Economic Update: Twin Upsurges - Unionizing and Left Politics

[S12 E28] New

In this week's show, Prof Wolff discusses the unionization efforts by post-doc medical researchers vote union, central bankers mislead on inflation, rising economic footprint and power of...READ MORE

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  • Pasqual DiGesu
    commented 2022-07-27 13:42:50 -0400
    A distinction has been drawn between the definition of Capitalism and Feudalism, One being made of private owned corporate states which work for profit and the other a socialist economic state which is owned by land barons and kings. What I see is not so much a distinction but a greater statistic of similarities which are shared by both systems as would be perceived by the majority of the working class. What is common is that both systems have enriched themselves on the efforts of the common laborer. No one individual has ever attained enormous wealth in a world of “a population of one”, comprising only of themselves and within a period of only one lifetime. Great wealth is usually founded on the labor and efforts of many whose efforts and achievements are owned and controlled by one. Very few individuals in history had the individual graces to establish the “collective power or influence” of what we measure today in the strength of billionaires. No one individual has the physical or mental ability or offers such enormous value singularly within any market to accumulate such dominance and command, (command in the way of admiration and genius versus only finance and wealth) over others. Only through the invention of currency or cash has this been made possible. If an individual can create, multiply, steal, manipulate, direct, invest, accumulate, and control currency, this individual could control and dominate society. This individual or entity of individuals could be completely ignorant or void of necessary skills or professions required of daily survival in the natural world, but could command those who have and can provide them. Let us contemplate for a moment that Power, can be attained by only knowing how to control, direct and accumulate printed papyrus notes.