Why capitalism creates monopolies | Richard Wolff and Lex Fridman

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GUEST BIO:
Richard Wolff is a Marxist philosopher and economist.

PODCAST INFO:

SOCIAL:

[GarretEckman]

Lex has WAYYYY to much optimism for corporate culture

[tegusentertainment]

"Tesla is a bad example ", it's probably the best modern example of what's broken.

[Antonocon]

Lex is insanely naive in relation to corporate management. Yes there are some who reach high up that are pretty good people. Some of those reach the top. But a tremendous amount of middle management and the vast majority of higher management have a severe lack of humanity. Unbelievable lack of it. So much so that I believe if you have a strong soul and if you don't like to lie and exploit people it's simply not possible to do that job. And I worked in tech. In one company that was considered one of the top. And everyone apparently used to dream of working there. They just had a very high budget for brand awareness. Most of the people at the top except for the naive founders and early employees were known as sharks. The stuff regular middle management said about exploiting workers was chilling. I have since left that terrible industry.

[bradleyjohnson]

It has been my experience that those at the very top in the corporate environment have an unbelievable ability to genuinely forget when they are responsible for any failures and have an incredible ability to believe that they did things they didn’t actually do when those things turn out great. It’s been weirdly consistent as I have observed top management at multiple companies over the years. In many cases it doesn’t even seem intentional, but rather, it’s almost like a gift they have. That’s perhaps the most disturbing and weirdest thing about it.

[SomethingLocal]

Lex is amazing, but also very naive sometimes and I think his optimism clouds his view on human nature and the capitalistic system.

[Zhagg]

Lol
Lex:
"But, the hearts of the CEOs and shareholders care more about people than profits. What about that calculation..?"
🤡

[someone]

Great conversation that displays the naiveté of Lex

[nonnoyobisnis]

"The decency of human beings ..." in capitalism 🤣

Capitalism today follows one law and one law only:
"The only social responsibility of a company is its social responsibility to its shareholders."

[shangrilaeldorado]

I applaud Lex for having Wolff on...Lex, I hope you can do something in regards to Assange

[Happyduderawr]

Dam it's crazy how much Richard Wolff says that he is in favor of economic democracy and yet still people ( in these comments) come away thinking that he is in favor of the centralized government. That's how strong the ideology is.

[shadowwarsshadypeople]

Mr. Wolff shines a light on the exact reason why most, if not all, of the corporate world is run by psychopaths.

[gazlives]

Companies like GM don’t make huge profits from monopoly, they are an example of politicians interfering with capitalism. GM should be out of business and capital more productively used elsewhere but govt bailed them out. And that’s a lot of the issue, like the banks in 2008, it was the politicians that allowed banks to take all the profits and socialise the risks to us.

[MrSalamouras]

also to me is obvious that lex your social circles are not allowing you to see that for the majority of the poor people with 0 higher education winning the lottery is more possible than being successful entrepreneurs . I dont blame you ... everyone haves biases

[dadedraak]

He's 80-years-old, but look at the intelligence and vitality in his eyes, beautiful! Great talk!

[smartjackasswisdom]

It was about time you allowed someone to tell you what you need to hear about your friend Elon.

[megamond]

Capitalism often rewards toxic employees - "The Sociopath in the Corner Office".

[christiananderson]

Lex autonomous vehicles isn't the same as mass transit and you damn well know that. That's a large cope at best. Elon has notoriously fought mass transit by peddling that shitshow of a company

[carefulcarpenter]

A healthy capitalism is appealing. A malignant capitalism is destroying the host.

[MarcusSchuff]

Lex, please have Tom Woods on your show to give you the other point of view. Ask Dave Smith about Tom Woods.

[gadgetman]

Lex got owned a little bit there. great conversation