The first 38 minutes is just the most concise, elegant explanation of how we got to where we are from a historical perspective. The last 20 minutes are more philosophical but also well worth watching.
Thanks - I will check out your link.
This man, Richard Wolff, makes sense to me. The things he describes and connections he makes fit together in good order. I have trouble with his conclusion: worker owned businesses. There are some people who just are not able to do a job on their own, some don't see what needs to be done or how. Other don't seem to want to work at all. So, tensions build in an organization where some work hard and others don't. I don't know how to get around that. I would like to see some evidence of a democratic business that works for all and makes profit for each worker/owner.
I'd like to see the evidence too Joan. I've been an advocate for a while of the creation of some sort of independent city-state organizations, each with their own professed economic philosophy. Then we just sit back and wait for the evidence to start rolling in on which systems work well and which don't. A sort of social experiment writ large. I think its funny that the libertarians are the ones who seem to have their act together the most in actually getting around to creating such communities, I'd love to see how they manage, especially with how they treat their sick, their poor, their huddled masses.
I don't really see any way around the fact of people suffering though. Any system is going to produce its winners and losers, its just a fact of life and the natural inevitable result of survival of the fittest. I think it greatly matters how we treat the disadvantaged, I think we should do as good a job with taking care of people as possible, but I would be very wary of a philosophy which advocates taking care of everyone no matter what the cost, I think then that does lead to a communism of the sort which this guy mistakes for socialism, and which adheres to the dictum "from each according to his ability, to each according to his need". I hate to say it, but I think Ayn Rand had this much at least correct. This philosophy of trying to keep everyone equal has disastrous consequences, where people become lazier and needier as a strategy, damaging rather than fostering prosperity for everyone.