Richard Wolff praises China’s socialist policies during Fox Business’ Town Hall


THE AUDIENCE HAS A LOT OF QUESTIONS FOR THIS GROUP WE’LL START WITH ALEX IN SCHOOL. ALEX, WHAT IS YOUR QUESTION?>>MY QUESTION IS, HOW CAN WE CALL OUR COUNTRY GREAT OR OUR SOCIETY MORAL WHEN A SMALL NUMBER OF WEALTHY PEOPLE HAVE FAR MORE MONEY EVER REQUIRED TO LIVE A COMFORTABLE LIFE WHILE PEOPLE LACK BASIC HUMAN RIGHTS AND HOUSING, HEALTH CARE AND FOOD? CHARLES: GREAT QUESTION. [APPLAUSE] HERMAN YOU’VE BEEN ON BOTH SIDES OF THE EQUATION.>>ALEX, I REJECT YOUR ASSUMPTION, THAT THE ASSUMPTION A LOT OF PEOPLE ARE ABLE TO PURSUE THE SO-CALLED AMERICAN DREAM. I AM AN EXAMPLE. I STARTED WHEN I WAS VERY POOR. BECAUSE I WAS WILLING TO TAKE RISKS, I WAS WILLING TO INVEST SWEAT EQUITY, I WAS WILLING TO CHANGE JOBS MULTIPLE TIMES I WAS ABLE TO CLIMB UP THE CORPORATE LADDER, SO I REJECT YOUR HIGH HYPOTHESIS. WHEN RICH PEOPLE HAVE A LOT OF MONEY YOU DO YOU KNOW THAT THEY FIGURE OUT HOW TO GIVE THE MONEY AWAY TO CAUSES THEY LIKE, NOT THE CAUSES GOVERNMENT LIKES. CHARLES: BIANCA, YOU WORKED AT VERIZON. YOU FELT IT WAS AN UNFAIR SYSTEM. YOU THINK THERE IS ONLY ONE WAY TO RIGHT THIS THROUGH SOCIALISTIC SOCIETY?>>YEAH. WE BELIEVE PUTTING POWER BACK IN HANDS OF EVERY DAY AMERICANS, TAKE A WAY FEW AT THE TOPS THAT HAVE MEANS TO CONTROL THE AGENDA FOR REST OF US. WE WANT A GOVERNMENT FOR THE PEOPLE, BY THE PEOPLE TRULY. CHARLES: WHAT WOULD YOU SAY TO HERMAN, HE STARTED OUT IN THE 1940S IN GEORGIA, WE KNOW WHAT THE CIRCUMSTANCES WERE LIKE, HE WAS ABLE TO PROPEL HIMSELF TO A PLACE. DOES THAT NOT EXIST FOR SOMEONE YOUR AGE?>>I BELIEVE MILLENIALS ARE ENTERING A DIFFICULT ECONOMIC SYSTEM. I CONGRATULATIONS HERMAN FOR HIS SUCCESSES BUT PEOPLE SHOULDN’T HAVE TO PUT THEIR SAFETY AND SECURITY AT RISK IN ORDER TO ACHIEVE AMERICAN DREAM. [APPLAUSE]>>ALLOW ME TO RESPOND, ALLOW ME TO RESPOND TO THAT PLEASE. THAT IS ANOTHER FALLACY IN THE THINKING. NEVER IN THE HISTORY OF THE WORLD HAS A SOCIALIST MODEL WORKED. [APPLAUSE] OKAY? NOW ALLOW ME TO GIVE YOU ONE EXAMPLE. MOST PEOPLE WANT TO POINT TO VENEZUELA AND THEY’RE IN DENIAL. THEY WANT TO POINT TO CUBA, THEN THEY’RE IN DENIAL. HAVE YOU EVER HEARD OF USSR, UNITED SEVEN SOCIAL SIFT REPUBLICS. TRIED SOCIALISM FOR 50 YEARS. WHEN THEY FIGURED IT OUT IT FAILED AND WENT DIFFERENT YEARS. CHARLES: HAVE YOU SEEN EXAMPLES OF SOCIALISM WORKING?>>ABSOLUTELY. BIGGEST ONES WE CAN FIGURE OUT ABOUT. UNITED SOVIET SOCIALIST REPUBLICS. THAT IS NOT CORRECT. UNOF SOVIET REPUBLICS, NOT A BIG MISTAKE. BIG NOT TO UNDERSTAND WHAT SOCIALIST SOCIETIES HAVE GROWN. WE ARE CURRENTLY AS A NATION IN BIG FIGHT, AN UGLY FIGHT INITIATED BY PRESIDENT TRUMP AGAINST CHINA AS YOU KNOW, TARIFF WARS. WENT AFTER BIG COMPANY TODAY. THAT IS A BIG EFFECT. WHY? BECAUSE CHINA IS THE SECOND MOST IMPORTANT ECONOMY IN THE WORLD. CHARLES: WHAT WAS THE FIRST MOST IMPORTANT?>>JUST A SECOND. 40 YEARS AGO, CHINA WAS ONE OF THE POOREST COUNTRIES IN THE WORLD. IT USED A VERY POWERFUL SOCIALIST ECONOMIC MODEL TO DO ONE THING. TO GROW QUICKLY. TO STOP BEING POOR AND TO BECOME WEALTHY. THEY DID A LOT OF THINGS ALONG THE WAY I DON’T AGREE WITH YOU AND YOU DON’T. LET ME FINISH. IF YOU WANT AN EXAMPLE OF RAPID ECONOMIC GROWTH, THEN THAT IS THE EXAMPLE OF OUR LIFETIME.>>CHINA TOOK OFF WHEN THEY ASSUMED CAPITALIST CONNOTATIONS. THEY TOOK OFF, I CAN’T REMEMBER THE NAME OF THEIR LEADER WHO SAID LET 1000 FLOWERS BLOOM. THE 1000 FLOWERS WERE CAPITALIST ENTERPRISES. THAT IS WHEN CHINA STARTED TO BLOOM. [APPLAUSE] HAVE YOU BEEN TEACHING KIDS IN OUR SCHOOLS THIS? [APPLAUSE] OH, LORD.>>I’VE BEEN TEACHING KIDS A BIT LONGER THAN YOU HAVE BEEN TALKING ON TV. ROUGHLY THE SAME. LET ME RESPOND. CHARLES: GET EVERYONE IN. KEEP THE CONVERSATION GOING.>>I WANT TO RESPOND TO ALEX’S QUESTION, WHAT YOU’RE ASKING ABOUT IS INCOME INEQUALITY. I’M SURE THAT UPSETS ABOUT OUR SOCIETY TODAY. I HAVE A DIFFERENT VIEW OF INCOME INEQUALITY. I THINK IT’S A GOOD THING ALLOW SOME PEOPLE THEIR OWN BRAINS, TALENT, ABILITY TO BECOME RICH. YES IT IS. MORE RICH PEOPLE YOU ALLOW THE MORE GROWTH IN YOUR ECONOMY, THE MORE INNOVATION, MORE EFFICIENCY AND THE GREATER PROSPERITY. CAN I JUST HAVE 30 SECONDS? I’M AN EXAMPLE OF THAT. I GOT RICHER IN THE 1990s BY INVESTING IN STOCKS. I GOT RICH, I THEN GOT OUT AND PUT THAT MONEY INTO REAL ESTATE IN CALIFORNIA. BOUGHT DOZENS OF HOUSES OF THE DID THEM UP, RENTED THEM OUT, MADE A PROFIT. TOOK THAT MONEY PUT INTO LAND. I RUN A LARGE TREE FARM. I DON’T KNOW WHAT YOU’RE LAUGHING AT YOUNG MAN, BUT YOU CAN LEARN SOMETHING. I INVESTED IN LAND. I HAVE A PROFITABLE TREE FARM. EMPLOYEES PEOPLE IN VERY DEPRESSED AREA. NOW WITH MY WEALTH, THAT I MADE BY MYSELF, I AM LOOKING AT SIX




Comments
  1. Rich man said I’m smarter then you that’s y I’m rich and you poor… I’m not spending money on ungrateful people… I say if it wasn’t for the poor person believing in your dream you wouldn’t be rich..

  2. HAHAHA, wow Fox News, engaging in debate with 18 year olds who don't have nearly the same exposure you do. Go one on one with Dr. Wolff and get clowned.

  3. I love that lady and the teacher they are so well spoken and rich fuckers were suckers and they teach people how to such too much

  4. I love how trump flat out lies and says he is not the elite he claims to be against. If you're a multi billionaire youre 100% the elite

  5. Herman Cain is an idiot and only a few rise as nd he believes only a few allowed wealth to distribute by themselves

  6. Sociallism does not give you freedom. You become under control of govt. China totally controls its society .China is dependent on US capitalism and now they have to have free trade to survive. They have to open there doors to free trade but since there communist that is going to be impossible.

  7. Richard D. Wolff's net worth is estimated to be in the range of approximately $960237290 in 2019, according to the users of vipfaq. The estimated net worth includes stocks, properties, and luxury goods such as yachts and private airplanes.

  8. Brought up in China and living in Europe, I found western European countries are practically socialist coutries more than socalled socialist countries like China and Vietnam. The issue is not between capitalism and socialism, but between democracy and autocracy.

  9. If this was CNN the opposition would be interrupted , and usually CNN doesn't debate or discuss any other ideas unless its fits their agenda but fox brings the opposition and hears them out and debates and talks with them….. I hope we can all keep having these discussions and debates like this.

  10. Richard is very right in promoting socialism and the other two pro-capitalist penalists too do have some valid points.

    Actually, both absolute Capitalism and absolute Socialism are evils. What is needed is a heavily mitigated capitalism or a slightly loosened socialism that rewards reasonably, if not also equitably, individual initiatives and extra toils.

    Americans would be in the right track, if appropriate adjustments could be made !

  11. The problem with government is that they are extremely inefficient in allocating resources. All Big socialist becomes a big corruption problem. China isn't a socialist country. It was a socialist but it didn't work due to huge corruption. That guy has zero knowledge how China is run. Tons of democrat think socialist is the solution of USA. They should spend more time understanding how Human society works. Karl Marx meant well for the world. but his perfect idea is a total failure in a flawed human society. People are greedy and if human get free stuff, they never work and engage into sweaty work to grow the economy. They will just sit at home eating burgers and watch football and go to the bar to drink until they become fat that they will need to get free government 100k worth of medical care to fix their obesity until the wHole country goes bankrupt.

  12. People's Republic of China is successful model.Socialism is the Right path for China.That's the verdict of History.

  13. Idiot only want free hand out . Nothing free in America since I came to America close to many many years ago. Someone is pay for your free health care , free tuition , free housing and free whatever. You think the government pay for your lazy axx unemployment and mentioned above . We the tax payer pay for it . So don’t say socialism is good . I live in socialism world . The government take all your land and give it to the party in which is themself and while you the rich now become the middle class , the middle class become the poor , the poor like most of you lazy axx will become the homeless . Guess who become the rich ? The socialism party will be the rich . Like communist 101 ok . Smart enough work hard and you will earn any penny and is your that what we call capitalism. Be stupid earn every penny and you hide it or taken away that call socialism. Take your money spread to the party not the people but the party ok . Trust me you won’t like it . Idiots kid in school these days want to go expensive college but does not want to pay after graduation. So they want us tax payer pay for them. But they don’t realize one day they will be tax payer like us . So nothing better than been capitalism trust me . You thanks me one day . Asian for Trump 2020 baby !

  14. Socialism didn't give China growth. We gave them our wealth by buying so much for them. Individuals don't have rights, just low pay work, under socialism.

  15. The only reason college kids are socialist green dummies is because they don't own anything yet, 5 years later they're like 'you ain't getting my money' 🤣

  16. Millions of Chinese workers live on site at the factories where they work. Slaves really. All so the corrupt nuevo rich can become richer. I can see the appeal for the left wing.

  17. China’s Government got out of the way in order allow capitalistic economic ideology to grow their economy. China’s Government understood not to bog down their economy with communist/ socialist ideology.

  18. China has 4 times population as the USA. 60 times as Australia. If you are one of whom complaining morning traffic in Melbourne or California. In China that's 4 times challenging. In 1949 after WW2, China was left with not just damaged Cities, but also nearly 300 million uneducated ppl. ( Europe or Japan doesn't ) Now normal citizens' living standards is not much different as western societies and people are highly educated. Our infrastructure is amazing see how much the government did for us. I don't know why there are so many hatred comments to Chinese socialism. It's hybrid of capitalism and pure socialism and works. The government doesn't get exhausted in election actually doest more talk than action. Be fair guys, we are not perfect, so do democracy.

  19. China explicitly followed the Chilean model of shutting down political freedom while opening up economic freedoms. That is not socialism, that is political repression and crony capitalism.

  20. Richard Wolf needs to go back to school, there economy didn't grow until Nixon making a trade agreement with the U.S. then they undercut western business for production also make short cuts on factory operations to produce products.

  21. That kid Alex needs to get smacked for laughing at the other gentlemen when he was speaking. Geez! Have a little respect!

  22. China has been stealing our wealth that's how they grew to become the 2nd largest economy in the world. But hey just like a socialist you should expect him to be okay with stealing other people's hard earned money.

  23. China is not socialist… it is fascist. Fascism is an illusion of capitalism where you get rich then the government takes away the riches and jails you. They can pay lip service to socialism and karl marx, but karl marx wrote about externalities and sharing the cost of pollution and benefits of harvesting raw material from the land like oil. China doesnt have social welfare on the same level as the west, and they pollute like they will die tommorrow anyway.

  24. Being rich isn't the problem, I think the people on the panel misunderstood. Its what some choose to do with it that hurts other people. Its a blessing to be able to invest, work hard and prosper as much as you can, that's not a bad thing.

  25. Ive Heard Prof Richard Wolff perpetuate China's rise to an economic power house because of socialism but he never mentions the trillions by foreign capitalist

  26. They are a Communist Nation and have nothing to do with Socialism. Unless you have my view that Socialism is the economic arm of Communism. If you really look at China is a Dictatorship not a Communist Nation.

  27. The problem is our education system and the individual that says he has been teaching them proves it's just an indoctrination institution not and place of learning, that and that young man promoting Socialism, proves it.

  28. Every thing jewmerica has is from China everything trump has is from China , his hats his wig his golf bags and clubs his shoes his suits his office phones computers , all his furniture in trumps towers ,

  29. You know gays, there is bunch of split personality crazy man running atound. When is not to buy Huawer, China is comunist dictatorship. And when we are talking economical success, China is a capitalist country. Gentleman, please make you mind!

  30. I give Fox news major points for doing a Socialists vs Capitolists town hall that any other news networks would shy away from; However I have serious concerns why they put a random DSA footsoldier up against paid Fox hosts that have their talking points memorized. This was clearly fixed debate meant to cast shade on democratic socialism. Richard Wolf alone will spank all of Fox New's pitbulls.

  31. Boomers don't get what we Millenials are facing today. When I complained I felt trap by my work, the reply was "I worked as a waitress the whole summer to earn my tuition!" Well, we have to work for the whole year and still not enough to pay for our tuition. Just a reminder: my time away from work is not my time off, it's school! They boomers enjoyed the golden-age of capitalism when growing up and think it's all personal fault that we are in hardship. Well, no, it's a different game now. If witchcraft reduces these guys back to 20 yr old, their "personal experience of success" from back then will be more of a curse in nowadays society. Those boomers who are really entitled should just fk off.

  32. The more the CCP keeps deleting my comments, they have done it 5 times now alone on this video, the HARDER I fight back

  33. Ok, CCP deleted my comments for the 6th time on this video. If they aren't deleting them, at the very least, they are making it so I can't see them. Ok. So be it

  34. In Singapore 90% of the population lives in state built and maintained housing. The largest employers are state owned/linked companies. The healthcare is a public/private mix where state healthcare providers compete with private ones. How socialist is this? You be the judge. But one thing is clear per capita GDP is higher than the US (PPP already for the past years, and nominal will probably exceed this year). Life expectancy, infant mortality etc metrics all compare favourably. Are socialist policies really so bad? Your 1% would certainly like you to believe so.

  35. No socialist model has worked I guess I think you're forgetting about one major country known as China the country that might become the next major Powerhouse

  36. The policy formulated by a country is based on the national conditions of the country. So why is it so simple to define socialism vs capitalism? Is China absolute socialism? Why has it been so long, it has not been understood, China is only “realism”. Genius politicians.

  37. Any system will create a hierarchy, the only difference is the people able to take advantage of it… If you are not currently prospering from the current system, it's not working for you!…understanding your own self-interest seems impossible for most Americans…the ideologues on both side set the agenda and the masses just blindly follow. They're good at making the arguments no doubt not so much when it comes to helping people who are not in a position to play their particular game… I'm on the right side of politics….love America….but lads some things are just not working…and we need to talk…

  38. These rich capitalist are doing the far left a favor lol Life struggles shape most political views. The greediness of the capitalist system paved the way for the millennial generation to be more informative and educated about socialist ideals. Generation Z is following suit with rage against the greediness of the NRA.

  39. If you are a Socialist….why have you not yet immigrated to a marxist country? If it's so great…..why not?

  40. When herman cain felt the need to rely on hyperbole such as "…in the entire history of the world" to inflate his feeble argument against socialism, he was counting on most people in the audience being ignorant of the fact that this so-called "entire history of the world" only meant the last 100 – 200 years. As expected, most of the audience clapped. Logically speaking, even without looking at the success of Chinese socialism, even if one were to blindly accept the premise that socialism had never succeeded, just because it had not "succeeded" in the last 100 – 200 years does not mean at all that socialism cannot succeed in the future. Conversely, just because a system had succeeded in the past does not mean that it will continue to succeed in the future. For example, feudalism had succeeded for a much much longer period of history than capitalism have been in existence. But that doesn't mean we should go back to feudalism. But according to herman cain's logic, feudalism could be a viable option too. Ridiculous!

  41. We are trying to understand realities in a systematic “ism” solution so it always works for us. But reality doesn’t follow a single system or any. That’s why there’s no single “ism” that works on everything. So u can’t lock urself in a single ideologic view and expect it to be perfect. Every system/ideology/“ism” works on certain issues. What u c in this video is ppl who got stuck in a system reject the obvious issues and just look at its strength and guess what? We have issues which no one has answer to that! We should first go outside the system, understand the problem and then apply specified solution to the problem. An example of capitalism which doesn’t work and is toxic is trying to solve security issues with purely capitalism way! Result is military industrial complex routes country to unlimited useless wars to reroute countries income for itself. And there’s many examples that works but we shouldn’t limit ourselves to isms.

  42. The editing on this is something the Chinese Communist Party would be proud of. Wolff went on to say he didn't endorse Chinese socialism or government control but merely refuted the fallacy economic prosperity couldn't be achieved with 'socialism'

  43. Stuart Varney shows his hypocrisy when he say, "….with the wealth I made myself…" after saying he employed people in "depressed" areas, using traders on the NYSE, using trades people and a support staff to operate a property management company. He didn't "make wealth", he extracted value from a lot of people to make his money. Greed makes people stupid, ignorant and dangerous.

  44. Richard Wolff is exactly right in his points. Under Mao’s China life expectancy rose from 35 to 63, population increased 550 million to over 900 million, & it established a strong agricultural and industrial base, that is the backbone of its economy today & made China a major player on the world stage rather than just a “sleeping giant”. Compare China to a similar country like India, China is much more developed and its all thanks to Marxist theory.

  45. Both pro-capitalists presented themselves as proof that capitalism is great. Well, then, all the poor and homeless people are proof that this system is rotten to the core. Since there are more poor people than there are rich, capitalist side loses the argument.

  46. Any ""ism"" ( capitalism, socialism, communism, etc.) can be great or totally suck….. depending on the leaders. They are useless, senseless, terms once corrupt liars take over.

  47. I was in China last year and just returned from Vietnam. It's crazy to think how any sane human being could think that socialist policies was what led to their vast economic growth. Even North Korea is slowly introducing market based practices because they know socialism is a failure that cannot generate wealth. Socialists need to get real and academics like Wolff are nothing but talking heads.

  48. Haha this is pure propaganda hour. They clearly learned their lesson after Sanders and THOROUGHLY stacked the audience.
    The revolution is coming, and time is up for wealthy parasites.

  49. This is a terrible format to discuss Socialism. America has shut out Socialism from the discussion for nearly a century. There's a lot to unpack. Even most "democratic socialists" dont truly understand Socialism. If you're a capitalist and you wish to truly understand the other side of the argument, look at some of Richard Wolff's lectures. He can actually go in depth, not get interrupted by Fox News hacks, and it will really open your eyes.

  50. Latest USA innovation is stock buy back to get the CEOs rich by screwing their businesses and share holders

  51. Socialist model has not been used. It's about people owning the means of production and producing for people's needs.

  52. This imbecile lol Let a thousand flowers bloom was not a reference to "capitalist enterprise". Can't believe no one called him out on that.

  53. "With my wealth that I made by myself," literally said right after he said he employed a bunch of people in a depressed area. Guess what, it's the laborers who produced all that value for you. The guy at the end has an incredibly smooth brain.

  54. It's funny how capitalists in America are always so quick to laud any of the economic achievements of America, yet don't acknowledge the countless global atrocities and human rights violations committed by their own state, nor extreme poverty rampant through their own walls. Literally funding genocide in Yemen and Palestine.

    Yet, as soon as China comes up – a nation that by every economic growth metric has outperformed the US – all these goofs turn into Mother Theresa, worried about Tiananmen Square and Tibet.

  55. He never praised them! These are lies. All he did is say that socialism has worked around the world! It's true China is socialist and it's true they have seen economic growth. He said nothing more!

  56. Anecdotal evidence (I'm an example 0:36 4:46 ) is insufficient evidence to justify the exploitation of workers and the fascist monopolistic practices of capitalist enterprises.

    0:43 Risk is taken by everyone. The workers arguably put more risk into their job than the owners. If they lose their job they can lose their only house, medicine, transportation. If the owner puts in some their money; insurance, tax refund, and their other wealth creates a safety net for them to take that risk. The workers doesn't have those safety nets. Risk is an insufficient argument to justify the exploitation of workers and the fascist monopolistic practices of capitalist enterprises.

    0:50 "rich people are so great because they give some money to the poor" The workers generate the surplus wealth and the rich owner decides where it should go. If the workers retained the wealth they create, the environment would keep more people from starving than the gifts from the rich do. Walmart in 2018 made 500 Billion dollars. To end world hunger it would cost 30 Billion. They are not giving that much away. Multiply that by every profitable business in the world. If the worker gets the wealth they create then all you would have to do is work. But that's not what happens. If you work a full time job for min wage, there is nowhere in the US that you could afford the rent.

    02:06 Never ever? You promises? Denmark, Iceland, Norway, Finland, Sweden, Venezuela, Alaska, United States of America. 
    The premise that it has never worked is utterly false. It's works, it is working, but it is not invulnerable to attack from fascist types like capitalism.
    Just know this, the very basic definition doesn't mandate a state to exercise socialism. Just the community as a whole. The whole 10th st community? The whole city community? The whole world community?  Any invested interests, the workers, the surplus producers are the community.  

    These Fascists on Fox are repulsive. They are missing the empathy and sympathy that is critical to humanity. They must be destroyed (metaphorically buy educating people).

  57. sometimes, China is a communist country and American keep criticizing.
    sometimes, China is Not a socialism economy and it is capitalism on the way.
    what is wrong with China?
    OR, what is wrong with u, American?

  58. the guy was rude in cutting Dr Wolff off when he was about to give the audience details. what's he's afraid of?

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