Economic Update: The Socialism Issue

[S12 E04] New

On this week's show, Prof. Wolff talks about the recreation of `company towns' (eg., Kalamazoo, MI) by the richest US capitalists, Biden and the reality of US jobs lost, how and why the US...READ MORE

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  • Anonymous
    commented 2023-05-31 17:45:24 -0400
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  • Pasqual DiGesu
    commented 2022-02-09 09:54:25 -0500
    A breakthrough lecture professor, it seems that the deeper our understanding of history, natural forces and their ultimate direction, the narrower and more parallel and closer our thoughts become. Yes, there are different forms of socialism, and some control industry and run them completely, some allow their operations to be privately managed with caveats, and some do both. In certain authoritarian governments which allowed corporatism, the only industries that were outright state controlled were the ones considered priority in the interest of national security which included oil or energy, and transportation. (Hugo Chavez did just that when he threw our oil companies out successfully and as Mossadegh tried in Iran but failed) Others which included certain defense companies, food, education etc. were closely monitored while funded. Today china’s success is based on this control of capitalist powers; our down trend is from our reversal of this policy, I witnessed this change throughout my own career involving state and industry. As for a nation of coop businesses, you still require a central government’s blessing like in Emilia Romagna where you’re allowed to pool your 2 year unemployment checks with 9 others to start a business partnership. It was made possible by government legislation and organization, like minimum wage and OSHA. As for coop businesses that fall in the above national security risk, they too must be controlled or regulated and monitored by honest government. As long as human beings are involved, greed is still a factor in any form of business structure, caveat emptor.
    As for china’s success, this socialist government is also striving for power as did others in the last century by maximizing economic power. But recognizing the reality of the natural forces at work today in our changing ecology as reflected by your past guest Fabian Scheidler whose awareness is similar to Peter Russel, our future cannot be planned anymore around simple economic growth goals, but (generally speaking) an economy that will decrease manufacturing and its consumption of required natural resources starting with many unnecessary and illogical toys for grownups (comforts, desires, lifestyles etc.) “So, how do you go back to the farm once you’ve seen Paree?” you have no choice if you want to be part of the future, and it will take a central government to lead us for the same 2 reason, our inability and because there is always some form of it in control.
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