Economic Update with Richard D. Wolff31 Maalis

Criticizing Pro-Capitalist Ideology

This week on Economic Update, Professor Wolff discusses the flaws in the argument that profit is an appropriate, just return to the risk taken by a capitalist who invests. The critique focuses on (1) what it means that a capitalist can withhold means of production from production, and (2) how workers, their families, and communities also take risks in any productive enterprise yet get no profits, thereby invalidating the justification of profit as a reward for risk. In the second half, he shows that technical innovations such as AI do not cause unemployment; rather, the capitalist system does. An example is offered of how AI could be installed to advantage every enterprise's majority—its employees—rather than profit its employers (a minority in enterprises).

The d@w Team Economic Update with Richard D. Wolff is a DemocracyatWork.info Inc. production. We make it a point to provide the show free of ads and rely on viewer support to continue doing so. You can support our work by joining our Patreon community: https://www.patreon.com/democracyatwork Or you can go to our website: https://www.democracyatwork.info/donate Every donation counts and helps us provide a larger audience with the information they need to better understand the events around the world they can't get anywhere else. We want to thank our devoted community of supporters who help make this show and others we produce possible each week. We kindly ask you to also support the work we do by encouraging others to subscribe to our YouTube channel and website: www.democracyatwork.info

Tämä jakso on lisätty Podme-palveluun avoimen RSS-syötteen kautta eikä se ole Podmen omaa tuotantoa. Siksi jakso saattaa sisältää mainontaa.

Jaksot(575)

The Yellow Vests Mass Movement in France

This week on Economic Update, Professor delivers updates on the big union wins for 40,000 workers in the UC system, the ongoing strike of graduate student workers at Harvard, and basic statistics on t...

4 Heinä 32min

Center for Popular Economics: Goals and Achievements

On this week's episode of Economic Update, Professor delivers updates on why and how worker co-ops are a strategic direction for socialism, and Europe's deindustrialization. The second half features a...

8 Kesä 31min

Economic Update: The Economics of Unemployment Today

This week on Economic Update, Professor Wolff briefly discusses two current large strikes by workers fighting back: the British Columbia nurses in Canada and the commuter rail workers in New York (LIR...

27 Touko 31min

Economic Update: The Global "Birth Strike" Changes Everything

This week on Economic Update, Professor Wolff delivers updates on the tentative agreement reached by the unionized portion (85%) of the staff at the Los Angeles Unified School District (400,000 studen...

20 Touko 35min

Causes & Consequences of the Iran War

5 Touko 29min

Marx's Relevance for Today

In response to questions about Marx's relevance today, this program explains how Marx's criticism of capitalism was unique (more micro-focused than macro-focused analysis). It shows how Marx's critiqu...

28 Huhti 31min

Born Sick in the USA: Improving The Health of a Nation

On this week's episode of Economic Update, Professor Wolff provides updates on the 3 major teachers' unions struggling with the LA Unified School District, rising electricity costs in the U.S., and co...

21 Huhti 32min

Economic Implications of the U.S. War on Iran

This week on Economic Update, Professor Wolff discusses the 3800 Colorado meatpackers on strike before diving into a presentation on how the war on Iran and the closure of the Strait of Hormuz have di...

14 Huhti 31min