At the Crossroads of a New Economic System - Global Capitalism
Prof Wolff explains where China's economic model sits historically: a new experiment in their version of "socialism with Chinese characteristics" that resembles a combination of private and state capitalism. Where will we go next? "Nowhere is there a major economic sector in which the workers democratically own and run their own enterprises. That, Marx said, is where the system will go after capitalism. That's the issue for the next system. We're not at that point yet. What we are at is the fading of the either/or dichotomies between private and state capitalism that were the 20th century U.S versus USSR story. Those have been superseded by the combination run by the party that is the Chinese resolution of the thesis of private capitalism, the anti-thesis of state capitalism and the synthesis that the Chinese have now shown us is the ticket to being the next, and probably the last, empire that capitalism will have been able to produce." - Richard Wolff This is a clip from the September 2022 Global Capitalism Lecture: China vs. US - System Rising vs. Falling You can watch the full lecture here: https://www.democracyatwork.info/glob... Or listen to it as a podcast on your favorite podcast player! ______________________________________________________________________________________ We make it a point to provide the show free of ads. Please consider supporting our work. Join our Patreon community: / democracyatwork Become a monthly donor via our website: https://www.democracyatwork.info/donate _______________________________________________________________________________________ Learn more about d@w's NEW BOOK by award-winning print and broadcast journalist Robert "Bob" Hennelly. Stuck Nation: Can the United States Change Course on Our History of Choosing Profits Over People? http://www.democracyatwork.info/books “Hennelly brilliantly analyzes our capitalist crises and how individuals cope with them, tragically but often heroically. He helps us draw inspiration and realistic hope from how courageous Americans are facing and fixing a stuck nation.” Richard D. Wolff
