Well what is it that Marxian economics says? It’s a big topic, reams of books and articles
have been written about it. Thousands of people use Marxian economics around the world, including
in the United States. So there’s plenty of material, but I don’t
have plenty of time. So, I’m going to go and cut to the chase,
to the core ideas, and there are two: number one, that in every economic system, the Marxians
argue, there is something called a surplus, that is produced by people, and then is distributed
in the society, and that how that’s done, and what the consequences of it are, have a very
powerful influence in shaping how the society works, and how we live our lives in that society. So, it becomes important to understand how
this surplus is produced, by whom, who gets it, what they do with it, because it will
help us understand how the society works. And a corollary is, if we think that the way
a society organizes the surplus it produces, is at the root of many of its problems, then
we might reach the conclusion, that we ought to change the economic system, to have a different
way of producing and distributing the surplus, as a way of solving social problems. In order to get at that, you have to learn
a little bit about Marxian economics. Nothing is gained by knowing nothing, so you
might as well learn it, and see what insights it might get to you. Second basic point, which follows from the
first, Marxians believe that an economic system would work better if it were grounded on an
organization of production, the production of goods and services in factories, in offices,
in stores, if that system that organized production there, were a democratic worker-cooperative
type of system, where everybody who participates in the production process, everybody in the
factory, the office, or the store, has an equal one person, one vote say over what is
produced, how the production works, where the production takes place, and what is done
with the products of everybody’s labor. To handle that in a cooperative way, rather
than in the hierarchical way that capitalist enterprises work, is an idea that Marxists
think will go a long way towards solving all kinds of social problems.

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13 thoughts on “Economic Update: Different Economics, Different Policies [CLIP]”

  1. Please do a show on the Tenets of Marxism, Where you are at with those tenets and the minutia of disinformation the GOV and others spew to discredit/fear monger.

  2. I love Rick,I want to see and hear him speaking for many years to come,that being said I wish he would get more fresh air and exercise and switch to a whole food plant based diet if he hadn't already. His work is exhausting I just hope he keeps it balanced!

  3. really simple and easy to understand, perfect explanation of how you could fix the exploiting system of working for someone elses gains,

    all that in 3 mins and when i think about how fair it could potnetially be it makes me feel a little hopeful that more and more people can see this idea of a better future and we can move on to a post scarcity star trek like utopia.

    fully automated luxury gay space communism for the win:)

  4. Richard Wolff is a capitalist without even realizing it! Under capitalism. you decide what you produce, where you produce, what you do with the profits, etc, the only exception of that is if you work for someone else! Carl Marx would only be right IF businesses and companies were just magically showing up all over the place and someone was just there taking them over!

  5. America is a corporate dictatorship ruled by the rich 1% that control and the people in America are selling each other out to get ahead in life

  6. Marx's surplus is really "rent" and rent rightfully belongs to all members of society and not to any individuals. Of course, other monopoly privileges entrenched in law and custom allow the privileged to take not only rent but also a portion of the wages of labor and the legitimate returns to those who own and use capital goods.

  7. The voting children of military parents could never support such a system. Since the USA is the strongest military in the world; how likely is it that Dr. Wolff is a puppet to lure naive people out into the open so they can be targeted to be made in-efficacious as to any alternative system? Do the math, and you will see how "free" this thinking by Dr. Wolff is.

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