Economic Update: Understanding Communism Pt. 1

[EU S14 E36] Understanding Communism Pt. 1
On this week’s episode of Economic Update, Professor Richard Wolff offers a special episode discussing the unscary origins of the ideas of communism and socialism before the Cold War demonized them. We will discuss how socialism's history evolved into separating socialism from communism and creating multiple, different meanings of what is considered communism today.
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[@Simia-e8v]

Love the way Dr. Wolff explains all this so clearly

[@el-Cu9432]

I like his dynamic style of explaining comparing and contrasting the two economies. Here in the US both are seen as being interchangeable which as Wolff points out is a false belief

[@jgalt308]

@@el-Cu9432 which two economies would those be? This isn't a "capitalist" economy...so?

[@mithrandir2006]

If only college was like this, hehe.

[@123natemans]

It's incorrect to call Communism Utopian. Engels wrote an entire book on this. It will still come with it's own issues that will need to be worked through, but it will have the common interest of the people driving it.

[@foshcat1885]

Compared to what we have now, it kinda is a utopia

[@pecan11]

U didn’t call it utopian He said ‘a kind of..’

[@nthperson]

Another term that better describes the ideals sought by those who embraced communism is "communitarianism." What is the distinction? The major distinction is the absence of permanent hierarchy among the population in a communitarian society.

[@123natemans]

@@pecan11 Regardless it misleads people on what communism is and also gives the opposition fuel which is often used by anti-communists to write it off as a fantasy.

[@cheungchingtong]

China currently runs under socialism, which most people outside it don't know about, the reason that China jumped from communism to socialism in the late 70s is because they found out without prerequisites, such as wealthy and industrialized society, it is impossible to reach true communism, so they did what they called experimental socialism with Chinese characters, which absorbs some key elements from both communism and capitalism, with Chinese traditional ways of governance. And so far they are doing pretty good at it.

[@tuakanaholmes2710]

Thank you for all your hard work in trying to enlighten the world on the truth of a system that can benefit the 99%

[@lucianfiul3035]

'Enough for everyones need but not enough for everyones greed.' 😮

[@ace9840]

So where has that worked?

[@Plarndude]

@@ace9840in many indigenous communities throughout human history. A member of a tribe contributes what they can, and no one is forced to starve because they can’t contribute as much any more.

[@juniorgod321]

Who decides what's a "need"? Do you really need the device you're using to browse the web?

[@ace9840]

@@Plarndude And many tribes throughout history have attacked other tribes and still do.

[@peaceleader7315]

With artificial intelligence, repetitive machines, and robotic technologies, improving the means of production, the government will be forced to implement socialism_communism economic system as gradual processes as innovations absorb the responsibility for means of production.

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Congratulations!! The scriptures clearly states there's going a transference of the riches of the heathen to the righteous. God keep blessings you

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[@YehMichell]

Thanks to my co-worker who suggested Ms Susan jane Christy

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She's a licensed broker here in the states🇺🇸 finance advisor.

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[@Kevinbrian1]

The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.

[@Joegolberg1]

Financial consultants can help by recommending investments that outpace inflation, such as real estate or certain stocks. A client of mine followed this strategy and saw their savings grow by 15_% in just two years, effectively countering inflation.

[@Benjaminarmstrong684]

That makes sense. Unlike us, you seem to have the market figured out. Who is your fiduciary?

[@Joegolberg1]

Zachery M Demers is the licensed FA I work with, I can't speak much about him you should make a search with his name, you'd find the necessary details to schedule an appointment.

[@Simboiss]

Increasing the interest rate has no advantages. It only makes everyone poorer instantly, and increases inflation.

[@patriciacvener1968]

I always enjoy Professor Wolff speak. Thank you!

[@niurkatrudeau7805]

Great explanation,very clear for all the ones that want to understand the real meaning of the word and not what some others try to make you believe, thanks 🙏.

[@anishbanerjee5761]

Thank you Professor.

[@JoseLopez-ys2oz]

The road from capitalism to communism requires the removal of the small group of people who today make all the decisions, and installing in their place the people who themselves are involved in producing the profits. Today, while 9 of the 10 richest men in the world are United States (US) citizens, 38 million Americans live in poverty, and 60% live from paycheck to paycheck. Only 33% of Americans are satisfied with our Democratic or Republican governments, so why don’t we try a third political party candidate who promises to end US imperialism? The US has consistently refused to comply with 42 United Nations’ resolutions demanding that it immediately return Puerto Rico’s sovereignty to the Puerto Ricans. The world, instead of believing the US’ claim that it is “the champion of democracy”, considers the US as the biggest threat to peace. The People’s Republic of China has a win-win relationship with other nations, which means that she is not an imperial power. That has permitted China to have already eradicated poverty, despite having 4 times the US’ population. Unlike the US, China would never sponsor the genocide of the indigenous people of Palestine, or any other people! We need to learn about capitalism and communism in order to organize ourselves to engage in permanent resistance to save ourselves and our planet. Moving from imperialism to democracy is up to us. We don’t have much time!

[@websitemartian]

china was dirt poor until they embraced capitalism ...

[@Marius_vanderLubbe]

Excellent. Looking forward to part two.

[@LilBnnuy]

So as we get to fewer and fewer people having most of the world's wealth, when do we finally all say together, we've had enough of this mess? And move on from these greedy fools.

[@SpunkyMcGoo69]

When bread (food as a whole) becomes unaffordable for the bottom 50% or so in advanced countries like the USA. Not the corporate greedflation of today, I mean literally unaffordable. Besides that, best bet is we claw our way out of capitalism for the next hundred years or so

[@authenticallysuperficial9874]

Ah yes, no greed detected in the thief.

[@LilBnnuy]

@@authenticallysuperficial9874 yeah most of us would rather not starve on the streets.

[@SpunkyMcGoo69]

@@authenticallysuperficial9874 it's only greed to the party being stolen from, that's the whole point.

[@SpunkyMcGoo69]

Economic update is one of my weekly highlights, thank you as always professor

[@RossSpencer176]

I often wonder how successful investors are able to make millions of $$ from trading stocks. Im completely new on this area of investing. Long story short I have a couple thousands saved up which i want to invest for long term and I know this sounds a bit dull but, I would like to know what advice you could give to start my investing journey

[@Dubin144]

proper research, good analysis and luck is what you need to make profit in this constant market decline.

[@PaxtonthePerfect]

It is essential for you to have a mentor to keep you accountable 1. Limit your spending/cut off retail therapy 2.Put the extra cash towards investing in high yielding or steady investment.

[@Fleming115]

it's all about finding the right moment to take advantage of and generate colossal profit, which is why you need to do your research

[@MaxwellPrince509]

Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again.

[@HannahLydia134]

My partner’s been considering going the same route, could you share more info please on the advisor that guides you?

[@iamericandavinci]

The Blues had Howlin' Wolf. But economics has Professor Wolff. Both pinnacles in their realms.

[@LairofDarkness]

I wish I had this man as my economics teacher when I was in high school. He explains things so easily

[@andomgebru1170]

When educated people speak the truth the future of the world is bright thanks

[@angelicafrancisco3943]

Outstanding critique once again . Professor Wolff is a master at his craft . Bringing these ideas more clearly into focus for all to understand . I so appreciate the melding of history blending into the present time . This is fascinating stuff having tremendous potential if we can only embrace CHANGE !

[@peterbelanger4094]

But he's a professor, that is not an admirable thing. Just an academic clown. THINKS he has it figured out, all professors do. Always take their words with a grain of salt.

[@authenticallysuperficial9874]

Critique? This is an utterly uncritical glimpse at communism in which Wolff supposes that scarcity will disappear.

[@fernandgutez2383]

@@peterbelanger4094- is it the voice of experience or that of prejudice?

[@ramie237]

Merci Professeur Wolff.

[@katariina.s]

Such a clear, interesting and passionate explanation as always!

[@hussamkhaldon770]

Amazing dr wolf thank you

[@munch9778]

Professor Wolff the goat

[@dalton876]

Awesome video! I was blown away by the recent economic data! There seems to be uncertainty over inflation and the U.S. stock market is at a crucial crossroads. Despite growing concerns among investors, the economy shows signs of resilience which could help Bitcoin remain stable. Interestingly, the crypto market, which is usually correlated with the U.S. stock market, has been moving in the opposite direction. BTC and the Nasdaq are currently bouncing back. However, with the sentiment changing fast now is the perfect time to get into the crypto market..... I have managed to grow a nest egg of around 100k to a decent 732k in the space of a few months... I'm especially grateful to Linda Wilburn, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.

[@dalton876]

She's often interacts on Telegrams, using the user-name.

[@dalton876]

@Lindawilburn

[@9KateMoran]

When it comes to investing, we want our money to grow with the highest rates of return, and the lowest risk possible. While there are no shortcuts to getting rich, but there are smart ways to go about it.

[@Kathleendinges]

The key to financial stability is having the right investment suggestions for a diverse portfolio. Many investment failures and losses happen when you invest without proper guidance.

[@Flo86443]

Trading with an expert is the best strategy for beginners and busy investor s who have little or no time to monitor their trades.

[@gabriel82030]

I can't thank you enough for clarifying what communism, socialism and capitalism are all about - PRW. The gloomy world is saved thanks to people like you.

[@kellyhowe5986]

Awesome

[@ankersman]

Well said. Best half hour explanation of socialism and communism I ever heard.

[@EdwardMDL]

Thank you!

[@REspo-qs5us]

Welp! As a Christian I always thought Socialism was God's message. After seeing Professor Wolff's factual definition of what Communism is, it makes perfect sense God is Communist. Epic.

[@samaval9920]

Many religions have pro poor people tendencies.

[@whatabouttheearth]

Communism is the goal, Socialism is the path.

[@whatabouttheearth]

Communism is the goal, Socialism is the path.

[@REspo-qs5us]

@@whatabouttheearth F*cking A right!

[@victorialeif9266]

I’m grateful to now, have the language to describe and understand the three modern systems of government. It’s an essential tool for fighting misinformation. Thank you.

[@peterbelanger4094]

Just the fact you use that word shows how brainwashed you are.

[@whatabouttheearth]

Well, Communism isn't a system of government, Socialism is the word for that. Communism is a classless and stateless society and mode of production. Socialism is the path, Communism is the goal.

[@whatabouttheearth]

Well, Communism isn't a system of government, Socialism is the word for that. Communism is a classless and stateless society and mode of production. Socialism is the path, Communism is the goal.

[@advandepol7537]

Thank you so much Prof.Wolff, for your always clarifying communication.

[@tomoliop]

It is useful to have these terms clearly delineated, thank you!

[@Jerohnable]

Absolutely spectacular lection. Professor Wolff is easily my favourite lecturer in english language. So precise and measured explanations, just fantastic.

[@lidiyasimatovic1118]

To transform the workplace to the commune of the people who worked there - yes, that was in ex-Yugoslavia. That works great, but west "civilization" come to conclusion that we haven't "democracy" so they destroyed our country.

[@kaceykelly7222]

Fascinating! I am very moved by the last Lenin quote; it feels so much like looking in a distant mirror 😮.

[@reversefulfillment9189]

Workers of the world unite 🌎

[@authenticallysuperficial9874]

Unite to commit crimes as a band of plunderers? Or unite to voluntarily work together and create something awesome?

[@matthewingerson]

Yup. Down with the corrupt wealthy-class & their corrupt RW-politics, and with the working-class dupes who support the corrupt wealthy-class & their corrupt RW-politics.

[@MLCommy]

Thank you so much for this lecture, Prof Wolff.

[@chuck-wv9nh]

In the early 1980s, China undertook a massive reform that dismantled its socialist rural collectives and divided the land among millions of small peasant families. Known as the decollectivization campaign, it is one of the most significant reforms in China’s transition to a market economy.

[@hergandbiskell1546]

D'oh!

[@chuck-wv9nh]

@@hergandbiskell1546 Well, the response I got asking for an example of communism working was China.... which is bullcrap, because their emergence as an economic giant is because of capitalism...NOT communism. The decrease in poverty, and growth of their middle class is ENTIRELY due to their lurch towards a market economy, and away from commie bullshviet!!!

[@lillianmckelvey6893]

In the 70's when I was working for Chrysler--tried to push the Union to have workers participate in ownership, they didn't want it!!!

[@DerekSpeareDSD]

"Communism is the doctrine of the conditions of the liberation of the proletariat..." -Fred Engels. See his "Principles of Communism".

[@falsificationism]

Such a clear, cogent explanation. Share this with every libertarian talking point machine you know!

[@samaval9920]

There we lbertarian right vs. libertarian left. See Wikipedia article (still?) on “Libertarian Socialism” @. Communism” “. Anarchism”

[@falsificationism]

@@samaval9920 huh?

[@kp6215]

How you organize the new system that Lenin was trying to create.

[@MYTAccount]

*Great topic and explanation.*

[@mauriziomoretti5392]

In Italy the basic territorial entity is called “comune”. “Comune di Milano” (Milan), “Comune di Roma” (Rome), “Comune di Genova” (where I live), “Comune di Venezia” (Venice), etc.

[@thomaswalters4365]

Same thing in France.

[@user-zy3nv1jy1m]

''Groups destroy the beauty of the individual'' ~ George Carlin

[@mahiousgazi]

Thank you Mr. Professor.

[@menudobucket9837]

In some religions, breaking bread is known as taking ‘communion’. In the early Christian church, it was done ‘communally’ every day. Since then, it has been perverted and turned into a ritual for the self righteous to make themselves look and feel pious, while addressing the needs of the hungry and homeless with overcrowded shelters and soup kitchens; but if you closely scrutinize the example of Jesus the Christ, you’ll find that He always waited until everyone else was fed before He Himself would eat. Today’s world is filled with people who have eyes to see but are unable to perceive. They’re blind hypocrites that justify their greedy and selfish ways while they pay others to kill the defenseless and claim that they’re doing them a favor because they needed to die. How long can this go on before justice has her day?

[@javiervasquez29]

Jesus is not a communist and hates communism as shown on the Bible by give a man a fish and feed him for a day or teach a man how to fish and feed him for a lifetime.

[@jakobus977]

Thanks king

[@gregwang8628]

Root word is community , strong community is what people need, ain’t it?

[@peterbelanger4094]

LOL, what's that? "community" is a myth. Nobody cares.

[@authenticallysuperficial9874]

Community and society is voluntary. Communism is violent coercion, and therefore directly opposed to community.

[@ВольтерАбаносов]

@@authenticallysuperficial9874, Who told you it was forced coercion?

[@graceli6886]

@@authenticallysuperficial9874​​⁠​⁠violence by who against whom? Non directly violent coercion backed by military, economical, political, religion and media forces from who to whom? It’s weird that you believe you can form a big ‘community’ without confronting the military force of the current rulers of the land (territory of a country not exactly the same as your community) your ‘community’ live on. And it’s delusional to think that a small ‘community’ can thrive when it depends on the utilities including transportation, resources and market provided by the country it’s in, and it pays tax to this country. Either it’s poor and nobody cares, or it’ll face greedy outsiders requesting more tax/bribe or worrying outsiders wanting it to be poor (sanction etc. by any reason as a facade) and defamed. If the world is free to create ‘community’ as you like, it must be an anarchy. And anarchy means more violence to all.

[@abdullahrahmani2556]

Never fail to learn something from you sir. Thank you

[@SuhovarovDmitry]

Thank you, professor. I never thought about that.

[@ZhenYae]

Break Bread and Pass the Wine around.... and before that it was.. Break the Jian Bing and Pass the Bai Jiu. 😊😊

[@TheXpawn]

Great as always. I'm learning a lot from you. Thank you very much.

[@prschuster]

Every generation has to keep pushing little by little.

[@nuthinasitseems5213]

In my book you will always be remembered as the first substantial Green Party elected official

[@GuyHappy-j7m]

Very informative Indeed👍👍

[@mattjones-molyneux7615]

Big up Charlie every time

[@raymondyang4342]

India has strong communist party . as well in Nepal. And most whole world still has communist party.

[@cautiouscommenter]

I wonder what Dr. Wolff thinks about the way things are organized in Vietnam. From what I've learned, the gov't has provided a lot of support towards the formation of various types of cooperatives. In my view, this is being done as a way to foster community level development and delivery of products and services - effectively turning communities into industries.

[@spanky7277]

The next thing we all need to discuss is a republic . Republics don't end up well in the end ..

[@peterbelanger4094]

Oh, yeah, like the mob mentality of pure democracy is a Sunday picnic? LOL

[@marielong8969]

thank you!

[@ThePallalex]

What a great educator. It made me realise that capitalism IS communism, democracy IS communism in micro economic terms. They are all communes with specific purposes; micro communism.

[@authenticallysuperficial9874]

Not as foolish a reaction as one might suppose.

[@whatabouttheearth]

WTF? Capitalism is a hierarchical class based mode of production and mode of social relations. Communism is a classless and stateless society and mode of production.

[@whatabouttheearth]

WTF? Capitalism is a hierarchical class based mode of production and mode of social relations. Communism is a classless and stateless society and mode of production.

[@ВольтерАбаносов]

I'd say you didn't understand anything!

[@nawafdreams]

Certainly! Understanding the nuanced differences between Communism and Socialism as articulated by a theorist like Karl Marx or Friedrich Engels can require a detailed examination. To provide clarity on this topic, let's delve into Richard D. Wolff's perspective, who is a well-known Marxist economist and thinker. ### 📖 Richard D. Wolff on Differences Between Communism and Socialism Wolff, who has extensively critiqued and analyzed Marxist theory in contemporary contexts, often distinguishes between Communism and Socialism by focusing on their goals, methodologies, and implementations. #### 🔍 Conceptual Core: Communism vs. Socialism **Communism** aims for a classless, stateless society where the means of production are communally owned. It is often seen as the end goal of a socialist trajectory. Wolff emphasizes this progressive vision: > "Communism represents the evolution toward a society where class distinctions are abolished, and state functions wither away as communal self-governance takes hold." **Socialism**, in contrast, is often considered an intermediary phase focused on reducing inequalities within the capitalist system and moving towards communal ownership and control of the means of production, albeit potentially retaining some structures of statehood and hierarchy. > "Socialism entails the socialization of the means of production, with emphasis on reducing wealth disparities while still operating within certain frameworks of state intervention and regulation." #### 📜 Historical and Practical Distinctions Wolff discusses how these theoretical concepts have been historically applied and misapplied. He makes a clear distinction between the aspirations of these ideologies and the realities they encountered upon implementation. On **Communism**: > "Historically, the attempts at Communism, notably in the Soviet Union and Maoist China, diverged significantly from their theoretical underpinnings. The state did not 'wither away,' but rather entrenched its power, leading to bureaucratic centralization instead of true communal ownership." On **Socialism**: > "Socialist policies-seen in places like Scandinavian countries-focus more on social welfare, equitable wealth distribution, and public ownership of key industries, without completely dismantling capitalist structures. These are often mixed economies with socialistic elements aiming to temper the inequalities inherent in pure capitalism." #### ⚙ Mechanisms and Strategies Another critical area where Wolff draws distinctions is in the strategies and mechanisms employed by both ideologies to achieve their goals. **Communism**: > "Communist strategy often advocates for revolutionary changes - the overthrow of capitalist systems through proletarian revolt. It envisions a radical restructuring where state apparatus initially controls the transition towards a stateless, classless society." **Socialism**: > "Socialist strategy, however, can be both revolutionary and reformist. It includes democratic means of achieving power: electoral politics, policy reforms, and gradual socialization of the economy to redistribute wealth and power more evenly." #### 🌐 Contemporary Relevance In contemporary discourse, Wolff sees both ideologies as evolving to adapt to new economic and social realities. He argues that understanding their core differences helps in crafting policies that can mitigate the adverse effects of global capitalism. > "Today's movements are neither fully communist nor purely socialist in the traditional sense. They borrow aspects from both to address economic inequities and foster social justice in a globalized world." ### 💡 Conclusion By delineating these conceptual nuances and applying historical lenses, Wolff provides a comprehensive understanding of how Communism and Socialism diverge in theory and practice. His insights emphasize that while both seek to address the injustices of capitalism, their methodologies, aspirations, and implementations manifest significantly different paths toward socio-economic equality.

[@yozhleszy]

фигасе компендиум

[@215Gallagher]

Yes, I'll continue to call myself a communist. Thank you.

[@AG-el6vt]

I see a huge problem with mocking American right wingers for claiming 'socialism is when the government does stuff', but then turning around and claiming that the mirror image of it, 'capitalism is when the government does stuff'. Two wrongs do not make a right. Prof. Woff is taking a stance not supported by, Marx, Engels or Lenin (despite his claims), in that centralized socialist production is still largely capitalist, when there is no significant private ownership of the means of production to speak of, but social ownership instead. Orthodox Marxists call this type of position 'revisionism', and is also one of the main Anarchist criticisms of 20th century Socialist states. Also, Wolff is strongly supportive of workers' cooperatives as a way to introduce socialist production within a capitalist society. He does not talk much about it, unless I'm wrong, but the Yugoslavian socialists, led by Tito, based their 'market socialism' economy on workers' co-operatives. See how that built-in competition ended for them and their system.

[@kwakkers68]

''See how that built-in competition ended for them and their system.'' It ended with a grotesque machination from the West, Corporate Power, hard power attack in illegal war. A nation now in significant debt to the usual suspects. See Michael Parenti's work on this topic.

[@ExPwner]

@@kwakkers68Parenti is a hack taken seriously by absolutely no one in the academic world.

[@chaosinfusion8127]

I’m not all the way through the video yet, but I find it hard to believe that Professor Wolff defined “capitalism” as “when the government does stuff”. Government as a concept is orthogonal to the economic system. The issue with capitalism is that wealth-hoarders use their wealth to _buy and control_ what government does in order to ensure that government policies benefit their bottom line. It is undemocratic because the majority of people (esp. workers) are not represented.

[@chaosinfusion8127]

BTW, I agree that right-wingers should not be mocked for holding heavily propagandized views on “socialism”. The challenge is to educate and persuade-that’s what free speech is for. Working class “right-wingers” are our allies in the class struggle and we should treat them as such.

[@AG-el6vt]

@@chaosinfusion8127 Well, he doesn't state it literally in the video, but that's what his take on the Soviet Union's economic system amounts to. He claims its system, even after the end of the NEP, was 'state capitalism', which is what I am challenging.

[@kennethhymes9734]

A lot of this is overlapping with David Graeber. It is inaccurate and unhelpful to efforts at liberation to describe small groups and altruistic collective decision making behavior as equivalent with or even analogous to communism on a national or global scale. On the one hand it is like a politician saying the federal budget is pike the household budget: it is not, because scale matters a lot. On another front it confuses people about the problem, which is not a lack of altruistic values and cooperation among vulnerable people... we do it the most, every study shows this. The problem is upper class power, upper class violence, and upper class controlled police snd military. Appeals to values will never solve this. Only organized force and action will. Nothing else. Old white guys will never advocate for these things. Trust me on this.

[@whatabouttheearth]

😂 I mean, Communism is a classless and stateless society and mode of production. Socialism is the path, Communism is the goal. So Wolff is WAY off with saying "communes" and "community" are the same as the ideal "Communism" which has never existed outside of the primitive mode.

[@whatabouttheearth]

😂 I mean, Communism is a classless and stateless society and mode of production. Socialism is the path, Communism is the goal. So Wolff is WAY off with saying "communes" and "community" are the same as the ideal "Communism" which has never existed outside of the primitive mode.

[@SiriasNules]

Very clear explanations thanks a lot really

[@StateOfPurgatory]

Excellant explanation

[@samdegoeij6576]

Where the Russians failed indeed was the structures of the workplace but, the Yugoslavs under Tito dis experiment with that which has lessons modern socialists too. As a member of DiEM25, an activist and organizer myself, wrestling with these ideas is as exciting as frustrating. The biggest obstacle is alienation, the fact that people can't imagine themselves having agency, don't have the mental and/or physical capacity after a working day and all the misery it involves to actually actively combat the system they're stuck in. Because, they have been told it's impossible, because, the promised change isn't clear and thet struggle imagining things beyond capitalism, which scares them. The old people are logically more scared than the young people but, even the young can be tough nutts to crack.

[@bharatichaudhari]

Excellent explanation

[@rickhassan3947]

Thank you 🙏

[@jaypayso7039]

What’s stopping free individuals from starting their own “communes”?

[@samneibauer4241]

Funds, laws, logistics and having enough people

[@fouskas4]

Ευχαριστούμε!

[@tarmotyyri6733]

🇫🇮❤to learn from prof. Wolff.

[@brucemarvonek4856]

Adam Smith and David Ricardo had arrived at the labor theory of value prior to Marx. What Marx did was to extend it to the theory of surplus value. Read Capital!

[@authenticallysuperficial9874]

Sure, but both they and marx were wrong.

[@MegaKerrigan]

The textbook dictionary definition of Communism is a moneyless, stateless & classless society. Karl Marx says there’s a higher & lower stages of Communism, lower stage being Socialism aka The Dictatorship (I must admit Karl Marx chose a poor use of words, it would of been better to use dominance) of The Proletariat where there’s not so much a one-man or one-party dictatorship as there is a dictatorship/dominance of one class over another (that being the Proletariat over the Bourgeois) as opposed to the Dictatorship of The Bourgeois & the higher stage of Communism simply being “Communism”.

[@yozhleszy]

for Marx, the state and the dictatorship are synonymous. and dictatorships vary from procedural to terrorist.

[@peterkerruish8136]

M8 my life in Australia has been good + I've got no complaints,but if you had of been my teacher back in the day I Know that my life would have been So Different.Your students should be so grateful.

[@kwakkers68]

So predictably, the Bots are out in force, on this page!

[@cev12]

Good explainer.

[@BB-cf9gx]

The Union of Soviet Socialist Republics. (Communist). I'm waiting for the good professor to convince us that Marx wasn't a communist.

[@pagan-540]

As an idea communism is meant for good of all citizens. Problems crop up when this is implemented on ground. For example who decides allocation of resources which is in a market economy, is done by market. This is the most important cause of failure of planned economy in a communist country.

[@peterpetino9590]

Would like you to talk about when money was backed by gold.???

[@samaval9920]

Great insights, Professor Wolff!!Could you please the changes from factories that were run by factiry commuters vs. factories run by appointed managers(?) after 1921 or so?

[@LIoydxmas]

Very interesting, love the nuance Mr Wolff made at the end. We have not tried communism yet as an economic model. The big question for me is, can this work on a national basis when the rest of the world operates on a capitalist model. How would international trade be enabled? How would it resist the outside attempts to overthrow and revert back to capitalism? Would it take a coordinated global (or at least of a community of nations) shift so it stands a chance to survive and evolve? Let's see if videos in this series can provide some answers to those questions...

[@amymartin7272]

Many maritime Jane'ston know no.

[@alphaomega1089]

The 1960s and 1970s hippy culture saw it right. Do it yourself. Not state run, and forced on those not seeking to be part of any tribal group. 'I killed it! It's mine! I don't have to share!'

[@reubenmorris487]

What you're telling me is that under Communism, an executive wouldn't be able to make 228-400 times more than the people who perform the work and add tangible value to a company?

[@whatabouttheearth]

Under Communism (I'm not talking about state Socialism like USSR, Cuba, China etc) there is no executive

[@psikeyhackr6914]

Karl Marx used the word 'depreciation' 35 times in the first two volumes of his major work. But Marx died 2 years before the invention of the gas powered automobile. How much have consumers around the world lost on the depreciation of automobiles since Sputnik? There were 200,000,000 motor vehicles in the US in 1995. Where did the depreciation go?

[@kp6215]

Good question.

[@psikeyhackr6914]

@@kp6215 How often do you hear communists/Marxists talk about planned obsolescence? The Laws of Physics do not give a damn about these ideologies.

[@javiervasquez29]

If you don't understand depreciation then your not smart enough to have any Discussion.

[@psikeyhackr6914]

@@javiervasquez29 ROFL In the Net Domestic Product equation that economists use Depreciation only applies to Capital Goods. Of course the Laws of Physics do not care about economics and cannot tell Capital Goods from Durable Consumer Goods. So the loss in Net Worth that consumers experience due to cars and refrigerators and air conditioners wearing out is irrelevant to economists. But since they must purchase replacements to maintain their quality of life those purchases get added to GDP. A treadmill to nowhere for GDP. What do economists say about planned obsolescence?

[@authenticallysuperficial9874]

​@@psikeyhackr6914 Macroeconomics is bullshit state propaganda

[@amymartin7272]

Yani money.

[@swapansinha5717]

Communism is the future thinking of socialism.......

[@amymartin7272]

Jadictate no. Jurer'sdiction en mary you law lately.

[@mehdihessami3568]

❤thanks

[@JMoroccoMisterBoy]

Tks. much

[@pjaworek6793]

7:10 "before jumping in" FYI

[@TC-eo5eb]

I can't wait until I finish building this raft so I can escape to communism.........said no one ever.

[@Sufi_Alchemy]

Cant even use the word communism without ending up in endless defenses.

[@peterbelanger4094]

Damn skippy, and we will NEVER relent against you folks. To the last Furian..... "I kneel to no man".

[@antediluvianatheist5262]

75 years of propaganda will do that.

[@whatabouttheearth]

​@@peterbelanger4094 You can't even define Communism

[@whatabouttheearth]

​@@peterbelanger4094 You can't even define Communism

[@Sufi_Alchemy]

@@peterbelanger4094 well, you will never fight against ”us” or whoever you perceive me to be because its not up to me to decide how You and your kin live together in peace in your community.

[@mrmoneyhacks5480]

And Communism has worked out well in reality.... where?

[@ceeemm1901]

All "isms" are abstract concepts, mental constructs. All that's been going on for 300,000 years is hairless apes fucking each other over...

[@Glumclam]

@@ceeemm1901and the hairless capitalist apes will continue this nonsense.

[@ExPwner]

Nowhere

[@ExPwner]

@@Glumclammindless socialist hurls insults and no argument

[@yayatoure3461]

WHAT. A. LECTURE! Maaan thatbwas good. More more more PLEEEASE

[@garrethoien6666]

What utter rubbish, the soviets and maos china gave back to the workers the products in proportion to thier efforts??

[@angelicafrancisco3943]

COOPERATION is needed among our elected officials !

[@kwakkers68]

They DO cooperate! In their service to Corporate Power!

[@amymartin7272]

Workheadansting😮