Economic Update: Understanding Communism Pt. 1

[EU S14 E36] Understanding Communism Pt. 1

On this week’s episode of Economic Update, Professor Richard Wolff offers a special episode discussing the unscary origins of the ideas of communism and socialism before the Cold War demonized them. We will discuss how socialism's history evolved into separating socialism from communism and creating multiple, different meanings of what is considered communism today.

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[marygard]

For those of us raised amid Capitalism, Communism requires an extensive mental reset. The same 'reset' created Capitalism itself.

[Simia-ev]

Love the way Dr. Wolff explains all this so clearly

[natemans]

It's incorrect to call Communism Utopian. Engels wrote an entire book on this. It will still come with it's own issues that will need to be worked through, but it will have the common interest of the people driving it.

[gabriel]

I can't thank you enough for clarifying what communism, socialism and capitalism are all about - PRW. The gloomy world is saved thanks to people like you.

[dalton]

Awesome video! I was blown away by the recent economic data! There seems to be uncertainty over inflation and the U.S. stock market is at a crucial crossroads. Despite growing concerns among investors, the economy shows signs of resilience which could help Bitcoin remain stable. Interestingly, the crypto market, which is usually correlated with the U.S. stock market, has been moving in the opposite direction. BTC and the Nasdaq are currently bouncing back. However, with the sentiment changing fast now is the perfect time to get into the crypto I have managed to grow a nest egg of around 100k to a decent 732k in the space of a few months... I'm especially grateful to Linda Wilburn, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.

[lucianfiul]

'Enough for everyones need but not enough for everyones greed.' 😮

[tuakanaholmes]

Thank you for all your hard work in trying to enlighten the world on the truth of a system that can benefit the 99%

[lillianmckelvey]

In the 70's when I was working for Chrysler--tried to push the Union to have workers participate in ownership, they didn't want it!!!

[katariina.s]

Such a clear, interesting and passionate explanation as always!

[Kevinbrian]

The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.

[ianlang]

Brilliance is making the incomprehensible comprehensible. This man is brilliant. And a joy to listen to.

[LawnikZZZ]

Спасибо. Как я вас понимаю прожив в последние годы в СССР. Наши элиты посчитали за нас как дальше жить.

[niurkatrudeau]

Great explanation, very clear for all the ones that want to understand the real meaning of the word and not what some others try to make you believe, thanks 🙏.

[patriciacvener]

I always enjoy Professor Wolff speak. Thank you!

[jaypayso]

What’s stopping free individuals from starting their own “communes”?

[JoseLopez-ysoz]

The road from capitalism to communism requires the removal of the small group of people who today make all the decisions, and installing in their place the people who themselves are involved in producing the profits. Today, while 9 of the 10 richest men in the world are United States (US) citizens, 38 million Americans live in poverty, and 60% live from paycheck to paycheck. Only 33% of Americans are satisfied with our Democratic or Republican governments, so why don’t we try a third political party candidate who promises to end US imperialism? The US has consistently refused to comply with 42 United Nations’ resolutions demanding that it immediately return Puerto Rico’s sovereignty to the Puerto Ricans. The world, instead of believing the US’ claim that it is “the champion of democracy”, considers the US as the biggest threat to peace. The People’s Republic of China has a win-win relationship with other nations, which means that she is not an imperial power. That has permitted China to have already eradicated poverty, despite having 4 times the US’ population. Unlike the US, China would never sponsor the genocide of the indigenous people of Palestine, or any other people! We need to learn about capitalism and communism in order to organize ourselves to engage in permanent resistance to save ourselves and our planet. Moving from imperialism to democracy is up to us. We don’t have much time!

[Niclas-uifh]

Thank you Prof Wolff and the team behind Economic update. You guys have taught me so much

[RossSpencer]

I often wonder how successful investors are able to make millions of $$ from trading stocks. Im completely new on this area of investing. Long story short I have a couple thousands saved up which i want to invest for long term and I know this sounds a bit dull but, I would like to know what advice you could give to start my investing journey

[chuck-wvnh]

In the early 1980s, China undertook a massive reform that dismantled its socialist rural collectives and divided the land among millions of small peasant families. Known as the decollectivization campaign, it is one of the most significant reforms in China’s transition to a market economy.

[TheControlBlue]

People never tell about the other quote of Proudon:
"Property IS Freedom!"

I wonder why... Maybe because it goes against their own justification for thievery?