Marxist Economic Theory Easily Explained w/Richard Wolff
05 Jan '19 00:41Here is something for you to ignore
YouTube
Speaking to those who weren't frightened by the mean, mean word in the title, Richard Wolff raises a few good points.
I don't agree with his opinion that all inequality, including that in Denmark is inherently bad and should be dealt with. If you have a society like that in which the vast majority of needs of citizens are taken care of, in which corporations are regulated (not allowed to crash the economy, forced to offer safe conditions to their workers, etc) and pay their fair share of taxes there shouldn't be a law to stop someone to become a billionaire. By all means, good for you if you played by the rules and made billions.
That is practically the only thing i disagreed with Wolff. Of the things i did like was finding out about "Mitbestimmung" in Germany, described here:
https://en.wikipedia.org/wiki/Codetermination_in_Germany
"Codetermination in Germany is a concept that involves the right of workers to participate in management of the companies they work for.[1] Known as Mitbestimmung, the modern law on codetermination is found principally in the Mitbestimmungsgesetz of 1976. The law allows workers to elect representatives (usually trade union representatives) for almost half of the supervisory board of directors. The legislation is separate from the main German company law Act for public companies, the Aktiengesetz. It applies to public and private companies, so long as there are over 2,000 employees. For companies with 500–2,000 employees, one third of the supervisory board must be elected."
In the US some workers have trouble forming unions at all. In Germany union leaders are invited to sit on the board of directors. Suffice it to say, there would be a bit fewer factories outsourced to Vietnam and China if this were done in the US as well.
YouTube
Speaking to those who weren't frightened by the mean, mean word in the title, Richard Wolff raises a few good points.
I don't agree with his opinion that all inequality, including that in Denmark is inherently bad and should be dealt with. If you have a society like that in which the vast majority of needs of citizens are taken care of, in which corporations are regulated (not allowed to crash the economy, forced to offer safe conditions to their workers, etc) and pay their fair share of taxes there shouldn't be a law to stop someone to become a billionaire. By all means, good for you if you played by the rules and made billions.
That is practically the only thing i disagreed with Wolff. Of the things i did like was finding out about "Mitbestimmung" in Germany, described here:
https://en.wikipedia.org/wiki/Codetermination_in_Germany
"Codetermination in Germany is a concept that involves the right of workers to participate in management of the companies they work for.[1] Known as Mitbestimmung, the modern law on codetermination is found principally in the Mitbestimmungsgesetz of 1976. The law allows workers to elect representatives (usually trade union representatives) for almost half of the supervisory board of directors. The legislation is separate from the main German company law Act for public companies, the Aktiengesetz. It applies to public and private companies, so long as there are over 2,000 employees. For companies with 500–2,000 employees, one third of the supervisory board must be elected."
In the US some workers have trouble forming unions at all. In Germany union leaders are invited to sit on the board of directors. Suffice it to say, there would be a bit fewer factories outsourced to Vietnam and China if this were done in the US as well.
