Richard Wolff: Capitalism is holding “all of us hostage”

The COVID-19 pandemic has changed the nature of work and the lives of working people in drastic ways. Millions of workers lost their jobs over the past year and a half, millions more saw their in-person jobs reoriented to remote work, possibly for good. While there is a lot of discussion right now about what the future of work will look like after COVID-19, it’s important to understand how the pandemic accelerated existing trends in the economy that have been remapping the terrain of work and the makeup of the working class over the past half century. In this special video edition of Working People, TRNN Editor-in-Chief Maximillian Alvarez talks with world-renowned economist Richard D. Wolff about what these trends tell us about the global evolution of capitalism and how we can forge a diverse working-class political coalition in the 21st century that is capable of building a political and economic system that works for all of us. Richard D. Wolff is Professor of Economics Emeritus at the University of Massachusetts, Amherst, and a visiting professor in the Julien J. Studley Graduate Programs in International Affairs at the New School in New York City; he is also the founder of Democracy at Work and host of their nationally syndicated show Economic Update. His latest book is The Sickness is the System: When Capitalism Fails to Save Us from Pandemics or Itself. #RichardWolff #Capitalism #COVID19 #WorkingClass

Studio: Adam Coley

Post-Production: Adam Coley

Help us continue producing radically independent news and in-depth analysis by following us and making a small donation:

Sign up for our newsletter:

Like us on Facebook:
Follow us on Twitter:

** (Disclaimer: This video content is intended for educational and informational purposes only) **

The Real News is a viewer-supported media network bringing you the stories from the frontlines of the fight for a better world.

Author: phillyfinest369


20 thoughts on “Richard Wolff: Capitalism is holding “all of us hostage”

  1. US politicians and corporations, who couldn't care less about Americans, sold them down the river without a paddle for money and greed. The US Government (paid off by lobbyist) abandoned its own citizens to enrich themselves and corporations.

  2. Working class consciousness has been demoted behind identity politics, racial chauvinism sectarianism etc

    And given the working classes tend to be conservative, many leftist ultra liberal movements feel like so much self harm.

    We have to deal with the working class as it is, not how it might be following a 100 years of reconditioning.

    And there seems to be an odd contradiction at play, unique in history; wherein as the working class grows more conservative, society moves in the opposite direction. In the past, progress moved in tandem throughout the society, or at least didn't meet with significant opposition from the working class, whereas now class divisions are increasingly underpinned by socio/ political schisms. E.G. Black and Latino working classes for Biden/ white working-class for Trump. Perhaps somewhat of an exaggeration, but nonetheless a ball park we are fast approaching.

    The kind of politics familiar from the odd sectarian, balkanized country or region, a balkanization that now seems to be spreading out to envelop much of the globe.

    Which probably speaks to changing demographics created by globalization – as the reasons why such regions as N Ireland, Yugoslavia, Iraq became so polarized is due in large part to religious and ethnic schisms approaching demographic equinumerosity.

    In other words, the schisms are split between equal numbers of people, or else are approaching equal demographic strength.

    Problems of balkanization can of course be overcome by skillful and careful leadership, and economic development, such as in Tito's Yugoslavia. However, the evidence clearly shows that democracies tend to fail in countries with big demographic divides, as reactionaries on all sides are free to whip up trouble. Pretty soon such states fall into stasis and sectarian violence, as democracy just compounds the fears prevalent in the demographic splits.

    Which doesn't bode well for the future of democracy in the US, or, for that matter. in any country approaching demographic equinumerosity

  3. Wolff has a Deranged viewpoint, its very depressing. I don't think it helps anyone thrive or succeed. I've seen him talk so many times and its Stale.. nothing left. he should really just retire.

  4. You go to work to make a profit, tooi.

    But hey, if you don't want to work for them, try learning to do math and make good decisions, and learn to do something useful.

    The thing is, if you let the people who can't think run businesses they can't understand, they run it into the ground very quickly, and then nobody can produce and everybody starves.

  5. Oh, yeah, too much freedom is the problem


    If we would just obey the psychopaths who want to control every aspect of our lives, we would be fine.

    We just need to stop thinking that we have a right to make our own decisions.

  6. Listen to Richard he's not saying we become Commies hes explaining a different way of looking at thing's. If We take the best things of different governmental systems.. A We the People vision of Things 🤔😁🖐️

  7. Don't you understand that it was all a lie? Come on, Bill Gates invest millions in vaccines, then he gives millions to WHO who declare that there is a new dangerous virus and the whole world must stay at home, where masks until they all has taken his vaccines. Can't you put 2 and 2 together? Can't you think or are you also in his pocket?

  8. John Sununu as Chief of Presidential Staff under GW Bush started the habit of politicians consuming the taxpayer’s money for political junkets ad official trips that since then every new generation of politicians consumed more of economic surplus increasing the rate of underutilization of society’s resources is the chief cause of America’s high volume of unproductive labor and inefficiency.

Comments are closed.