Economist Richard Wolff on ‘Communism’ & ‘Capitalism’ As Universal Terms

joining us today is Richard both he is professor emeritus of economics at my alma mater the University of Massachusetts currently a visiting professor at The New School University in New York City professor I wanted to talk you about this idea of capitalism as a well as one single Continue Reading

Economic Update: Marxism’s Contribution

Welcome friends to another edition of Economic Update a weekly program devoted to the economic dimensions of our lives, jobs, debts, incomes, our own those looming down the road, those of our kids I’m your host Richard Wolff, I’ve been a professor of economics all my adult life and I Continue Reading

why kids love communism

This is about why kids love communism and my grandfather loved communism. Aged 18, he joined the Party and he was then conscripted during World War One. And he refused and went to jail and spent two years as a political prisoner – starting in 1916. That was halfway through Continue Reading

Economic Update: Rise and Fall of the USSR

Welcome, friends, to another edition of Economic Update—the weekly program devoted to the economic dimensions of our lives: jobs, debts, incomes, our own and those of our children. I’m your host, Richard Wolff, and I prepare these economic updates each week. Today, we’re going to depart briefly from our normal Continue Reading

Marxist Economist debates FOX’s Stuart Varney about Socialism

Senator Bernie Sanders renewing calls for a single-payer health care system as the GOP fails to replace and repair Obamacare. Listen to Senator Sanders: [TAPPER] Are you going to introduce single-payer? [SANDERS] Absolutely, of course we are. We’re just tweaking the final points of the bill and we’re figuring out Continue Reading

Richard Wolff Explains 3 Kinds of Socialism

So I want to devote this program to going over with you the three major ways this idea of socialism is understood, because those ways are relevant today, those ways are fighting it out amongst themselves in terms of the allegiance, feelings and thoughts of people around the world, and Continue Reading

Richard Wolff: Socialism is Changing

The socialism that is emerging is not the socialism of our parents and grandparents. A fundamental shift has happened and we shouldn’t be surprised that socialism is changing because, after all, it’s the shadow, as I said, of a capitalism which is also changing. 100 years ago most capitalists were Continue Reading

Economic Update: Black Socialists of America [Trailer]

Demonization of everybody left-of-center became a passion engaged in by both Republicans and Democrats. Socialism can and has appealed to the American people in the past and it looks to be doing that again now. We thought you know we can have a platform you know to educate and to Continue Reading

Richard Wolff talks about communism as one of 3 basic kinds of socialism

Let’s turn to the second one; the communist alternative, when the government takes over running and owning enterprises and plans the output. Well there what we have is interesting results. First, these sorts of economies have been stunningly successful in achieving one of their central goals which is economic growth. Continue Reading

Richard Wolff: Difference between socialism & communism and what they both missed

But with the Russian Revolution a great change happened. The Russians, through a revolution in 1917, took over, closed the stock market, made industries the property of the government to be run on behalf of all the people, and instituted a planning system to distribute things, and subordinated the market. Continue Reading