And the biggest con is the one that tells you it's "capitalism" when it was FDR, fiat and "socialism".

Such outrage, but your 20 million in net worth should ease the pain, although it didn't
seem to help you "prepare" for the pandemic.

But hey, as an economist, maybe you could tell us what would reality would look like if the
25 cent minimum wage forced on FDR was still a "living one"???? ( and why it is not! )

P.S. You have five times the net worth of five of the 8 dems that nixed the $15/ hr min wage.

Maybe if others followed your lead and asked for "volunteers" to do the non-productive work
of doing your "transcripts"...the world would be a better place?

All comments from YouTube:

RichardDWolff

3y↑5

Please be aware that an imposter account is pretending to be Prof Wolff while posting solicitations in his video comments. These are NOT from Professor Wolff. We are doing our best to report the comments and the fake, imposter YouTube account to ensure it's speedy removal and a stop to these solicitations. You can help us by reporting these fake comments as well. Thank you, and please continue to enjoy Prof Wolff's videos, and your discussions of them.

Jpenney mrcoin

its

Political LiL

You can't be imitated nor duplicated and your audience is sophisticated we will spot a phony Proff Wolf in a New York minute keep up the good work

teddy G

3y↑79

The good professor spilling a whole lotta truth here...pay attention Democrats.

Kev chard

3y↑1

@Dag Smoko Exactly not the average people.

Dag Smoko

3y↑3

@Kev chard The people who selected Biden.

Kev chard

3y↑3

@Dag Smoko This true they only answer to the oligarchs not the people.

Dag Smoko

3y↑4

The Democrats are unlikely to resume being the party of working people, if they ever were. Too many other priorities.

Kev chard

3y↑4

And Republicans as well. Sorry I forgot republicans dont live in the real world they live in a religious dream world that denies reality.

1 More Replies...

Iron Snowflake

3y↑49

Well, looks like the Dems are laying down without a fight... didn't even pressure Manchin for that $15 minimum wage....no min wage increase in over a DECADE!
Love to listen to you Professor Wolff

Leslie Stenta

@joy n I wish that my right wing, deep down the rabbit hole friends would realize that.

Dag Smoko

3y↑3

You are correct that the minimum wage must rise, but informal cheap labour from the south would circumvent such a rise.
Without a carefully managed US immigration policy a significant rise in the minimum wage will likely see inconsistent results for workers.

joy n

3y↑3

All politicians are garbage, they pit us all against each other with their media. Divide and conquer has ALWAYS been their mind game as well as fear tactics.

Shain Owen

3y↑2

Federal reserve is why the economy is tanking. Study fractional reserve banking and broad money inflation. Money is loaned into existence. Booms and busts. Digital fairy dust. Them dollars you hold is not money. They are bonds. Debt. Debt slaves

Maui Bill

3y↑4

I love it how so few people vote this man down. It means so much to everyone to hear the truth about what is going on, they like it even though it scares them to hear it.

Miss Yoko

3y↑3

brilliantly explained, thank you Prof. Wolff.

Keith WOLF Hoskin

3y↑2

GREAT TALKING POINTS MR WOLFF AS USUAL ... SALUTE 💯🎓❤️👍🏿

Tia Marie

3y↑21

The professor has lost some weight ....I hope he is okay.

Sjnört

3y↑5

Thank you for your insight Professor Wolff

Daniel Moynihan

3y↑1

Richard Wolff, it is always a pleasure to listen to you, calling it as it is, with a direct approach and without waffle, and is very much appreciated. In my own observations, there is one common factor, not only in the United States, but here in Ireland, where government deals, golden or otherwise have opened doors to egos unhinged, rules by desire and not by conscience. And, that is plain and simple denial, denial of one's actions, denial of one's active participation, denial of one's reality. But, most of all, the denial of the fact that if they do not take responsibility for their actions, their very denial can only be equated to, leading humanity blindly into the abyss.

ParcelOf Rogue

3y↑20

A huge number of people are now reliant upon a large inheritance to have any chance of buying a property which means possibly paying rent until in their 50's. They are the lucky ones. The average property in the UK costs £240,000 ( $320,000 )
Our parents may be indignant about affordability as they often believe they struggled to pay a mortgage, possibly as low as £20,000, but it was on another scale of difficulty in the 60's and 70's, compared to the past 20-30 years
In the 1930's house prices were even lower, low enough for My Grandad to buy a quite large new semi with a huge garden in Wigan from money borrowed from relatives and re-paid in just 3 years out of a modest Police salary.
The replacement internationally of RPI ( Retail Price Index ) by CPI ( Consumer Price Index ) is the gift that keeps on giving to miserly governments, such as the UK's. CPI does not include property purchasing, mortgage payments, interest or rent, but does include what used to be called "lights", offal or intestines that almost no consumer buys, except perhaps as companies to put in pet food, or else it goes to landfill. But that contributes to the CPI which keeps down your wage negotiations and helps exaggerate your living standards

Ross G

@ParcelOf Rogue God I hope you are right.

ParcelOf Rogue

3y↑1

@Ross G Brexit + Covid could yet pop the property bubble, especially city flats where people are moving out

Ross G

@ParcelOf Rogue sorry how is it a classic bubble?

Ross G

@ParcelOf Rogue how is it a bubble? Its the only true price signal in the world.
Whatever, dont buy it, more for me. Thats how game theory works. Best of luck.

Ross G

@kwakkers68 Bitcoin is still super early. And the 30 and 40 percent swings will calm down as the market cap increases (1 trillion now) its harder for the whales make waves. There are no bubble burts. Its just supply and demand. 5 year bull run and gains for 5 after that. There is nowhere else to go.

10 More Replies...

Dag Smoko

3y↑3

What went wrong? Take your pick: neglecting health so the system will fail in a pandemic, failing to mandate infrastructure maintenance and rebuilds, failing to establish a permanent electoral commission, near universal reliance on cheap, compliant, "illegal" labour, running down education to it being primarily a money spinner, turning a blind eye to intellectual property theft, failure to assert standards for imported goods, lack of diligence around foreign investment in/out of the US, not to mention failure to give agencies the means to go after corruption.

PragmaticPolitics

@Jeffrey Long you don’t need to compete unless you are a capitalist wolf did a really good response to a question about free trade vs protectionism before. Capitalists exploit free trade as an excuse to pay you less. Worker cooperatives would not have this issue because the owner and the worker’s interests are not directly opposite. Our economy would have to change because it would still be in our interest to not do some types of labor and manufacturing in the US. Our economy would just shift slightly away from the cheapest manufacturing or we would focus on improving efficiency by actually improving efficiency rather than by proportionally increasing efficiency by paying workers less.

Ian Reynolds

Great assessment of capitalism and what its really doing to our lives. Long live Richard wolf

Jesse James

Prof Wolff right on target as usual. Thank you

Ed ogle

3y↑20

"Hear,Hear,Hear"......Yes,Yes,Yes,....Professor I hope everything is well with you,I'm worry you look like you have lost some weight.??

Tia Marie

3y↑5

I commented the same thing

TheWindGinProject

3y↑20

RichardDWolff: Labor Unions - Just start saying labor unions! - L A B O R - U N I O N S

TheWindGinProject

@Jeffrey Long Thank You, your points are most excellent. I really think its been over since the trickle down scheme went into hyper mode in the 80's. I guess it would take a world wide labor movement to regain balance. I wonder how long before the world economy goes into a death spiral for lack of a better term?

TheWindGinProject

3y↑2

@Clare Stucki Yes, I was at Eastern during that time. I'm a R E A L pilot, meaning that I stood my ground throughout the Eastern Airlines Strike. My solution is to bring back labor unions in full force. I would appreciate what concepts or solutions you may have to help balance our country.

Clare Stucki

TheWindGinProject Private labor unions are essentially extinct, killed by globalization. (It doesn't help UAW members to go on strike against GM and Ford if people can buy cars from foreign automakers.) The only labor unions left are gov't employee unions, and they don't have much power because they clearly remember what happened to PATCO when the air traffic controllers went on strike.

Shain Owen

3y↑11

Spot on

Daniel Russo

Prof Wolff bringing on the style past week or so

My Favourite Things

3y↑1

Who do we have in the UK speaking to our system in this way? i am not saying our situation is directly comparable but...

Marion Reynolds

3y↑1

Forget UBI - we need an FDR job guarantee - beware AI.

Shain Owen

3y↑5

Also, if they can just print digital fairy dust, why the f... Do we have to pay taxes for???????

Kasadoll

You pay taxes to fund out over paid "representatives", american imperialism and our vampiric plutocracy

D Rhodes

Would you say this is really a feudal system?

Iceberg Rose

Powerful stuff and bang on.

Jerry Nelson

3y↑30

as a marxist this time is pretty revealing.

Skynet Robocop

3y↑2

@Bruh sound effect #2 No, and neither will capitalism. Actually we are in a state corporatist system... BRUH

Dag Smoko

Why? What has been revealed to you?

Maui Bill

@Jerry Nelson Thanks. Most folks have no idea about the evolution of socialism and communism. The fact is, you can be a communist and never live in a communist state. In fact, no one ever has.

Jerry Nelson

3y↑2

According to Marx : Communism is developed socialist state or where all classes disappear and mankind live harmoniously in a commune.

I am a socialist for sure. No state ever achieve Communism even former Soviet Union. USSR was a socialist states blended with Russian past.

2 More Replies...

Harold Morozko

Democracy is only when we have workers control 5he working place. No masters, no slaves. Capitalism is in its death throes, but socialism will not magically replace this moribund economic system. Workers, i.e., those who don't get their income from the labor of others, must unite and cooperatively decide what to produce, for whose benefit to produce, and who benefits from what they produce!

william black

3y↑1

Capitalism like feudalism has had its day.

Zen and Lika Pitts

3y↑2

Richard, sending you healing light ✨🙏❤💖💛💙
Please, smile sometimes 😊☺🙏🌺🍀💚

Dag Smoko

Correction:- wealth from the middle and bottom of the US has mostly gone overseas, not to the "tippety top" which you have conveniently failed to elaborate on. Maybe you mean the "tippety top" are mostly overseas corporates and billionaires including the upper hierarchy of the Chinese Communist Party. Many of them the same ilk as the American billionaires who have done well from globalism.

sherriinolywa

3y↑1

I left the democrat party 2 years ago. Both parties spew the same garbage.

Bunyip Z

3y↑1

Nothing went wrong everyone is in debt to the rich

Randy Best

3y↑1

The difference between 1929-1941 and today is that we are off the gold standard and the FED can print money at will.

Randy Best

@Jeffrey Long You are 100% correct. Everything now is corrupt and manipulated.

Mr Anderson

✊

Asclepius Hermes Trismegistus

Need Dr. Wolff to be on all the TV channels on the news.

James Warren

YOUR ARE 100% RIGHT

Hing Neo

3y↑2

Professor Wolff I heard you loud and clear but do Americans listen to you especially the 74 millions Trump's voters?

B L

3y↑1

To cure the disease: Q.E-1, Q.E-2 but the symptoms still persists, print more money, Q.E-3, QE-4 .... Q.E-n to no avail. Why ?
the 1% invested those Q.E money everywhere including in competitors' countries, but not in the US. The 1% made the huge profit then stashed money in some tax haven isles.
How could that happen? the 99% allow that happen democratically.

TheRantingRooster

3y↑1

#RevolutionIsTheSolution

J GALT

Paul Griesbach

Corporations now spend about $2.6 billion a year on reported lobbying expenditures—more than the $2 billion we spend to fund the House ($1.18 billion) and Senate ($860 million). It’s a gap that has been widening since corporate lobbying began to regularly exceed the combined House-Senate budget in the early 2000s.
The Atlantic

LEE DRUTMAN
APRIL 20, 2015

Todd Smith

Ah yes. The POL POT of economics rants yet again. lol All good comrades should take note.

Snurre .Sprett

3y↑1

Yes, there are fewer goodies. They should never have gone of gold.

John Mitchell

3y↑1

I have plenty of rice and beans I'm ready

Khosro Fakhreddini

Economy is hardly an issue in this country (Germany) because everyone has more or less to eat and is looking for entertainment. That is why one experiences a decadence and carelessness here like perhaps with the Romans shortly before they went down in the annals of history.

gutter baby

please be my father Mr. Wolff

Gregory Gant

Ha, ha , that's good one .
Do you really mean that , are you that desperate ?

Joe Weis

3y↑2

FDR Put a Band Aid on American Capitalism !!!

Buffalo Lodge

If that wasn´t the truth, I don´t know what is.

A G

👋🏼👋🏼

J Matson Heininger

Yes a mess. A thought. AI and robots. As these consume human jobs our nation's safety net becomes in greater danger. All appropriated jobs must be taxed, AI and Robotic services and production both, 24 hours a day, to provide retirement and health care and societal benefits to all Americans. An intelligent society would view this transition to none human labor as a possible Utopian moment -- Not a moment for more wealth for the very few.

Al Loomis

3y↑1

no cross-roads, just a garbage-shute.

Griff

Is this the guy whose entire doctorate dissertation got debunked completely?

Ric Brunner

Here is who I blame. Biden, trump, Obama, Bush, Clinton, Bush, Reagan.

felicetanka

SS, scapegoat selling.

oldsesalt

The fault is not in the stars, but in our selves.

WEAKSAUCE92

Capitalism has no morals ethics principles except unlimited profits and human suffering kinda what Winston Churchill said socialism was in a quote

CrabApples Bodaciously Bitter Fruit's

3y↑1

Google mont perlin everything is going according to plan

Glenn parent

ace

Artak091

3y↑4

Late stage capitalism.

A G

@Dag Smoko lol right, like they said late stage capitalism during the Great Depression, it’s just plain old capitalism.

Dag Smoko

3y↑1

After 250 years?

Shain Owen

I'm in canabis stock, physical gold silver, and cryptos. Beware, this country is breaking so you better get your fiscal house in order. Get a 2nd passport too.

A G

@Alan H good point.

Shain Owen

3y↑1

@Alan H government schools teach Middle class to buy liabilities and liabilities keep the middle class on the hamster wheel. Banks loan is a liability to the borrower and an asset on the bank book. Consumerism is the machine that keeps the Kenyesian economic machine going. Money flows to the top. Worker loses. Saving loses. You gotta get on the financial side. Its not capitalism. It's robber banksters.

Alan H

3y↑2

Some of us can't afford ANY stock, nor a 1st Passport.

1 More Replies...

Duel Vector

3y↑2

The next one tells you it is the fault of capitalism

kobe mop

3y↑1

Keynesianism =/= Marxism. Keynesian however has added a hug band aid and gotten good growth from the 50s to 70s (where the government was actually more involved in the economy).

Shain Owen

@colly beans yuppers, central banks is part OF marxism. Money loaned into existence. They want the state to control you from cradle to grave. You do not want communism. Watch the colony on netflix. Its a Sci fi but It's all about communism. I'm a libertarian. I don't need government dictating every facate of my life. Its not capitalism that has prices high. Its broad money and complete government control with the crony capitalism controlling government. True capitalism is a winner. It wins by the consumer voting with their money. Example, of broad money inflation. Michigan, California, Dakotas, and New York. You work and your business partner the government steals half of it and gives u peanuts in return but sends billions to our enemies for pay offs called gender studies in an Islamic country. WTFU