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The Socialist Program with Brian Becker

Capitalism in Crisis: The Phony Debate

The Socialist Program with Brian Becker

The Socialist Program

Politics, News

4.7587 Ratings

🗓️ 10 February 2021

⏱️ 38 minutes

🧾️ Download transcript

Summary

As Congress continues to deliberate over a new economic stimulus plan, more and more people are focusing on the outrageously low minimum wage. Brian and Prof. Wolff discuss this issue and what it tells us about the capitalist system.

Richard Wolff is the co-founder of the organization Democracy at Work and the author of many books, the latest being “The System is the Sickness: When Capitalism Fails to Save Us from Pandemics or Itself”. You can check out his work at rdwolff.com.

Transcript

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0:00.0

After years of organizing, after years of struggle led by low-wage workers, a $15 in our minimum

0:09.7

wage appears within reach, but it is still far from certain.

0:15.5

We need a new system.

0:17.8

We need a new society.

0:19.7

We need to demand that which may have sounded impossible

0:22.5

even a few weeks ago, but is not widening inequality, there's no denying it.

0:59.0

Capitalism is in crisis and capitalism is the crisis.

1:04.0

We are joined by Professor Richard Wolfe, who talks to us every week in this segment where we talk about the biggest stories related to the

1:11.7

economy, the state of the working class, and the crimes of big business. We'll talk about how

1:17.6

the economy can be reconstituted on a new basis so that the needs of people in the planet come

1:23.9

before profit. The Socialist Program brings you content three days a week, thanks to the

1:29.2

support of our patrons at patreon.com forward slash the socialist program. We appreciate all of your

1:37.2

support and encourage you to become a patron today if you enjoy listening to this show.

1:43.8

Richard Wolf is the co-founder of the organization Democracy at Work.

1:47.7

He's the author of many books, the latest being the system is the sickness

1:51.7

when capitalism fails to save us from the pandemic or itself.

1:56.8

You can check out his work at rd.wulf.com and R.D. Wolf is spelled R.D.W.L.F.com. Professor Wolf, welcome back.

2:07.4

Thank you. Glad to be here. Well, again, we are talking on a Wednesday. Yesterday, the impeachment trial in the Senate for Donald Trump began. Perhaps for most

2:21.8

people in America, certainly most working families, certainly for poor people. And that's a growing

2:28.3

number of the American people. Their mind is probably a lot less on impeachment and more on whether or not they can pay the

2:36.6

rent, whether they can feed their family. Fifty million people, according to current statistics,

2:42.9

are now food insecure, a modern euphemism for being hungry. And at the same time, the debate raging in Congress has to do with whether or not

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