Reply To: (Is this really ) How Capitalism is Killing Itself?


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#33600 Reply

Phil the ex frog

Baal, yes, it’s rare to hear such broad stroke clarity from an economist or a philosopher let alone a marxist. Last night I found a video of Wolff giving an incredibly simple yet compelling overview of why we are in the current economic crisis. I’ll post a link later.

RE: this video. There are two parts, above others, about which I would like further understanding:

19:05 “cronyism”: Wolff implies cronyism is inevitable. Why?
27:20 “I earned it”: A capitalist would respond that recipients of dividends create wealth by choosing where to invest their money. Wolff doesn’t seem to counter that basic argument.