Democracy at Work: A Cure for Capitalism

[shikaki]

Richard Wolff has it going on!!

 

[TakeAStepBack]

An hour video for a messgeboard conversation?

Is there anything you can provide to enhance the discussion that doesn't require an hour of note taking to discuss the points?

 

[shikaki]

I can summarize the video, but definitely worth the watch!! Very sharp and insightful Harvard Economist.

He provides examples of how capitalism has failed the American people. He offers "Economic Democracy" as the alternative.
Economic democracy is a socioeconomic philosophy that proposes to shift decision-making power from corporate shareholders to a larger group of public stakeholders that includes workers, customers, suppliers, neighbors and the broader public. No single definition or approach encompasses economic democracy, but most proponents claim that modern property relations externalize costs, subordinate the general well-being to private profit, and deny the polity a democratic voice in economic policy decisions.[1] In addition to these moral concerns, economic democracy makes practical claims, such as that it can compensate for capitalism's claimedly inherent effective demand gap.

 

[TakeAStepBack]

What capitalism? We haven't had capitalism in the US since neo-classical economics took over.

The problem with most heterodox economists, is that they fail to understand the praxeology of economics. Economic democracy is a terrible idea. What you're essentially advocating is the removal of all private property in favor of central planning based on majority rule over the system vs. ndividual initiative.

It would collapse under its own weight.

And again, most of these economists fail to distinguish the difference between corporatism and captialism. Making most of the premise false right out of the gate.

 

[JoeNormal]

I can summarize the video, but definitely worth the watch!! Very sharp and insightful Harvard Economist.

He provides examples of how capitalism has failed the American people. He offers "Economic Democracy" as the alternative.
Economic democracy is a socioeconomic philosophy that proposes to shift decision-making power from corporate shareholders to a larger group of public stakeholders that includes workers, customers, suppliers, neighbors and the broader public. No single definition or approach encompasses economic democracy, but most proponents claim that modern property relations externalize costs, subordinate the general well-being to private profit, and deny the polity a democratic voice in economic policy decisions.[1] In addition to these moral concerns, economic democracy makes practical claims, such as that it can compensate for capitalism's claimedly inherent effective demand gap.

I'm going to watch it when I have some time. I'm pretty familiar with Wolff and agree that he's a sharp guy.

 

[dblack]

I'll wait to comment in depth until I've had time to actually watch the video. But off the cuff, I'd suggest something like the opposite of the OP: Capitalism is the cure for Democracy.

And by that I mean keeping government out of our economic decisions is necessary for sustainable democracy.

 

[TakeAStepBack]

I'll wait to comment in depth until I've had time to actually watch the video. But off the cuff, I'd suggest something like the opposite of the OP: Capitalism is the cure for Democracy.

And by that I mean keeping government out of our economic decisions is necessary for democracy to remain viable.

I did a quick search and read on Wolff. So i have a pretty good idea what he's advocating. What that is, is pretty close to what the OP wrote in post #3. Essentially, the dismantling of capitalism and private property for a more "progressive" democratic based socialism. Which is, of course, proposterous.

 

[blastoff]

Ah, decision-making power by committee instead.

Let's see, we're gonna need another Czar appointed, a huge federal bureaucracy to adequately bungle the many thousands of pages of rules and regulations sure to ensue, and a healthy budget that will continue to grow forever.

 

[MACAULAY]

I can summarize the video, but definitely worth the watch!! Very sharp and insightful Harvard Economist.

He provides examples of how capitalism has failed the American people. He offers "Economic Democracy" as the alternative.
Economic democracy is a socioeconomic philosophy that proposes to shift decision-making power from corporate shareholders to a larger group of public stakeholders that includes workers, customers, suppliers, neighbors and the broader public. No single definition or approach encompasses economic democracy, but most proponents claim that modern property relations externalize costs, subordinate the general well-being to private profit, and deny the polity a democratic voice in economic policy decisions.[1] In addition to these moral concerns, economic democracy makes practical claims, such as that it can compensate for capitalism's claimedly inherent effective demand gap.

.............................................

Karl Marx came up with the same nonsense 150 years ago.

Those who are ignorant of history are condemned to repeat it.

Did you dumbasses learn anything at all from the collapse of the USSR.

Did you dumbasses learn anything at all from the collapse of Detroit.

Are you dumbasses learning anything at all from Obama's experiment in Harvard style "socioeconomic philosophy" as applied to healthcare?

A Harvard Professor?

 

[dblack]

Ah, decision-making power by committee instead.

Let's see, we're gonna need another Czar appointed, a huge federal bureaucracy to adequately bungle the many thousands of pages of rules and regulations sure to ensue, and a healthy budget that will continue to grow forever.

Yeah... and the irony of that approach is that it actually centralizes power in too few hands. And I think the presumption of its advocates is that it does the opposite. The distribution of economic decisions to individuals is, ultimately, far more 'democratic', than consolidating such power under government.

 

[Contumacious]

I can summarize the video, but definitely worth the watch!! Very sharp and insightful Harvard Economist.

He provides examples of how capitalism has failed the American people. .

Shit, Aki, that statement alone tells me that the video is pure bullshit.

America ceased being a capitalist nation when it centralized credit and banking in 1913, ie, with the creation of the federal reserve board.

Read today's headlines:

American Airlines and US Airways settle DOJ lawsuit, expect to complete merger in December

If a business needs the state's permission to merge then you have FASCISM not Capitalism.

In a Capitalist system they would have simply merged.

So shut the fuck up.

Change the thread title to

CAPITALISM, A CURE FOR FASCISM AND SOCIALISM

Go forth and sin no more.

.

 

[shikaki]

I'll wait to comment in depth until I've had time to actually watch the video. But off the cuff, I'd suggest something like the opposite of the OP: Capitalism is the cure for Democracy.

And by that I mean keeping government out of our economic decisions is necessary for democracy to remain viable.

I did a quick search and read on Wolff. So i have a pretty good idea what he's advocating. What that is, is pretty close to what the OP wrote in post #3. Essentially, the dismantling of capitalism and private property for a more "progressive" democratic based socialism. Which is, of course, proposterous.

This is essentially what we have for government, why is advocating the same approach to economics preposterous?

 

[TakeAStepBack]

Because it doesn't work. Central planning doesn't work. Do you think our government is a good standing example of functioning "democracy"?

 

[shikaki]

I can summarize the video, but definitely worth the watch!! Very sharp and insightful Harvard Economist.

He provides examples of how capitalism has failed the American people. .

****, Aki, that statement alone tells me that the video is pure bull****.

America ceased being a capitalist nation when it centralized credit and banking in 1913, ie, with the creation of the federal reserve board.

Read today's headlines:

American Airlines and US Airways settle DOJ lawsuit, expect to complete merger in December

If a business needs the state's permission to merge then you have FASCISM not Capitalism.

In a Capitalist system they would have simply merged.

So shut the **** up.

Change the thread title to

CAPITALISM, A CURE FOR FASCISM AND SOCIALISM

Go forth and sin no more.

.

That was completely assumptive and off topic. At least watch the video before coming up with a misinformed opinion.

 

[shikaki]

Because it doesn't work. Central planning doesn't work. Do you think our government is a good standing example of functioning "democracy"?

You have a better solution in mind?

 

[TakeAStepBack]

What he said is what I said in post #4.

What capitalism? We dont have capitalism and therefore, offering solutions to its failure is a false premise.

 

[TakeAStepBack]

Because it doesn't work. Central planning doesn't work. Do you think our government is a good standing example of functioning "democracy"?

You have a better solution in mind?

Yeah, capitalism.

 

[Katzndogz]

Democracy is not survivable as a form of government. It always cannibalizes itself which is why the founders set up a Republic instead of a democracy.

 

[Contumacious]

I can summarize the video, but definitely worth the watch!! Very sharp and insightful Harvard Economist.

He provides examples of how capitalism has failed the American people. .

****, Aki, that statement alone tells me that the video is pure bull****.

America ceased being a capitalist nation when it centralized credit and banking in 1913, ie, with the creation of the federal reserve board.

Read today's headlines:

American Airlines and US Airways settle DOJ lawsuit, expect to complete merger in December

If a business needs the state's permission to merge then you have FASCISM not Capitalism.

In a Capitalist system they would have simply merged.

So shut the **** up.

Change the thread title to

CAPITALISM, A CURE FOR FASCISM AND SOCIALISM

Go forth and sin no more.

.

That was completely assumptive and off topic. At least watch the video before coming up with a misinformed opinion.

Listen Ding Dong

If you start by telling me that there is something wrong with Capitalism then no further research is necessary - recheck your premises.

.

 

[dblack]

I'll wait to comment in depth until I've had time to actually watch the video. But off the cuff, I'd suggest something like the opposite of the OP: Capitalism is the cure for Democracy.

And by that I mean keeping government out of our economic decisions is necessary for democracy to remain viable.

I did a quick search and read on Wolff. So i have a pretty good idea what he's advocating. What that is, is pretty close to what the OP wrote in post #3. Essentially, the dismantling of capitalism and private property for a more "progressive" democratic based socialism. Which is, of course, proposterous.

This is essentially what we have for government, why is advocating the same approach to economics preposterous?

That's the question we really need to answer clearly as a nation: what IS government for?

I believe we create government to protect our freedom; to make it possible for us all to get along and enjoy the benefits of society, yet remain free to pursue our own individual goals and desires.

From that point of view, we don't need, or want, government dictating our economic decisions. Just as we don't want it dictating our religious beliefs or associations.