Ask Prof Wolff: The Case for Degrowth

A Patron of Economic Update asks: "I would love to hear you talk about degrowth. It's something I've been reading a little about for a few years. I probably (don't remember, exactly) first heard about it from Jason Hickel. "

This is Professor Richard Wolff's video response.

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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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Follow Wolff ONLINE:

[johngjesdahl]

Corporate Dairy Farming, as opposed to family farms of the 1960's, 1970's, has destroyed groundwater in many townships here in Wisconsin. 5000 cows on one spot on the land, 40 to 120 cows in one location otherwise. Medium and small communities economically hollowed out along with the poisoning of the well water.

[lindsaymartin]

Professor, give us your opinion on the Chinese experiment with the one child family expriment.
And is cloning a viable source of slave labour and spare parts apposing robotics.
Brave new world

[trillmixin]

earth could benefit from a radical restructuring towards sustainability as an economic model

[chuzzbot]

Agree with a lot here, unfortunately high intensity housing is done lazily and greedily, the end result dehumanises the residents when they see nothing but concrete walls.

[fredganoe]

Thank you, Professor Wolff, for your (unfortunately accurate) contrarian views. Our country needs a large dose of truth serum. A couple of my proposals follow:

• Firstly, reduce the Department of Defense budget to a level commensurate with its requirement to DEFEND this country. Further, SUBTRACT Defense and Security expenditures from GDP. We should not treat optional creation of such a dangerous world as a good thing.

BONUS: Environmental devastation caused by that 5-sided monstrocity in Alexandria, VA, and its tentacles around the world would be somewhat attenuated.

• Secondly, claw back the illegitimate excessive wealth of the plutocrats and oligarchs. Creating wealth is fundamentally different from accumulating wealth created by others or inheriting wealth from prior illegitimate owners.

Install a system -- perhaps along the lines of antitrust or wealth taxation -- to prevent such egregious accumulation in the future.

If they own it, they will use it for their own benefits. We must prevent psycho-sociopaths from kicking others from the ladders as they climb to the top.

• Finally, regarding (De-)Growth, I'm of the opinion that growth need not LOOK larger. Let's try internal growth -- expanding minds, hearts, spirits, ... Such functional discontinuity would be very difficult but may be our only hope for survival. Environmental/climate destruction and nuclear war are existential threats to life on the planet.

As an afterthought, benefits of degrowth might include a healthy reduction in obesity which would look smaller, not larger. 🙄🙄🙃🙃😀😀

[cleomenes]

What a disappointing video. Wolff makes growth out to be something which only occurs in a capitalist economy, implying that a sift away from capitalism (towards socialism then or communism?) would somehow allow for "de-growth." I suppose the USSR never grew their economy? I suppose China never grew their economy? Wolff is talking about various issues within the American capitalist system with respect to the profit motive, and I agree with him, but what does this have to do with growth? Automobilization has been a model for growth (a model the Chinese have also followed mind you) and it has grown the economy in real terms, does that mean we should have so many cars on the road? Not necessarily. We could shift to different forms of transportation but how is this de-growth? If it creates jobs to build highspeed rail, more bus terminals, busses, batteries, forms of green energy etc., that would still produce economic growth. I mean what does Wolff think about Adam Smith? I thought Wolff was an economist. Smith 101 (and Marx read and understood Smith deeply, read his early manuscripts) you can't have prosperity without growth meaning no growth and the poorest of your society lapse in the worst forms of abject poverty. This is the tension in Smith's work that is often overlooked, unequal systems can still produce better standards of living thanks to dynamic growth; countries that are stagnant, on the other hand, (may also be unequal, sure) are countries where the poorest live in extreme poverty. How do we de-grow and provide jobs for working people at the same time? The Soviette Union, btw, didn't exactly de-grow! What the hell is Wolff talking about!?

[GhostOnTheHalfShell]

Public transport works in the context of care free municipalities. Suburbia is demonstrably a ponzi scheme, enforced by zoning laws. Changing them is a necessary step to allow car independence to floridh

[alanhehe]

We're addicted, and just like an addict we will perform whatever mental gymnastics necessary to continue along the same path, destroying our environment just like an addict destroys their body..at least until we hit rock bottom, which is right around the corner. It's not gonna be pretty. Americans, who are so used to the disposable economy, will not adapt easily, if at all.

[geraldmeehan]

I can use mass transit after initial 25 mile hitchhike to trailhead

[vivalaleta]

You are speaking my language. Constant growth is impossible on a finite planet.

[murraymadness]

Products today are not made to last..Everything is disposable, use it for a while and then throw it away and get a new one. For example, all those cars...over 1 MILLION of them EVERY MONTH are disposed of. And the governments approach? We subsidize buying new cars, even will pay you to dispose of your old one.

[TankGump]

We've taken a paradise and turned it into a salvage operation.

[emilypotato]

This video is so clear and well expressed! I hope we can survive the unraveling of capitalism so we can build a better system. Power to the people!!

[andrewahern]

This was great Professor Wolff. It would be awesome if you interviewed someone like Jason Hickel or Julia Steinberger on Economic Update to give your audience a bit more depth on the philosophy and political program of degrowth.

[manuelmanolini]

WOULD COOPS RENOUNCE GROWTH? WHY WOULD THEY?

[crhu]

6:08 real estate corruption is the worst problem in developed nations. THE worst.

[larryholman]

If those in power wanted things to change, they would change. Those in power are infested in maintaining the status quo.

[stevecu]

I agree with this but if only the obstacles were just the 'real estate interests', the fact is the biggest obstacle to degrowth are the masses who will not give up their current way of life. Incidentally, while the masses at the imperialist centre would rather everyone die than give up their way of life, they expect everyone outside the imperialist centre to do precisely that, and moreover they peddle the idea that everyone should adopt their way of life. I.e. the way of life that is most destructive to this planet!

[patricksee]

Capitalism the environmental baddie Richard? Not so fast, how’s the environment in Communist China faring? I don’t recall the Soviets being tree huggers?

Your critique is misguided in that environmental impact is a feature of all societies, not just your chosen enviro vandals. Kindest regards

[GeoffV-kh]

No country on earth - capitalist or otherwise - practising degrowth, or even claiming to be doing so. The talk is all about green Growth - a very different thing. Surprised Prof W doesn't seem to grasp this.