Economic Update With Richard Wolff: Can Worker Cooperatives Challenge Capitalism?

  1. Richard, You use "9-11" in your presentation in a way that just confirmed my suspicion of you. You are a fraud.

  2. So all this time, over the past four decades of flight capital in the US, we should have been using Eminent Domain to pay off the runaway corporation and turn it into a worker coop. Our problem is selective government spending. The example that Gov. Cuomo of NY granted Alcoa $70 million to stay in upstate NY, while granting 30 coop startups only $3 million shows how one-sided our corporate-controlled government is. The same thing goes for spending on public programs. If government can create money to fund multi-trillion dollar private bank bailouts and defense spending, it can also invest in public purpose.

    MMT (modern monetary theory) explains the truth about "balancing the budget" and how taxes are used (not for federal spending!)

  3. This is interesting, but I would like to hear more about the contradictories coops face, like: hostile competition (economic and political) with big corporations; how they deal with problems common to other small business; work-owners vs worker-non-owners as the coops grow; internal politics (where there is democracy, I would guess there is politics) and so on. Most of all, a gradual creation of cooperatives doesn't seem to provide a path to the hegemony of a cooperative economy. What happens to the big corporations and franchise chains and the workers working in them.

  4. I've got a GREAT IDEA! Mr Wolff should start a small town somewhere and test his ideas out. Form a town, start a bunch of worker cooperatives (which is a great idea) and see how it goes.

  5. Doesn't get around to cooperatives until 30:30

    Great vid and all, but sheesh, I mostly already knew what was covered in the first half and could've done with a ref in the description so I could go straight to the topic/content I clicked for. Friendly advice. 🙂

  6. If you think as I do that prof. Wolff deserves a wider audience, don't you think we all should nominate him for TED talks ?

  7. Wow, there are videos of Dr. Wolff's Economic Updates available, too. Awesome! I thought that most of episodes were released only in audio format.

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