would only be watching a few minutes. Richard Wolff is amazing and great questions Lex. Great interview but 4am is way too late for bed.
Man this guy is a fool. Show me a country, out of the dozens that have tried communism, that didn’t massively impoverish masses.