Tuesday, June 7, 2016

Marxism 101: How Capitalism is Killing Itself with Dr. Richard Wolff

A superb interview of Dr Richard Wolff by Abby Martin. Richard Wolff explains the contradictions in capitalism and why it doesn't work, well never for anyway long until the next crisis occurs, and how it is now reaching the end of its life. Capitalism worked a bit in the past because it got its resources from the third world dirt cheap turning the populations that lived there into slaves.

Many lucky workers in the West, the ones that had good jobs, said capitalism was great and supported the Conservatives, the party of the imperialists, the aristocracy. Many of these people said that they had earned their wages because they had worked hard, or had studied hard at school and universities to get good grades, and most of these people do work very hard indeed (being exploited by the One Percent). But they didn't realize how poor people in the third world were the real slaves driving capitalism along making it appear to work. And some people didn't care anyway about the exploitation because they were, 'I'm alright jack', right wing neo-fascists.

Bernie Sanders has been able to make socialism appeal to lots of Americans because the wheels have fallen off capitalism yet again. And the only way capitalism can survive is by increasing militarism around the third world to keep the local populations down. And when theses people rise against injustice the West calls it communism, which Western propaganda says is evil.

At the turn of the century Russia was the poorest country in Europe and then it lost in the First Wold War, had a communist revolution, and a civil war, and then went on to be devastated in the Second World War, but it still manged to become the world's second super power in only 50 years. It was a brutal system for sure, but the nation was traumatized as Western leaders in the past had always tried to bring the country down and to get rid of the Tsar so they could loot its natural resources, as they had done to India, Africa, and China to a fair degree. The Russians were dead scared of the Western imperialists and made their country strong in a very short space of time, and the same type of desperate economic expansion went on in China too under communism, as Richard Wolff explains.

In communism there were many mistakes,  like how  in capitalism there were many mistakes too. So they tweak to the systems to improve them. Eventually both systems, capitalism and communism, will merge into one to become socialism, the only capitalist system that can work, because it is moderate and gives the majority of the people the best deal. The ruling class don't want it so they fund a massive propaganda campaign against it.  As well as fuel wars all over the World to keep the their crumbling system afloat.

The US had it easy after the Second World War, because with Europe in ruins, and with no destruction of its own country or to its infrastructure, it could take what was left of the old British Empire and set the terms to suite itself in Europe. With the third world being ruthlessly exploited for its resources by Western, mainly US imperialists, and with Europe wrecked needing to be rebuilt, the US's economy could shoot off with it's industries producing the goods that Europe badly needed. It made capitalism look as if it worked.

Richard wolff explains why the wheels have come off capitalism, yet again, and how it is now on its last legs. The capitalists, being too greedy, have destroyed their markets. But they will try to revive it again with even more brutality and militarism.

The ruling class spent a fortune on neoclassical economics and their universities to hoodwink ordinary people into believing that their type of capitalism, which is now called neoliberalism, works. This is how much power they have, that most mainstream economists now spread their propaganda for them.  And they control the media too to further spread their propaganda. They even fund the Tea Party and libertarian groups, and pay for Ayn Rand books to be distributed, often freely, in universities, like the way The Gideons pay for a New testament to be put into every hotel room.

The world is crying out for a charge. Too many people have died because of capitalism, or had their lives ruined.

Marxism 101: How Capitalism is Killing Itself with Dr. Richard Wolff 


How Class Works -- by Richard Wolff

A short cartoon about the failure of capitalism. 


How having too low a minimum wage destroys jobs and ruins the economy. In other words, pure free markets forces don't work.



Andrew Anderson said...

In other words, pure free markets forces don't work. Kaivey

Can we say that pure free markets have even been tried given that our money and credit system forces the poor, the least so-called creditworthy, to lend to the rich, the most so-called creditworthy? And has done so for centuries?

I believe in as much government-provided welfare as is needed but when are we ever going to abolish welfare for the banks and the rich? Since that's how they impoverish the rest of us?

Philippe said...

what andrew is trying to say is he thinks that inflation makes poor people poorer and rich people richer.

which is quite silly.

Andrew Anderson said...

what andrew is trying to say is he thinks that inflation makes poor people poorer and rich people richer. Philippe

I have NO problem with purchasing power creation.

But we should insist that it be done ethically otherwise it is a looting mechanism; eg. workers have been disemployed with automation financed with their own legally stolen purchasing power.

Andrew Anderson said...
This comment has been removed by the author.
Andrew Anderson said...

what andrew is trying to say is he thinks that inflation makes poor people poorer and rich people richer. Phillipe

And besides I wasn't even talking about purchasing power creation but that the poor are forced* to keep deposits in private depository institutions since individual citizens are not allowed accounts at the central bank. But a deposit is legally a loan so the poor are forced to lend to the banks and thereby lower the borrowing costs of the rich, the most so-called creditworthy.

*or else be limited to unsafe, inconvenient physical fiat, notes and coins.

Philippe said...

You really are very confused.