Economic Update: Are Mega-Corporations Ruining Our World?

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[S13 E09] Are Mega-Corporations Ruining Our World?
In this week's show, Prof. Wolff presents a critique of monopoly and oligopoly; past efforts and success in popular control over mega-corporations - in US and abroad; the fight back by mega-corporations to nullify reforms and regulations. Finally, some real solutions to the social problem and costs of an economy dominated by mega-corporations.
Timestamps
00:00 - 01:11 - Introduction
01:12 - 04:30 - Monopolies
04:31 - 05:08 - Oligopolies
05:09 - 07:15 - Unfair competition
07:16 - 08:54 - Vertical integration
08:55 - 10:01 - 19th 20th century responses to monopoly power
10:02 - 10:22 - Sherman Antitrust Act
10:23 - 11:00 - Clayton Antitrust act
11:01 - 11:27 - Govt breaks up AT&T
11:28 - 13:29 - SBA formation
13:30 - 13:59 - Regulatory Capture
14:00 - 15:21 - Announcements
15:22 - 18:21 - Utility and Insurance Commissions
18:22 - 20:07 - Small business response in France
20:08 - 21:10 - Germany's response 50% seats on Board by workers
21:11 - 29:46 - Solutions/Alternatives
Economic Update with Richard D. Wolff is a @democracyatwrk production. We make it a point to provide the show free of ads. Please consider supporting our work. Join our Patreon community: / democracyatwork and help us spread Prof. Wolff's message to a larger audience. Every donation counts!
A special thank you to our devoted donor community whose contributions make this show possible each week.
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Check out the 2021 Hardcover edition of “Understanding Marxism,” with a new, lengthy introduction by Richard Wolff is now available at: www.lulu.com/
“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.”
Check out all of d@w’s books: "The Sickness is the System," "Understanding Socialism," by Richard D. Wolff, and “Stuck Nation” by Bob Hennelly www.democracyatwork.info/books

[@Raymondjohn2]

A perfect storm is brewing in the United States. Inflation, bank collapse, severe drought in the agricultural belt, recession, food shortages, diesel fuel and heating oil shortages, baby formula shortages, available automobile shortages and prices, the price of living place. It's all coming together and it could lead to a real disaster towards the end of this year (or sooner). With inflation currently at about 6%, my primary concern is how to maximize my savings/retirement fund of about $300k which has been sitting duck since forever with zero to no gains.

[@bob.weaver72]

These are the conditions in which life-changing money is made by those who remain calm, patient, and take controlled risks. Volatility goes both ways. The bigger the red candles, the bigger the green ones.

[@martingiavarini]

Investing in stocks can be a wise decision, especially if you have a dependable trading system that can lead to successful outcomes. Personally, I've been working with a financial advisor for about a year now. Starting with less than $200K and I'm now just $19,000 away from making half a million in profit.

[@hermanramos7092]

@@martingiavarini I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same. Is there any chance you could recommend who you work with?

[@martingiavarini]

@@hermanramos7092 my advisor is ‘’Catherine Morrison Evans ’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@hermanramos7092]

@@martingiavarini I just Googled her name and her website came up right away. It looks interesting so far. I sent her an email and i hope she responds soon.

[@treefrog3349]

Something you didn't mention : how the profits of corporations are internalized while the negative "externalities" of their operations are payed for by you and me, the taxpayer. The mere term "externality" is a slick and insidious, lawyer-ish ploy utilized by Big Money. Not to mention the "subsidies" we, the tax payer provide them as they rake in record profits!

[@MountaineeringSense]

Good point, but after listening to Mr. Wolff for sometime now, that goes without saying at this point. I call it the "Shxt Flows Downhill" Theory! Like in Palestine! Love the Wolff! However, this is not Capitalism... too big to fail...too big to jail. This is full blown fascism ... the merger of state and corporate powers! The Wolff is a very wise man and understands the manipulative power of Edward Bernays work on Public Relations. This before social media, but the principles remain similar. Humans are Herd Animals running out of Fertilizer and other Resources.

[@dickcastle]

See: Norfolk southern

[@koahamtosoaham]

Soon God will attend ro all this, as the USD collapses to its intrinsic value of 0.03 $

[@MountaineeringSense]

@@koahamtosoaham Which "GOD" is that? "GOD" is typically used by Humans to maintain faith in the Status Quo while providing for the ultimate form of plausible deniability. I agree with the 0.03 $ part though.

[@DeathToMockingBirds]

As a worker, I've been just as exploited, if not more, by small family-owned businesses.

[@vg7985]

Absolutely. Because every small business wats to capture bigger market share and increase profit. Just part of capitalism.

[@matthewmcree1992]

It's true. The most exploitative jobs I've ever had, not necessarily in the true Marxist sense of exploration (aka profit margin per hour extracted from the workers), but in terms of how hard they make you work and how much you get paid - have all been from small businesses. The least exploitative job I've had yet is my current unionized job working for a Fortune 500 corporation, because they are able to offer more and better benefits, and far better pay, in addition to being able to offer things like catered lunches and so on, and it's not because they want to be more humane than a small business, but rather because the corporation simply has far more money they can spend, and because they are more of a target for OSHA and the Department of Labor as an entity with large numbers of employees. People like Matt Stoller who act like the problem with capitalism is the problem of monopoly and oligopoly make the critical mistake in assuming that smaller businesses will be better for workers and consumers, when there is just no evidence of this. Perhaps product quality and prices would be better for consumers, but they would be no different for workers. This is why the Marxist perspective is invaluable.

[@gdobie1west988]

In what way, can you give some examples??

[@DigiologyStudios]

I was just terminate that's how I call it from my life long career employment at age 66 by dubious assumptions of my age by a small company. I believe their less susceptible to discriminatory accusations then larger businesses which have greater implication put upon them by government. The #Covid-19 pandemic has put pressure on the employment sector in way that have done nothing but benefit corporations and the wealthy.

[@gdobie1west988]

@@DigiologyStudios Sorry to hear that. I will be retiring in about 5 months at the age of 65, I can still work circles around at least half of my co-workers. It seems that some of the younger generation (not all) doesn't want to work, not to mention be late, call in sick all the time or just do a lousy job. Companies should value all employees, especially the older ones that still want to work, since the choice of people to choose from to hire for the most part are less than desirable.

[@Erikkurilla01]

Despite the fact that I invest, I am saddened by my inability to evaluate each company's performance and determine whether or not this is the ideal time to purchase stocks. My monetary stockpile is being depleted by inflation. At this stage, I need accurate market trajectory data, but I'm not sure what to do.

[@Lemariecooper]

Particularly in this weak market, there are several opportunities to generate excellent returns, but such intricate transactions can only be carried out by seasoned market professionals.

[@jessicasquire]

I suggest that you look for a mentor or knowledgeable advisor, particularly in light of the current economic climate.

[@patrickbrussels4454]

@@jessicasquire I completely agree, which is why I prefer to delegate daily decision-making to an investing coach. It is nearly impossible for them to underperform given their specialized knowledge and research, as well as the fact that every one of their abilities is geared toward utilizing risk for its asymmetrical potential and mitigating it as a buffer against certain bad turns. I've been working with an investment coach for over two years and have made over a quarter million dollar.

[@Erikkurilla01]

@@patrickbrussels4454 I've been thinking about going that route. I've been holding onto a lot of stocks, but they're starting to lose value, and I'm not sure if I should retain them or sell them. I think hiring your investment coach would help me restructure my portfolio.

[@patrickbrussels4454]

@@Erikkurilla01 Yes, you can use a search engine to hunt for *STEPHANIE KOPP MEEKS* . However, I'm not certain that I can bring this up. In 2020, she attracted a lot of attention. She manages my portfolio and serves as my mentor.

[@northstar1060]

there is too much wealth concentrated in the hands of too few people .....who are not competent enough to use it for highest and best purposes

[@jgalt308]

and what would those be?

[@user-gz4ve8mw9l]

Doesn't help one bit the overwhelming majority of them are sociopaths and narcissists. Whom also happen to be completely out of touch with reality itself.

[@twilawilcox8099]

I've been thinking lately that we need to start an employment agency co-op owned and operated by all the employees that work for it. Eventually other companies would have to raise their wages to even get anyone to work for them. I'm fed up with the business community owning and controlling far too much of the wealth and resources in the US and I don't see anything improving until they are brought under control of the people.

[@madjidmouas3519]

Quite a revolution. May be the world will see socialism for what it really is and stop freaking out at the mere mention of the name? I sincerely wish you good luck. "A journey of a thousand miles begins with a single step". Safe journey!

[@Raidersfan-gn7zo]

Love that idea! Every country should have one! I love the idea of cooperatives, if only 100% of the population would start one and abandon the private sector!

[@dannychan1342]

Spain's Mondragon cooperative can give you an idea other than corporation only.

[@scottdavis3571]

We have to cover all the various disciplines. We would need to corner what's left of the labor market, offer fellow workers food and housing. They will be forced to automate and use AI. That will be expensive.

[@serriajohn]

the answer is simple, USA need to get more socialism, therefore learn from China.

[@Riggsnic_co]

Great video, I've been interested in investing ever since I came across articles of people making up to $150,000 and more in this period, thanks for the video but is it really possible for a retail investor to achieve this in months?

[@Oly_laura]

I've purchased numerous stocks in individual firms. Because there are so many stocks that will skyrocket in the long run, it is currently safe to buy in on ETF and ride it out. Due to fud, I sold out early, but then retraced my ways and re-invested $350,000 with a financial advisor who manages my account. I received an 82% return last year and will see where it goes this year.

[@hermanramos7092]

that's quite impressive, you surely made a good bit of money. I myself invested in warren's BRK-A stock quite pricey but totally worth it.

[@kenanporubsky2122]

@@hermanramos7092 I just started a few months back, I'm going for long term, I'm still trying to wrap my head around it, who’s this advisor you work with ?

[@hermanramos7092]

@@kenanporubsky2122 'Catherine Morrison Evans’is the coach that guides me. She’s a verified coach and she helped me see that returns can be made in both bull and bear markets. She covers things like investing, insurance, making sure retirement is well funded and looking at ways to have a volatility buffer for investment risk, lots of things like that.

[@kenanporubsky2122]

@@hermanramos7092 thanks for sharing this, I am in conversations with your advisor, and she really has substance, having interviewed her properly and reviewed her model, I am hoping she takes me on quite seriously too

[@user-em6ie2be7x]

You nailed it Professor Wolff Corporate Oligarchs pretty much own Governments all over the world.

[@scottdavis3571]

They even own the "social democracies".

[@gezin82]

It's a capitalist dream now. Hister would be proud and Darwin, Margaret Sanger and the 🐀 rats.

[@user-gz4ve8mw9l]

Inevitable under capitalism(fascism).

[@gezin82]

@Scott Davis I say Sanger because despite an outward noble cause to the public. I understand she believed in eugenics from a racist view. I could be wrong but it has nothing to do with beliefs. I suppose I'm a believer in God. However I don't have proof as you say and don't adhere to any specific religion.

[@scottdavis3571]

@@gezin82 You don't like Planned Parenthood. She supported women that were not empowered to bring children into the world because of economic circumstances. She was for empowering all women, no matter the color of skin. Conservatives will bend anything because they don't like Planned Parenthood and they feel that women should be back in the kitchen. This is historical Conservatives call it "tradition". Eugenics was just an idea that can be used easily for nefarious reasons, I agree. But Planned Parenthood needs to stay.

[@TomRivieremusic]

When exposing a crime is treated as committing a crime, you are being ruled by criminals.”

[@MrDXRamirez]

The professor lays out some real important points and ways to start looking at monopoly capitalism with more precision.

[@jgalt308]

What are those important points? How do you look at monopoly capitalism with more precision, when you don't know what capitalism is or what a monopoly is? Is monopoly bad? If so, then a monopolistic government would be? A monopolistic union would be? Were the "robber barons" monopolistic? If so, who did they rob, and by what means was this robbery committed and what were the effects on the general population as a result of this robbery? What points did Wolff make with regard to these questions? If any? What is the evidence presented that confirms they were valid points? If you have a problem answering any of the above, why do you believe there are any valid points being made by Wolff?

[@yorsan2240]

​@@jgalt308there's a live answer to your questions in America today ,look at prices everywhere, look at banking system loaning trillions they don't really have just because they have the authority to do so , all businesses are being indebted to them over Nothing, a dollar with zero backing

[@jgalt308]

@@yorsan2240 Yes it's called "fiat" money, the gift of FDR that keeps on giving. So the present was inevitable and began 90 years ago. Or 120 years ago. But it doesn't answer the questions asked regarding monopoly or the actual history referenced.

[@kaceykelly7222]

If enough people listen and share this knowledge, this can be the beginning of a new economy and a much better world. Once we see what we can be, I don't think we will want to ever go back.

[@GrandmaCathy]

That’s what they said in 1940.

[@markmahan38]

P&G is a perfect example of vertical integration. They buy out the product lines, by buying the company who made the brands.

[@jgalt308]

So you don't know what vertical integration is?

[@scottdavis3571]

@@jgalt308 Yes John Galt. We want to democratize ownership of the means of production, though. We don't really care about so-called "Captains".

[@jgalt308]

@@scottdavis3571 So, do it. Might help though, if you learn to read first, proving that you know what the words mean. For once Wolff actually explained what something was correctly, and then along comes one of his sycophants, who gets it perfectly WRONG. Might help if you also had a grasp of the reality of who "we" is!!

[@cheri238]

When one knows one doesn't know, when one doesn't know, then and only then, one may. Thank you, Professor Wolff, for all you do. You do know. Thank you for teaching us.

[@jgalt308]

and what would that be?

[@cheri238]

@@jgalt308 CAPITALISM IS THE PROBLEM.

[@jgalt308]

@@cheri238 And you know this how? Because Wolff says so? He doesn't know what "capitalism" is...which means you don't either. But here's an easy one for you...who did the robber barons rob and how did they do it, assuming you know who they were?

[@cheri238]

@J GALT The Robber Barron's were JD Rockefeller, Vanderbilt, JP Morgan, Carnegie, and his sidekick Hicks, and there were others, but here are the big four. What did they own and control? May I ask you? Subsequently, I assure you, Professor Wolff knows his American history on all sides and his expertise in economics. Why are you always analyzing me? "Those who are too lazy and comfortable to think for themselves and be their judges obey the laws, others sense their laws within them." Hermann Hesse, 1877-1962, was a Swiss poet and author. "The Birth of Tragedy," and other essays by Frederick Nietzche. I love many subjects and great thinkers, and scholars, therefore I choose the ones that have a balance of vision and wisdom of incite. I may have only a GED, but please don't pity me. Self-pity is a waste of energy and time. I have been reading books since e the age of 5 and not just nursery rhines, even though I loved them also.❤️

[@jgalt308]

@@cheri238 I'm glad you know who they are...now all you have to do is finish answering the question regarding them...and I don't pity you...although you might want to use more appropriate sources with regard to the facts here. But since you are confident that Wolff knows his "history", and these were "monopolies" then did the prices they charged for what they produced increase or decrease? And just for fun, during this period, did the purchasing power of the dollar increase or decrease?

[@singingway]

Just wanted to express my appreciation for your excellent teaching. You have been a large part of my education!

[@niyazali9520]

Pay tributes to the knowledge owned by wolff,& his urgency to make literate &awareness to all others-is a missionary work,imparted to everyone else.Thanks again.

[@Joy3269]

God Bless Prof Wolff. He is a true Hero a true Blessing & a True Genuine Human Being who brings the truth to us. The World needs more & more Heroes Like himself. May God Bless him. We all must support him. Thank You.

[@tymanung6382]

Fortunately. we have USA + Prabhat Utnaik. Vijay Prashad, Radhiks Desai. Mochael.Hudsom. David Harvey. John Bellamy.Foster, Noam.Chomsky, Michael Parenti. etc--- several.thinkers + publishers &/or researchers-- Tricontinental Institute for Social Research. Peoples Forum NYC. Left Forum, Haymarket Books. Monthly. Revire Press +.magazine. Z Magazine.+ S End Press. Intl Publishers. Charles Kerr Pub.. fortunately.etc.,etc..etc.!!! .

[@michaeldaruwalla8717]

You hit the nail on the head! However the situation is more serious when you consider what these mega cooperation do abroad,especially with developing countries or corrupt leaders. Slavery under a different guise is rampant!

[@boombot934]

Thank you❤🌹🙏 dear💕 professor Wolff, hope❤ your channel grows bigger and better!

[@jdcjr50]

It's owners vs. inhabitants. Thank you for pointing this out so well.

[@johnsterlin211]

I'm no economist but I have been saying so to my friend for years. Bravo!

[@jgalt308]

Don' feel bad, Wolff isn't an economist either.

[@MedfordHills]

Thank you for your excellent work

[@admiraleveleigh8573]

You should do a video comparing private companies and state run companies to analyze how they compete with each other in the global economy

[@OlafsonN]

Thank you for these. 👍

[@IanCunningham92]

Big corporations play an outsized role in the stock market as well. Because of the rise of index funds such as the S&P 500, a huge chunk of money that's invested in the stock market goes to inflating the share prices of the biggest 500 companies, purely due to their size, as opposed to providing capital to smaller companies that are growing and innovating.

[@tymanung6382]

As Michael.Hudson says, there is finance for speculation vs finance for production of physical.objects, services, data, etc. = real sector of economy.

[@NoThatRyan]

Great video, Professor.

[@alexanderantonius1191]

Thank you for the info

[@brianwheeldon4643]

Magnificent Richard. Many many thanks

[@JohnDoe-gk5xj]

Interesting topic, and incredible breakdown.

[@user-pq1ik1vo1s]

The smallest man is he who has used lots of time own tongue and gotten a number of English answers. Thank you a lot

[@karl1949]

Articulated in a way few can or perhaps dare, I thirst for more insight, thank you Mr. Wolff ~ Homerun analysis and strategic challenges worth embracing, if the youth and more of us could really appreciate what they/we are up against maybe they would help press the playdough through a different mold.

[@jgalt308]

Nah, Hitler was a far better "rabble-rouser"...and he actually had a rabble to rouse... but he does have the..."It is because of "capitalism"" thing down...if only he knew what the word meant and could actually prove it.

[@kassfischer5146]

I love the content - and the opening music.

[@akarakas1453]

Thank you ❤

[@maxgatica5736]

Excelente presentacion como siempre MAESTRO felicitaciones

[@pipster1891]

If you want to know what a corporation is or does, I recommend the excellent 2003 documentary "The Corporation" and from 2020 "The New Corporation: the Unfortunately Necessary Sequel". They're on KZbin.

[@treefrog3349]

This documentary should be required viewing for all high school students

[@annemariediscretion8757]

Merci beaucoup de Paris Francr

[@RandyHartono]

Thanks for the enlightenment Prof. Wolff ❤😂🎉😅😊

[@Chelseabell112085]

Can we please get Mr. Wolff in the oval office?! The video about capitalism and the war in Ukraine should have been our countries state of the union address. This man is a damn unsung hero

[@jgalt308]

Be nice if he knew what the war was about...and that it is "government" that is responsible for it Got the pandemic thing wrong too so in the scheme of things, he is not very bright but just another little boy crying wolf...I guess he scared himself by looking in the mirror.

[@matthewo2261]

For anyone who watch's this channel you MUST look up economist Michael Hudson. Dr. Wolff explains things in a general and simple way, for new audiances, while Michael Hudson presents what people who have watched Dr. Wolff for a long time want.... in depth details about what is happening and who the players are.

[@tymanung6382]

Both made a joint video together on youtube !!

[@marvina.8502]

I'm very picky of what I watch and this is one of them ! 👍

[@marcseghatol6583]

Great , clear .

[@davidd6660]

great summary. I'm a fan. Cant tell you how sick it makes me when i see the chilling effects of these industries and how great they think they are for their customers and employees while simultaneously sucking the life and joy out of the environment.

[@walmyvlad2966]

The solution is NOT complex! Thank you boss!

[@sizzla123]

Awesome.

[@alhaah777]

I like this channel because there is no ad.

[@whynaut1]

Yes. Moving on...

[@suchitabhat5051]

In India there are too many small enterprises and very few big ones. As a result, it's extremely hard to find people to work for you, however much you pay, and it's impossible to do everything alone. Robots and machines can't replace humans. Manpower is a very big and serious issue.

[@victorcamilo7232]

Thanks!

[@shellb1633]

I have an idea 💡 If they want to save a lot of money, they could fire their CEOs

[@andypex2000]

❤😊 Great job @democracyatwork

[@caseykuzdrowski5204]

🔥🚬🥇🚬🔥 Spot on Richard 💯 The beginning, middle and end of story. 🥂🎬🚬

[@LeonteConstantin]

Thanks

[@MrAbzu]

Obviously, good show.

[@mspiekkola]

You are the best!

[@fatcat8dog]

Comment added for algo- rhythm n blues 🎉.. keep teaching us

[@rxnlfr7664]

Quisiera abrazarlo de tantas verdades y barbaridades que nos comunica. Es tan importante que todos estemos enterados lo que hacen las grandes corporaciones y como sus acciones arruinan la "libre competencia " ....y al ser humana común y corriente habitante de este planeta tierra. Saludos desde el sur del mundo, from. Chile.

[@mr.badpita]

Based- keep up the good work. 🔥 🔥 🔥

[@nasrollahkiarash5090]

Good day dear professor wollf, Would you please tell us about Mr. Mersheamer's position on Ukraine war is correct?

[@alisonmcrae1281]

I worked for AT&T we were regulated & only allowed to make a certain amount, not allowed to make more. I never laughed at my customers I tried to help. I didn't price anything that was done by the company & the government. Now telephone services are more expensive.

[@thomas45081]

I love when Professor Wolff starts to throw history in it ... we ALL need to learn more about our history, to see how much really hasn't changed ... and how much on some avenues we are going backwards. Pro-mega corporate owned politicians and corporate mouth pieces, will commonly say if you bring up these points, and history, that you're anti-business, but to bring this up and to fight against these behemoths, in actuality, is very PRO-BUSINESS. And these smaller companies employ a majority of our workforce, and treat us with more respect 🟪

[@martinsepion]

Standard Oil is another example of monopoly power.

[@bma1955alimarber]

Yes! What should be done to return to Adam Smith theory of liberalism?

[@ciara5867]

Fantastic speech.👏👏♥️♥️🇮🇪🍀🇵🇸

[@yorsan2240]

Florida's insurance commissioner failed to do his job ,he presented resignation the day after legislation passed, governor signed as well

[@robertrussell1879]

That should be a fairly obvious YES!

[@talorzwilliamz4134]

I made these exact suggestions

[@stevenhopper-hj5uh]

Richard Wolff: You describe how these corporations inevitably become more monopolistic as a function of capitalism. And this to survive as well as dominate! Have you looked at what else has been going on? What of the domination by governments: to the workers of large organizations, does it matter who or what the "boss" may be? The worker's efforts, ideas are not his. He is totally anonymous! This is unless he is considered special: perhaps a party man, "hero", manager, gov't , military etc. personage. Can a "socialist" answer be really found in lieu of what was, at least originally, the volition of the much smaller, hopeful group of individuals?It's possible the cure will make it worse.

[@chrisdrippe]

I am building cabinets as a self employed worker..the ONLY reason I am not working for some mega corporation is because I was given the extremely rare opportunity to build my own shop with very few regulations.. Sadly our country becomes more like Germany where you can't even imagine doing anything as a free and independent thinker.. the German regulators would walk into my shop.. lock me up and wrap me up permanently in red tape.. good bye small business.. I was home schooled so that is illegal there.. gotta prevent independent thoughts befor anyone tries to start up a small business.. or challenge the many regulators and their careers .

[@tomtuttle919]

Simple answer, yes..

[@dawnemile7499]

Very thoughtful discussion. It is only when the companies are growing and innovating that they are useful to all in society. A limit needs to be imposed by elected bodies to do this. Right now, political parties are monopolies as well. Why is there just conservative and liberal options in the US? Maybe the fight has to start there.

[@slammajamma5435]

Yes

[@PoliticalEconomy101]

No need to sacrifice. After a certain size they should be nationalized which adds to the social surplus and public wealth. No different with coops.

[@hhheee3939]

They are vanguard, state street, and blackrock

[@joepapczun7526]

Thanks Mr Wolf. And all of what you just described is even more bitterly amplified in nations, where the resources and ability to compete is much smaller than in the USA. They, the Oligarchs, loudly shout out: Allow the competition and free market to decide about the success of our endeavour. And with this Bullshit misleading, knowing that those poorer nations have no ability to compete against these multinationals, they win over and in the process destroy zillions of local smaller businesses and kill the livelihood of millions of people. I would absolutely support the initiative that the Germans introduced to curb the behavior of those bigger companies by electing their representatives.

[@ProLim580]

Definately !!!

[@Gigika313]

Yes.

[@1LaOriental]

Ernst Wolff writes about the “Digital, Financial Complex” Would be great if Professor Wolff would interview him.

[@plumbbobconstructionpants5599]

Yes. Next question.

[@fredriksundberg4624]

Oligarcy. One ring to rule them all?

[@peterjol]

The ONLY way I am able to see OUT of this insane system would be to make it financially worthwhile for people to SHARE the jobs WE would democratically agree we NEED and want to have done and work much less...no more working primarily FOR money ..no more an infinite growth system...no more doing bullshit jobs...no more doing pointless jobs...no more doing planet harming jobs..no more fears of losing jobs...no more unemployment ..just the pleasure of less work.

[@CatastrophicNewEngland]

Bringing money back to 100% barter system, or simple medium of exchange. No "growth", no interest, no speculation, no "capital gains". The idea that growth is necessary for prosperity of all was created by those who desire power over others.

[@user-Umeed]

I really like your idea of making this world a better place for everyone, I suggest that you should give rights to individuals in each country to promote the idea with some due diligence mechanism around the world. Imagine what the people of developing and underdeveloped countries must be going through due to the oligopoly and eventually ruthless monopoly. And I am a chief-level employee for one of the largest groups. And I can relate your thoughts with our situation in Pakistan and must be in India and other asian and African nation. Look at the Ambanis and mithal and a couple of others in India. We can revolutionise the world through this new theory of new living across the globe. I would love to take this initiative for my country “Pakistan”.

[@backToFreedom]

You almost got it! You are very right when you explain that there is an obvious need to limit the size of BIG corporations. Limits are the most important characteristics MISSING in the capitalism model. However, you forgot to talk about the most important limit and this is the limit on how much wealth a SINGLE INDIVIDUAL should be authorized to accumulate. The nature has limits: a tall man is not 300 times taller than the shortest man, a fat man is not 300 times bigger than the slimest man! Why don't have we limits on INDIVIDUALS? If we have HUGE corporations it is because they pay HUGE revenues to their top management. Top management is highly paid to give HUGE profit to stockholders. The most important point is to limit how much wealth an individual can accumulate. Until we keep having billionaires and now as inequalities increase we have trillionaires the problem will never be solved! We need more millionaires but prevent the existence of billion or trillionaires!

[@setilaalaghband8446]

Recently this question occupy my mind. What if money doesn’t grow? What will happen? Probably everything takes the right place.

[@firozebukht8207]

Either big mall employments or self employed small businesses economically which option would be good enough.

[@BCSTS]

I think RFK Jr......would agree with some of these ideas.....I know he hates the power wielding corporations ! I hope he and you can discuss this at some time !

[@conniehayes4957]

Yes there a big part of it

[@petestanton1945]

yes

[@jamesberry7150]

So in the early seventies we knew. We had a population problem. But the dept based economy need more people to justify made up money and demand for goods and services. However now so much capital has been created the prices are too high for regular people to afford.

[@antimattv]

D@W I would very much love to see your approach to a big issue. How do we push our politicians and leaders to turn away from the usual escalations of war? Force peace on the elites and say no to another forever war (in this case Ukraine and perhaps Taiwan).

[@antimattv]

@@disruptapps Try doing that with a fully intact national security state currently engaged in forever wars and global brinksmanship. They'll crush you like a mosquito. Julian Assange is still rotting away. There are real life barriers to the kinds of things we have to build. Anology: Do you start building roads, depots and hospitals before or after you've defeated the enemy? I made the original point because I would like to see a little bit more anti-war, pro-peace fervor from D@W. They need to keep up with the zeitgeist or risk losing their momentum.

[@jgalt308]

We use to have a "constitution" that served that purpose...but you don't anymore, so now you have the government you deserve.

[@antimattv]

@@jgalt308 The constitution continues to fit its purpose wonderfully. That is to ensure the wealth of a select few property owners.

[@jgalt308]

@@antimattv Really...so can you cite the parts of the constitution that states that is its purpose? Take your time... you can find a copy of it on-line just in case you you never read it or forgot what it was that you read.

[@antimattv]

@@jgalt308 The constitutional debates made it clear what the intentions were. The population, according to James Madison was never meant to be anything more than spectators who rubber stamp the policies of congress and the senate. I'm not getting into a pseudo-religious argument about some dusty old tome. Rules are meant to serve people, not the other way around.

[@Realg401]

Can you do a video on Uber and ride sharing apps taking advantage of customers and drivers and no claiming them as employees

[@estomihijohn6013]

Haleluyaaaaaaaa! Haleluyaaaaaaaa! "(Exodus 18:11)" Now I know that THE BLESSED MOST HIGHER HOLY ALMIGHTY MIGHTY is greater than all gods:Haleluyaaaaaaaa! Haleluyaaaaaaaa! "(Exodus 18:11)" Now I know that THE BLESSED MOST HIGHER HOLY ALMIGHTY MIGHTY is greater than all gods:

[@heathercole6750]

Agreed

[@kdacuna]

Thought leader 💯

[@user-wp8yx]

This is very good. I would just add that successful corporation do not become successful because of the services they provide or the customers they serve. They become successful because of government boons and by not paying taxes.

[@jgalt308]

And who would those be?

[@user-wp8yx]

@@jgalt308 companies like Wal-Mart, the banks, the oil companies, the rails, the airlines, Amazon, Uber, GE, SpaceX Tesla, Microsoft, Mac, Intel are some big companies. There are lots of little companies at the municipal level as well. In my neighborhood, it is Cookie cart, Webber Mart, HW White, Camden Cycles, North Market and a whole lot more. Not my business though. I'm in the "free" market.

[@jgalt308]

@@user-wp8yx But the banks aren't capitalist, nor are real estate or insurance companies... As for the rest, what seems to be your problem with them...and what proof do you have that they are not paying taxes? And what is the reason that they are not? And what "free market" would that be?

[@user-wp8yx]

@@jgalt308 right, they aren't capitalist. You can look up the rest.

[@farinshore8900]

HELL YES !

[@johnstrawb3521]

Anyone posing this as a question in their title is begging not to be taken seriously.

[@nancyk7954]

I think corporation having taken over happened quite awhile ago. Ever hear if Citizens United? The Supreme Court passed it back in 2010. Do people have any idea what that meant? What do they think it meant?

[@alisonmcrae1281]

Congress was told by the court to make the money transparent, once again the politicians did not do their job.

[@CatastrophicNewEngland]

@@alisonmcrae1281 They did their jobs perfectly. What their real purpose for existing is, is not what the people would like to believe it is, and is the opposite of what the people have been led to think it is. Faith in a false reality is the only think that is keeping their system going.

[@patrickformert8460]

Just chack what happened to the Qatar gate( corruption case ) swept under the carpet

[@criticality2056]

Walmart, how have they raised prices through monopoly?

[@vthilton]

Sharing will save the world.

[@Misaka-gt5yj]

I mean a corpo literally did toss 25k barrels of DDT off the coast of Cali but ok. Your government is a bigger problem for allowing lobbying to be a thing.

[@marywest6844]

Answer to heading. I$ YES. Thus free spirit.

[@doinalechanu6092]

I ran away from communist east Europe where there was just one telephone company, one gas company, one electric company. The government owned them all. There was no choice; the prices on the market were dictated by the government, there was no property and no competition. It was not good. That's why I ran away and I am happy I was accepted to live in America and make my own choices. So what do you mean it was bad that there was just AT&T ?