Western Capitalism’s Decline Posted on 2022-09-07, Richard Wolff, Democracy at Work A Patron of Economic Update asks: “Hello Professor Wolff, I’m not sure how familiar you are with Canadian economics but things are very bad here. The average home price in 1980 was $47k ($163k adjusted for inflation), in 2000 it was $119k ($190k adjusted for inflation). Between January Read more…
The Truth About Markets, Pillar of Capitalist Ideology Posted on 2022-08-19, Richard Wolff, Democracy at Work Article by Richard D. Wolff “As capitalism sinks into ever deeper trouble, it is time to topple false Gods as part of the process of finding our way to better institutions, and indeed to a better system.” “Market mechanisms” Read more…
Marx on the Role of the State Posted on 2022-07-22, Richard Wolff, Democracy at Work A Patron of Economic Update asks: “I recall having heard you say that Karl Marx never really talked much about the State because he wasn’t all that interested in the State. People tell me their beef with Karl Marx is Read more…
Is Systematic Change Possible? Posted 20-06-2022, Richard Wolff, Democracy at Work A Patron of Economic Update asks: “Prof. Wolff, do you believe the equality we seek can be brought about by the swift and sudden collapse of corporate fascism, a civil war, or by an evolution in the culture through constant promotion of Marxist/socialist thought? Would the latter be Read more…
Supply Chain Disruptions… a BS excuse Posted on 20-06-2022, Richard Wolff, Democracy at Work This is Richard Wolff from Democracy at Work with another Wolf Response. This time my response is to something that gets real close to gibberish. It’s the so-called supply chain disruptions. It’s the go-to explanation every time some embarrassed CEO or Read more…
Posted on 2022-06-11, Richard Wolff, Democracy at Work A deafening silence defines “debates” among U.S. leaders about stopping or slowing today’s inflation. Alternatives to the Federal Reserve’s raising of interest rates and curtailing money supply growth are ignored. It’s as if there were no other ways to rein in price increases except to add more Read more…
How Worker Co-ops Handle Bankruptcy Posted on 2022-05-25, Richard Wolff, Democracy at Work A Supporter of Democracy at Work asks: “The concept of the productive worker being both employer and employee in all areas is brilliant and necessary to overcome the injustice of the potentially dangerous and egregious financial disparity between that of the upper earning and the lower Read more…
The Different Ways That the U.S. and Chinese Governments Use Their Power to Regulate Capitalism Posted on 2022-05-03, Richard Wolff, Democracy at Work “The socialist left now, as during earlier centuries, advocates for an economic system that does not yet exist in any nation. However, the socialist left does so with the knowledge of what happened Read more…
Government Finance – The Truth Behind Borrowing Posted on 2022-04-15, Richard Wolff, Democracy at Work Two Patrons of Economic Update ask: “Can you please explain the difference between the government borrowing money (from the corporations/rich/other countries) vs. printing money? What are the differences between government bonds for financing infrastructure projects or public goods, and borrowing money from corporations and Read more…
What Marx and Marxism offer Today? Posted on 2022-03-15, Richard Wolff, Democracy at Work Marx died in 1883 so we’re talking 150 years of the spread of his thinking and writing literally to every country on Earth with loads of people contributing their varying interpretations of what it all means. But I want to focus Read more…