Read time: 1 minute

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,

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).

Can you help us out?

For 17 years we have been exposing Washington lies and untangling media deceit, but now Facebook is drowning us in an ocean of right wing lies. Please give a one-time or recurring donation, or buy a year's subscription for an ad-free experience. Thank you.

Discussion

New Commenting System

Our comments are now powered by Insticator. In order to comment you will need to create an Insticator account. The process is quick and simple. Please note that the ability to comment with a C&L site account is no longer available.

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service (revised 3/17/2016) for information on our posting policy.

Please Do Not Use the Login Link at the Top of the Site.

In order to comment you must use an Insticator account. To register an account, enter your comment and click the post button. A dialog will then appear allowing you create your account.

We will be retiring our Crooks and Liars user account system in January, 2021.

Thank you.
C&L Team