meta_pixel
Tapesearch Logo
Log in
The Socialist Program with Brian Becker

Profit Is A ‘False God’ w/ Prof. Wolff

The Socialist Program with Brian Becker

The Socialist Program

Politics, News

4.7587 Ratings

🗓️ 23 July 2025

⏱️ 30 minutes

🧾️ Download transcript

Summary

Emblematic of capitalist corporations, investment bank Goldman Sachs asks a revealing question that shows the evils of capitalism: ‘Is curing patients a sustainable business model?’


Nicole Roussell and Professor Richard Wolff discuss the unhealthy effects of the profit drive and huge profits in the pharmaceutical industry, using Hepatitis C treatments as an example, and how the math would work with industry profit no longer built in. Professor Richard Wolff is an author & co-founder of the organization Democracy at Work. You can find his work at rdwolff.com.


Join the The Socialist Program community at https://www.patreon.com/TheSocialistProgram to get exclusive content and help keep this show on the air.

Transcript

Click on a timestamp to play from that location

0:00.0

The investment bank Goldman Sachs asks a revealing question.

0:05.0

Is curing patients a sustainable business model?

0:08.0

We need a new system.

0:10.0

We need a new society.

0:12.0

We need to demand that which may have sounded impossible even a few weeks ago,

0:17.0

but is not only realizable, but an imperative necessity. Andy. The We are very excited to have Professor Richard Wolfe join us for a regular weekly segment

0:47.8

where we discuss the biggest stories relating to the economy, the state of the working

0:51.4

class, and the crimes of big business. I'm Nicole Roussel,

0:55.3

sitting in for your host, Brian Becker. The Socialist Program brings you content several days a week

0:59.9

thanks to the support of our patrons at patreon.com slash the Socialist Program. We appreciate all

1:05.2

of your support and encourage you to become a patron today if you enjoy listening to the show.

1:10.3

Richard Wolf is the co-founder of the organization Democracy at Work and the author of many

1:14.7

books, including Understanding Capitalism, which is available at democracy at work.info.

1:20.7

All right, Richard, this wild story that's been going around, the headline, as I read in the

1:25.5

introduction, is Goldman Sachs asks in biotech research

1:28.5

report, is curing patients a sustainable business model? The idea that we as a society wouldn't

1:35.2

put our time, efforts, and resources into curing patients is an insane idea. But of course,

1:41.0

the answer to this question, is it a sustainable business model, is actually, no, it's not under capitalism.

1:46.6

I want to read just a few sentences from the report. It goes, the potential to deliver, quote-unquote, one-shot cures is one of the most attractive.

1:54.2

While this proposition carries tremendous value for patients and society, it could represent a challenge for genome medicine developers looking

2:01.6

for sustained cash flow, unquote. Under capitalism, as we all know, profit is the motive for the

2:08.0

capitalist, the ones who own everything. And so this analyst isn't really saying anything

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from The Socialist Program, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of The Socialist Program and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.