Bill Moyers interviews Richard Wolff

Richard Wolff's smart, blunt talk about the crisis of capitalism on his first Moyers & Company appearance was so compelling and provocative, we asked him to return. This time, the economics expert dives further into income inequality, analyzing the widening gap between a booming stock market and a population that increasingly lives in poverty. Wolff also takes questions sent in from around the world by our viewers.
Wolff taught economics for 35 years at the University of Massachusetts and is now visiting professor at The New School University in New York City. His books include Democracy at Work: A Cure for Capitalism and Capitalism Hits the Fan: The Global Economic Meltdown and What to Do About It.

[@irpacynot]

My heart aches every time I listen to Dr. Wolff, and I listen to him often. For a man to be so reasonable, so intelligent, and have so much conscience, and to go so utterly and effectively ignored by society, it hurts so badly inside.

[@sethhorras8519]

He is a Jesuit.. look up their role in history and core theology.

[@lynnebarnes3840]

He's getting a lot of attention these days.

[@jaimerodriguez8045]

This post was 8 years AGO? and it's still up?? And you forgot to add "a propaganda specialist". The dude obviously has a disdain for the successful American way of life with Capitalism in the forefront. He and all his supporters can move to a communist country. Obviously they don't like it here, maybe a taste of Venezuela would be more to their taste.

[@bojanstare8667]

@@jaimerodriguez8045 Are you affraid about loosing your extra profits?

[@oneofus6924]

as you could have guessed from the comments, there are a lot of foolish slaves to capitalism who scream Grifter anytime they see Prof Wolff. They all have a case of some sort of stockholm syndrome loving their slave masters and think any critique of capitalism is a crime against humanity. Just like the people who think the earth is 6023 years old, they have attached their personalities to being a slave.

[@kerrympay]

I miss his program SO Much !

[@araratghazarian2354]

What an affable person with awesome thougths and notions he is. Hopefully, the United States will have more and more caring experts on the ground.

[@sa-iw4dr]

More folks should see this. Thank you Bill and Richard. I'm voting Bernie Sanders. Intuitively I saw these problems coming on in a big way in the early 80's, large Corporations, kept buying up all the little businesses then turning them into Monopolies. Not to mention environmental issues, low wages, pollution, student debts, closing of public mental hospitals Nuclear Pollution Threats. Democracy at work is a big piece of the pie. Medical for all. A long list. Yes to Bernie Sanders.

[@trevorsanso32]

Richard Wolff is the fucking man.

[@justgivemethetruth]

I like "blunt" and I like Richard Wolff. I'd like to see more of him! He is doing a lot to break through the ice and silence of this chilling effect of how it is never OK to criticize capitalism ... and what we are talking about is not really capitalism per se, but the corruption of our government by the few who see it as their right to oppress and rip off the many.

[@PersianMarxist2]

Good point and idea! I personally would look foremost at the example set by the Mondragon company in Spain. "Mondragon" is a large corporation which for decades has successfully run on the Co-op model, using direct employee participation and management of enterprises. I've read that Mondragon is even helping teach other companies this model, which has greatly increased productivity, as well as creativity and cooperation in the workplace.

[@cshubs]

Once upon a time, the only students who could expect to graduate with a gigantic debt were medical and law students. The diff is that after those people finished, they had careers that paid well, so the debt could be paid in good time and without severe stress. Btw, Richard could be be Bernie Sanders's brother, yes?

[@Camcolito]

'Your response was as overwhelming as it was smart and informed' - That's what I always say after posting on KZbin.

[@user-mm5qw9mk5v]

I enjoyed this video so much a lot .

[@HopeIsFleeting]

Green New Deal - March 2013 - Richard Wolff

[@Yourismouter]

couldn't find the live chat on bill moyers website, is it no longer there I reckon?

[@rugggd]

Must Watch

[@cazal607]

It would be great to see Professor Joseph Stiglitz on the show. His latest book "The Price of Inequality" is phenomenal.

[@pandora0070]

Richard Wolff was interviewed on Democracy Now today 3/25/13 and will be interviewed again by Bill Moyers tomorrow.

[@xikano8573]

This is one brilliant man.

[@Waterflux]

The question over the natural limiting factors is perhaps one of the best question. Capitalism assumes that the size of the environment is much bigger than its productive capacity and expects it to stay that way. If this assumption crumbles, then capitalism must reckon with negative externalities on a large scale and thus cannot generate profits. Profits involve both extracting surplus labor value and being able to get away from dumping negative externalities to someone else.

[@kirstinstrand6292]

These are excellent ideas to reconfigure the US ECONOMY.

[@RexVestri]

Richard Wolff for president 2016 !!!

[@Tsnore]

The oligarchy and power elite would not like that.

[@SleekMinister]

Earning six times as much as the lowest paying employee is not enough?

[@luigimario4458]

Richard D. Woolf, please run for president in 2024!

[@JagzRevolutionary]

exactly

[@michelvandepol1485]

Can Richard Woff, Chris Hedges, Neil de Grasse Tyson, Dan rather start a new political party. I think the time now has come for intelligent and political leaders with integrity

[@wcropp1]

The government doesn't necessarily have to fund everything through taxation or private loans--it does have the ability to establish non-profits, a national credit union focused on cooperative enterprise being the obvious choice here.It boggles my mind why people don't, at the very least, demand more socially owned non-profits? It's the most obvious, ethical, and practical option we have.

[@curtrice6060]

9 years ago , and only 45 k , have been educated . We the people, are way behind the curve.

[@curtrice6060]

I have had Mr. Wolfe’s standards for 70 years. It made my vacation very bumpy.

[@ClaudyArfaras]

Masterminds in talks...the best! Professor Wolff with his innovative concepts and hopes for better are truly enlightening. I did notice RT which is Russian Television which is Vladimir Putin's propaganda into free societies of the world. I can't get Putin off my mind whenever he is producing and bringing Professor Wolff's message. Vladimir Putin does not have America's best interest in mind. Therefore, I would resist any offers or platforms Vladimir Putin might avail to any with differing points of view...

[@1828tolstoy]

I share your feeling about Putin but disagree with the rest.RT is the best news Ive seen.I would trust anything said about Russia but as far as the US. They are spot on.

[@garrethoien6666]

Wait so you get a job in a factory and Professor Wolfe says each employee should get a say in what the factory should produce??

[@michaelhiggins2562]

The biggest problem facing the country is certainly not capitalism --- its the disfunction of the legislative branch of government. Every action they take is to payoff those who vote for them.

[@torgrimhanssen5100]

To get the unions running i recommend getting on a low carb diet. Nobody I know, myself included went back to the high carb suggar rich lifestyle after experiencing the benefits. The most common statement and a statement I myself made withing a few weeks on the suggar ban lifestyle is as follows "I realised how sick I was, and i thought that was a state of beeing alive or growing older" This is an "enlightenment" you can't stumble uppon orunderstand unless you try the lifestyle for at least 4 weeks. And it works for all "weight classes" wether you are malnurished, prediabetic or have type 2 diabetes. Comming to the point on this lifestyles biggest benefits, if you cut suggar, grains and high omega-6 plant oils. You will have significantly more energy at work and after work. Personaly, I keep my energy from 6am to 11pm at an almoast constant high. Before I cut out carbs I usuall planted my face on my couch the secound i got home, dissabling me from engaging in my hobbies, mutch less engaging with my union. I almost ended up on dissability due to weight loss and several minor "ailments" But on this low carb lifestyle, I am on a steady path back to a full job, and all my "ailments" are all but gone. I have the energy to partisipate more in my community, establishing more social and work related contacts. -A recommendation from a reborn Norwegian.

[@TheIrafeedie]

Mr. Wolff, have you ever put in a proposal to President Obama or any other president in office of your ideas. It would be interesting to know what if any response has come about from the administration. It would be great getting your ideas to the President so that he can push these ideas down as well as a ground swell of the people to congress. These are the people that can start making these changes to solve our problems. Right now all they are concerned about are the lobbyists. Thank you.

[@potipiroon]

I agree with this professor 100%. However, none of his recommendations will work in practice considering the larger scheme of things. That's really unfortunate.

[@1828tolstoy]

Very few viewers sad.

[@SleekMinister]

keep spreading

[@666katch]

I respect Richard Wolff, but most people still don't care enough or they don't know what or how to do about it.

[@mattk1631]

It's somewhat shocking to me that Mr. Wolff uses the term "Green New Deal" around 2013. I really hope we come to some kind of green new deal very soon.

[@louisbarbisan8471]

The question is only one Bite what you can chew. You have debts, well you made that decision. Look, you have a job ok, good then when you work, can you think in doing it faster and better? That's the thing you should do, it's the things that make you better, by doing so you approach the company for better pay. C companies are looking for those people and not the one that only work 8 hours a day.

[@brianmassey6614]

Trying to understand things better. I'm trying to picture some of the employee owned enterprises as described, but I sill imagine them in a capitalist landscape. They might not do well in that situation and so that would not be fair comparison. I'd like to picture them in a totally socialistic system. The first thing I have to ask is would/should private properly and money even exist in a socialist system?

[@jeffbrown-hill7739]

Bro was talking about a Green New Deal at least 8 years ago.

[@1qcp]

Everybody, who listen to this today, Please please , .... The best answer is to elect Bernie Sanders for President and as many as possible of the progressive Democrats.

[@gdobie1west988]

Never happen, but Biden is doing his best to push progressive ideas.

[@derf2205]

@@gdobie1west988 biden is an atrocious geriatric who would be out of place managing a cafe let alone the US, he is far more right wing than any moral person

[@TheLejonell]

Oh I found the wrong Richard Wolff.

[@user-mm5qw9mk5v]

The less you circle the more view you point.

[@jc6226]

I generally agree with Dr. Wolff, but he is completely wrong about student debt and the ability of our 'democracy' to represent people justly or effectively. College educated students mobilizing to protest and speak out otherwise wouldnt get a single darn thing done in congress, for the same reason protest doesnt work for other movements. Pointing you to Dr. Lessig's ted talk "Democracy no longer represents the people," about how democracy is essentially governed by 0.02% of wealthy people and interests, is the shortest way I can back up that claim. In it, he cited a Princeton study that shows the more money that is spent by wealthy donors greatly increases the chance legislation they want gets passed. For the vast majority of voters, their concerns and social movements had a 'nearly zero, statistically insignificant chance' of having their concerns heard of being acted upon in state or federal congress.

[@jairolinares9869]

I do think that the problem of Capitalism is the chip of greediness in association with corruption among government and oligarchic class focused on the bank sector. They all together did develop the chips of consumption and feign to be setting it up on the whole population.

[@user-mm5qw9mk5v]

I can see video beyond English above listening. Below capitalism from democracy.

[@DaveWard-xc7vd]

Only 12% of U.S. adults scored in the highest literacy proficiency levels, and only 9% scored in the highest numeracy levels. There are 5 levels of literacy. 4% of Americans are below level one. 14% of Americans (45,780,000) Level 1 - very poor skills. Unable to follow instructions printed on a package. 34% of Americans (111,180,000) are at Level 2 - weak level of skills. People who can read, but test poorly. Difficult for them to face novel demands, such as learning new job skills. 36% of Americans (117,720,000) are at Level 3 - suitable minimum for coping with the demands of everyday life and work in a complex, advanced society. Successful secondary school completion and college entry. 12% of Americans (39,290,000) are at Level 4 and level 5 demonstrating command of higher-order information processing skills. People need to learn more to earn more. Its common knowledge in psychometric circles that reading comprehension tests are statistically equivalent to IQ tests, and a literacy study found that about 2/3 to 3/4 of adult welfare recipients (about 71%) have what’s classified as Level 1 or Level 2 literacy. By contrast, 1/2 of the general adult population are at these levels. Since by definition, 1/2 of Americans have IQs below 100, it can be deduced that 71% of welfare recipients have IQs below 100. In a normal distribution, the 71 percentile is 8 IQ points (0.53 sigma) above the mean, so if IQ 100 is the 71 percentile among welfare recipients, the average welfare recipient should have an IQ 8 points less. In other words, American welfare recipients average IQ is 90. IQ affects employability. 60 to 74 "Slow, simple, supervised." 74 to 89 food service 89 to 100 Walmart 100 to 111 Police officer 111 to 120 Teacher 120 to 125 Professor 125 to 132 Attorney 132 to 137 Eminent professor 137 to 200 No limitations.

[@se7ensnakes]

An entire 1/2 hour talking about symptoms and never ever does Richard Wolff talk about the cause. Never do I hear a single thing about endogenous money.

[@mattk1631]

The cause is capitalism.

[@se7ensnakes]

@@mattk1631 Thats too broad. You cannot take that to court and say I lost my house to capitalism

[@kirstinstrand6292]

If we don't know the reasons by now, people are brain dead!

[@kirstinstrand6292]

Court? Get REAL!

[@se7ensnakes]

@@kirstinstrand6292 do you know how they create money, these vulture bankers? Yes i am aware of the deep corruption in court. So I have studying a little bit on how to proceed with making you own court called a court of record.

[@Owl350]

Vote for the Socialist Party !

[@russianbot2179]

It's YOUR fault if you take thousands of dollars in student debt to get a degree in useless music, drama, or the dozens of other USELESS degrees. I have ZERO sympathy for those students. College needs to be severely changed.

[@MrJohnbatist]

HOW ABOUT ALL THE OTHER DISCIPLINES THEY'RE USELESS TOO?

[@matthewkopp2391]

Even though this is a very old post. I just wanted to point out at the very beginning of this program was a Guitar playing, by a musician. There were also multiple graphics created by a graphic artist. The set was lit by a lighting designer. The back drop was painted by a visual artist. The script was edited by a script manager. The composition of the video was directed by a film/video director. The video was edited by film/video editor. Bill moyers himself was more than likely coached if not in this specific video certainly in others by a vocal coach or director. All of the skills I mentioned and many more can be learned by getting a music degree, or a visual arts degree or a drama degree or a film degree. In fact, all the music you hear, whether it plays in a commercial, or tv show, or on the radio was composed by a composer and played by a musician. And all the films and Tv shows involve actors who went to school to study drama. The overall arts economy in 2021 represented 4.4 percent of the GDP, or just over $1.0 trillion. In other countries like Great Britain the arts economy is at 5.6 of their GDP. Now imagine a world with out skilled artists. Imagine no music in movies or on the radio, no trained actors in films, no trained film directors, no new paintings, no new design of products, no one knowing how to edit a film, or compose an image in a camera. Imagine a world of art amateurs that don’t know color theory, or how to carry a tune, or how to actually memorize lines and speak them dramatically. The USA would loose the 4.4 percentage of GDP pretty quickly.

[@RM-yw6xe]

Economic slavery