Sorry, there was a YouTube error. Socialism is capitalism’s critical shadow. When lights shift, a shadow may seem to disappear, but sooner or later, with further shifts of light, it comes back. Capitalism’s ideologues have long fantasized that capitalism would finally outwit, outperform, and thereby overcome socialism: make the shadow vanish permanently. Like children, they […]
G7 Versus BRICS: Power Struggles Are Not Class Struggles, By Richard D. Wolff
Sorry, there was a YouTube error. Class struggles interact with but are different from power struggles. The ancient conflicts between city-states Athens and Sparta were power struggles, while within each, slaves and enslavers engaged in class struggles. Britain and France were absolute monarchies in late European feudalism fully engaged in power struggles. At the same […]
Why Capitalism Is Leaving the U.S., in Search of Profit: By Richard D. Wolff
Early U.S. capitalism was centered in New England. After some time, the pursuit of profit led many capitalists to leave that area and move production to New York and the mid-Atlantic states.
U.S. Leaders Are Split on China Policy
Sorry, there was a YouTube error. By Richard D. Wolff On the one hand, U.S. policy aims to constrain China’s economic, political, and military development because it has now become the United States’ chief economic competitor and thus enemy. On the other hand, U.S. policy seeks to secure the many benefits to the United States […]
It’s Hard for Americans to Engage in China-Bashing Without Tripping on Contradictions
Sorry, there was a YouTube error. By Richard D. Wolff The contradictions of China-bashing in the United States begin with how often it is flat-out untrue. The Wall Street Journal reports that the “Chinese spy” balloon that President Joe Biden shot down with immense patriotic fanfare in February 2023 did not in fact transmit pictures or anything […]
The World Economy Is Changing—the People Know, but Their Leaders Don’t
Sorry, there was a YouTube error. By Richard D. Wolff The year 2020 marked parity between the total GDP of the G7 (the U.S. plus allies) and the total GDP of the BRICS group (China plus allies). Since then, the BRICS economies grew faster than the G7 economies. Now a third of total world output […]
Market Fundamentalism’ Is an Obstacle to Social Progress
Social Progress is linked to the Economy
The Debt Ceiling Debate Is a Massive Deception Against the Public
The debt ceiling deceptions favor corporations over individuals and the richest individuals over the rest of us
The Emerging New World Economy
The emerging new world economy displays the unity of opposites and contradictions. Four major developments can illustrate them and underscore their interactions.
The Social Changes We Need, the Class Obstacle We Face
The inflation that plagues the United States and beyond results from a decision made by employers.