Ask Prof Wolff: The Tasks of Socialist/Labor Parties Today

A Patron of Economic Update asks: "I would love to see a response on the nature of the Neo-Liberal reforms worldwide and their impact on the economic and social objectives of leftist political parties. It seems to me at least, that the labor movement worldwide has capitulated on many economic fronts; moving away from their socialist pasts, to becoming compromisers of capitalism."

This is Professor Richard Wolff's video response.

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“A magnificent source of hope and insight.” Yanis Varoufakis, Greek economist, academic, philosopher, politician, author of Talking to my daughter about the economy.
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[Atticus]

We have to end American capitalism, today!

[stevesmith]

As George Monbiot here in the uk and Mr Varofakis in Europe suggest, Socialism needs a better story. You sir are one of the key storytellers. Keep doing that.

[indricotherium]

Sadly in the UK I don't think the British Labour Party has the urgency, determination, the strategic talent, the confidence, the will or the vision. If only they would prove me wrong - but I'm not holding my breath.

[caseyakasubzero]

I appreciate proff wolff alot his updates are straight forward workers own democratic jobs are a necessary step to stopping private sector and profit motives

[SeanStebbings]

Melbournian here, there have been revolutionaries in the ALP in its origin and history but has never claimed to be socialist. The party has always stood for reformism.

[johndoe-bqxt]

Professor, what is the name of ur group that starts up co-ops? U should start taking the unemployed and startup a co - op" we need to start from somewhere !

[JJSPARROW]

Credit & Resource base system.

Each country provides the credit required for cost to produce. Buys the resources. Uses it domestically, sells surplus internationally.

All major resources produces are a co-op owned with a corporate oversight to provide reports for credit worthiness.

Countries Treasury and Banks perform required credit checks, efficiencies etc for future provisions.

On imposition of taxation in a transaction tax to curb inflation with one import excise, one export excise and one customs and duties.

if credit is provided for a region to produce wheat, wheat is produced by the co-op owned food businesses (farms). The Corporates oversee the allocation of funded, hired by the Co-op board, they also seek out contracts. First priority the countries demand bought by country, second is seeking out external contract buyers and providing them to country for sale.

They country buys all product and pockets the revenue from the surplus, but provides a commission back to farms for the international sale.

Rinse and repeat for all food and fibre farms, all other resource types.

[samkim]

thank you prof Wolff . The player on this show Are Number 1 Army Number 2 Obama and Clinton Number 3 Bernie Sanders and Ocasio Cortez in United to state right now . This year winner of Oscar academy . yes 🙌 guess who

[williamblack]

I agree, no more wasting time trying to reform or save capitalism. We've already tried that with the New Deal. We need end this now and estabish a real economic democracy this time. I'm afraid the only other alternative is fascism.

[pascarey]

ONE Campaign, anti-poverty NGO, found that to date, the United States, the European Union, Britain, Australia, Canada and Japan have already secured more than 3 billion doses - over a billion more than the 2.06 billion needed to give their entire populations two doses.

[petestanton]

Is fascism likewise defined by people who call themselves fascists?

[alloomis]

step one: get democracy.

step two: use citizen initiative to shape the nation as its citizens desire.

step three: enjoy. everything else is bullshit.

[eoin]

The only somewhat popular left parties are social democrats at most and it's depressing

[bobby]

There are very strict guidelines for what socialism means.

Socialism is the planning of an economy with the goal of defeating the predatory phase of human development.

[silkroadhealth]

Okay, sold. So what is this “huge socialist program”? What exactly are you proposing that we do?

[Truthseeker]

The problem is what do you do when domestic companies (and capital) decide to offshore production? You cannot stop them. In a nutshell, the economic game must be played along the same line in other countries. But it never is. Countries cheat. China could not care less about worker's rights or the minimum wage. Adoption of a currency strategy vs the $ to maintain competitiveness. Same with India. This is why Trump got elected. And this is why his movement will not go away. The US and much of Europe have been victims for a long time.

[cyelannford]

No, Socialism is not a grab bag of different narratives. Current usage as Marxism, Communism, Social Programs, free welfare goodies, etc etc etc is wrong.
Socialism has yet to exist, period.
Socialism is a Theory created by early Protestants as a possible economic system controlled by Society, a democratic owner-operated business model that is *of the people, by the people, for the people* .
Socialism: any of various theories of the ownership and operation of the means of production and distribution by Society rather than by private individuals, with all members of society sharing in the work and the products.

Webster's New World Dictionary and Student Handbook

[coolconfuzer]

Where do the open borders and gays fit into labor rights? Just Wondering...

[son-of-the-republic]

This is what an adult child looks like. He wants daddy to pay for everything