Channel: RichardDWolff

Category: News & Politics

Tags: occupy the economythe sickness is the systemcapitalcompetitioninflationexploitationunderstanding socialismmonopolycapitalismjusticeunderstanding marxismcapitalistswealthworksocialismmarxeconomycorporationslaborbideninequalityeconomicseconomic justicedemocracy at workeconomic democracy

Description: In this Wolff Responds, Prof. Wolff pushes back against President Biden’s recent statement in which he blames monopolies for the current inflation and calls for an increase in competition. Monopolies have always existed under capitalism, with and without inflation. Competition is built into the capitalist system and creates monopolies. History has shown us that neither competition, nor monopolies solve inflation. Inflation can, and should, be brought under control through governmental policy, but it will never go away until the system in which it exists is dismantled.  Wolff Responds is a @Democracy At Work production. We provide these videos free of ads. Please consider supporting our work. Visit our website democracyatwork.info/donate or join our growing Patreon community and support Global Capitalism Live Economic Update with Richard D. Wolff at patreon.com/gcleu. ___________________________________________________________________________ Check out the NEW 2021 Hardcover edition of “Understanding Marxism,” with a new, lengthy introduction by Richard Wolff! Go to: lulu.com/en/us/shop/richard-d-wolff/understanding-marxism/hardcover/product-7zr2y4.html?page=1&pageSize=4 “Marxism always was the critical shadow of capitalism. Their interactions changed them both. Now Marxism is once again stepping into the light as capitalism shakes from its own excesses and confronts decline.” Check out all of d@w’s books: "The Sickness is the System," "Understanding Socialism," by Richard D. Wolff, and “Stuck Nation” by Bob Hennelly at lulu.com/spotlight/democracyatwork ___________________________________________________________________________ Follow Wolff ONLINE: Patreon: patreon.com/gcleu Web: rdwolff.com Twitter: twitter.com/profwolff Facebook: facebook.com/EconomicUpdate facebook.com/RichardDWolff facebook.com/DemocracyatWrk Subscribe to the EU podcast: economicupdate.libsyn.com Shop for EU merchandise: democracy-at-work-shop.myshopify.com