Give Them An Argument w/Ben Burgis interviews Richard Wolff, focusing on his new book "Understanding Capitalism." Wolff discusses capitalism, monopolies, and myths surrounding the economic system. He delves into the misconception that monopolies are the root of the issues within capitalism, explaining that while addressing monopolies is important, it does not fundamentally change the employer-employee relationship at the core of capitalism. He highlights the aspirations of many to become their own bosses as a form of subconscious critique of the current system. The interview touches on the evolving nature of capitalism and the need to consider what comes next in economic systems. Wolff also reflects on the legacy of Michael Brooks and shares insights on collaborative projects that were planned before Brooks' passing.
Understanding Capitalism w/Richard Wolff
August 07, 2024
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This is the formal definition of capitalism. What is now clear is that the last part of this definition is inaccurate and has been throughout its history. It does not serve the best interests of society, “society as a whole”, but the individuals within that freely control it. In regards to the “whole of society”, it is uncontrolled capitalism. Capitalism is a natural human thrive and part of human nature, in which to some degree we all experience and practice regardless our professions, as we all seek money in ways to manage its increase, survival in a non communist existence [one that has never existed despite its claim]. Recent history shows that in a system of “Uncontrolled Capitalism”, most american retailers from sellers of various goods to restaurants have increased their prices by an average of 40% despite no material shortages in the name of covid or minimum wage, which they have taken advantage of. Strangely I have not seen this in european rural or even urban areas.