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Discuss with Us the Comparisons of Capitalism and Socialism

By Steven Gloss

Richard Wolff is the director of an organization called ‘Democracy at Work’ and has been a professor of economics at several universities. He holds a PhD in economics from Yale University and two Master’s degrees in economics from Yale and Stanford University, as well as an undergraduate degree from Harvard. He gives a monthly talk on economic issues at the Judson Memorial Church in Manhattan where the talk in this week’s video was given. Wolff is widely regarded as the premier Marxist economist in the US although he often says that he was never taught any socialist or Marxist economic theory despite his elitist academic experiences. In fact, Wolff argues that teaching and discussions about economic systems, other than capitalism, have largely been suppressed for nearly 50 years in the US, owing in part to the assault on free speech in universities following the Louis Powell memo of 1972.

Learn how, despite the massive loss of jobs in the manufacturing sector and the lack of any rise in wages for nearly 40 years, capitalists still portray the economic benefits of this very undemocratic system. Communities are so desperate to find jobs for their citizens that they pay absurd subsidies to global corporations to relocate to their communities. This has the effect of providing additional government subsidies to the largest and richest corporations in the world. Welfare for corporations is now extended to the state and local level.

The Trump administration had many goals in 2017 among which were repealing the so-called Obamacare, really the Affordable Care Act, a goal which they have failed to achieve so far. However, a perhaps loftier goal for the neoliberal agenda was a massive rewrite of US tax laws, especially pertaining to corporations. Wolff asserts that even before the huge tax cuts for corporations, enacted just before Christmas, the burden of taxation had already been shifted dramatically to the working class instead of the corporations.

Ever since Marx revealed the shortcomings of capitalism, his work has either been suppressed by capitalists, whose only goal is increasing profitability, or maligned by using examples of communist dictatorships, neither of which portrays the diversity of social and economic possibilities under socialism. Join us to see and discuss this comparison of capitalism and socialism.


Meeting and Video

Occupy San Miguel presents

Richard Wolff on ‘Global Capitalism:

The GOP/Trump Plan for 2018

Mon, Jan 29, 1pm

Quinta Loreto Hotel, TV room

Loreto 15



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