Capitalism And Class In America

Economist Richard Wolff explains the weaknesses of capitalism and the need for Americans to understand the system under which they live and work.

There are many problems associated with capitalism (state capitalism): wage slavery, concentration of wealth and power, undermining of democracy, repression of curiosity and creativity, environmental destruction, the boom and bust cycle (over production), economic depression, promotion of competition over cooperation, isolation of individuals from society, consumerism, escapism, apathy, emotional instability, political corruption (cronyism), suppression of science and technology research due to short term profit motive, personal debt, crime, violence, war, etc.

The strength of capitalism is its ability to produce enormous wealth (surplus), but this is only possible through state capitalism (government control of the economy).


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