Economic Update: Libertarianism Capitalism & Socialism

[S9 E47] Libertarianism, Capitalism & Socialism

This episode of Economic Update features an exploration by Professor Wolff of how Libertarians defend capitalism by saying its many current flaws/faults flow from the state's economic interventions, not from the system itself. He then explains why Libertarians oppose socialism as another, even more, state-dominated intervention into the capitalistic system. Prof. Wolff then offers a critique of Libertarianism based on Capitalism's long history of strong state interventions and socialism's long-standing anarchistic components. He goes on to wrap it all up by inviting Libertarians and Socialists to find potential points of agreement against capitalism.

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Prof. Wolff's latest book "Understanding Socialism"

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[Gigika]

Capitalism: Not red vs blue, money over you.

[ronwisegamgee]

One of the more poignant statements I've heard from the third Zeitgeist film is that whenever people make an argument for freedom (in the defense of capitalism), what it really comes down to is the freedom for them to restrict the freedom of others.

[_-martin-_]

I love how concise Professor Wolff is. I also love how he sometimes turns Yoda on his sentences :)

[Shuttlesworth]

Getting his knowledge and skills for free seems unreaL lol. Love Wolff

[elsiegel]

Capitalist utopia isn't just a fantasy, it's an oxymoron.

[GarrettFruge]

Right-Libertarianism: when Mutualism goes really, really wrong.

[bumblebee]

There are no "warlords" in Somalia, only entrepreneurs. Libertarian capitalism rules!

[hansfiene]

DIRECT DEMOCRACY
DEMOCRACY PARTY
THE PEOPLE DECIDE
AND NOT THE 1 %
THE LIARS THIEVES
CHEETERS
SHARE IT. SHARE IT
LET'S MAKE THIS WORLD A BETTER PLACE YES WE CAN

[Edgingwithaliens]

My brother is a libertarian and I am a Democratic socialist, thank you so muchfor setting a common ground for the two where you can see eye-to-eye. I never saw it from that perspective and it makes total sense.Thank you mr. Wolf!

[dathguy]

Another amazing video by democracy at work.

[Ray_More]

Great lecture. As a person sympathetic to the ideas of libertarian Socialism this kind of invitational rhetoric directed at libertarians is desperately needed. I think socialist can win over libertarians with worker cooperative ideas. Wolff's rhetoric around work place democracy as akin to limiting the state in the workplace is great.

American libertarians have this notion of limited government where in so far as we consent to central authority it ought be to protect private property / exercise a monopoly on the use of force and protect US boarders militarily.

As a Libertarian Socialist I might offer a similar construction in so far as we consent to centralized government it ought be to: promote robust worker cooperatives + workplace democracy/ coordinate a people's military such that the exercise of monopolistic force is a transparent as possible. And ensure a robust social safety net for housing education food and healthcare.

Neither of these constructions could be be understood as anarchy but both seek to constrain abuses of authority.

[B]

"Like" . . . to infinity and beyond. <3

[Stinky]

YouTube stopped putting this show in my feed for about a month or two. I had to come here manually.

[Broham.tar]

The “Free Market” IS the State y’all. In the words of Senator Nina Turner, “ C’mon somebody!”

[staatsfeindlich]

I wasn't prepared for the conclusion. Provocative. Somehow I think that could be the way forward.

[MegaAlien]

god damn I love listening to Dr. Wolff. I wish more would be exposed to him

[mablebeel]

"strong government has been part of capitalism throughout its history... We are often angry at the things we are most in need of..."

[scobiesview]

Richard you are talking to very few that understand anything /care about the politics of their world. I do and I thank you for your analysis. Mark

[dediguise]

A pleasure to see you take on this topic.

[JaBokianism]

Aye that intro instrumental be heavy hitting hardddd