Dialogue Works: Global Economy's Momentous Shift and Monumental Inequality

Prof Wolff, Michael Hudson join Dialogue Works to discuss economic challenges faced by countries like Argentina due to high levels of debt and inflation. The conversation delves into global movements advocating for debt forgiveness, emphasizing the potential impact on politics and economics. The speakers question the widely held perception of capitalism as the most effective system, attributing it to the ideological dominance established by the United States as a global empire. They discuss the evolution of capitalism, noting a shift towards finance capitalism or neo-feudalism and drawing a comparison between the economic approaches of the US and China. The critique extends to the lack of democracy within workplaces under capitalism, highlighting contradictions between employment structures and societal ideals of democracy. Additionally, the rise of the professional managerial class and the potential challenges posed by automatic intelligence are explored.

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