Amazing Speech about our Economic and Political Mess (and How to Fix it)

Here is the most amazing speech exposing the root of and cure for all our man-made problems in politics and the economy. Inequality, crushing debt, money in politics, devastating decisions — all derive from this root cause and can be fixed as described. This is the education of a lifetime for you or any confused people you know. The video is a must-see for every responsible person. Therefore I will point to it repeatedly, so you don’t miss it:

(Note: if the video linked above gets deleted, you may search the Internet for the title: “Economist Richard Wolff speaks about capitalism, socialism & democracy, proposing a new way forward”)

Economist Richard Wolff, talking shop (having been part of the old-boys-club of the upper class, sitting with them at Harvard, Stanford, Yale, and in privileged board rooms), gives you the full story on how our economic and political mess came to be and what we must do to create a fair and sustainable economy and a true democracy.

I have been writing about the same things he describes and will continue to do so. The difference: I can’t expect anybody to read an hour-long treatise; so I can deliver the truth only a spoonful at a time (until I write my book about it, should I ever find the time). But listening to an hour-long passionate and gripping speech that rains one aha moment after the other, isn’t hard. So, do listen to it as soon as you can and share it with everyone! Make sure you can concentrate and hear everything.

Are you worried about click-bait and want to get an idea of what Wolff’s speech is about before you arrange for an undisturbed hour and click on the play button? Well, it describes what really happened in the closed board rooms during the 2008 World Economic Crash. It describes what happened earlier during the Great Depression, the New Deal, and the plutocratic backlash. It explains how the concentration and abuse of wealth is built into our system (handing all the decision making power to a few unaccountable, self-serving individuals who unsurprisingly abuse that power to keep the system warped) and the steps we can take to solve the problem at its root, cleaning up politics, eliminating massive inequality, and greatly improving our places of work. These steps are various established methods for – in essence – making the economic system as democratic as we would like our political system to be. This will end the plutocracy at its source and thus its constant gnawing on whatever democratic political institutions and fairness laws we erect or political representatives we elect. In short: democratize the economy and defund the plutocrats as opposed to letting them continue to defund our lives and undermine our representation in government. And Richard Wolff is passionate enough about it all, that you don’t have a monotonous droning of an economics lecture here, even as understanding economics is at the heart of understanding our problems. The economics of our society was rarely so exciting and easy to understand. I think this is the best video relevant to our economic and political troubles that I have seen to date (and I have seen a lot). I more than warmly recommend it. I urge you to watch (or hear) it and share it with everybody!

Our fight for clean and representative politics is like fixing a broken bridge, and the structural flaw in our economy which Richard Wolff describes so well is like a troll under the bridge who keeps chipping away at the masonry. To really succeed, we must fix them both.

Thank you for looking into this post. I hope you found time to listen to this phenomenal speech I dug up for you. Please share and discuss it with everybody you know. And if you wish to tangibly support my efforts, as of recently, you can do so at this link.

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4 thoughts on “Amazing Speech about our Economic and Political Mess (and How to Fix it)

  1. Excellent talk. At 6:20, Wolff mentions that UKMC and Keynesian economics failed, but I would argue that it’s been the UNDER utilization of the teachings out of UKMC (MMT) and Keynesian-advised government fiscal intervention that has been partially the cause of our stagnant recovery this past decade.

    In this age of flight capital, the need to impose eminent domain by the workers to pay off the runaway corporation and create a worker co-op is becoming very obvious. The problem is selective government spending.

    The example that Gov. Cuomo of NY granted Alcoa $70 million to stay in upstate NY, while granting 30 co-op startups only $3 million reveals the imbalance of priorities.

    If a government can create money to fund multi-trillion dollar private bank bailouts, corporate subsidies and defense spending, it can also invest in social programs and EQUAL co-op subsidy support.

    Economic Update With Richard Wolff: Can Worker Cooperatives Challenge Capitalism? (Begins at 30:30): https://www.youtube.com/watch?v=tJWQfGAshMg

    Like

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