Economic Update: The Pandemic's Lesson About Capitalism

[S10 E25] New

On this week's show, Prof. Wolff argues that preparing and coping with the Corona pandemic was inadequate...READ MORE

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  • Pasqual DiGesu
    commented 2020-07-10 14:02:10 -0400
    Unlike the fanatical religious driven parts of our globe or the socialist driven parts of our globe, we are the profit driven or profit worshippers of our globe and it will continue to blind our ambitions just like heroin. As for Security, I am afraid it is also profit driven, having worked for the defense industry my whole life in quality and contracting. We have created a new kind of “supply and demand”, we create the demand behind closed doors and politics and contract agreements, and then we force the supply through our monopolized providers and financial kingpins. The cost of 1 of our top stealth aircraft for war is 125 million dollars, and although we pay for it like it or not, it also protects the interest and survival of the industrial powers who charge us. Like the feudal castle which we are forced to use and accept because of the same feudal lords wars brought upon us. Eisenhower did not use his last effort in office and go out of his way to warn us of this industrial complex for no reason. We also fight to sell our weapons to other nations and sabotage yet other nations who would compete with us. Some of our top customers like Israel and Saudi A. will then buy our weapons using the same tax money we give them in support (bribery), and pay it back to our industries thereby successfully laundering our money back into the hands of selective America ,,,,,, “because it is all a necessary good”. This and much else is delineated in the book “Reflection” by John Guzziferno.
  • Steven Fingerhut
    commented 2020-07-01 12:28:18 -0400
    A more general comment: today the Washington Post reports lower worker salaries, exactly as you predicted . Both parties battling over everything except Crony Capitalism, again , as you predicted . This is what Buddhist call Yin and Yang but without nature, just a bankrupted conomic system . Well done Professor. Stay healthy, we need you.