The Dissenter

#1153 Richard Wolff: Economic Inequality and Why We Need to Tax the Rich

Sep 22, 2025
Guest
Richard Wolff
Dr. Richard Wolff, a renowned economist and co-founder of Democracy at Work, dives into the depths of economic inequality. He challenges the notion that inequality is natural and explains how capitalism creates persistent disparities in wealth. Wolff also tackles the political barriers to taxing the rich, emphasizing the need for government policy changes. He critiques the concentration of power among billionaires and argues they undermine democracy, advocating for a more equitable distribution of resources. Buckle up for a thought-provoking discussion!
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INSIGHT

Capitalism's Built‑In Inequality

  • Capitalism inherently produces and reproduces economic inequality through its organization of workplaces and revenue distribution.
  • Small owner/executive groups capture lion's share of output while the vast majority remain employees and receive little.
INSIGHT

Inequality Is Social, Not Natural

  • Inequality is not a natural law but a social outcome shaped by institutions and ideology.
  • Elites promote naturalizing narratives to discourage collective efforts to change distributional rules.
ANECDOTE

1930s Mobilization Reduced Inequality

  • The 1930s Great Depression provoked massive unionization and left politics that reduced inequality dramatically.
  • Many social programs like Social Security and unemployment emerged from that worker-driven era.
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