Current Events > Economics professor explains how capitalism works and why it is theft

(+) Yeah! (+)

Don't need to watch whole video, I set a timestamp. You might want to anyways though.

https://www.youtube.com/watch?v=2L33Hhs0zv8&t=1762s

https://ih1.redbubble.net/image.1018990965.3083/flat,750x,075,f-pad,750x1000,f8f8f8.jpg

dude upload your image I am not clicking that

WingsOfGood posted...

dude upload your image I am not clicking that

https://gamefaqs.gamespot.com/a/user_image/2/5/4/AABGtnAAC4JO.jpg

Timestamped where he discusses how acutal wages decrease while productivity still gone up which happened around 1970

VERY INTERESTING

https://youtu.be/2L33Hhs0zv8?t=3171

Richard David Wolff (born April 1, 1942) is an American Marxian economist,

lulz

Squall28 posted...

lulz

So now Economists are bad?

Also here he addressed your attitude at this timestamp:
https://youtu.be/2L33Hhs0zv8?t=3022

Squall28 posted...

lulz

Truly a stunning rebuke

Richard Wolf debated Destiny and it was funny.

oh shit!

https://twitter.com/profwolff/status/1488565310357606402?cxt=HHwWhMCszeqQuagpAAAA

WingsOfGood posted...

So now Economists are bad?

You sound like the antivaxxers when they found Robert Malone.

Squall28 posted...

You sound like the antivaxxers when they found Robert Malone.

So what did he say that you found fault in?

If you want to go this direction, what Robert Malone says that is problematic is very easily identified.

Let us see how well your comparison is.
Go ahead, explain.

https://gamefaqs.gamespot.com/a/user_image/5/3/8/AAefUOAAC4Nq.jpg

WilliamPorygon posted...

https://gamefaqs.gamespot.com/a/user_image/2/5/4/AABGtnAAC4JO.jpg

Karl Marx was a filthy racist. Cancel Marxism!

Paragon21XX posted...

Karl Marx was a filthy racist. Cancel Marxism!

Cue conservatives identifying as Marxists in 3, 2, 1...

He also explains why conservatives despite being dirt poor often subscribe to Capitalism and the greatest country bullshit.

It turns out the USA did very well until the 1970s and they said it was God blessing USA for being the apple of his eye.

So, if you now point out that infact we know why it did well then, it wasn't God but just how exploitation works and that it isn't doing so well now, they take offence to it because their worldview goes down the drain that God is specially blessing USA as the greatest country to ever exist.
As you can imagine, this mindset it ripe to prop up a fascist dictator who says it is not the system's fault but rather certain people who have brought everyone down, and they will fix the economic woes, by punishing those people.

I'll check it out later

I like Richard Wolff. I just wish he'd stay in his lane of expertise, his comments about vaccine mandates were dumb

Gwynevere posted...

I like Richard Wolff. I just wish he'd stay in his lane of expertise, his comments about vaccine mandates were dumb

What did he say?

If he said we should mandate vaccines, that would be funny because the best thing for Capitalism would have been to mandate vaccines.
Since we did not, there is still a looming threat to halt labor lmao

WingsOfGood posted...

So what did he say that you found fault in?

If you want to go this direction, what Robert Malone says that is problematic is very easily identified.

Let us see how well your comparison is.
Go ahead, explain.

I wanna see this @Squall28

Can someone transcribe that part.

BlackOmnimon posted...

Can someone transcribe that part.

what part?

The op is him saying you will never get a job to be paid what you are worth and if you think you do or will, you don't understand how Capitalism works.

Captialism as he explains is when you as the workers provide a surplus of value, the employer takes most of it and lets you have a tiny fraction back.

He also then explains why the above surplus going to someone else than the person who produced it is akin to slavery and feudalism, but it is not called slavery, it is changed form of it. No more slave or serf, but one part of the population still lives off what another person produces.
This causes a tension and resentment between those who produce more than they get and those who live off those who produce.
The interest of the capital owner is to get as much from them as they can and give back as little as possible. The producer interest is to get as much as they can from what they produce.
This makes them at odds naturally. Enemies.

WingsOfGood posted...

What did he say?

https://twitter.com/profwolff/status/1455206129424867334?t= AqDUoLPv9I2gkd5BrXB7kw&s=19

I think framing opposition of mandates as a labor movement is just not a smart thing to do, since the unchecked spread of the virus made things much worse for workers until the great resignation started

Gwynevere posted...

https://twitter.com/profwolff/status/1455206129424867334?t= AqDUoLPv9I2gkd5BrXB7kw&s=19

I think framing opposition of mandates as a labor movement is just not a smart thing to do, since the unchecked spread of the virus made things much worse for workers until the great resignation started

Ah I see. Easy to not get what he is saying.

But what he seems to be suggesting is that employers forcing workers to do something could be framed as a worker movement. But yea, not a good time to say this.

Im not clicking Communist ramblings as a principle.

DarthWendy posted...

Im not clicking Communist ramblings as a principle.

@DarthWendy what is the principle?

How much should someone get for walking dogs 5 days a week, for a 2 hours a day? This being their only income source btw

NightMarishPie posted...

Richard Wolf debated Destiny and it was funny.

I saw that debate.

Wolff really came off looking like an absolute joke.

SweetieBeIle462 posted...

How much should someone get for walking dogs 5 days a week, for a 2 hours a day? This being their only income source btw

Pretty sure the reddit mod said they worked 30 hours a week.

SweetieBeIle462 posted...

How much should someone get for walking dogs 5 days a week, for a 2 hours a day? This being their only income source btw

the amount that they should get is:
(number of dogs they're walking)(number of hours they're walking those dogs)(amount that they charge per dog per hour)

WingsOfGood posted...

Pretty sure the reddit mod said they worked 30 hours a week.

He said 20 in the interview, but said on their reddit that he walks dogs 2 hours a day, 5 days a week.

2 5 is
...10

So it the question what the dog walker should make under Capitalism or under Socialism?

And in any case, the dog walker is self-employed means they keep all the value they produce so....

Richard David Wolff (born April 1, 1942) is an American Marxian economist

lmaoooooo

Gobstoppers12 posted...

Richard David Wolff (born April 1, 1942) is an American Marxian economist

lmaoooooo

Gobstoppers shitposting must be a day ending in y

WingsOfGood posted...

@DarthWendy what is the principle?

That she has no argument. DW is a Le Pen shill.

Squall28 posted...

lulz

Marxian economist sounds like an oxymoron

WorsCaseOntario posted...

Marxian economist sounds like an oxymoron

How so?
He identifies as a Marxist but he is WAY MORE than qualified by the most prestigious honors and schools to teach Economics and indeed has done so.

Apparently an economist is invalid unless he shills Capitalism?
Would this mean a Capitlaist cannot understand or teach about Socialism?

Gobstoppers12 posted...

Richard David Wolff (born April 1, 1942) is an American Marxian economist

lmaoooooo

idgi, what's funny

WingsOfGood posted...

Ah I see. Easy to not get what he is saying.

No, I get what he's saying. I just disagree with it. But that's not really the point of this topic, I can disagree with him on some stuff but like I said, I like the dude overall.

You should check out some of his appearances on the Thom Hartmann program, pretty interesting talks there

Guide posted...

idgi, what's funny

They are too lazy to come up with arguments but are so biased they cannot even listen to what is being said.
There is a word I might use but it would get me moderated.
Let us just say, they are finding thinking for themselves difficult.

Gwynevere posted...

No, I get what he's saying. I just disagree with it. But that's not really the point of this topic, I can disagree with him on some stuff but like I said, I like the dude overall.

You should check out some of his appearances on the Thom Hartmann program, pretty interesting talks there

I am not saying that you did not, I am saying that the way he said that is easily misunderstood which makes what he said not so great to say.

WorsCaseOntario posted...

Marxian economist sounds like an oxymoron

You are confusing "economist" with "capitalist." Whether or not you view a Marxian as particularly right about anything they very clearly are doing everything under the guise of talking about the economy. Inversely the entire point of Marx's statements were largely to chuck away capitalism, so unless you're talking about stuff like the CCP capitalism will not apply to communists and if anything is an antithesis to most everything that is desired under communism.

ellis123 posted...

You are confusing "economist" with "capitalist."

It is like Economist is something they don't quite understand.

I wonder if these are the same people who think colleges are hotbeds for Socialism Liberal recruiting.

But then they will later act like Economists are gods infallible when it comes to exploitation like the GME thing and such.

Imagine being that loyal to people who see you as nothing more that property to be wrung out dry for them to increase their own wealth....

WingsOfGood posted...

I am not saying that you did not, I am saying that the way he said that is easily misunderstood which makes what he said not so great to say.

I don't think other people's misunderstanding of what he says should have any bearing on whether or not it was a good thing to say

averagejoel posted...

I don't think other people's misunderstanding of what he says should have any bearing on whether or not it was a good thing to say

If people think he is siding with crazy anti-vaxxers, he destroys the credibility of the other things he says.
There was little to gain with framing that as workers taking back their rights as well.
So I disagree.

WingsOfGood posted...

@DarthWendy what is the principle?

Never to click Communist ramblings.

Guide posted...

idgi, what's funny

Coupled with the title of the topic ("Economics professor explains how capitalism works and why it is theft") it's just pretty funny. I don't know if I can explain it and do it justice, but it hits right in the funny bone.

WingsOfGood posted...

If people think he is siding with crazy anti-vaxxers, he destroys the credibility of the other things he says.

no it doesn't. if people think he is siding with anti-vaxxers, they are incorrect. that has no effect on his credibility

Oh yeah, Richard Wolff is the guy trying to argue that, if you want a PS5 in the worker co-op system he envisions, you would have to convince your coworkers to vote for you to be able to get one.