Professor Richard Wolff: The coming economic crash will be like NOTHING in history

[WhoIsNumberNone]

[jaxexpat]

1. What's this guy's purpose for placing such a defeatist...

onus on Biden? It is clearly the republicans and their perverse ethic that stands in the way of duplicating Germany's approach to diminishing the impending economic holocaust. Same crowd that Roosevelt had to contend with. Same stupidity as well.
But I just don't get the point to curbing Biden's options without evidence that he will fail to react positively. Has this guy and those talking heads forgotten that Trump and the senate are 180 degrees opposed to such repairs and are still squarely in power?

[bucolic_frolic]

2. He's taught Marxist/Socialist courses in is career

Any excuse to expand the state's role in the economy to help workers is music to his ears. He harkens back to the days of true trade unionism and all power to the Soviets.

He's ignoring, or unaware of, the flexibility built into work and home in the modern information economy. Home gigs are burgeoning, everyone with a dream to work for himself is busy late into the night. It may prove to be quite a bit of a zero sum game with low productivity and low-tech output, but it will enable many households. It is also helping people find solutions to their problems outside the grasp of Big Business in small family enterprises and DIY skills, which rub off on others and help them help themselves.

[jaxexpat]

3. yeah, sure, maybe - The worker's paradise remains illusive.

I was mostly concerned that he thought Biden was failing to do something about the coming economic armageddon. Does he not realize that Biden is only a candidate at this point? He hasn't even been elected so he can fail. Even Clinton was given until February 1993 before he was declared "a failed president".

BTW, I think the same tech revolution that enables "the flexibility built into work and home in the modern information economy" will further exacerbate the current and unsustainable 99% VS 1% inequality. With the 1% holding even more power (due to simple asset acquisition) than they currently enjoy. The do-it-yourself barter utopia, in an environment controlled by the mega-rich has been tried before. It was called the Middle Ages. Most people are in the underclasses because they can't do the hard math. Some aspire to become cops. Some will steal for food and shelter. Still others opt for insanity. Without socialized healthcare, pensions and a government which holds workers rights to be sacrosanct there is only drudgeville.

[bucolic_frolic]

4. Don't live in the Middle Ages

it was a long time ago. Only princes communicated with people outside their enclaves. A lot has happened since then.

[jaxexpat]

5. Indeed it has. The state of flux endures. Always on the threshold.

good chat.