Capitalism Is the Problem


This article originally appeared at 

Over the last century, capitalism has repeatedly revealed its worst tendencies: instability and inequality. Instances of instability include the Great Depression (1929-1941) and the Great Recession since 2008, plus eleven "downturns" in the US between those two global collapses. Each time, millions lost jobs, misery soared, poverty worsened and massive resources were wasted. Leaders promised...READ MORE

Showing 2 reactions

Please check your e-mail for a link to activate your account.
  • Herbert Davis
    commented 2017-01-10 10:25:19 -0500
  • Dan Va
    commented 2017-01-08 21:32:55 -0500
    Seems to me that the Closed Corporation is essentially what Dr. Wolff considers a worker co-op. It is a capitalist enabled entity that can be; for profit; or, not for profit. Closed Corporations are usually regulated by state law. They are limited to the number of members (around 30) and they are limited as to how much capital they can have (around 1-10 $million). They are flexibly self directed as established by their charters. They can distribute their income as they see fit.
    Isn’t a Wolffian Worker Co-op about the same as a closed corporation with a view of self provisioning for a long term? What happens if several members have catastrophic industrial accidents or illnesses? What happens if the land they occupy becomes unlivable due to environmental problems; or their water supply evaporates? What happens if several families within the Co-op begin to grow in number beyond the ability of the other members to support?
    After the Keynesian public works post 1930s Depression; The US is a worker co-op. It’s just a matter of some of the workers now playing a prejudiced triumphalistic game regarding who governs it. This is a tragic loss for the entire country. The price to be paid will be the loss in value of the dollar.
    Dr. Wolff is to be applauded. Yet he would do well to consult a business lawyer that plays chess. His strategic focus might get a proper tuning.