How Capitalism is Killing Itself

How Capitalism is Killing Itself

2016, Economics  -   94 Comments
Ratings: 8.05/10 from 431 users.

Even 133 years after his death, the teachings of philosopher Karl Marx seem more relevant today than ever before. They've also gained in popularity. In a recent survey, 43% of young Americans under the age of 30 voiced favorable leanings to the notion of socialism. Is this a sign of a new anti-capitalism trend taking over in the United States? The new documentary titled How Capitalism is Killing Itself, produced by the acclaimed series The Empire Files, seeks to find answers.

The film dissects the tenants of Marx's economic principles, which were largely born out of a humanist philosophy. As recounted by Dr. Richard Wolf, the film's chief interview subject, Marxist economist and Professor Emeritus of Economics at University of Massachusetts - Amherst, the philosopher set out to uncover the root of social inequality, and identified a purely capitalistic system as its major culprit. In his view, capitalism could only thrive by imposing various social ills upon society such as impoverishment, inequality and exploitation. Therefore, the Marxist-led socialist movement is characterized by a need to redefine the very foundations of what he viewed as a deeply flawed and immoral system.

There are many indications that the long reign of capitalism may be on the ropes, especially when observed through the prism of this year's United States presidential election. Self-confirmed democratic socialist Bernie Sanders has proven enormously successful in spreading the gospel that Marx first preached well over a century ago. The youth, in particular, has flocked in support of Sander's candidacy and his message in record numbers. As members of this new generation eventually assume the mantle of leadership in their country, could their firmly held beliefs facilitate the end of capitalism as we know it?

How Capitalism is Killing Itself is a fast-paced and informative expose, but it makes no illusions to an even handed treatment of its subject; its agenda is implicit in its title. But even for the most fervent skeptics or the uninitiated, the film proves illuminating in its attempts to dispel much of the misgivings, fear and misinterpretations of the Marxist philosophy.

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94 Comments / User Reviews

  1. Comrade JC

    As always, Prof. Wolff nails it!

    To all the haters - read Marx first (the primary sources, not the Wikipedia summaries). You can find all his writings at the Marxists Archive. Maybe you will understand why capitalism is unsustainable. If not, at least you will have a more informed argument the next time you post in a comments section.

  2. concerned citizen

    Satoshi gets it.

    Read the post below.

  3. Satoshi

    I appreciate that the points are well articulated and clear, but this is terrifying.

    Blaming capitalism for the erosion caused by socialist policies and government intervention is like blaming air for asthma, and then banning air.

    He makes a point that "since we are here now, that means this is where Capitalism leads" but never attempts to make that same point about socialism, which devolves into a murderous hell.

    The dirty secret they will never say out loud is, "freedom doesn't work, we need societal control to prevent people from taking advantage of one another". If they said this, it would be clear how stupid this idea is. There's always someone at the top, and when nobody has rights, those people become the supreme leaders. Russia "emerged as an economic superpower", but how was the quality of life for the average person? They were fleeing the country, and not allowed to leave. Even the Chess champions and athletes have government minders escort them to events around the world.

    People advocating for this nonsense won't discover these obvious flaws until there is a boot on their neck. Then it will suddenly become crystal clear, but there is no turning back from that point.

    1. Moe Badderman

      # "this is terrifying"
      Try to be brave, Satoshi. It is not about any contest of capitalism versus your terrified concept of socialism, but rather about the problems of capitalism, full stop. It is not about any "dirty secret" you may imagine, nor any "societal control" you fear, including "a boot on their neck". Try to focus upon what it is in fact about, rather than the horrifying morass in your head.

  4. Tatjana

    Wonderful professor. Good job!

  5. Gigemall

    If Marxism (Socialism-Communism) is so fantastic why don't they make it easy for people to leave, so they could then have more room for all those massive hordes (haha) that want Marxism?

    Here is a deal for all the jealous Marxists who cannot stand reality, that there is no such thing as equality, even in Marxism, where all the peons are somewhat (but not really) equally poor, and the ruling class along with their cronies and kin, are unequally doing dandy. Here's your deal: For every person who wants to leave a Marxist country, we welcome that one and send one of your Marxist govt school indoctrinated dupes (most Democrats under 50 and a few too many over 50) in return. Then everyone will be happy! Oh no, cannot have that. Marxist regimes pretend that their system is "for the good" and will damned well force people to enjoy all that good, even if they have to shoot them in the back to keep them from leaving make sure their power greedy unnatural unsustainable policies are followed, "for the good of all" = For the good of the ruling class who will lose another slave if you leave.

    What the dupes don't yet understand is that they are not the ruling class and dissidents are beaten and worse, just like the Marxist of today (2019) are trying to get away with in the usa; beat up people wearing a Make America Great Again cap, who disagree with the stupidity of the lefties. Is beating them up going to make them change their mind -OR- convince them they never knew how bad Marxism really was?

    What sense does it make to beat up someone who just want things to be better? To stop exporting jobs? Clearly many in the media should be tried for treason, filling the minds of these malcontents with lies, leading to hate.

    The only thing more evil than Capitalism is... every other --ism: Progressivism, Socialism, Communism, Corporatism(Fascism), etc. all which are so lame they have to buy votes from those who cannot think beyond their emotions and those who want someone else to pay for what they want.

    My greatest fear is that the border wall will be used to keep the people IN, once the Marxists dupe enough of their govt school indoctrinated zombies into voting for another Marxist regime.

    When the non-Capitalists are able, have taken the guns, then they are those very evil types. No different than those who lock their kids in closets or chain them to their beds and beat them. They build Gulags. They cannot stand logic, reason, truth, to the point they would rather kill the messenger, lest others hear that logic and let the arguments be transparent for all to hear ...and then let the people decide. They know they would lose. So they must lie.

    Marxism can never win by logic, only by lies and by force. And one of its chief proponents, Saul Alinsky, who wrote "Rules For Radicals" Obama's and HIllary's playbook, stated that if you told the people the truth, they would never go for it, so lie, lie, lie, and lie some more, ...and they did! And sadly too many people fell for it.

    Sadly too many are still falling for it, even in the face of all the evidence, that eliminating socialism creates jobs. Socialist rulers don't want jobs, they want dependents, so they can buy their votes with a few freebies they stole from someone else. If that isn't immoral and truly evil, then you are clueless. If you had a great paying job, you wouldn't need a Socialist regime any more. They know that. Why don't you?

    1. Kukulcan

      Do NOT confuse Marxism with Stalinism. --just read a bit more beyond your blinders. Marxism does not equal Communist Political Party systems.

    2. smerk

      Look at this jackass trying to say oh that's the wrong kind of socialism.

      Just like the german socialist worker's party. lol what a joke, once you move out of your parents you start to understand, unless you're lazy then you might keep saying socialism is the answer.

  6. joe hono

    Production is poor. Graphs have 0 context. Was a good history lesson on Marx, but that;s about it.

  7. Howard

    Every time we a Republican president, we have Recessions.

  8. lance

    Hey, moderators AM I NOT able to tell the rest of the viewers that the interviewer is RT News puppet girl ; Russian owned propaganda outlet ??

    1. Tatjana

      The professor is from Massachusetts. Oh, this is Russia? ;-)

  9. Lance

    RT News has been cranking out CHAFF for Quite a while . . .

  10. lance

    She's (the interviewer) is the RT News girl puppet.Owned by the Russian government; 1 of their propaganda machines . . .

  11. Damian

    I see a book titled CAPITALISM DOESNT WORK lol if that's the case please tell me why America is the greatest and most successful country on planet earth lol dont worry I'll wait, NEWFLASH to all you Marxist idiots out there, there is no little utopian heaven it doesnt exist and it never will grow the hell up and get with the real world!!!!

    1. ConservativesRDumbfucks

      @Damian Over half the U.S. is considered poor or low income and could not scrape together $500 for an emergency so no Capitalism has failed most in the U.S. As for the country itself being rich you can thank imperialism and the exploitation of workers by transnational corporations.

      Your childish and slavish devotion to an ideology that ignores growing inequality and hardship produces the same historical result - whether Cuba, Russia, or France, the results for those indifferent to suffering is not a utopian result.

  12. RalfatMarx

    It seems they would like to dig up Stalin and rewrite history, claiming that all the ills attributed to Capitalism were not more in abundance in every system which has more government control, such as Socialism and Communism.

    @Mic has it. Government, which has grown far more than necessary in the usa, IS the problem. Government, due to the laziness of the governed, will always be the problem.

    Capitalism is an economic system ...which people would naturally develop or make use of without any govt. Sadly the Marxists professors and media have been lying in hopes of gaining total control over you, for many decades.

    Hopefully more people will continue to wake up.

    1. Damian

      1000% correct

  13. Mic

    It's not capitalism that causes our societal issues, it is government. Government gives power to the ultra wealthy, they bail them out. In America, if the government didn't have the power to bail the banks out, true capitalism would have washed them away and we'd be starting fresh. In this next economic crisis speak up and fight against bail outs, it will be painful at first, but maybe we can start over for our kids.

  14. Geo

    Laughing my hiney off.

    Socialism is nothing more than a criminal enterprise where they "legally" steal from those who earn, then give it to those who find it easier to whine and extort than to work or compete.

    If you want a free education, gather together all those Marxist professors and politicians telling you that you "deserve" a free education... Ask them to teach you and your friends and their friends (everyone wanting a free education) FOR FREE.

    Being the "good" Socialists telling you that you should have a free education, they should welcome your cries for that with open arms... shouldn't they? (laughing my hiney off even more since those are some of the greediest types ever)

    You CAN have a free education. You can find the truth and history of Socialism via the internet. You can find out all the news and info the major media and schools keep from you as well. Best education there is for those that volunteered to be lied to by Marxist professors and the Marxist major media which is owned by the same bankster cartel who paid to insert Marxist professorships into the universities for many decades now.

    You can also learn the true history of the Democrat party, the slavers, who still want to enslave everyone via Collectivism of whatever flavor... while shouting and pointing, "its them over there, they are the bad guys!" ...just like the muslim leadership does while they pocket the oil money and leave their people poor and hungry.

    If you believe Capitalism is a bad system, why not move to a country where you like their govt? Why scream and shout and this one? Just leave. Please!

    Yes, there is plenty of room for improvement; all that is needed is to drain all the Progressive swamp creatures that crawled in, causing most of the problems. Then make the penalties for corruption extreme and the ease of prosecuting it, including the corrupt Socialist judges, easy.

    Majority of problems solved.

  15. James

    Whoops, two things are intrinsic to economic growth, Lack of regard4children and cheap energy

  16. James

    Economic growth is intrinsic to two things. - the purposeful lack of regard4children and cheap energy. We all know, whether we admit it or not, that energy will get expensive and therefor economic growth will slow or become negative. What will happen to the stock market? What will become of the American Dream? Well, you'd better prepare our children for it. If you don't then one would say you purposefully lack regard4children. At which point you can call yourself a lawyer without having to go to school. Ha!

  17. ZombiesVsInventors

    People are not of equal ability, you cannot force them to be no matter what you do. Going against that natural fact is the epitome of intellectual dishonesty.

    Capitalism is the only place you have a good Opportunity to excel. Is forcing them to perform the same as the lazy or less competent, fair and proper? Or is it evil men and women forcing their will upon others, and what gives them that right?

    Case in point Angela Merckel and her muslim horde. The Progressives of both usa political parties and their La Raza horde.

    1. HateCapitalism

      Yes so that crony capitalism can go back to slavery, feudalism. That the 5% stinking rich can impose their will & arrogance on 95% of incapable ones.Its better to live with just a handful than some capitalist monger deprieve you of your freedom.There should be a system where checks& balances are put in-place and not let companies of Apple,Amazon etc accumulate tons of $$$ doing nothing with it but to generate more.

    2. DustUp

      @HateCapitalism: Easy to see you have been indoctrinated by Marxists who purposefully kept from you the truth about Collectivism of whatever flavor you prefer. That is what they instruct their future leaders to do because they admit

      "the people would never go for it if you told them the truth."

      ...Or how else did you arrive at Capitalism, crony or otherwise, "going back to slavery"?

      The whole Globalist agenda, which you have clearly bought into, is about converting all to Communism. Where you are told how to live and what to do. Sounds like slavery to me. And you want to bring that about because you sucked up the propaganda like a Hillary to money.

      If you weren't so hate filled and unwilling to do something useful, you and your friends could easily rid the corruption and cronies from Capitalism. It is rather simple. See to it non corruptible wise people are RUNNING for all offices from all parties.

  18. gabriela

    I was borne and brought up in socialism. It's a bug lie. But i don't conside capitalism a viable alternative to it as it has been proven that it has failed practically also. In socialism and comunism stil a handful of people are runnning the country and taking decisions on behalf of the majority. The General Assembly - which is the equivalent of Parlament - is nothing but a flock of sheeps following what have been told. All economic reports and analyses were fake, reporting success after success when in fact real numbers were, some yimes, even falf the reported values. The idea of Collective Ownership is completly stupid as it states the everything is owned by everybody and in fact you have nothing and no say. This guy should have lived in USSR, have a small, tiny, unconfortable apartment, drive a shitty car, eat wht government decides to eat, have as many children as government decides to have, not to have a passport and travel wherevr you want and so on. Yes, there are good parts: free medical care system, free learning system, everybody has a job, everybody can afford a house. But there is no freedom, no free will, no liberty of expression. So, maybe none of these two social systems provides right answers to all the questions, but a mix of them may do. Humans are and always be greedy, dominant, corruptible, fanatic, craving for more and more of everything, capable of hatred and jealousy. Humans are born warriors and conquerors, always want to domine someone to feed their uncontrolable desire of domination. This is happening when in socialism PEOPLE are governing other people. They start to believe that they are the ELITE , they deserve more just because they tale decisions on befalf of stupid milions so they need payment for that. A bigger one. And we get to the same point except that they don't own the means of production. But nobody does.
    And when everybody gets a house and a car and free access to leearnig and medical care systems, what happens ? they want more. They want freedom of travelling, they want to rule as they are as good as their rulers - since they have same and receive same - and so on. But they can't because SOCIALISM is also about HUMAN LIMITATIONS as it can't grow too much beacuse you can't give all the people more and more ... of everything.
    As someone said in one comment, we juts claimbed down the tree, we just got out of the caves, we are NOT BUILT for building an equal society.
    And we will struggl for many years to come ...

  19. DustUp

    The mental experiments so many refuse to do:

    1. What if there were no govt, what would naturally develop between the people? Would they barter among themselves benefiting from acquiring goods and services of others in exchange for what goods and services they could provide? Or would some con men try to convince the rest to give them money to tell them how to run their lives?

    Either could occur depending on the content and character of the people in an area.

    2. What would survive if govts collapsed? Would they barter among themselves benefiting from acquiring goods and services of others in exchange for what goods and services they could provide? Or would some con men try to convince the rest to give them money to tell them how to run their lives?

    Those who don't need the power hungry to tell them how to live, would trade among themselves. Those who have been indoctrinated to depend on others to either: tell them what to do -or- provide what they need, would try to find authoritative sounding people to take the role of telling people what they should be doing.

    How is it that an Economic system is called a political system? Who benefits from doing so?

  20. DustUp

    Anyone wanting to point fingers at the evil USA bankster-corpro-govt-military-media complex. Fine. I agree. That is NOT capitalism AT ALL. To call it "capitalism" is simply ignorant. To pretend other govt systems like Socialism aren't just as, or more corrupt is also ignorant.

    In actuality, the usa is multinational bankster controlled Corporatism-Socialism, similar to EU multinational bankster controlled Socialism-Corporatism; the EU variety having less military creating havoc for the benefit of the banksters.

    The banksters which own and/or control multinational oil companies, defense contractors, and others, profit several ways from war, that is why there is so much war. FOLLOW the (bankster) money.

    Middle East oil mullahs profit greatly from war also; due to war premium on oil. Again, that is why there is so much war. Otherwise, they would just agree on a price (which they already have) its just that both can get it higher if they can convince people to jihad for Allah and Islam -and- fight for God and country.

    If the young folks decided their leaders were full of crap and stop fighting, the war profiteering would be over, oil would fall in price, defense contractors would go out of biz, peace and pretty flowers would flourish.

    Read what decorated Major General Smedley Butler had to say about war. It isn't that difficult to copy and paste his name into a search engine is it? Read what Hitler's Hermann Goering had to say about how easy it is to drag the people to war, regardless of the type of Govt; democracy, fascism, socialism, communism, etc. "All you have to do is tell them they are being attacked." Easy to do with a false flag event such as the Govt bldg in Germany or great bait in Pearl Harbor or the false flag Twin Towers in the USA.

    How long can Germany support the rest of the bankrupt EU as even Germany begins to falter? Why do Swedish bonds have negative interest? Meaning you pay them to park a bit of savings.

    Why is the US stock market rising so high in 2017-2018?

    It is EU people getting their savings out of a falling Euro and to avoid negative rate bonds. The EU is breaking all their own rules to keep countries from leaving their socialist, Brussels dictatorial, confiscatory, utopian nightmare. It is non-usa causing the usa stocks to rise. Not because our economy is all that hot. Just better to be in a rising market than a falling Euro and negative interest rate bonds. Sweden isn't the only one. Other Eurozone countries have negative rate bonds, Japan, etc.

    How long before an event that involves Europe getting into war occurs to cover over what the EU has done to Europe? One thing is for certain bankers and socialists are really great at running things into the ground. Whether they do it quick or slow, it is only a matter of time before they need a war or something to distract the people from coming after the govt with pitchforks and ropes after they are starving and their banks close for reorganization. Where they copy Cyprus: They keep your money and give you worthless shares in the bank.

    However, all socialists in the usa, please move to europe so you can taste how it becomes first hand when vote buying finally runs them out of money.

    Why Brexit if the EU socialist dictators were so wonderful? Why are the EU dictators and Brit socialists working feverishly to get around Brexit? If they care so much about the people? Or is it their bankster minion jobs and bankster socialist agenda they care so much about?

  21. DustUp

    When Sweden's tax rate was 70% it still wasn't enough. Years ago now, time flies, they decided to cut back on services and lower the tax rate = cutting back on what? Cutting back on Socialism. Do your homework instead of just deeming yourself more "educated" which is a laugh by any measure.

    The USA is not capitalism. The Scandinavian countries are NOT socialism. The simplistic assignment of Capitalism to the USA which is in debt up to its frosted hair tips at the hands of Socialists and Banksters who desire it, is as wrong as assigning the term Socialism to Sweden, etc. They all have degrees of Capitalism or they would have had economic collapse long ago. Most major and western countries are technically bankrupt; via their degree of socialism already, dead men walking, waiting for the guillotine to drop. When you get to spend other people's money, there is never enough of it, so they borrow, so the socialist whiners won't complain. Yet they complain anyway because when someone else is paying (what they call "free") they always want more. Voila Greece happens. And so too will the rest, unless they change course.

    No don't check, just believe the continuing indoctrination of capitalism = bad. Projecting all the ills of socialism onto capitalism doesn't make it so.

    Why not point to GREECE or the Union of Soviet Socialist Republics as wonderful examples of socialism? Just how is Italy and Spain doing? How long before they have a banking holiday similar to Cyprus? How about France, check the debt?

    How is it that China and Russia climbed out of their economic pits they were in years ago? They incorporated degrees of capitalism. In Russia's case Putin used that engine until it got going fairly well and then took back the energy sector, the most lucrative. Nice for him. China made the mistake of borrowing to keep its workers busy building cities no one lives in. Good for those workers, bad for the rest when the bill comes due.

    If the EU is what you desire MOVE there.
    I really can't fault the jihadis so much for what they do to the socialists. That is who they are. It was known. Why didn't the "good hearted" ignorant people welcoming them into the EU know that? Socialist govt emotional indoctrination rather than education. There leaders, who decided for them, knew but didn't care about their fellow socialists, only their agenda, which is the bankster agenda, their bosses agenda.

    Socialists, please move to that paradise where ever you think it is. There are people who will pay for your plane ticket as long as you don't come back (no free vacation). You will like it there. It was designed just for you. It is calling for you. It will fulfill your sense of indoctrination. Go. Be. Feel the sense of warmth and camaraderie of being around like minded people. Revel in the fact that you get others to pay for what you think should be free, even though you must know someone pays. Deny reality about the true economic condition of those wonderful socialist utopias and what actually caused it. Go on, you know you want to. You should!

    Until teachers work for free, there is no free school. Until the lights power themselves, there is no free school. Until the books write and make themselves, there is no free school. Why should anyone else pay for yours? Same for health care. Anything the govt pays for goes up in price dramatically, that is socialism. Then the call for higher and higher taxes.

    As long as you aren't paying those taxes you could care less. Nice, considerate, heart felt, caring types. What a laugh.

  22. Gus Brum

    Great lecture by Mr. Wolff. Absolutely enlightening.

  23. M. Riaz

    I would have been more educating if Mr. Wolf had explained the concept of dead ends of capitalist economic system. For example saturation of industrialization in developed countries; problem of surplus accumulated capital; impact of transfer of technology to under-developed countries, etc. etc.

  24. Dan

    Capitalism has prospered entirely within the bubble of fossil fuel. It requires a constantly growing population, and a constantly growing resource base. When a capitalist economy retracts (by loss of population or by greedy rich people causing recessions), it is disastrous for society. In a world of finite resources, it is unrealistic to think that population can continue to grow, that resources can continue to increase indefinitely, therefore it's obvious capitalism will fail in the long term. We have lived entirely within a bubble of resources we know are finite, and therefore we cannot say that capitalism works. It works ok when constantly fed resources, though it creates unjust, polluted, and exploitative societies if governments don't tame it to act in the interest of the society.

  25. VSky

    Well great depression of 1930s and 2008 depicts failure of capitalism. Moreover, capitalism has failed to deliver anything good but has gifted humanity war and so called terrorism; let's not forget WW1.
    Long Live Socialism.

  26. DustUp

    Central bankersters and other banksters are ruining this country, not Capitalism, which by definition cannot ruin anything, unless being free to trade with your neighbors is ruinous.

    If you think People over the Govt is bad (Capitalism), and govts which seek power to control the people so it can supposedly do good (Corporatism(Fascism), Progressivism, Socialism, Communism), is good, then you need to take a big step back and look with logic instead of emotional propaganda.

    Socialism is a ruse. Reinforced by Socialist education and Socialist media: "Trust in govt." "We know the right propaganda to tell you to convince you to vote for us so we can take your money so we can help [all]." While [all] they are doing is using it to pay interest to the central bankers on more debt they keep racking up to buy your votes with.

    Sooner or later the music will stop when the music playing politicians on the deck of the Titanic go underwater. Hard times will come due to the plot of the central bankers who cause the deflation. Deflation of what you have not of what they gouge you to buy. When you are desperate they will pick up everything for a fraction of what you paid. After awhile they start the inflation game all over again, making a new generation of debt slaves. Much easier to do in a Socialist country. That is why they fund Socialist professors, own and hire the Socialist media. And why they promote Socialism heavily everywhere they can, especially in the usa and have unfortunately succeeded far too far.

    Sadly the educated and fooled think they are "helping" by promoting Socialism because Capitalism is supposedly unfair and many other horrible things. Yet Capitalism is none of those. It is just more propaganda. However, all those supposedly well meaning forms of govt seek POWER and CONTROL over the people. Capitalism is people over the govt. Get that?

    Too bad we let the lawyers take over our govt. Endless laws and regulations do what to your freedom? Do what to the economy? All while extracting a premium for themselves via all the litigation due to those additional unnecessary laws and regulations.

    The usa was set up with no taxes on the regular people. Only those who benefited from working for or contracted with the govt were taxed for that privilege. That was freedom. People could afford a house and things they needed until the banksters caused a wipeout and depression. After the institution of a central bank, which is the private bank and its brothers and sisters across the world, promoting Socialism which makes controlling a govt all that much easier. Much easier than the impossibility of having to deal with all those pesky independent people who have control over their govt.

    The banksters want that control. We don't want them to have it. That's it. That's all it has ever been, since Woodrow Wilson sold us out to the banksters for campaign funds.

    Despite these warnings, Woodrow Wilson signed the 1913 Federal Reserve Act. A few years later he wrote: "I am a most unhappy man. I have unwittingly ruined my country."

    He didn't do it unwittingly but what else would he say? "I purposely ruined my country for campaign funds to win the Presidency" right.

    Central Banksters are ruining this country and the EU, and Japan, and all the others, not Capitalism.

    Chuckling at Pretorian and the many who think similarly. You don't care what is done with all those vote buying taxes. You just darn well want your vote bought! When the money runs out in the Socialist vote buying system, where they must tax more to keep buying the votes of enough to continue that system; if not in your lifetime, your children's, what shall be the course when there is not enough taxes, everyone has been taxed to the breaking point, when the money runs out and the country goes bankrupt?

    Yet more taxes? "for the good of all" which means it goes to pay the central bankers interest on the nations ever increasing debt. Borrowed to pay for all the wonderful things to buy your vote that the taxes soon weren't enough to pay for.

    Oops, that is the case for many of the EU countries (and the usa) right now. How long before the next country leaves the EU and the next, due to its wonderful dictatorial Socialist policies. Just because you don't pay any mind to what is really going on and the cause, being central control where you have no choice in the matter, and Socialism isn't Communism?

    Already said that, Socialism is where the people are fooled into voting for it. Communism is just forcing it. The end result is that Socialism is diet or lite Communism. No doubt like any and all govts, when they cause things to go bad, they will blame anything but themselves. Middle East, EU, United Soviet States of America, makes no difference, they blame the one thing that could save them, true Capitalism. When govts, spend more than they take in, which most all are doing, things will go bad eventually.

    Socialism is like a comfy jet plane with nice hosts and hostesses who smile and distract the passengers from seeing the plane has no wings. Just hasn't hit the ground yet so the Socialist passengers think everything is good. The usa is the same situation since it is mostly socialistic and in debt up past its hair follicles and to the moon.

    What event will be used next time, to distract you from the real culprits when the proverbial manure is about to hit the fan? The wings were off the jet plane in 2007. The event was the twin towers and the other buildings. The stock market was already starting a nose dive, yet they blamed its fall on that event. What will be the next event to provide cover for the banksters?

    Just because we don't live in the days of the industrial revolution doesn't mean the principles of freedom and opportunity and responsibility for one's actions have changed.

    It is humorous at best to justify govt stealing 50-80 percent from anyone until you vote to have that taken from yourself as well. Is govt greed somehow angelic while they dribble a little to the unfortunate to buy their votes, pay the lions share to the central banksters, and stuff their pockets with as much as they can? Yet trying to keep what we earned as we once did, non angelic when we recycle that money throughout a community many times over, lifting the economy and peoples lives, not having to be dependent and therefore subservient to your god govt?

    Those who speak out against Socialism have seen its devastating effects, its incremental effects over the years in the usa and elsewhere. Yet you prefer to be bliind and call us greedy. While you have to be forced to give via govt because you are unwilling to do so on your own, to "help".

    Please learn some history and definitions of what Capitalism actually is. Capitalism is not Corporatism(Fascism). There are other docus on here which explain it. If you want to live in the EU and be dictated to by EU policy, please go live there. Quit making more of a mess here. The usa was founded on certain principles. Mainly to be left alone. Self sufficiency. You act like the usa is Capitalism and EU countries are Socialist. Now a days they are much the same. Corporatism, Socialism, and Capitalism all together.

    Any system full of parasites will be pulled down. Whether they be microbes in your body or bankster and lawyers and those who vote for free stuff. Those who do are truly saying, "Govt, please steal from him and give it to me and/or them and I'll pretend you don't skim and use most of it for the banksters and other stuff." It really is that simple.

  27. Celeste

    GREED, MONEY, rich, poor and mediocrity? Why any intelligent life form would label itself, by any of these labels? Because, everyone else does and we all want to belong, while everyone wants to be a SOMEBODY!

    Let us peek through at some Intelligent life forms that live without money, armies, or cops. They all work hard to have what we desire. Reproduction is not only dependent on food supply but on time span required to reach overpopulation and when that occurs like lemmings and ants they self- destruct or fly to oblivion. In our case, it is war or regression into misery, because we loose leadership, order and knowledge and we fall into the hands of exploiters.

    GREED and Money, just imagine if we had no standards of measure. A foot of anything, would it be mine or yours? Likewise, a cup, a shovel or a barrel of anything would it be mine or yours or does anyone knows what it is? Say you go to a tavern for a beer, with no glasses you would have as much as you could hold. Just like a horse or a camel going for a drink of water at a watering hole. Greed stems from this lack of a value standard. For greater clarity let's substitute food for money. The person with more food must do something better or smarter than the one without food. All other things, timing awareness and opportunity are never equal.

    A million $ of today is nothing to a Million $ of 100 years ago; but if a dollar is the label of our currency can you imagine what it took to save a million back then as to what it takes today? Through the magic of inflation and devaluation, you will be lucky if the million today would buy you half a decent house whereas a hundred years ago it would buy you a hundred houses. To buy a hundred houses today you would need $100 million. Is the man of $100 million today any more rich than the $1 million man of 100 years ago? Understanding this magic leads one to appreciate the standards of measure and value of a currency. Any LEADER that prints fiat money is a traitor an enslaver of his country and of all his subjects. Because he failed to hold the value of his currency as it was when he took office.

    A water vendor buys water at 90 cents a liter. He sales water a $ a liter, he sells 100 liters a day by himself. He earns $10.00 a day. He hires 10 workers to do likewise and pays each $10.00 a day. If he can't make a profit of one to 10 dollar per employee there would be no incentive for him to hire and pay wages. But the moment that some socialist minded individual taxes the water vendor out of all his profits the 10 employees lose their job and go on welfare. So Taxes might seem to be necessary to give everyone an opportunity at a level playing field, when it gets too aggressive it turns the field into a swamp.

    A good measure of cooperation and balance equals harmony. Greed and laziness breeds corruption. The best education is through observation and awareness. Knowledge is the intelligence hidden in all material forms. If E=MC^2, Intelligence = matter in all its forms.

  28. Celeste

    Thank you professor Wolfe! You have provided no alternative solutions. I will contribute my thoughts on to an alternative.

    Capitalism / Socialism, ( + / -) , ( + = - ), (Ying / Yang) Humanity is like an orchestra with a lot of musical instruments. When all play they all make a lot of noise. The only discerning note you can comprehend is the beat or tempo of the band. To enjoy any instrument, you need to have them play separately one at the time.

    A Symphony, under a great conductor, can transform all that noise, beat & tempo, into HARMONY. A flawless performance that raises your mind to a spiritual being.

    Unfortunately, we are MATERIAL beings. We all need the same basic necessities. Food, water, shelter, (housing and clothes) transportation and medical aid and Energy if we are to stay as we are today. The past historical period systems, as indicated above, evolved by Trial and Error. If neither Capitalism nor Socialism solve sufficiently our political, economical system we better THINK SMART! Thanks to BIG DATA, DEMOGRAPHICS and advancement in MATHEMATICS a new system tailor-made to SERVE man is going from the drawing board unto the shelf to be implemented.

    What we ought to realize, how long will it take, for this new formula of cohesiveness, it takes our leaders (if there are any leaders) to become AWARE of this formula? Will it come from INDIA, RUSSIA, EUROPE or the AMERICA's ? I'm most hopeful from the users of big data if this field is not perverted to exploit more of the same as TV and IT have done so far. I see a light at the end of the tunnel, let us pray it just is not a freight train.

  29. josh

    Shareholders do nothing?

    What about the shareholders who finance the start of new companies and take on tremendous risk for tremendous rewards - 8/10 companies die in the first five years. What happens when those companies die? Entrepreneurs owe money to the bank, shareholders lose their investments, and employees lose their jobs. What happens when those company succeed? Entrepreneurs make cash, investors make cash, employees make cash.

    1. mikem

      Josh, you dont seem to know the difference between private or public corporations

  30. Helene

    By the way there are a lot of great financial documentaries out there that explain how this system is failing us. Take some time to watch "97% Owned", "Requiem of the American Dream", "Insider Job", "How to boil a frog", "Four Horsemen". There are just so many...but we are ending this system now..we are on the way. Change is great and truly upon's not's when.

  31. Helene

    The only reason this is becoming more popular is because people are not able to cope with the broken down capitalist system we are now experiencing. We have many private and central banks and printing fiat money...injecting it into our economy and indirectly many bankers and politicians are becoming the most extreme wealthiest and it is leaving the entire world behind. We are progressing towards a hunger games society. People are being persuaded and construed to believe that this is a better process. But in reality people are ignorant and do not know how to beat the giant. Plain and simple. The monster that was created 40 years ago is now beginning to eat it's own self alive. Everything they are saying in this video is a system of a failing society financially and in turn it will affect the world greatly. The sad part is all of these greedy selfish humans who literally destroying the world with their wealth will never bring a dime of it when they die and leave their children in a world of chaos and dust. Humans are their own worse enemy.

  32. CIndy

    Excellent. I wish Bernie was being sworn in tomorrow. We are in for a shitty time in America

  33. Möbius

    Millie: of course that these private school students don't understand why equal opportunities for all children would be a better thing, because daddy pays for everything, including their top quality education, and they don't need equal opportunities. In addition, they tend to emulate their rich parents opinion. Regardless of how good or hard working individuals of a group may be, there will be always a first, a second, a last, even in the situation when they are all geniuses. There are some countries in this world, where top quality education is free for everybody (like Sweden, Germany). The idea that the best selection criterion for being outside of mediocrity, for example being able to access good education, is how much money your daddy has, is a bit strange. The rich child don't have any merit for the fact that his parents have material means, and the poor child don't have any blame for the fact that his daddy is poor. He is not the laziest in society, he don't have a choice.

  34. Millie

    My son attends a private school and without fail, the smartest, hardest working students never can grasp why socialism exists. Odd, right? Not at all. Socialism is the party of mediocrity. It caters to the weakest and laziest in society. And as history has always shown, when other people's money runs out, the idiots get exactly what they deserve.

  35. mike m

    Thank you, Pretorian.

  36. Pretorian_tm14

    For all with no education: read before giving opinions!
    SOCIALISM IS NOT COMMUNISM. It exists today (10.2016) socialists countries in the world, and even more members of EU and NATO. You have no idea that Norway, Sweden, Finland, Iceland, Greenland, these countries there ruled by a socialism (not communism) and trust me they live much better in those countries that any capitalist. Socialism means that the policy makers for the industry and the market take in account THE MANY (not the few) THE HAVE NOTS (not the rich and ). Free market exists and freedom of speech exist but it also exists a very good system of taxation. The very rich get (80% tax) and there is a very realistic and altruistic reason for it: how much wealth do you capitalist need to posses to live happy?
    Think about that!!!!!

  37. DustUp

    Why is it so important for Socialists and Communists to point to a mix of Fascism(Corporatism) and Socialism with [some] capitalism, being the usa, and call it Capitalism?

    Why is it so important for Socialist Communists to blame Capitalism for the problems created by increased corruption provided by increasing Socialism and Corporatism?

    Rather than pointing to any country which few seem to have a clue what system is really occurring in them, just use the definitions of the terms themselves and argue their merits and demerits. No, apparently too difficult, just believe what the Socialist media plants in your head repeatedly.

    Why is it that you need ANY type of govt at all? I don't need one. I don't cheat people. I help people. I don't need govt to skim from any trade of product or service I do with another (that ability to freely trade with another is true Capitalism, anything else is corrupted). Why do Socialists? To force others to pay for what you want? Who then is the greedy? The govt skimmers? Those who want to benefit from others at no cost to themselves? Or the person who just wants to be left alone by all except those s/he chooses to do business with?

    Why do you need me to pay for your "free" Socialist indoctrination(school or education). You can get more and better FREE EDUCATION by going to a LIBRARY (which can be had via the internet these days). No, to lazy for that. Socialism is for those who desire to be taken care of and herded like sheep. Go to those countries that have that if you want that. The usa, before the lazy people allowed it to be corrupted by socialism and corporatism was for those who don't need a shepherd. Why is it so important for a Socialist to force their rule upon those who don't need it? Because if there is a place where people are free to create their own destiny, then you would look evil by comparison, and how would that fit into the "doing good for all" concept?

    If you think capitalism is corruption, what makes you think socialism isn't more corrupt? It is certainly easy to prove if you only dared to look. Capitalism NEVER was about guarantees, just opportunity. If that scares you. Go away. Go to sheep-ville.

    Here is something written years ago by someone who escaped from a Socialist country: The wild hog is captured in a clearing in the forest near the hog trail by building a short length of fence and putting a little free food next to that bit of fence. After some days build another side connected to that fence and the opposite side after some more days of free food which the wild hog is happy to have found and now expecting. Finally build the rest of the fence making a pen with an open gate with extra free food. The hog looks at the pen but sees all the free food and wants it so trots in and the gate is closed while the wild hog is busy eating. The wild hog realizes it is trapped and runs around the pen squealing until it decides there is nothing that can be done and goes back to eating. The next day it squeals because only a small amount of free food. Why to feed much to a hog that is already caught, that you plan to butcher soon?

    All those of you who think free education is so important. When in class, give your high grades to those who didn't do their homework, didn't even show up to class. For that is the Socialism that you love.

  38. Joe Stacy

    I lived in Czech socialistic, I was a taxi driver in Prague and it was a very easy living. I would say we have been the showcase of socialism, as Brezhnev said, and we abuse it. Somehow we Czechs take the best of both system. Free medical care, very cheap gas for cars, rent control, free education and no mortgage and credit problems. We became nation of beer drinkers and after we used all the nationalised factories and private property we say oops sorrry and give it back to capitalistic owners. We take it in revolution in 1948 and give it back to capitalists in 1989, I was already here, in USA, because Russia was afraid we will spoil the socialism with private jobs, so they made military invasion to put Czechs on right way of Marxism. WE have a leader Mr.Dubcek and he manage these 2 systems to work for happiness of all. I think that Mr.Sanders who run for president wanted the same solution in USA. To take little bit from rich and give it back to people. Capitalism have one big advantage it give individuals space to grow with new ideas and products. In socialism individual is part of the masses, they are all happy there are no rich and no poor. But no progress.

  39. William McNew

    The real problem is that Capitalism works as long as there are strong regulations and close observation over corporations / businesses. The problem has been the loosening of those requirements as well as mergers of Banks, Corporations to eliminate competition causing the money for them to flow up with less going to the lower classes. Right now we are sooooooo close to being totally controlled by the corrupt wealth of the Koch brothers and all their followers of GREED.

  40. Chris Kruger

    This title suggests that capitalism is alive in atleast some countries today. Which is a lie, we have a handful of capitalist ideas which are still present, but that is like calling a glass of liquid which is only 5% water, a glass of water.

    Disinformation is a powerful thing. Tell people you have capitalism when it doesnt exist, and people will campaign to remove their freedoms and opportunity due to their own ignorance.

  41. mike m

    why do d*mmies keep commenting on comunisim?
    socialisim is not comunisim.
    sweden is socialist
    cuba is comunist
    dont u d*mmies see any difference!?
    send em to school and they eat the books!

  42. corynski

    What if people were honest, would capitalism work? And if the money system were honest, could capitalism work? It's taken me a lifetime to sort out how the world works and likely still don't have it right. Amazing......

  43. Nihilist

    Why are we given only two forms of organizing labour and society? How about both systems phuck off.

  44. qwert

    USA as a capitalist country? haha its neo facist communist things going out there right now especially since 2001.
    USA economy has no features for capitalism. Every single aspect of life is being regulated and controlled by government. How capitalist is that?
    Karl Marx also said - 'if you want socialism to appear, let democracy happen'

  45. corynski

    Dishonest people will destroy socialism, just as dishonest people are destroying capitalism. It seems there are two kinds of people in the world, there are those who will consume all they earn today, and there are those that will save some of what they earn today for tomorrow. I wish it were as simple as this fellow seems to think........

  46. Brandon

    Marx was incorrect in his predictions, and ineffective as a revolutionary leader.

  47. Nigel

    So many "experts" posting opinions!

  48. bram

    Ugh, he may have some points, but he is also very single-sided.
    Paying $20 an hr, and getting more value in return is not `ripping people off'.
    It is taking a risk, and *hoping* that the new hire will yield at least $20 more of productivity.
    Maybe she will, then again, may be she will not.
    The enterprise could go bankrupt, but the employee still got her money.

    There is nothing wrong with getting paid for taking risk.
    If the pay off for risk gets huge, more people will start a competing business thereby lowering the margin again.

  49. David Dos Passos

    OMG, this guys thinks he's living in the 1800's. He bases most of his theories on manufacturing has become a far smaller portion of the economy than it did before. It's almost the same story as farming did in the early 20th century. The proportion of the value added by the actual manufacturing of an Iphone is less than 10% most of the value of products is based on the intellectual components of them. buying generic goods are very cheap.

    He talks about the Soviet union and how it industrialized but he fails to talk about how it industrialized. This is the core of why Capitalism works. It's like training a dog. there is only two ways that you can motivate or incentivate a person to work. You can one, pay him as you do in capitalism hereby offering a positive incentitive, or you can do as Stalin did in the Soviet Union you can just put a gun behind their heads and threaten them with banishing them to work camps in Siberia.

    To be honest I highly doubt the guy has ever even studied modern economics, This is a communist channel financed by Hugo Chavez to spread his ideas and look how well his ideas worked in Venezuela. To talk about communism in the 21st century after the fall of the iron curtain and the Berlin wall it's absolutely ridiculous.

  50. lulu

    My My. Why not check out Cuba. It may not be utopia but it has free education for all, medical care for all, no starvation and no homelessness. All this in spite of being snubbed and sanctioned by the USA for 50 years. The USA, the bastion of capitalism, has homelessness, ridiculous health care costs, disintegrating education and a horrendous distribution of wealth. Now, if people were more cooperative and not greedy we might be able to take the best of all worlds and create a truly fair and functional world for all.

  51. DustUp

    The only difference between Socialism and Communism is whether the people are fooled into voting for it or put upon them by force. (or similar words) -- Ayn Rand.

    Those who choose to disbelieve that haven't done their homework. They actually refuse to do their homework out of fear there is a possibility they could be wrong. Those controlled by their emotions and played for fools refuse to see it because their ego and world view revolves around feeling sorry for the less fortunate. They have found a way to "feel superior" to the people they are jealous of or consider ogres or greedy weasels. Most people can have sympathy for the truly downtrodden. The emotional unthinking could care less about results or consequences of their actions, just about their feelings. So as they vote for socialist policies and politicians who promise them the things that make them feel good, which actually make things much worse for not only the poor but for everyone else as well, excepting the rich who see great advantage in getting rid of the competition through socialism. What is curious to those who see, is how people are able to not see or deny what is right in front of them, glaring them in the face. Why do they want to believe something that clearly isn't true? That a certain politician who obtained their riches by being in govt doing illegal and immoral things will make their life better by taking(stealing from others).

    This means they have absolutely no ambition to better their standard of living, for if they do they are voting to have it taken away and given to someone else supposedly less fortunate, given to those like the rich socialist politicians who get to skim more, the higher the taxes are. These emotional unthinkers are Not that much different than the rich uncaring greedy weasels who pretend to others they are not, just by saying so. Those who point to another group and call them bad undeserving rich capitalists. While they being "good" socialists lie, cheat, and steal, who have corrupted capitalist nations. Results don't matter to the emotional unthinker. Only feeling good by voting for and promoting the lying(the various Marxist guidebooks try to convince that the ends of utopian socialism outweigh the lying necessary to obtain it, clearly stating that people would never vote for it if they knew the truth, that ought to be a clue to the reader but apparently not for the power hungry socialist promoters) and stealing(taking from those who earned it and giving it to those who did not while skimming more for you and your socialist cronies) but promoted as caring. How can they not see this? Very simple, they were taught to be reactionary emotional unthinkers in socialist schools by socialist teachers. Taught that facts don't matter only feelings. Reinforced by the socialist media. Don't worry mom, our Corprogovtmedia complex is on it and they will fix everything. And they have! They talk up a wonderful thanksgiving dinner. You just don't realize you are the turkey.

    What is wrong with capitalism? Very little until it is corrupted by socialism which is blamed on capitalists by socialists who caused the problems, so they could have something to point fingers, driving a wedge between the people. The founding fathers said in other words that you cannot have a capitalist representative republic (true self governance) without a moral and just people. A moral and just people would find ways to help the truly needy without risking and ruining everyone else. It is a neat trick where the truly guilty can blame others, have people believe and vote for them, making things more corrupt all the while. The Rich Arab Mullahs and Princes have been doing that for decades(except the voting part), getting the poor to blow themselves up or to Jihad against the supposedly evil western nations. No doubt amerika does evil things. Is it any better or worse than what those pointing the fingers are doing? How would you know if you don't do diligent homework? Bah! Just decide out of thin air that the other guy is evil, that is much easier! The simple truth is they are both very wrong and very bad when they do evil things. When you support that, just because that is where you come from, what does that make you?

    Socialism is ready and waiting for the unthinking. If it is so great why not move there, at least temporarily for several years to test it out, isn't that the scientific method, science being the religion of the socialists? To test a hypothesis rather than jumping to the conclusion it is true? Excepting when they appeal to your emotions? Then skip all research, investigation, and testing? If socialism is so great then you will have no reason to move back. If not you will have learned something before deciding to screw up this nation any worse than your kind has already done, to the point it has already become the rot of socialism that socialism promised to fix all the while. Results dude. End results are what count, not your worthless feelings and emotions. Get a clue.

  52. Jordan

    Here is a children's story to explain why socialism doesn't work

    Imagine we have a small group of people, say 1000, who form a brand new society and are pulling a cart with all of their wealth to their new homestead. At first everyone except the elderly and small children can pull the cart. Everyone understands that and doesn't mind pulling a little extra weight as the people who are incapable of doing it just sit in the cart for the ride. Eventually a few people get hurt and sick and also need to ride in the cart, everyone grumbles but figures, well it's only temporary and it's not that much work so we will just deal with it. As the days turn into months the people who have been pulling the cart from the beginning are tired of doing so much work and they start pretending to be sick and injured so they can take a break and ride in the cart.

    Every day the cart gets harder and harder to pull so eventually everyone decides that they form a government that will democratically decide who will pull the cart. Eventually the elected officials discover they can get more votes by promising more and more people that they will have to pull the cart less and less. Finally after many years of pulling this cart over half the people from the group are sitting in the cart now and the people who have been pulling it from the beginning are tired of doing all the work. One night they take some supplies from the cart and run off into the woods to live on their own and all the people in the cart fight and kill each other for whats left.

    The end.

  53. The World

    SOOOO MANY Flawed arguments coming from typical people who teach and dont understand how the world works or more specifically WHAT MOTIVATES PEOPLE.
    So when this guy says give decisions to the worker he thinks that the decisions coming out of them would be better than what 1 smarter person would decide. and that is completely WROOONG.
    Why dont you try converting, Amazon, Tesla, Google... to companies where the workers decide... and look at what your socialism would do.

  54. Cambridge

    Last comment - because it is pretty important. One huge issue is the influence of money in America's corporate environment. Bribery to influence the judicial system, politicians, and the very giving of money to local governments in the name of "economic development" is not helping capitalism. It merely shifts the costs onto the poor - because the corporations having far more influence/money are simply outspending the workers/private landowners/small business/entrepreneur class of capitalism in a winner takes all corporate/government partnership.

  55. Cambridge

    Hi Sasha,

    Funny, there is truth to what you say. People no longer want to work, learn, better themselves. Part of that is polluted culture. The drug culture has impacted the youth's expectations of quick money for no real work, and possible without education.

    Having been an entrepreneur, even I felt less motivated as I saw that more and more of my income was being shaved off for licensing classes, educational requirements in the profession, insurance, and the higher and constant changing technology. "Obsolescence costs" that is keeping up with the rate of change, so to speak, of technology, legal requirements, professional requirements, etc., and the devaluation of the ability to earn % on income earned - all acted to create a neutral benefit of working for one's self. Add to this the high cost of oil/gas/travel - and many businesses / entrepreneurs were finding it was cheaper to not work... hoping that the real estate bubble would correct itself.
    The recent bubbles may have been the product of corruption and not truly an economic cycle.
    Corruption and political influence must be replaced with fair laws and equal playing fields for all of the mechanisms of capitalism to actually work.

  56. Cambridge

    excellent documentary! How wonderful to see intellect shared with the masses!

  57. Cambridge

    Here's the deal: Unions helped to "socialize" capitalism. That is how workers /labor pay rose. Since Unions have been demonized and destroyed by Republicans (who feel that money rights are corporate/individual equal rights) - the corporations have been able to politically eliminate the rights of the workers. So, Republican based corporatocracy unequally disperses government power to the owners of capital - and the workers are slaves required to work for slave labor. That is fascism.

    The problem in this cycle of capitalism is what the speaker first spoke of. Globalization is the problem. Unfair Corporate greed is the problem. If greed were eliminated - globalism would work better.

    Do not forget - socialism owned by government is fascism. Some of the problems with Obamacare - is simply the fascist approach - without dealing with the greed factor of industry.

  58. John

    MICHAEL (owner or investment class,) name 4 or 5 of them for us so we can watch out for them

  59. Sasha

    Ya. So the people who organise the business, create vision, values, make people work - have not earned their money. -_- ???! Not all people are the same. Managing is hard work and not everyone can do it. Rich people are the ones who are managers. They are the ones who work harder than anyone because they are the brains of the organisation and take biggest responsibility. They do not work 7 hours and go home. They work 24 hours. Statement "rich dont know what their company is doing and are just sitting there collecting money" is ABSOLUTELY RIDICULOUS AND ABSURD. Clearly, that professor (with all respect) has no idea how the business in real world works and that means he has no credibility to say a word. If he is into socialism - why not move to North Korea? What? Not very comfortable huh? From my own experience (as a business manager) - people are broke because they do not want to learn, study, work and develop. In all honesty - these days one does not need to go to university to succeed. I attended some of the top schools - but personally know people who know as much as me by just watching FREE YOUTUBE TUTORIALS. These days education is free. These days one can create amazing things if one WANTS TO. So (excuse my language) - go do something useful yourself instead of just moaning. Thank you.

  60. Brian

    We don't currently live in a Capitalist Country by definition. We fit 9 of the 10 planks of Marxism. You Socialist almost have what you want. Are things getting better? Nothing is Free and most can't be convinced of that. Work must be done to sustain life. Not everyone is willing to work. You can be assured there is a string attached to the Carrot dangling in front of you and I can assure you that the Carrot may look and taste good, but it is deadly poisonous.

  61. Leigh Atkins

    Here's a prophecy all the way from Australia for you:
    Even though the American people are finally starting to see how the capitalist system that they've believed in for so long is actually unfair & needs to be changed, & even though Bernie Sanders is showing people this for the fact that it is, & even if 80% of the voting population decided to vote for Bernie's socialist ideas, Hillary or another corrupt personality will still win when the results come in because:
    a) Those in power chose their next corrupt puppet years ago so it doesn't matter what you vote
    b) The technological means for them to bring about their desires to see Hillary in the White House exists now (how do you think George W. Bush got back in, even the Simpsons tried to tell us this).
    I don't care how close a call it is, or how much the people don't want her, Hillary will be the next president - as it is, Donald Trump has only been employed to keep the populous amused & occupied so that the process looks a little more real. Great show but a waste of money.

  62. bluetortilla

    Wow, Intelligent people in a bewildering world spinning quickly out of control. Thanks. I've been a revolutionary since I was 16. The water's fine.

  63. Victor K Nunnally

    Capitalism destroys everything then rebuilds it. It creates the disease then cures it. If you want to get rid of Capitalism then you need to get rid of vanity. The two go hand in hand. I wonder what Communism with Freedom would be like. Or, is that socialism? What does a super computer say when you input the ideal existence for human society. What formula does it produce? I have a feeling this formula is already known.

  64. Ramesh K

    Best example of Communism is West Germany vs East Germany. Communism has more negatives than positives. Millions starved in communist countries. the best thing about it , non one knew. Thanks to censorship .

  65. Achilleas

    So businesses given to the empoyees? Hmm. Its like saying that an engineer that builds a machine must not be payed for his work because the machine works by itself and does no longer need the engineer. Well certainly the speaker addressed some serious problems with the world and with capitalism but what he proposes is not a viable solution for an economy. He is just using the fact that most people hate their bosses so such ideas are popular.

  66. mohammad

    also on the reasons in which we can not describe the Soviet Union as an example of a socialist state, there are many facts which can point it to.1- as the analyst says, at time of revolution on 1917, this country was one of the poorest one between the capitalist countries, it had just 10 percent of workers with accounting of soldiers and farmers.2- according to the Karl Marx's theories, it (revolution) should happened in one of west European developed capitalist country not in Russia.3- also according to the Karl Marx, the working class revolution will not happen up to the time in which all countries through out the world expanded their economic system to the capitalism, and the world wide contradiction between the work and the capital itself, will reach to it's top level of friction and then the system will start to collapse. Russian revolution was not a model of workers revolution and state also was not a sample of socialist state. it was state capitalism which finally joined to it league.

  67. mohammad

    this the very combined and mixed statements which has been lectured during first decades of 21 th century. he is really a universal new left materialism dialectic analyst who answer all complicated questions in a very easy way of understanding words and finally these real documented answers are the absolute solution for the worldwide crises of capitalism, specially for the USA. thanks a lot for the producers of these kinds of videos.

  68. Jerry

    The Philosopher Hegel probably knew the meaning of the Dialectical system that he is given credit for (though he picked it up from another) ... Marx, it seems anyway, took the system down the road of Materialism.

    Materialism, Philosophically speaking, prioritizes that which can be sensed with the five physical senses. Thus Labour and Profit in the form of money become the two chief elements of the "Dialectic".

    The "Mind" then becomes subservient to the more "Material" aspects of perceived reality, the body of workers and the profits to be gained. It all becomes a matter of prioritization, personal viewpoints are relative and the ones in charge follow the "golden rule", he who holds the gold makes the rules.

    Getting back to the Mind, that which is more ephemeral, more Spiritual, shows itself throughout history to be more generous, more benevolent, less fearful and less greedy, thus seeking the best for all rather than only for the self. Such a mind, when fully matured, will know itself as being of GOD (not God nor mere gods).

    GOD as Spirit, is actually the "Third Aspect", the Synthesis resulting from the interaction of the Thesis and the Antithesis associated with Hegels Dialectic. All together repesented by the Trinity of Thesis (+), Antithesis (-), and Synthesis (=). Shown as (+=-)!

    The knowing of the higher truth of such a Trinity (+=-) is the Freedom of knowing, through personal experience, ones place in the greater UNIverse, safe in the "hands of GOD" ... such folks are indeed rare and seldom given much attention by "normal" folk.

    Ther is another "knowing" of said Trinity, the one that comes from a more "negative" place, that of those relatively few who control this world, the "Them" (the .01%) that have thier priorities around issues of power and control.

    It being those 0.01% that are, by their intention and design, relatively invisable to the rest of us mere mortals, making them untouchable and but relative imaginations by the rest of us. "They" have usurped the role of a God, acting as gods in Dividing those under them for purposes of control, our being "used" by "Them" such as in "Conservatives" (Republicans) and "Liberals" (Democrats) who "contest" each other and blame each other for world problems.

    Thus we are kept busy and at each others throats seldom realizing that it is all be design from "above" ... those that really think they know best believe themselves gods, holding the symbol of the (+) Positive or greater relative good, in relationship to their view of all of us below designated by Them as the (-) Negative or the relative worthless.

    Yet we are given down here to each see things Dualistically as in (+/-) where we each prefer to call ourselves the (+)(good) in relationship to "the other" as being the (-) (bad).

    Even our Religions, for the most part, have taken on the mantle of the "Spirit" (God)(+) where the seek a "following" (and Tithes) called the Born Again and "Saved" as supposed (+)s relative to those of us Secular considered relative (-)s.

    The Dialectic is seen by most as Dualism (+/-) where the relative "better" is "on top" divided away from the "bottom" worst. Such is the false view of UNIversal REALity which is Truly (+=-)!

    Dualism (+/-) is the materialistic misunderstanding of the Trinitarian (+=-) Truth of the Spirit of GOD.

    People would do well in understanding this subject because all of reality revolves around the said Truth of Trinity. (+=-)>(+/-)

    IMnsHO and E.

  69. wow

    lol you got over 40 million people starving in the USA Capitalism! lol nothing going to work

  70. Pedro Lanza

    All systems have failed and will fail. Humans are just not ready to have a succesful prevalent model that stands unmutable the test of time. Humans are conflict, competition and domination. We are barely out of the jungle, too recently down from the three. Politically I think the bests results are from mixed models, whenever a given system comes to close to either side of the political spectrum, in the left-right paradigm, it is destined to fail. It either ruins itself economically under a collectivist model, or destroys the lower classes by lacking enough wealth re distribution mechanisms. As in everything in life, the answer is somewhere in the middle.

  71. felix

    Anarchism.... i know, i know the only ideology that all other system despises ..... you will see, one day, if we don't miss the boat, all will understand, to answer @John Hechtman joke, yes there is and it's when human start to exploit itself and not other

  72. Steven

    The free market is a myth. How can you have a free market controlled by 1% of the population? 10 food companies now control 95% of the market. Monsanto controls 90% of the seeds that farmers use to grow their crops. How does a little guy compete with that? How does some little guy compete with established companies like Intel or IBM or Facebook? Only in areas of emerging technologies of innovation and change are they successful. I don't have any answers. I do hope democracy survives. Without it you'll get some idiot like Chairman Mao Zedong making the decision to kill all birds because he thinks they're eating the grain. This led to one of the worst famines in history. I don't want to live under the thought police. And they are everywhere. The pentagon is researching pre-crime. Soon you may be arrested for watching to many of the wrong types of movies. Who knows? We need the critics left right center whatever. We need a system of checks and balances and a populace who has the guts to admit that they don't know diddly squat and will take the time to find out, as best they can what the facts are. To back up their opinions with facts. Who can listen and admit they just maybe wrong. There's no free lunch. Every solution has an up side and a down side. We must as a society decide what we are willing to live with. Right now the system works great for the very very few. Capitalism is evolving. Into what who knows. Soon workers will be replaced by all kinds of AI and robotics. Then we'll see who will have money to buy the goods produced. The problem with socialism like any other system is corruption. The corrupt will always find a way.

  73. delia ruhe

    That is an excellent intro to socialism -- the best of Professor Wolf in 35 minutes. The next time someone demands that I explain myself and my support for the Canadian NDP -- with the expectation of a lively argument -- I will simply supply them with this URL, as it's pointless to refer them to books which they will never read.

    But I will suggest a recent one here: Terry Eagleton's Why Marx Was Right. And while your at it, read John Ralston Saul's The Collapse of Globalism (2nd ed.)

  74. Michael

    A few keep giving the Soviet Union as an example of socialism. First, as Wolfe points out, the USSR never moved to socialism from state capitalism. Those commenting should listen to the full interview before commenting since he addresses that view. True socialism is fully democratic. Now, is capitalism democratic? Not at all. It hides under the appearance of democracy, but it it were democratic, then the people would have very different outcomes since the majority of the electorate would like single-payer health care, would like less discretionary spending spent on war, would like to see education as a right and not make children go into debt to get it (as it once was here), would like to see Social Security being improved and supported not being cut, etc etc on issue after issue. If we were democratic, we'd have it. Capitalism is solely about maximizing profit for the owner or investment class, and to do this must have a reserve labor force and must take more and more of the wages of working people to maximizes its profit. The issue is who is run the world, the profiteers, or the people who do the work. If like billionaires and those who enrich themselves because of stock ownership but don't turn the wheels that make the profit, then if you aren't rich, then you are either a sadist or a self-hater.

  75. Dave

    Hes a dreamer , thinking all workers will work for the benefit of the group. Sorry humans dont work that way, this is what socialists fail to grasp ... We are greedy,lazy and selfish...of course we all want free healthcare and education, its a human right! Not. These idiots should live in North Korea or Laos ... And see the failure of marxism

  76. John Hechtman

    Old joke - but still true:

    A US couple goes to Russia for a vacation. Their Intourist guide says to them. "Beloved comrades from the United States, in your country there is exploitation of Man by Man. Here, in the glorious Soviet Union, it is the other way around!"

    Is there a third way? The fate of the world depends on our finding the (right) answer...

  77. Martha Masters

    A Democratic Socialist leader of a social democracy is the best of all worlds & we know we can have that form of gov't when we elect Senator Bernie Sanders as our next President of the U.S. . Capitalism has evolved to the point that it's now a corporate oligarchy in this country. The greedy, corrupt people w/ the most power have killed our democracy. We need a honest, steadfast Man w/ integrity to be our leader. Very importantly , He doesn't believe in endless wars for profit & believes in free or nearly free education for all, non- profit prisons & equal pay for equal work etc. !

  78. Adam Smith

    His first three minutes talking about philosophy is of course utter nonsense because philosophy itself is utter nonsense. When he identifies existing problems he is correctly explaining them. Along the way he does make some howling errors. The Soviet Union was an abysmal economic disaster contrary to his claim of it being the second greatest economic power in the 1970's.

    The reason that collectivism does not work is because people simply do not work hard for a collective. In a collective you have a population of shirkers. Nobody puts out. With private ownership shirkers get fired. That is why private ownership is essential for maximizing production.

    The real reason that Capitalism is failing today is because people are too stupid to understand what is happening and they have allowed the politicians in both parties to get away with pandering to the fat cats. There are three basic elements that have worked to prevent capitalism from working for the people. 1. Free Trade. 2. Legal and illegal immigration. 3. Defeat of Nationalism. All three of these things were necessary for the fat cats to succeed in depriving the population of the benefits of capitalism.

    Contrary to what the fat cats claim, free trade is not an element of capitalism. Adam Smith in the wealth of Nations simply identified tariffs as a fact of life, and did not advocate free trade.

    THe effects of legal and illegal immigration are simply to replace the existing population with a more compliant and cheaper labor base. IT's impact is obvious.

    In order to get away with items 1 and 2 it was necessary to destroy nationalism, by creating free trade zones like the Eurozone. THe fat cats knew that nationalism would confound their efforts and so they defeated nationalism.

    The solution to the problem is not socialism. THe solution to the problem is to return to the structure prior to the 1990's. 1 . Eliminate free trade. 2. Ban all legal and illegal immigration and enforce the bans. 3. Break up the free trade zones.

    IN this manner Capitalism will once again work for all members of the society, not just the fat cats.

  79. kenderolaj

    Capitalism requires an underdog in order to work. That means I must step on you to get ahead. That doesn't work for me. It is wrong. Communism requires that we all submit to being stepped on by the overlords so we can all get ahead. Again, that is wrong.

  80. Steve

    You don't know what you have until you loose it.
    Marxism/Socialism = chains/salvery.
    I have never seen anyone dying trying to escape from a Capitalist country. Its always the reverse direction.

  81. Roger Andout

    Well that certainly explains a lot to this kid. Most informative. 62 people having all that wealth & influenza.

  82. jim

    Even Sweden has capitalism...They have to get 'other people's money' from somewhere....

  83. Anne

    Ra-in, I believe that was the fault of Stalin, not socialism. It seems to me that no matter how fair and wonderful a system strives to be, there will always be humans (men) who corrupt it due to the fact that humans are basically selfish and corrupt.

  84. Barbara Lyons

    Your short video conversation explained everything that I had questions about. THANKS!

  85. Ra-in

    Tell that to the 21 million Russians staved to death by their government after the revolution ,,,