"The wealthy, not only by private fraud but also by common laws, do every day pluck and snatch away from the people some part of their daily living. Therefore, when I consider and weigh in my mind these commonwealths which nowadays do flourish, I perceive nothing but a certain conspiracy of rich men in procuring their own commodities under the name and authority of the commonwealth.

They invent and devise all means and crafts, first how to keep safely without fear of losing that which they have unjustly gathered together, and next how to hire and abuse the work and labor of the people for as little money and effort as possible."

Thomas More, Utopia

Saturday, October 18, 2008

The Crisis of Capitalism

Professor Richard D. Wolff of Amherst on Capitalism as it nears the cliff (courtesy of Lenin's Tomb).


Anonymous said...

A question I would have asked Mr. Wolff....What was the reason why America was so dominant from 1870-1971? Was it marxism, communism or free market capitalism?

I will not discount much of what he says regarding where this country has gone since 1971 because he is quite accurate in his assessment.

I will argue the causation. I believe it has more to do with globalization then anything else. If a company can make a product in America and it costs them, for the sake of argument, $25/hr per employee and they find they can make it in China for $1/hr and transport it across the world at a cheap enough price then what is stopping them?

Another question that comes to mind is he does not take into account the human factor. Every form of government is susceptible to human frailties such as greed. Greed and immoral behavior and POWER are why we find ourselves in this mess. I do not care if you talk about capitalism, communism, fascism, libertarianism they are all susceptible to it.

I would much rather have a form of government which cherishes individualism then collectivism any day, even with its inherent risks of failure and manipulation. For one thing is for sure, if you give up your rights to a collectivist form of government you will only get them back by war and death. For those in power are going to do the EXACT same thing that has happened now.

Critical thought seems to be lost in this world and I hope young people will realize that this man is just as wrong as the ones who got us in this mess, maybe worse because he is an idealist who wishes to impose communism on the people of this nation. And as we all know communism has FAILED in EVERY instance. The only thing communism does is make everyone equally poor and downtrodden. All this while it consolidates power to an elite few, much like what is happening now EXCEPT we now have the power as citizens to VOTE THE BASTARDS OUT.

Coldtype said...

"And as we all know communism has FAILED in EVERY instance"

I'm afraid communism has never been given a opportunity to exist--anywhere. In any event the bankruptcy of capitalism is no longer in doubt to all but the willfully blind.

Rue St. Michel said...

Did you notice that Mr. Wolff looks suspiciously like Dick Cheney?

Do you think that "the dark Lord" has adopted a pseudonym and is trying to infiltrate The Cause?

Coldtype said...

I don't think so Rue. How's Lord Vader doing by the way? Since Wall Street imploded I've seen neither hide nor hair of the man. The ticker holding up?

Rue St. Michel said...

He's still working behind the scenes, setting up human sacrifices at the Bohemian Woods.

You know, same-old, same-old.

Here's a good article on what he's been up to lately.

The Dark One's work never ends.

Coldtype said...

There's no doubt that this is a fake story for we all know that if Cheney happened upon a homeless man begging for spare change he'd bust a cap in his ass.