I invited Economist and Professor Dr. Richarf Wolff to Politics Done Right to discuss economic systems. Giving the discussion on Socialism that Trump is trying to force into the debate, I thought I would provide the definitive answer so people don’t have to listen to the noise that misleads.
Dr. Richard Wolff set the record straight
Dr. Wolff put much into perspective. One of the most daunting realizations is the similarity between three economic systems that initially seem dissimilar. He made it clear that slavery, feudalism, and capitalism had similar structures. Absent, humans being legal property and the physical harms that came with slavery, they are fundamentally the same. It is not easy to accept, but he lays it out very well.
Another interesting point the professor made was the longevity of economic systems. He pointed out that they all eventually come to an end, they die. He is pretty sure that capitalism has reached the near-death point its life cycle.
Dr. Richard Wolff is the author of “Capitalism Hits the Fan: The Global Economic Meltdown and What to Do About It” and “Capitalism’s Crisis Deepens: Essays on the Global Economic Meltdown.” These works explain our economy in an easy to understand manner without the usual bloviation from economists who are pushing ideologies.
The interview was not dull at all. Dr. Wolff is a master at explaining by giving real-world explanations as teaches and informs. The video clip in this post is well worth the listen. But one should watch the entire interview as it will provide a full understanding of our economic system and our likely migration to another.
It is clear that our economic system, for the masses, is on fumes. It is not sustainable. It’s inherent inequality will cause its ultimate demise.
Watch the entire interview at Politics Done Right.