Malaika Jabali. We discuss her newly released book "It's Not You Its Capitalism" https://youtu.be/7eRBl7quf1g?t=901
@bigfist0. I think it's also important to explain that this is about class struggle not ideologies or system vs system, the rich throughout history will always want to keep the poor impoverished, on edge with wars, debts , tax, work etc. .so like a willing, unsuspected host we allow the parasites (rich) to live and exploiting us until something gives then everyone dies. It's a dumb way for everyone on earth to spend our time here.
@tschoong3897 It is not only capitalism, it is the way management has the ultimate power in corporations, the way the labor laws are done, the way work is paid that is the core problems of employees everywhere in the world.
@jgalt308
5 hours ago
Professor Wolff schools Lex Fridman on economics and how he would run a business, or how he thinks business should work, or.....?????
The following was an excerpt from a three-hour interview with Lex where Wolff offers the following example of his understanding of all of the above and titled "Why Capitalism Fails."
An employer hires 100 employees as labor to produce "whatever", for $100 and then spends another $100 on the materials the production requires. From this, he receives $20 profit and repeats the process. He then purchases a machine that replaces 50% of his workforce...so he does.
Wolff disapproves of this as labor is always exploited ( except in the case of Mr and Mrs Smith who agree to sell their business to their employees ) and he suggests that all the employees should be retained at the same rate of pay, while only working half the hours. ( because labor is 100% responsible for what is being produced. ) This is similar to "other examples" he has offered in his attempt to sell the "democratically run workplace where the "employees" decide what to produce, when to produce and how to produce as well as what to do with the profits."
Now this example is completely flawed and so detached from reality that it is impossible to take it seriously...except on this site. ( echo chamber )
So I leave it to YOU, to decide whether to attempt to defend this idea or see how many flaws you can find pointing out a singular one that as an "existing business" all that what to produce stuff has already been determined, as it would be for any "existing business".
Will those who have been "brilliantly educated" by the Professor respond with anything intelligently relevant or substantive? We shall see.
*For those with reading comprehension difficulties.
Your mission, if you decide to accept it, is to analyze the scenario presented by the Professor and to determine if it is a viable strategy. What are the prospects for its success? Does it provoke questions regarding the elements offered? It should be noted that while the example is suggestive of Wolff's co-op model of a democratic workplace in his alternative solution to firing the replaced workforce, the example itself is the standard, employer owner, employee worker that is the current capitalist structure.
Eight attempts...still waiting...
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