How Capitalism is Killing Itself

How Capitalism is Killing Itself

2016, Economics  -   95 Comments
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Ratings: 8.05/10 from 432 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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Comrade JC
Comrade JC
3 years ago

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.

concerned citizen
concerned citizen
3 years ago

Satoshi gets it.

Read the post below.

Satoshi
Satoshi
3 years ago

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.

Tatjana
Tatjana
4 years ago

Wonderful professor. Good job!

Gigemall
Gigemall
5 years ago

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 ...to 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?

joe hono
joe hono
5 years ago

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

Howard
Howard
5 years ago

Every time we a Republican president, we have Recessions.

lance
lance
5 years ago

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 ??

Lance
Lance
5 years ago

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

lance
lance
5 years ago

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

Damian
Damian
5 years ago

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!!!!

RalfatMarx
RalfatMarx
5 years ago

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.

Mic
Mic
5 years ago

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.

Geo
Geo
5 years ago

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.

James
James
5 years ago

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

James
James
5 years ago

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!

ZombiesVsInventors
ZombiesVsInventors
5 years ago

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.

gabriela
gabriela
6 years ago

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 ...

DustUp
DustUp
6 years ago

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?

DustUp
DustUp
6 years ago

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?

DustUp
DustUp
6 years ago

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.

Gus Brum
Gus Brum
6 years ago

Great lecture by Mr. Wolff. Absolutely enlightening.

M. Riaz
M. Riaz
6 years ago

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.

Dan
Dan
6 years ago

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.

VSky
VSky
7 years ago

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.

DustUp
DustUp
7 years ago

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.

Celeste
Celeste
7 years ago

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.

Celeste
Celeste
7 years ago

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.

josh
josh
7 years ago

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.

Helene
Helene
7 years ago

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 us..it's not if..it's when.

Helene
Helene
7 years ago

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.

CIndy
CIndy
7 years ago

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

Möbius
Möbius
7 years ago

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.

Millie
Millie
7 years ago

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.

mike m
mike m
7 years ago

Thank you, Pretorian.

Pretorian_tm14
Pretorian_tm14
7 years ago

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!!!!!

DustUp
DustUp
7 years ago

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.

Joe Stacy
Joe Stacy
7 years ago

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.

William McNew
William McNew
7 years ago

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.

Chris Kruger
Chris Kruger
7 years ago

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.

mike m
mike m
7 years ago

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!

corynski
corynski
7 years ago

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......

Nihilist
Nihilist
8 years ago

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

qwert
qwert
8 years ago

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'

corynski
corynski
8 years ago

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........

Brandon
Brandon
8 years ago

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

Nigel
Nigel
8 years ago

So many "experts" posting opinions!

bram
bram
8 years ago

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.

David Dos Passos
David Dos Passos
8 years ago

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.

lulu
lulu
8 years ago

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.