Economic Update: Why Capitalism Reproduces Inequality & a Solution

[@caseyakasubzero]

Richard wolff is the most underrated economist ever since I discovered him I have a much better understanding of the world

[@therevolutionwill23]

And we think we're so clever and classless and free, but we are all f'ing peasants as far as I can see. - John Lennon.

[@koalasquare2145]

This sounds like a rap

[@jacy717]

We’re peons!

[@WackadoodleMalarkey]

If you want peace you won't get it with violence. -John Lennon

[@selftaughtinfection]

@@WackadoodleMalarkey not a fan of that one. Unprincipled peace is not justice and those in charge will not just let their grip on society slip without a fight.

[@mr85grim]

@@selftaughtinfection I second that. That's why the left in this country has been so impotent till recently.

[@nicka731]

This predates feudalism. The advent of agriculture and farming caused surpluses which created hierarchies that decided where and whom to distribute otherwise collective efforts.

[@philipbrown2225]

yes, look at the Mayans

[@WackadoodleMalarkey]

Apes tend to ostracize the morbidly avaricious.

[@selftaughtinfection]

Yes, dialectical materialism and historical materialism explain this perfectly.

[@vibhuvikramaditya4576]

capitalism is at least certainly more fair than feudalism and earlier economic systems, his claim there could not be more starling fails in the face of history, At a point in time, Akbar the ruler of india, owned more than 98% of the world

[@AudioPervert1]

Least he can do, is called it "Late Capitalism" - As is, these discourses produce little to zero effect about the subjects being spoken. Such verbiage is a business on KZbin after all... Late Capitalism itself is KZbin.

[@datboyke]

We love your work Richard! 💯❤✌😅

[@mehdi1330]

Amazing information, will people wake up? How long before we'll all wake up and do something about it? I wonder.

[@uncannyvalley2350]

Americans are in love with chasing their own tails, they just cant get past their own egos, and it's dooming us all America is not a democracy, never was. A Nation's future should never hinge on the proclivities of any single person, voters on both sides are exactly the same whenever someone challenges their beliefs, and both accuse anyone who doesn't agree with their assigned talking points of supporting the other party. Thus the supporters of both parties have hijacked and sold out the rest of humanity for the sake of their own egos and lack of imagination And this is how they've controlled us from the dawn of the 20th Century, where they pit us against each other, seed the debate with misinformation, some populism, and some catchy epithets, and continue to go about their plunder unopposed. All representatives will always be subject to influence from moneyed interests, blackmail, or assassination. The solution is a *Velvet Revolution* to install a *Scaled Direct Democracy* without representatives or politicians. Citizens initiated referendums with thresholds and a social contract using blockchain technology means communities can vote their own policies without politicians. With a vote for, against, and the option to redraft or veto, with the relative proportional thresholds. *Thorium Energy renders their global oil monopoly obsolete.* *#VelvetRevolution* *#ScaledDirectDemocracy* *#ThoriumEnergy* Thorium energy can process both nuclear and toxic waste, as well as make salt water desalination and carbon sequestration economically viable. It can also power synthetic fuel manufacture, and electric power for all forms of transport. Thorium reactors cannot be weaponized, are walk away safe, produce grams of waste to the tonne of conventional plants, and are low level radioactive for 300 years vs highly radioactive for 25,000. A person's lifetime of energy from thorium would cost less than $100. It also produces the world's best known cancer treatment when 1/2 adult in the western world will contract it. "The thorium molten salt power plant can produce clean energy cheaper than coal, which could be a reliable energy system toward a low carbon economy" PAL said. www.reuters.com/article/us-indonesia-nuclearpower-idUSKCN1UD0D0 If the profits from American labour were shared equally as they are with corporate shareholders, every household would receive $700k annually. If we got even a fraction of that we would have more than enough to fund education, healthcare and infrastructure for everybody. 52% of all greenhouse gases come from methane produced by Beef farming, which is currently 90% subsidized. Ending Beef Communism and embracing Hemp and Kelp farming as Moonshot technologies for use in packaging, construction, manufacturing, medicines, insulation, and clothing could alleviate the worst of climate change, sequester carbon, revitalize crop land and restore depleted habitats. It would also be conducive to have an independent public authority drawing from volunteers to act as third party advocates for the public interest, with the authority to charge and prosecute bad actors and cops in our own courts. This would ensure both Government and Law Enforcement are held to the highest standards of etiquette, ethical conduct, and equality of outcome regardless of Creed Color, or Economic bracket. Finally a National Digital Forum that allows for open sourced debate is essential for fascilatating Direct Democracy, and addressing the issues America does not want to face, from systemic racism, to ethnic cleansing as foriegn policy. If these things can't be discussed with frank honesty, civil moderation, without religious protections, and without the generic knee jerk reactionary bs, there is literally no hope for the West, as we will die by our own prejudices and cowardice. And of course Reparations, and indigenous sovereignty, if we claim to stand for anything right and true, reparations have to be a part of that picture, and no one is better suited to protect our natural environment, than the people who were already here when we arrived. qz.com/1032154/america-is-not-a-true-democracy-but-it-could-be-with-the-help-of-technology/

[@ITNoetic]

@@uncannyvalley2350 "the solution is the blockchain" boi if you don't...

[@petercua6158]

Even if people wake up, they can not do anything. The rich control all the economy. Bottom people don't have a say to their decision.

[@andreasvukman]

@@ITNoetic Blockchain? How? Explain.

[@andreasvukman]

People will never wake up.

[@SovetUnion63]

Thank you dr. Wolff. The only problem is to make "enterprise democratic" we have to go with arms. Rich will fight using legislation first, with police and national guards - second and civil war as the last resource. They NEVER give it up freely.

[@thegratefulsteve]

No TAXATION without REPRESENTATION. Revolution now

[@LordKorgyab]

Tea Sea!!! ✊🍞🌹

[@Peter_Kropotkin]

Yes that is true but I think we should get paid more as the working class and tax relatively less so even if we do get taxation we don't necessarily agree with then it doesn't actually detriment our survival

[@misaelramos83]

@@Peter_Kropotkin Yes, OR get actual services based first and foremost on the actual popular need

[@deborahkusaj1928]

Viva la resistance. Revolution

[@joshpeck9266]

@@Peter_Kropotkin I don’t even think we should have taxation except for the very rich maybe very very slight taxation to maintain the infrastructure in case of emergencies but that’s it

[@steveneubeck3768]

Tomorrow 21 February, is the 175th anniversary of the "Communist Manifesto." There will be an on line reading.

[@cyphi1]

Damn I missed it

[@ecash30]

Thank you again for your insight and consistent reports

[@peterjol]

You would massively reduce inequality by making it financially worthwhile for people to SHARE the jobs we can agree we NEED people to do and work much LESS...no more slaves working and doing anything FOR money but everyone sharing and doing the work we NEED to have done.

[@thegratefulsteve]

The mark of a truly advanced society would have a work force as small as possible. UBI for all.

[@peterjol]

@@thegratefulsteve no in a truly advance society nobody would be anyone's slave they would share any work they need to do.

[@vg7985]

Some jobs need specific qualifications.

[@vg7985]

I think you're into something. I am not even against money, but money should be earned by working, not by special " rights" and not because you " own assets ".

[@atomiccritter6492]

@@vg7985 I dont even believe we need to be working as individuals - as long as the whole system generates then whats the problem with people NOT working?

[@R3yr3yproductions]

thank you Prof. Wolff, very informative

[@lesliewray9674]

When the last tree is cut down the last river poisoned the last fish caught, only then will man discover that he cannot eat money,

[@dougbright8120]

Nice little homily but it contributes nothing to the solution.

[@jonnymahony9402]

But we can eat the rich ☝️

[@pshill69]

Socializing the risk, privatize the benefits.

[@androocifer]

I love you so much! I hope for a better future!

[@Tacklepig]

I still find the analysis of dividing up capitalism in employer - employee relationship leaves out the suffering of those who have no job, or even who can't work (due to disabilities and the like). Redistribution of wealth also needs to take into account the weakest members of society, not just majorities.

[@atomiccritter6492]

we need a guaranteed ubi for all

[@MrDannyHeim]

Well then it sounds like we need a new system, ain't it? It also sounds like we, I mean all of us, need to rethink our desires. Maybe we need to think in terms of living much simpler. Maybe we should not think in terms of getting more, maybe we should learn what a limited life means, and how we might actually be happier without Macy's, Walmart and the Dollar Store.

[@ancomarzio8190]

that's the most pragmatic revolution that we can do also thanking that for now youtube isn't filtered "to avoid hate speech" as we're "producing now"

[@Ramiromasters]

Is safe to say, consumerism happens in part because people are trapped all day doing jobs they don't enjoy and buying things is a way to justify it and have some joy in their lives. Another portion of consumerism happens because things are in fact designed to break. Another portion of consumerism happens because advertising agencies have played psychological mind tricks on people for decades, also, the government commands you to buy, famous celebrities indulge in materialism, wealthy appearance is respected. With a more equal society, shaming excessive wealth and not working people like mules, I suspect humans don't really need to try to be humble or minimalist in any way.

[@UtubeAW]

Without the dollar store my family would not have personal health and cleaning items

[@philipbrown2225]

may I recommend The New Human Rights Movement by Peter Joseph

[@williamshafer3199]

sort of!? not too bad off ordinary person may be able to reduce eco-footprint, that don't stop mass destruction of planet by super-greedy elite, also no solution for billions of disenfranchised poor people :(

[@egorkotkin]

Prof. Wolff's slowly turning into a politician. The original type, tribune of the people as any politician should be. I like that. The wishes should turn into demands.

[@genewhitworth6174]

Very important point also, wealth is a comparative, based on the buying power it yields. So by creating poverty (eliminating competition) capitalists keep the prices they pay drastically down. Poverty is a produced commodity as well.

[@Newton14alan]

Climate Rebel -- You would think that The Wealthy would want EVERYONE to have plenty of money. Why? Because most people LOVE to spend their money! What's the "edge" of keeping people so poor that they can't afford to purchase your product?? We should ALL be millionaires. In fact, I demand it!...That oughta work.

[@jamesmorton7881]

You came here for the TRUTH. demand change organize mobilize question everything

[@koalasquare2145]

Can you do a video on praxis? It would be really insightful to know what policies or movements are helping this cause and what we can personally do

[@kitscheugy7739]

Thanks Wolff.

[@kosmic8204]

What would be the first steps from this point to move towards a better more social system?

[@GarrettLGoodrich]

Vote for progressives, spend your money wisely on sustainable goods, try to become independent from the current system in anyway possible such as energy independence through alternative energy.

[@Newton14alan]

Eliminating political lobbying would be a good start. We pay our politicians very well. We need legislation that would prevent any money coming from outside sources while our servants (Ha!) are in Office. Actually, the FIRST thing to do would be to get rid of every single politician that is currently serving in Office. Will we lose a few good people? Yes, but that's just tough. We need a fresh start with eager individuals who are not jaded and corrupt (see the "Five Monkey Experiment"). Oh, and thanks for asking a very good question...Take care and be well, my friend.

[@spearen]

@@Newton14alan Do we pay our politicians "very well"? 400k annually for the president, to run the world's largest superpower? That's less than the CEO of a midsized company.

[@Newton14alan]

@@spearen -- Yeah, but what about all of the perks that go along with the job? First of all, he (or she) is the most powerful person in the world. That, alone, counts for a lot. He (or she) eats the best food in the world, pays no rent or bills, and gets nearly 2 million dollars for his (or her) term. They also have their own private jet on which to travel the world...again, ALL of it for free. In addition, he (or she) can pretty much f#@k anyone that he (or she) chooses, a perk often overlooked. Let's be honest, even if he (or she) is ugly as sin, there won't be too many refusals. Why? `Cause that's a story to tell your friends. And, on top of all that, it would seem that he (or she) can also legally incite an insurrection and get away with murder. Are you joking??

[@jonnymahony9402]

cooperatives 👋

[@jeffherringa4709]

Professor Wolff is talking about a cooperative at the end of the video. Capitalism has a pyramid hierarchy.

[@standinginthegap7118]

Thank you for your hard work Professor Wolff. You are giving us access to education so many have no access to. You have really opened my eyes.

[@giovannigentile7211]

Here in Italy 🇮🇹 the cooperative have been corrupted allowing also cooperative to operate like piramid companies.....

[@Newton14alan]

Jan Niedzielski -- You have to maintain a 7% wage difference in place. The "Head" of the co-op can't make more than 7%, in wages, more than the Others in the company. That eliminates the huge wealth gap. At least that's what I heard. Be well, my friend.

[@DavidCodyPeppers.]

wealth inequality = market share of purchasing power.

[@scar623]

Richard may you please do a history video on Anarcho Syndicalism in 1930 Catalonia Spain?

[@joshpeck9266]

What is that

[@raulventura7295]

Keep up the great work everyone at economic update!

[@brianhutchings3662]

I believe in DR. Wolff 's idealogy , All your knowledge , You are a expert on Capitalism , all it faults .....BUT HOW CAN WEEEE CHANGE IT

[@starboggle]

Beautifully put, Richard Wolff!! Bravo to you for clearly saying this information.

[@KamalElfahssi]

A great talk Professor Wolff.

[@alexgoslar4057]

Get rid of money as being the key determinant of wealth.

[@robertelias9174]

Workers must not only run the enterprise, but also own it.

[@Domi_2204]

Answer: Profit.

[@philipbrown2225]

great talk. I would be curious as to your thoughts on compound interest. That is probably the greatest creator of wealth. Personally I would like to see it done away with. Compound interest allows people to quadruple their money in 20 years for doing absolutely nothing.

[@charliebrandt2263]

I believe that is known as usury.

[@Rodrifuuu]

Another great video. Can we please increase Richard's volume? Or at the very least lower the intro music's volume.

[@csswithsadia8110]

Beside a critical analyst, I love the way you speakkk sir

[@MattyBoy714]

"Why does such inequality persist?" I saw a story about a man in Texas complaining about how he burned through all $16k of his retirement savings paying an electrical bill. Who in their right mind would go along with that!? The US government tells its citizens to jump and we ask "how high?"

[@GilFavor101]

Calling it wealth makes me, and I assume others, not care so much. Calling it "assets" is better, imo. "68 people control more assets than half the world" sounds a lot more like a pressing matter. Edit: "Wealth" sounds more like an abstract concept; where as "assets" sound more like tangible things that people can relate to.

[@scottharding4336]

Don't forget that corporate managers and board members are often directly elected or appointed to high office. Remember the Dulles brothers were on the board of The United Fruit Company as they enacted brutal reactionary policies in Central America. There's also good old Dick Cheney and Halliburton.

[@yttean98]

I contribute to Patreon.

[@yttean98]

Please interview Prof Wolfgang Streeck.

[@whygohome172]

Where do you see this heading for the majority of the working class and OUR KIDS? I guess I will forget about paying back that student loan! I will be dead soon anyway.

[@techloidtech2051]

Well democratizing the work place it's self is easier said than done, seizing the means of production has been then number one priority or socialists forever. I also don't know if it's possible to then not have intense political battles within workplaces with the capitalist monetary system still present. Inevitably we'd see similar tactics deployed against unions to protect the interests of certain people because money is till a thing. All leading back to the same problem. It would have to be something constitutional and regulated to have even a chance, but that will grind up against democratization. To me, the compensation, the money it's self is capitalism. It is the source of the inequality, pretty much by definition. If building a system for humans to survive and thrive, you need to distribute the wealth that the system produces. By saying that we need a meritocracy, you from the start are saying that you are NOT distributing that wealth equally. Eventually through greed and nepotism, that "higher" meritocratic class can pay for political influence, transform their "merit" to society, into a near infinite debt.

[@Anita-md9ze]

Liking, subscribing, commenting so Prof. gets some capitalist dosh!....because his kind deserve it. Thank you for speaking truth.

[@samdeur]

dear Prof Wolff , why don't you share the numbers and the source in the vid description ..

[@susanmercurio1060]

4:30 These figures show why it's a mistake to refer to "the 99%": the second highest income tier owns 50% of the stocks and bonds. What do they have in common with the lowest 25%? They don't want to think that they're anything like us.

[@derekpelotte1378]

Are there any readings about how a collective enterprise can get started? The common criticism is if someone puts up the capital and takes the risk, why shouldn't they be rewarded. I'm Interested in models where the startup is shared and how that gets redistributed as new partners/coworkers come on board

[@coopsnz1]

He a communist wanker , in Australia Government profit $30000 off a new Camaro 2ss sold that before profit share Government takes that not capitalism

[@artrock8175]

Again, thank you for posting such valuable information! The people are looking for solutions after the "leaders" stopped listening to their employers (the MAJORITY of the American people) and bow down to money. I do believe that if enough people hear what it is that you've been saying for years and act on it, real change that benefits EVERYONE cand WILL happen! 🙏

[@paulwellman1030]

Great show. We need Worker Owned Cooperatives using Bitcoin to transact.

[@norberthyla9621]

Anarcho Communist Capitalism

[@paulwellman1030]

@@norberthyla9621 Catchy phrase. WTF does it mean?

[@paulwellman1030]

@Janet Baker It is obvious your belief has no contact with reality. May your ignorance bring the promised bliss!

[@allstarmark12345]

Bitcoin isn’t the solution my friends. Bitcoin is unfortunately a Ponzi scheme. I’d rather deal in digital yuan tbh

[@paulwellman1030]

@@allstarmark12345 Sad to hear you are brainwashed. Bitcoin will prove this.

[@madnezz1961]

and we must include corporate welfare: Stimulus for billionaires, Wall Street, Banks. Subsidies for animal ag, etc

[@Gigika313]

No.

[@thegratefulsteve]

Thanks for calling out animal agriculture. Completely unnecessary, wasteful and built on exploitation and violence.

[@scottluthy5828]

Wouldn't it be fantastic if Richard Wolfe was the American president. If you listen to this human being it is clear he knows how to fix these economic problems we face. America must confront the problem head on and come up with solutions.

[@borninprovidence2965]

The Sanctuary Model of trauma-informed care is an organizational change model that applies the neuroscience of adversity and resilience and offers a toolkit designed to create self-healing communities. At the intersection of generational inequality and mental health, we can come into awareness about what’s needed to bring about real and lasting change; it’s essentially the next evolutionary step. Address the root of the issue. Billionaires are just as wounded as their oppressed counterparts. In a trauma-informed society, rather than seeing ourselves as powerless we come to realize the actions each of us can take to grow into a truly humane society. If we consider what’s required for an individual to experience ‘rock bottom’ and finally decide to enter into recovery, we can understand the parallel systemic process regarding when society will seek change. We may not see a true revolution until the oppressed majority have become so incapacitated, either through homelessness, incarceration, untreated mental illness, uncared for disability, untreated physical illness or some combination of all of the above, that there are no healthy, available, educated people remaining to perform the work for those in power. When we have rendered the majority of society ‘useless’, and have exploited natural resources into extinction, perhaps then, the CEO will see the error of their ways.

[@drinkxyz]

Mike Florio complained on his show a few days ago that the Houston Texans are run like a monarchy and the monarch ran the organization into the ground. If the Texans were run democratically they'd likely be in much better shape.

[@detritiv0re144]

The problem any economic system we can come up with will have is that there will always be that minority of sociopaths who just want to grab what they can and screw the rest of us. We need to be able to recognise this and create systems that can contain and minimise the damage they will inevitably cause.

[@vivalaleta]

Worker owned companies ensure the worst don't rise to the top or at least don't stay there.

[@sauldean6430]

I bet republicans hate this channel.

[@sauldean6430]

@@ct-hv1uz i agree with you, yet, it is just baffling that any little thing that's said about inequality. They yell socialism and people wanting free hand outs, they will give example on countries like Venezuela which is another interesting case if we are to talk about it. I know for a fact that any thriving socialist country that end up failing, is thanks to sanctions or organized war with America being the chief architecture of it, simply because the rich is so scared of socialism so they do all they can to make it look bad

[@matejsebechlebsky12]

Democrats too, I mean the people in the party not voters

[@sauldean6430]

@Janet Baker i don't think you understanding my point here, and i am not disregarding what you saying too, but i do know the only people that are obsess with yelling socialism when it comes to helping is republicans. I am aware of the fact that both republicans and democrats are like 6 and 9 on many things.

[@stevemora7845]

Democratze the enterprize!

[@Gigika313]

Yes! Democratize the Enterprise!

[@Gigika313]

@@ribos2762 you didn’t listen to the video. 68 individuals own half of the wealth of the country...risk? You mean the workers that work in these corporates don’t take any risk? Like when the corporate decisions to leave the county cus labor is cheaper somewhere else and the workers are left with nothing..that type of risk? Who’s taking more “risk” the workers that make everything and have next to nothing or the ceos and share holders who can pick and go anytime there is profit in it for them? Hmm

[@Gigika313]

@@ribos2762 yes pick and start my own business when both gm Ford both make cars overseas now instead of Detroit but you’re right let me start my own, poor ceo of Ford and gm, your logic is priceless you’re arguing for the master..

[@BBBarua]

The U.S can try to slow down socialism, but it is impossible to stop. It will happen sooner or later.

[@susanmercurio1060]

17:23 Thorstein Veblen explains why the system has been set up with master and slave and how it has been perpetuated in his book The Theory of the Leisure Class.

[@janedoe5048]

I came to Democracy At Work because Prof. Wolff seemed like a straight shooter but his constantly repeating the 2% inflation rate is making me doubt he is as straight a shooter as I originally thought. As anyone who buy's the necessities for life, rent, food, water and power, knows 2% is not what we are seeing.

[@Athanael777]

Still very relevant today.

[@Sam-ob4vg]

Since Capitalism produces income inequality, we need socialism or communism to balance it off.

[@Kittiesinclair5]

Yes, u r right, BUT so many ppl are freaked out over what they THINK socialism is, that any mention of a social minded policy or approach will get the mentioner, lynched. I once knew a man on the brink of homelessness. He took advantage of some social programs, etc. but when I said that ppl should help each other and share, etc., he accused me of being a socialist. He had nothing yet he was so brainwashed he chose to accuse me, and thereby reject socialist ideas, rather than admit he was alive because of those types of policies and movements. Ppl do not know what socialism actually is, what it means, and how pervasive social policies and programs actually are in our capitalist society. That is why they hate it, even as most of them benefit from those policies.

[@ivandafoe5451]

@@Kittiesinclair5 The power of propaganda in action.

[@independenthqusa4170]

Good show today Rick. BUT the main problem is greed and corruption and not proper representation in our Republic. The people that make the rules in society is our corrupt elections and the people in power see no need to fix that. Until we can fix this most everything else worthwhile long term is just a wish and a dream. Support a Independent headquarters USA where the single point of organization resistance collectively good Independent candidates from local to Congress and El Presidente we can make the change.

[@williaminus6545]

You leave out 7 simple factors. 1) Profits depend upon exploitation 2) Profits depend on crushing unionization efforts. 3) Capitalists control the police, the state militias used to crush protestors and those who would form a union. 4) The Democrats represent Wall Street and corporations. 5) We have no Labor Party in the US. 6) The constitution was set up to crush the poor and secure the rich. 7) Our culture lies to us constantly about the virtues of capitalism. 7) When you are poor, it is very hard to fight back because you lack the ability to go on a long strike and you know you will be black-listed, beaten up and either jailed or killed if you dare fight back.

[@vivalaleta]

Wolff can't include every fact in every video every time but has gone through your list on many occasions.

[@higherfrequencies6395]

Where did feudalism start ? When ? Thanks

[@kellyhowe5986]

Brilliant.

[@EddieGR1975]

Also, when the Fed keeps creating more dollars it acts as defacto inflation which shifts more wealth towards the already wealthy.

[@ivandafoe5451]

There hasn't been much inflation since the last recession (accept lately in rents and real estate).

[@baileytaylor203]

Hi so I’m just getting into politics and things but I’m already very much a leftist and I love watching your videos bc they help me to understand

[@moranmike36]

Thanks for helping me think! :/

[@standinginthegap7118]

The problem is greed pure and simple. And it's evil

[@notabene7381]

A kapo or prisoner functionary (German: Funktionshäftling) was a prisoner in a Nazi camp who was assigned by the SS guards to supervise forced labor or carry out administrative tasks. Also called "prisoner self-administration" (German: Häftlingsselbstverwaltung), the prisoner functionary system minimized costs by allowing camps to function with fewer SS personnel. The system was designed to turn victim against victim, as the prisoner functionaries were pitted against their fellow prisoners in order to maintain the favor of their SS overseers. If they were derelict, they would be returned to the status of ordinary prisoners and be subject to other kapos. Many prisoner functionaries were recruited from the ranks of violent criminal gangs rather than from the more numerous political, religious, and racial prisoners; such criminal convicts were known for their brutality toward other prisoners. This brutality was tolerated by the SS and was an integral part of the camp system. Prisoner functionaries were spared physical abuse and hard labor, provided they performed their duties to the satisfaction of the SS functionaries. They also had access to certain privileges, such as civilian clothes and a private room. The SS used domination and terror to control the camps' large populations with just a few SS functionaries. The system of prisoner guards was a key instrument of domination, and was commonly called "prisoner self-government" in SS parlance. The camp draconian rules, constant threat of beatings, humiliation, punishment, and the practice of punishing whole groups for the actions of one prisoner were psychological and physical torments on top of the starvation, and physical exhaustion from back-breaking labor. Prisoner guards were used to push other inmates to work harder, saving the need for paid SS supervision. Many kapos felt caught in the middle, being both victims and perpetrators. Though kapos generally had a bad reputation, many suffered guilt about their actions, both at the time and after the war, as revealed in a book about Jewish kapos. Many prisoner functionaries, primarily from the ranks of the "greens" or criminal prisoners, could be quite ruthless in order to justify their privileges, especially when an SS man was around. They also played an active role in the beatings, even killing fellow prisoners. Some guards were personally involved in the mass murder of other prisoners. An eager prisoner functionary could have a camp "career" as an SS favorite and be promoted from Kapo to Oberkapo and eventually to Lagerältester, but he could also just as easily run foul of the SS and be sent to the gas chambers. "The moment he becomes a Kapo, he no longer sleeps with them. He is held accountable for the performance of the work, that they are clean, that the beds are well-built. [...] So, he must drive his men. The moment we become dissatisfied with him, he is no longer Kapo, he's back to sleeping with his men. And he knows that he will be beaten to death by them the first night." - Heinrich Himmler, June 1944

[@abuwarith1]

and who supplies capital to the business and do you think that the owner of the capital is going to give up control of that capital no. what we should be discussing is justice, a just compenation for the capitalist and a just compensation for workers

[@patbranigan6501]

Prof Wolff as many Right wing people are really against Monarchs and you can pitch that can you do a comparison of the distribution of wealth in Monarchies? Not sure if that data is possible to get but it might have more of an effect than just the disparity also tying it to inherited wealth today. Also the way the monarchy came into existence in relation to wealth today.

[@spearen]

So what exactly is being advocated here? Should government be mandating all enterprises be cooperatives?

[@atomiccritter6492]

there needs to be more involvement of the low level worker in all aspects of business - not just "the owner knows best" simply because most people at the "top" inherited that position

[@5508Vanderdekken]

Nothing against Prof. Wolff, but for some reason this works better for me at 1.25x speed

[@richardprofumo7583]

Let’s take the first steep!

[@fisharepeopletoo9653]

There's a video game analogy for inequality. "The top 1% of the top 99% of gamers get to participate in the professional gaming scene. They are getting all the wins, and winning all the money available to win through these competitions. We need to do something about this. We'll break professional players' fingers so we can be more equal." It has become obvious to me that inequality is inevitable. Of course it can be mitigated, using the above analogy you could give handicaps to players who aren't as good as the others. But in the end, this whole notion of everyone is created equal, needs to stop. It's not true. We are not all equal. We should definitely be treated equally, but to say that you can turn anyone into an Einstein, for instance, is obviously wrong. To say you can train a bass singer to sing like Tillian Pearson, is wrong. To say you can teach a person who struggles with numbers to compute like a guy that can do long form mathematics entirely in their head, it's just not true. Some people are just better at some things than others. And of course that means most of us will never be close to the best at anything. There's going to be 10 billion people on Earth soon. We need to get on something intelligent to find this solution, but I think first things first we deal with this equality myth. Quit saying we are all created equal, and start saying we should be treated equally. For instance, criminal fines should be based off wealth percentage. A billionaire should have to pay the same percentage of their wealth on a speeding ticket that a poor person should. This alone should do a lot. Just fixing the inequality in our justice system, one that operates with a heavy bias towards the rich, would be the start I would like to see.

[@MorpheusMind]

Mr. Wolf, The fastest and best way to leave, change or flip the capitalists' systems is for the all humans to learn about and invest in Bitcoin and the crypto ecosystem. Have you read the book "Bitcoin and Black America 2nd Edition" ?

[@jawiroquai]

RATM: wake up!!!

[@davidevans6618]

When economics is applied to human beings, meaning money as a necessity of survival for rich and poor alike, the money is the boss of both. Money always need more. This can never be balanced because the concept of money in itself isn't an apparatus that creates balance. Trying to make something do what it was never designed to do, is a waste of effort. Squirrels don't pay rent and the experts are baffled. You wanna create balance, get rid of the imbalance by abandoning the money God, and get real, like every other species on the planet.

[@gogreen1908]

Maybe Dr. Wolff can tell us one time how much of the stocks are owned by pension funds.

[@kpars7041]

Probably because that's only 30% of the whole stock market and besides that, the median value of a 401k for people 65+ is just under 60k which is little more than a rounding error considering the amount of money in the stock market. But hey, if they see 10% growth they might be able pay for 4 months rent!

[@BmoreAkuma]

And for some reason, these same well off billionaires and multi millionaires have the gall to tell people YoU hAvE tO wOrK hArD lIkE mE With our peanuts that you're paying us?

[@atomiccritter6492]

and they dont particularly do any work

[@TheCasheba]

Mr. Wolff, The Egyptians did not use slaves to build the pyramids. That is only a biblical myth. I do admire your work anyway.

[@psikeyhackr6914]

Adam Smith wrote about education in Wealth of Nations. "the most essential parts of education, however, to read, write, and account, can be acquired at so early a period of life..." www.victorianweb.org/economics/smith2.html The US could have made double-entry accounting mandatory in schools since Sputnik! Notice that we don't have socialist or capitalist economists advocate such education.

[@terripebsworth9623]

Why socialism ALWAYS leads to communism which ALWAYS leads to abject misery for all and mass death, but never ever anything remotely resembling a utopia. Happens every single time. History matters. I'd much prefer to live in a system where I have self-determination and the right to fail. Capitalism simply refers to the exchange of goods and services with a value determined by market demand. Giving people equity without requiring production is a disaster every time. No such thing as a free lunch.

[@cocofirst3967]

How is socialism leads to communism. Has UK become communism?

[@williamshafer3199]

i gotta stop responding to idiots; your bully mates systemically steal lunches in the playground

[@cocofirst3967]

@@williamshafer3199 That's right. When one is aware of being an idiot, that is where they should stop.

[@nachannachle2706]

Let's be honest. If most lower classes Americans weren't so gun-ho about fighting anyone and everyone around them, they would have figured out how to make progress by themselves and for their peers. You don't need "socialism" at State or Federal level to bring change. You only need to take "socialist" steps within your family and community to make a difference. Don't wait for "government" to do stuff for you. Do for others what you would like to be done for you. Time to drop the slave mindset that is pervasive across Americans and reclaim generosity as a way of life. Good luck.

[@JoaoMariaNunes]

Minimum wage should be directly linked to a country's inflation...

[@jamesmorton7881]

The History of Inome distribution has ALWAYS been POLITICAL. follow the money . . . . . neo-liberal oligarchs self interest trumps . . . ALL

[@monikakonrad2951]

As long as the American society worships Mamon it will take a century to realise your idea of a new economy.

[@patbranigan6501]

Actually they stop redistribution from the rich to the poor, but not from the middle class to the poor.

[@Gigika313]

What middle class?

[@davidpeppers551]

@Janet Baker How do they get out of sales tax? Lots of states tax food. Gas tax? The poor do pay tax. Many regressive taxes.

[@atomiccritter6492]

the middle class is effectively NOT the 1%

[@ericchristianson4955]

Dr.Wolff, I really enjoy watching and listening to your programs. I was just wondering how much input your cleaning person has on your books and I am curious to know if he/she is asked for approval of your videos before they come out.?

[@lostgleammedia]

The thing is, if the rich made the peoples lives without stress. These people would not care about income inequality... If people didn’t have to worry about loosing everything if they have ill health or what ever really; they would not care about an elite.

[@paulomiguel6484]

At the top there is the alien, yes once upon a time there was the alien and the alien at the top said, "all your bases belong to us and your sons and daughters too, those at the bottom will slave ever more so than those here just so slightly close to us, those of you here closer will be our guys and you will make sure those at the bottom slave for us and we shall make emperors and kings of those of you who will best serve our interests". So once there was the alien and the alien is boss, for the word of the alien is all you need to know, "now bow and serve" the alien said. The big elephant in the room blinks once, blinks twice, " You know what got you here right ? organized religion got you here, you know that right ? until you understand how you became a slave the road ahead is veiled still..." The elephant blinks once and twice, thricely the eleplant blinks again for good measure.

[@williamshafer3199]

love your analogy :) John Lennon paraphrased much of what you say in his song "Working Class Hero"

[@flaron352]

Elimination of money is the only answer. Renew ones mine. There currently is no money anyway, there's just debt instruments and futures contracts. If you have money All so called "money" income should be put into one pot and people regardless of their income can use whatever they want. Problem is certain minority want to be in control and think they know best.

[@uncannyvalley2350]

America is not a democracy, never was. A Nation's future should never hinge on the proclivities of any single person, voters on both sides are exactly the same whenever someone challenges their beliefs, and both accuse anyone who doesn't agree with their assigned talking points of supporting the other party. Thus the supporters of both parties have hijacked and sold out the rest of humanity for the sake of their own egos and lack of imagination And this is how they've controlled us from the dawn of the 20th Century, where they pit us against each other, seed the debate with misinformation, some populism, and some catchy epithets, and continue to go about their plunder unopposed. All representatives will always be subject to influence from moneyed interests, blackmail, or assassination. The solution is a *Velvet Revolution* to install a *Scaled Direct Democracy* without representatives or politicians. Citizens initiated referendums with thresholds and a social contract using blockchain technology means communities can vote their own policies without politicians. With a vote for, against, and the option to redraft or veto, with the relative proportional thresholds. *Thorium Energy renders their global oil monopoly obsolete.* *#VelvetRevolution* *#ScaledDirectDemocracy* *#ThoriumEnergy* Thorium energy can process both nuclear and toxic waste, as well as make salt water desalination and carbon sequestration economically viable. It can also power synthetic fuel manufacture, and electric power for all forms of transport. Thorium reactors cannot be weaponized, are walk away safe, produce grams of waste to the tonne of conventional plants, and are low level radioactive for 300 years vs highly radioactive for 25,000. A person's lifetime of energy from thorium would cost less than $100. It also produces the world's best known cancer treatment when 1/2 adult in the western world will contract it. "The thorium molten salt power plant can produce clean energy cheaper than coal, which could be a reliable energy system toward a low carbon economy" PAL said. www.reuters.com/article/us-indonesia-nuclearpower-idUSKCN1UD0D0 If the profits from American labour were shared equally as they are with corporate shareholders, every household would receive $700k annually. If we got even a fraction of that we would have more than enough to fund education, healthcare and infrastructure for everybody. 52% of all greenhouse gases come from methane produced by Beef farming, which is currently 90% subsidized. Ending Beef Communism and embracing Hemp and Kelp farming as Moonshot technologies for use in packaging, construction, manufacturing, medicines, insulation, and clothing could alleviate the worst of climate change, sequester carbon, revitalize crop land and restore depleted habitats. It would also be conducive to have an independent public authority drawing from volunteers to act as third party advocates for the public interest, with the authority to charge and prosecute bad actors and cops in our own courts. This would ensure both Government and Law Enforcement are held to the highest standards of etiquette, ethical conduct, and equality of outcome regardless of Creed Color, or Economic bracket. Finally a National Digital Forum that allows for open sourced debate is essential for fascilatating Direct Democracy, and addressing the issues America does not want to face, from systemic racism, to ethnic cleansing as foriegn policy. If these things can't be discussed with frank honesty, civil moderation, without religious protections, and without the generic knee jerk reactionary bs, there is literally no hope for the West, as we will die by our own prejudices and cowardice. And of course Reparations, and indigenous sovereignty, if we claim to stand for anything right and true, reparations have to be a part of that picture, and no one is better suited to protect our natural environment, than the people who were already here when we arrived. qz.com/1032154/america-is-not-a-true-democracy-but-it-could-be-with-the-help-of-technology/

[@biscuit2075]

No matter how painful for some ,the only answer is a hard rest. Make all money worthless then issue a new currency evenly and disallow the trading of the old currency to the new. And make all industry publicly owned by the inhabitants of the territory it inhabits only .

[@vibhuvikramaditya4576]

This predates feudalism. The advent of agriculture and farming caused surpluses which created hierarchies that decided where and whom to distribute otherwise collective efforts, capitalism is at least certainly more fair than feudalism and earlier economic systems, his claim there could not be more starling fails in the face of history, At a point in time, Akbar the ruler of india, owned more than 98% of the world. Capitalism may not be fair morally but its the most efficient system mankind has ever know, And socialism hasn’t and won’t ever work until the human race evolves into something better than we are now, if we become the epitome of productive saints who are all compassionate in their hearts as well as gladiators in our own arena of social warfare of competition, then socialism can work, but at least I don’t see that coming now

[@DC-wg1cr]

I think that's just 8 elites now, not 68.

[@AudioPervert1]

Least he can do, is called it "Late Capitalism" - As is, these discourses produce little to zero effect about the subjects being spoken. Such verbiage is a business on KZbin after all... Late Capitalism itself is KZbin.

[@mrmoneyhacks5480]

So I work 80 hours a week to keep my business above water, and now I have to give ownership of it to the 3 young employees who never get off their damn phones? This is your best plan, after all these decades of study??

[@tadsklallamn8v]

Capitalism is slavery. American Socialist and Black revolutionary WEB Dubois recognized slavery as proletarian exploitation to it's fullest logical conclusion, and this analysis explains the prison industrial complex

[@mauibill7233]

As of today, 26 capitalists didn't like this segment. Boo hoo.

[@spencerharold6973]

Did Henry Ford extract most of the value he created? Or did he pass it on in the form of an incredibly affordable vehicle decades ahead of other manufactures in terms of value given to the most people? I would argue he raised the living standard of the entire nation far more than he diminished it by filling his personal bank account and indulging in extravagant luxuries. The same argument could be made for Google, Tesla, Amazon and more from today. What do you say Mr. Wolff?

[@spencerharold6973]

If answered I will donate $20 to your Patreon -I am only 26 and still poor.

[@atomiccritter6492]

When Amazon as a company avoids paying taxes in various countries I would say its NOT a healthy business model. Plus factor in poor treatment of their employees...so nah Amazon are not a good role model

[@spencerharold6973]

@@atomiccritter6492 Not the argument I was making at all. But thank you for the reply

[@ivandafoe5451]

@@spencerharold6973 Sure seemed like the (unsupported) argument you were making to me.