Stock Markets: Making the Rich Richer for 400 Years
The Socialist Program with Brian Becker
The Socialist Program
4.7 • 587 Ratings
🗓️ 23 June 2021
⏱️ 33 minutes
🧾️ Download transcript
Summary
Today we continue a series of discussions about the basics of Marxism — a method for understanding and changing the world used by many of the great revolutionaries of modern history. We discuss the Marxist understanding of the role played by stock markets in capitalism. How has the function of stock markets evolved over the years, and how do they contribute to today’s exploding wealth inequality?
Richard Wolff is the co-founder of the organization Democracy at Work and the author of many books, the latest being “The Sickness is the System: When Capitalism Fails to Save Us from Pandemics or Itself”. You can check out his work at rdwolff.com.
Please make an urgently-needed contribution to The Socialist Program by joining our Patreon community at patreon.com/thesocialistprogram. We rely on the generous support of our listeners to keep bringing you consistent, high-quality shows. All Patreon donors of $5 a month or more are invited to join the monthly Q&A seminar with Brian.
Transcript
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| 0:00.0 | Today, we continue a series of discussions about the basics of Marxism, a method for understanding |
| 0:06.8 | and changing the world used by many of the great revolutionaries of modern history. |
| 0:11.8 | We'll discuss the Marxist understanding of the role played by stock markets in capitalism. |
| 0:17.3 | How has the function of stock markets evolved over the years, and how do they contribute to today's exploding wealth inequality? |
| 0:25.6 | We need a new system. We need a new society. We need to demand that which may have sounded impossible even a few weeks ago, but is not only realizable, but an imperative necessity. Deepening unemployment, a looming wave of evictions, massive and widening inequality. |
| 1:06.5 | There's no denying it. Capitalism is in crisis and capitalism is the crisis. We are very excited |
| 1:12.6 | to have Professor Richard Wolfe join us for a regular weekly segment where we discuss the biggest |
| 1:17.4 | stories relating to the economy, the state of the working class, and the crimes of big business. |
| 1:23.0 | The Socialist Program brings you content three days a week thanks to the support of our patrons |
| 1:27.1 | at patreon.com slash the Socialist Program brings you content three days a week thanks to the support of our patrons at patreon.com slash the Socialist Program. |
| 1:31.1 | We appreciate all of your support and encourage you to become a patron today if you enjoy listening to the show. |
| 1:37.6 | Richard Wolfe is the co-founder of the organization Democracy at Work and the author of many books, |
| 1:42.7 | the latest being The Sickness is the System, |
| 1:45.5 | when capitalism fails to save us from the pandemics or itself. |
| 1:50.2 | You can check out his work at rd.wolf.com. |
| 1:54.1 | I'm Walter Smolerick, filling in for Brian Becker, who's out this week to attend the funeral |
| 1:58.3 | of our dear friend Abduz Lukman. |
| 2:01.2 | Abduz was a committed fighter for social justice and an insightful voice in people's alternative |
| 2:06.3 | media as part of Lukman Nation. |
| 2:08.9 | All of us at the Socialist Program extend our heartfelt condolences to his beloved wife and |
| 2:14.0 | comrade, Jackie Lukman. |
| 2:16.2 | Professor Wolf, let's turn to this topic of the stock market. |
... |
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