According to the New York Times, the S&P 500 climbed to a record yesterday, reaching a level few would have predicted a few months ago, and defying the economic storm facing the United States. Professor Wolff joins Julianna Forlano on act.tv to talk about how the high comes at a huge price, further increasing economic inequality in our Nation, and how billionaires have many EXTRA billions since the COVID-19 pandemic lockdown started in March.
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Subject: What is in store for the future of the world?
Dr. Richard Wolff,
I was looking in my library for something to read and this book (see reference above) nearly fell into my hands. This was 2 o’clock in the morning and I was not in a sleep mode.
Even though this book was published in 1974, the book describes what the world is in for today, and the future of society that will not get back as we once were. As you point out in your essays and video presentations, society is breaking down, the social fabric is deteriorating around the globe, and our own presidential election has become a farce from Washington. The United States will never be the same again, and for the world society too.
Capitalism is almost dead for the rich 1%, and not functioning for the other 99% who will work at anything or for anybody at a wage/hours/benefits that the employer chooses. The money supply is for the rich who keeps it and plays the stock market like a game of chance.
If you have the opportunity, I suggest you read each chapter about the flood of Filth, economic confusion, the drastic weather changes, earthquakes, etc. To read this old book you immediately think the author is describing 2020 and our future, the sin of our young people.
What is in store for the future of the world? No one knows for sure, but your commentaries and this book help us see the future and it is not bright.