Economic Update: Political Strategy for Transition

[S9 E44] Political Strategy for Transition

This week on Economic Update, Professor Wolff discusses a political strategy for transition beyond capitalism to an economy based on democratic worker-owned co-operatives. The first half explores the history of the transition from feudalism to capitalism, while the second half draws lessons from that history to provide a strategy for a transition beyond capitalism.

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Prof. Wolff's latest book "Understanding Marxism"

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[mynameischess]

Thank you for everything you do Dr.Wolff.

[Skylarking]

Wolff has become a leading public intellectual, one of our best, especially for these times.

[MarcusKhaos]

The best account of how feudalism emerged, peaked, and decayed into capitalism. I've been a socialist since I read Marx as a 12yo, and I feel like this is one of the most eye-opening political moments since then. Thank you for the important work you do, Pr. Wolff and Democracy at Work.

[ColinsFreakinDadCFD]

Thank you for your videos. As a student of economics working towards my MBA I appreciate that not everyone is preaching the 'growth at all costs' model that capitalism espouses.

[shawnmorgan]

Love hearing issues described in a historical perspective.

[chwest]

BEST CONTENT! MORE OF THIS PLEASE. Thank you Richard Wolff an Economic Update

[josephregallis]

It's time for a Workers Coop Political Party!

[davidlewis]

Professor, you are wonderful. I'm 64, disabled now but i sure wish i could have had you for a teacher, growing up. You've taught me so much in just the last year of watching you...more than i learned in the previous 30! God bless, thx!🕵🙏😇✌🖖😘😍

[publicdomain]

Getting my pension now at 62. Unfortunately it will be insolvent in a dozen or so years. Capitalism sucks the well dry and leaves thirst and despair as it moves about the world.

[touringnews]

The second half of this video will be remembered and studied as a unifying moment. Thank you.

[sybilcochrane]

Getting more and more interesting Dr. Wolff!!! THANK YOU!!!

[victorialeif]

This was fantastic! Dr.Wolff told a story about how society can organize itself, instead of just listening, on network news, to all of the negative stories and misinformation designed to suck the hope out everyone!
There need to be story tellers, song writers, and playwrights to move people toward such change. Sound bites and slogans are not going to cut it.

[galvo]

Dr. Wolff, I love your work! Please bring class consciousness to Australia, we are in dire need.

[domingodeanda]

Thanks for making it clear to us Mr Wolff.

[nickthesupersaiyan]

The way professor Wolf explains Marxism and capitalism makes it easier for newer people to this stuff. You are changing minds Professor!
You are one of the best leading intellectuals in America right now.
Thanks professor for all the great work you do!

[heinzklar]

" No taxation without representation " is still valid for the 99% of us.

[EnvironmentalCoffeehouse]

Thank you for articulating this for us!

[BoraDemircan]

Thank you for your great explanation Dr. Wolff. Off course this brings a couple of questions. I'd really appreciate if you could mention these topics in your future videos.

1. You mention that capitalism was born out of feudalism. However, capitalists actually formed and operated their own economic and political system and attracted the serfs where it became more appealing to be an employee rather being some kind of a slave, which increased the overall welfare for them. So this was a "revolutionary" and direct change in the economic model. On the other hand, with this economic power at hand, they formed and operated the "parliament" which was a "revolutionary" change in the political model, from autocracy to capitalist democracy. Maybe it was not quick and easy but it was a revolution after all. This means they brought an alternative playground and forced everyone to move towards it. There is a system change.

However, the idea you propose concerning the coops is that the coop model has to find its way within the existing rules of an economic and political system where all the favors are against them. Is this the same thing?


It brings the question of how coops will gain power economically and then politically in this capitalist playground without starting the new system like the way capitalists did? Or can they even start one?


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2. Before a globalized economy, the "employees" in America were living happily with adequate wages and a stable economy. However, when labor in countries like China and India became an opportunity for the capitalists to reduce their costs rapidly, the game changed and American employees are not happy anymore. The competition is much more harsh than ever before.


Besides, these huge global corporations make the most profit with the lowest wages as ever before. These corporations make such huge profits, they can sell even at lower prices if it gets even more competitive.


So, how can coops compete in this huge competitive environment where "profit" is the primary aim to survive in the market? Or, how does the existing coops do it?

[Preacher_.]

I didn't know Richard Wolff had beats.
Love the show man,
Live Long & Fight On. ✊

[mikegoesnike]

No body in the US can tell the story of political economics as simple and easy to understand as Professor Wolf does.