Can Professor Wolff respond with a socialist solution to Rana Foroohar's book, Makers and Takers?

Rana Foroohar describes in her book, Makers and Takers, how finance has gutted American manufacturing, innnovation, and the workplace. What is the socialist solution to the problem? A truly national banking system?

Official response from submitted

There is a very old tradition of commentators responding to a period of serious crisis in the capitalist system (such as the end of the 19th century or the 1930s, etc.) by focusing on criticism of one or another part of the system rather than the system itself. Thus it is the government or it is finance or its is big business or it is monopoliesĀ rather than the system that is the problem. By system I mean the basic way production of goods and services is organized - the employer-employee model, say, versus an alternative system such as the worker coop model. The system is the last thing to be criticized by such folks as prefer to find a part wanting rather than the basic system wanting. Foroohar is in that old tradition in her new book. Socialist solutions would precisesly change the basic system from capitalist to something else rather than change mere parts....and nowadays socialists would add about changing just parts: society has been there and done that and it does not suffice.


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  • Richard Wolff
    responded with submitted 2017-03-31 09:22:03 -0400
  • Heidi Schultz
    posted about this on Facebook 2017-03-29 13:57:55 -0400
    Ask Prof. Wolff: Can Professor Wolff respond with a socialist solution to Rana Foroohar's book, Makers and Takers?
  • Heidi Schultz
    published this page in Ask Prof. Wolff 2017-03-29 13:57:26 -0400

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