Economic Update With Richard Wolff: Education and an Economic Revolution 

Professor Wolff explains economics in a clear and straightforward manner. This is remarkable because there is no mumbo-jumbo, affectation, or condescendence.

This is why I'm subscribed.

Thank you Professor Wolff!

Mr WOLFF, I always learn from you, thanks.

Thank you Prof. Always grateful for your reflections, and comments. More please! By the way, I'm not American but this is the sort of thing that the internet should be used for. And I'm not so short sighted that I can't see the very real parallels with my country/society/economy.

THANK YOU Professor Wolff for sharing your brilliance in such an entertaining manner. Love from Copenhagen

Good grief! Could you perhaps find a less maniacal looking thumbnail for this video?!?! I'd like to share it on Facebook, but I'm afraid people will be put off... :-/

Dear Professor Richard Wolff, Thank You so very much for the great work that you are doing to educated us the masses and if I may say so, helping to (desheeplize) our world from domination of corporate criminal capitalism way of thinking and living. Today more than ever we are in need of people like you.

The video so far clever until now that more favorite than chosen by me moreover useful and lightening. I love to repeat again. Inside the video I will study every day. Thank you.

Quite a good episode. I regard the focus on Neoclassical, Keynesian and Marxist to be a rather narrow view of economics but it's certainly a broader perspective that people should have a right to examine for themselves. In 1921, H.G. Wells wrote in "Salvaging Civilization", "... with adolescence comes the right to knowledge and the right of judgment. And that it is the task and duty of the college to give matters of opinion in the solid-to let the student walk round and see them from every side." Salvaging Civilization by H.G. Wells (1921) In his economic textbook, "Scarcity Challenged", Heinz Kohler wrote a very good preface in which he mentioned the problem of people's different ideas about what economics was and their prejudices. Mr. Kohler looked at economics in terms of full employment of resources, efficient use of resources, and growth of output. He then looked at both the U.S.A. and U.S.S.R. economies from this perspective. ........ Salvaging Civilization(1921) by H.G. Wells excerpted from Ch. 7: College, Newspaper and Book ... "If schooling is a training in expression and communication, college is essentially the establishment of broad convictions. And in order that they may be established firmly and clearly, it is necessary that the developing young man or woman should hear all possible views and see the medal of truth not only from the obverse but from the reverse side." "Now here again I want to put the same sort of questions I have put about schooling." "Is the college stage of our present educational system anywhere near its maximum possible efficiency? And could it not be extended from its present limited range until it reached practically the whole adolescent community?" "Let me deal with the first of these questions first." "Could we not do much more than we do to make the broad issues of various current questions plain and accessible to our students in the college stage?" "For example, there is a vast discussion afoot upon the questions that centre upon Property, its rights and its limitations. There is a great literature of Collectivist Socialism and Guild Socialism and Communism. About these things our young people must know. They are very urgent questions; our sons and daughters will have to begin to deal with them from the moment they leave college. Upon them they must form working opinions, and they must know not only what they themselves believe but, if our public affairs are not to degenerate into the squalid, obstinate, hopeless conflicts of prejudiced adherents, they must know also what is believed by other people whose convictions are different from theirs." "You may want to hush these matters up. Many elderly people do. You will fail." "All our intelligent students will insist upon learning what they can of these discussions and forming opinions for themselves. And if the college will not give them the representative books, a fair statement of the facts and views, and some guidance through the maze of these questions, it means merely that they will get a few books in a defiant or underhand way and form one-sided and impassioned opinions." "Another great set of questions upon which the adolescent want to judge for themselves, and ought to judge for themselves, are the religious questions." "And a third group are those that determine the principles of sexual conduct." "I know that in all these matters, on both sides of the Atlantic, a great battle rages between dogma and concealment on the one hand and open ventilation on the other." "Upon the issue I have no doubt. I find it hard even to imagine the case for the former side." "So long as schooling goes on, the youngster is immature, needs to be protected, is not called upon for judgments and initiatives, and may well be kept under mental limitations. I do not care very much how you censor or select the reading and talking and thinking of the schoolboy or schoolgirl. But it seems to me that with adolescence comes the right to knowledge and the right of judgment. And that it is the task and duty of the college to give matters of opinion in the solid-to let the student walk round and see them from every side." "Now how is this to be done?" "I suggest that to begin with we open wide our colleges to propaganda of every sort. There is still a general tendency in universities on both sides of the Atlantic to treat propaganda as infection. For the adolescent it is not-it is a stimulating drug." "Let me instance my own case. I am a man of Protestant origins and with a Protestant habit of mind. But it is a matter of great regret to me that there is no good Roman Catholic propaganda available for my sons in their college life. I would like to have the old Mother Church giving my boys an account of herself and of the part she has played in the history of the world, telling them what she stands for and claims to be, giving her own account of the Mass. These things are interwoven with our past; they are part of us. I do not like them to go into a church and stare like foreigners and strangers at the altar." "And side by side with that Catholic propaganda I would like them to hear an interpretation of religious origins and church history by some non-catholic or sceptical ethnologist. He, too, should be free to tell his story and drive his conclusions home." "But you will find most colleges and most college societies bar religious instruction and discussion. What do they think they are training? Some sort of genteel recluse-or men and women?" "So, too, with the discussion of Bolshevism. I do not know how things are in America but in England there has been a ridiculous attempt to suppress Bolshevik propaganda. I have seen a lot of Bolshevik propaganda and it is not very convincing stuff. But by suppressing it, by police seizures of books and papers and the like, it has been invested with a quality of romantic mystery and enormous significance. Our boys and girls, especially the brighter and more imaginative, naturally enough think it must be tremendous stuff to agitate the authorities in this fashion." "At our universities, moreover, the more loutish types of student have been incited to attack and smash up the youths suspected of such reading. This gives it the glamour of high intellectual quality." "The result is that every youngster in the British colleges with a spark of mental enterprise and self-respect is anxious to be convinced of Bolshevik doctrine. He believes in Lenin-because he has been prevented from reading him. Sober collectivists like myself haven't a chance with him." "But you see my conception of the college course? Its backbone should be the study of biology and its substance should be the threshing out of the burning questions of our day." "You may object to this that I am proposing the final rejection of that discipline in classical philosophy which is still claimed as the highest form of college education in the world--the sort of course that the men take in what is called Greats at Oxford. You will accuse me of wanting to bury and forget Aristotle and Plato, Heraclitus and Lucretius, and so forth and so on." "But I don't want to do that-so far as their thought is still alive. So far as their thought is still alive these men will come into the discussion of living questions now. If they are Ancients and dead then let them be buried and left to the archæological excavator. If they are still Moderns and alive, I defy you to bury them if you are discussing living questions in a full and honest way. But don't go hunting after them, there are still modern Immortals in the darkness of a forgotten language. Don't make a superstition of them. Let them come hunting after you. Either they are unavoidable if your living questions are fully discussed, or they are irrelevant and they do not matter. That there is a wisdom and beauty in the classics which is incommunicable in any modern language, which obviously neither ennobles nor empowers, but which is nevertheless supremely precious, is a kind of nonsense dear to the second-rate classical don, but it has nothing endearing about it for any other human beings. I will not bother you further with that sort of affectation here." "And this college course I have sketched should, in the modern state, pass insensibly into adult mental activities." "Concurrently with it there will be going on, as I have said, a man's special technical training. He will be preparing himself for a life of industrialism, commerce, engineering, agriculture, medicine, administration, education or what not. And as with the man, so with the woman. That, too, is a process which in this changing new world of ours can never be completed. Neither of these college activities will ever really leave off. All through his life a man or woman should be confirming, fixing or modifying his or her general opinions; and all the time his or her technical knowledge and power should be consciously increased."

What was the name of the book that was to the left of Richard D. Wolf,?

As always very nice Mr. Wolff! I disagree only on one thing: Non-intervening state may still be the the official line and the main thing that is taught - but clearly the mode active now is to overtake the state to intervene directly and massively into the economy?! (Got that from Philip Mirowski)

Very important part of a good society and this is how we treat those involved. It does seem insane to me

Could you comment on Ecological Economics and why it can or cannot work?

41%???

that thumbnail pic is so funny

Did he say "median"? Half do not necessarily have less or more than median. Sample group on numbers; 1, 2, 2, 2, 2, 500, 10000. Median number is "2" while average is... Do you agree? P.S. Number group may well represent the wage distribution of U.S. society.

Peace Not War

So, why did this happen?

Also some great content on YT re: Chomsky on Education And... the Finnish Education Model - currently the world's best system (which happens to feature FREE higher education)

Wolff for President

"Shit nigga you sending the Wolf , that's all you had to say"

Super enlightening his explanation of the need of a socialist party for to pressure and balance the capitalism, I guess that is way Bernie Sanders was so popular.

The meritocratic illusion created by amassed wealth confuses both the wealthy and the virtuous poor; like underpaid college professors. They seek to possess the demand power of wealth rather than the amicable and productive volitional fellowship of neighbor. I'm 65% on board with Dr. Wolff.

Truth is the hardest thing to face😐🤖🚩💊

The United States is similar to its Wild West days, still like the California gold rush. No regulation by the government, so businesses operate williy nilly, without government intervention: they set their prices, no respect for the environment, and so on.

I am glad to see serious discussion of the denigration of the once respected career of university lecturer/professor and its consequences and repercussion in our society. The same has happened in the UK, where my brilliant nephew the prize- winning scholarship student at the best school in North-west of England, prevented by his Dept at Manchester University from completing the integrated degree course and forced to leave without completing his Masters. What happened? He had difficulty with a subject and the tutorials clashed with Lab.work. The tutor was a part-timer who wasn't around to be consulted and the boy failed and his request to repeat refused He is now doing nothing and too disillusioned to reapply. There is another aspect to this, which favours overseas students paying huge fees and the Chinese are also investing in prestigious departments. As a former lecturer in HE, I can assure UK/EU parents that their sons and daughters are second class citizens in UK universities. Don't worry though, if this situation is not reversed, the fees will go elsewhere to countries that have real universities and not to English ones that consider them as cows to be milked. By the way are other universities as harsh in their refusal to listen to a student's pleas for a second chance. Certainly in Spain students have negotiated several chances to repeat exams.

What Wolff should do is organize a class action vs the ACA based on the inequitable pricing on middles class Americans. The Ins. Companies required to know your income befoe they disclosed the price of their policies (This is NOT free Market Capitalism; it is larceny!) In the years that followed the price of insurance maxed out the disposable income of middle class Americans. This makes the ACA illegal as it treats people very unfairly vs the ins. Companies and the states. It is deprivation of property without due process and unequal treatment of law vs free market footing of Doctors salaries and the salaries of common folk. Did the Ins co tell you how much they were paying the doctors on your plan?

Three people, who watched this video, own 41% of all the wealth.

All the money they charge students yet they cannot use some of that money and pay professors a decent salary. It makes no sense. Then we wonder why they don't teach.

41.8 % , 41.8 % ! That's all ? That leaves WAY TOO MUCH left for all those unwashed and clearly undeserving ! We need to get busy and scoop up a lot more before they get their grubby paws on it and soil it !

Source: www.theguardian.com/australia-news/datablog/ng-interactive/2016/feb/04/income-inequality-in-australia-see-how-much-the-1-earn-in-your-area "The wealthiest 1% earned 11.4% of Sydney’s total income in 2012-13, the data shows, compared with 9.8% in Melbourne and 9.1% in Perth. Hobart, Darwin and the Australian Capital Territory emerged as the areas with the most equal distribution of income." This is then better than Finland. Time to move to Australia...

G R E E D..it's called Rob Peter to Pay Paul method🤑🏴🚫

On us , professor's voice echoes. Above all they are around.. scared me.

In desperation, after lots of suffering, the states will join the rest of the world (providing too much damage has not been done)

Donald will "Make America Pay Again"