Ask Prof Wolff Live - October 25, 2023

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Join this iteration of "Ask Prof Wolff" where we respond to your questions live!

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“Marxism always was the critical shadow of capitalism. Their interactions changed them both. Now Marxism is once again stepping into the light as capitalism shakes from its own excesses and confronts decline.”

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A couple minor audio cutouts, but overall a huge improvement to the last Ask Prof. Wolff episode. Thank you for working behind the scenes to make this vital programming as good as it can be, and thank you, Prof. Wolff, for more thought provoking insights and common sense.

AvianAndLoaded
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I greatly appreciate Professor Richard Wolff’s exceptional ability to articulate the interconnectedness of equality and financial stability in his teachings; where almost everything exhibits a profound connection to the realm of finance, wealth, and social class. His impartial and insightful analyses consistently stand out as a remarkable aspect of his work.
🙏❤️🙏

johleby
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Thank you so much!
Freedom is the recognition of necessity.
~Friedrich Engels

sizzla
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Prof I am so happy that you changed your format to a live broadcast. You are improving with each episode in tweaking the technical issues. I depend on you and Harriet for well balanced and informed discussions as well as the contradictions inherent in our broken system.

stella
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Thank you again, Professor Richard Wolff. I agree with you totally. Many blessings to you for all your dedication to truths.
Politics has its plays on all sides, no matter which year or president. It's a chess game, and you understand economics.
Basque, Spain, early in the 50s .
What happened to Hershey chocolates, years ago? This couple had no children and they built schools and homes for their workers and paid a fair wage. Who undid that here in America?

cheri
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Increasingly, I've seen how the state's main function is to keep those in power in power. Not necessarily the individuals but the same elites as a group.
edit: I do like the new format. Excellent work everyone.

dinnerwithfranklin
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Hi Richard please do Interview with Paul Cockshott or Steve Keen

xgxfhzxfuhfjgfhgf
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I think saying we may not have time for many questions may well be most true thing you said sir. Sadly the world has lost its sanity and has a moral compass with a personality disorder so I think time is to be appreciated !!

EamonCoyle
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4:50 the wolff appears ^^
Also, can we maybe get subtitles of what was said in the cutouts later if possible?

lordk.gaimiz
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I wish you were the president or head of the us treasury.

redbhdfw
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So his answer to the AI question is that there are no worries, because the employer class will share the profits with the employee class. I mean, they never did before, but this time, the professor suggestes, it will be better. Wow.

Who_Let_The_Dogs_Out_-
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I would have hoped you could have addressed the colonial, imperialist state of Israel and what its history has been in the region since the Nakba to present. The imbalance of power between the people of Palestine and Israel should be subject to Materialist analysis. One has nuclear weapons and the support of the world's most powerful military and propaganda machine, the other has improvised munitions and rocks and a population that is mostly children. It's how the situation is, not how some imagine it to be, as a conflict between two equally aggressive states. Palestinians don't have a fraction of the wealth and the privilege that the Israelis have. They are aware of that imbalance, and fight to rectify it. Framing the issue as simply a political one between two equal combatants, who simply need to sit down at the bargaining table to work out their differences is a bit of a deflection and disingenuous. I hope you can stand up as a Marxist and as a human being and state that you stand with the oppressed people of Palestine. We need courage from the revolutionaries, not capitulation to the narrative of the Imperialists. Free Palestine!

eveningchaos
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Imagine making economics interesting. 👍

johnnopeyy
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I have a question!? I'm curious about your monthly expense report for Democracy at work? 50k a month?

donrahstar
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The notion of corporation dates to Roman times and refers to the organisation being able to survive beyond its owner. Until then corporations didn't exist, as firms were inexorably linked with the life of the owner. Shares are a much later development see West Indies Co et al. Of course there is nothing in economics that says you have to issue shares, you can also get a loan. The main problem is that we have few banks that are sympathetic to small firms or coops. Plus for most banks start-ups are non-starters. These are major stumbling blocks. We need the equivalent of organisations to be financing these, which ideally should be non-banks :-)

dimitristsagdis
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The video is too quiet. I listened to it at the maximum volume and still could not get a thing. Please fix this in the next episode!

affectus-sive-passiones
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How does the Israeli economy maintain a certain stability as a fiat?

dr.bendahveedisrael
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Prices go up but the value of goods have been going down is the real interaction between prices and value. Value is the amount of time it takes to make a physical product which we all know most products are mostly made by machines and hardly is there any real labor going into the making the products. If it took 100 workers to make a car part in a factory. Today that car part is made with 10 workers running the machines that makes the product. Value has dropped to1/ 10th of 100 workers it took perviously, and if prices are raised by the owners of the products than the money-name of the goods each unit cost is 1/10th of 100. They call this productivity. There is a real incentive to automate production at a feverish pace. As we all know the more industries automate their production process the less live workers industries need to manufacture goods and the higher is the rate of unemployment. The whole employer class needs less labor to make their profits. This explains why 60 million out of 132 million workers in America are rendered superfluous and unnecessary. Socially this looks likes homelessness when a third of the workforce are unemployable. In a society without owner/employers exploiting this economic advantage, society would be equalizing prices with values and the car parts would not cost a consumer a $100 plus dollars but it would cost $10 dollars and so on all man made products would be exceedingly cheaper to buy for many people. The technology is key to a new society.

Right now if car parts are made in China the value of the car parts have no value that is American in origin. This movement between values and prices is international and sets the stage for a world crisis that socially looks like an extreme inequality between individuals and between nations. This is why the auto workers have gone on strike and the earnings of the car makers have gone up and why we have poor and rich nations and why credit money is used to substitute real wages and why wages have remained stagnant for 45 years.

MrDXRamirez
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I have a general question about co-ops. Even if co-ops are run democratically by all workers within the institution, shouldnt society in general also be a participant in that democratic institution? The interests of all privatized businesses, even if held by a large group, are diametrically opposed to consumers and society at large. Suppliers seek to privatize profits and socialize expenses. That structural reality is diametrically opposed to the interests of society in general. So isn’t your (Dr. Wolff’s) model of worker co-ops flawed in this regard? Shouldnt the means of production be controlled democratically by everyone, not just by the workers within the co-op? And this begs another question, even if society controlled the means of production, wouldnt the interests of workers be adverse to those they serve? To those for whom they produce goods and services? Or is the theoretical contention that we would all be motivated to work (more) selflessly because by doing so we would benefit from that work ethic when it came our turn to be the consumer? In other words, is it your (Dr. Wolff’s) contention that solidarity between workers and society is, or would be, reinforced by socialized, democratic ownership (like a Kibbutz)? Please and thanks in advance for answering my question.

flutieflambert
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11:28 I rarely disagree with Dr. Wolff, but in this case the State was NEVER something that was working for everybody. Just ask the slaves. #UBI

mizztotal
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