127 - Richard Wolff: What’s Wrong with Capitalism?

Richard Wolff is Professor Emeritus of Economics at the University of Massachusetts Amherst and a visiting professor at The New School, where he works on economics in the Marxist tradition. In this episode, Robinson and Richard discuss his criticisms of capitalism. They begin with why mainstream economists dismiss Marx and then move on to the basics of economics, the problems of our capitalist system, and the myriad social issues we face today.

Richard’s Website: https://www.rdwolff.com

Economic Update: https://www.democracyatwork.info/economicupdate

The Sickness is the System: https://a.co/d/jf5w5wy

OUTLINE

00:00 In This Episode…

00:26 Introduction

02:41 Why Do Economists Ignore Marx?

15:34 What is Economics?

22:50 Capitalism and What’s Wrong With It

56:12 What Are the Main Problems of Capitalism?

01:03:14  Psychoanalysis and Marxism

01:08:25 The Microproblems of Capitalism

01:18:57 The Social Consequences of Capitalism

Robinson’s Website: http://robinsonerhardt.com

Robinson Erhardt researches symbolic logic and the foundations of mathematics at Stanford University. Join him in conversations with philosophers, scientists, weightlifters, artists, and everyone in-between.