Robinson's Podcast 127 - Richard Wolff: What’s Wrong with Capitalism?
6 snips
Aug 13, 2023 
Richard Wolff, Marxist economist, discusses the dismissal of Marx by mainstream economists, the basics of economics, problems of capitalism, and social consequences of capitalism.
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Cold War Shaped Economics Exclusion
- The marginalization of Marxism in economics was due mainly to Cold War politics, not intellectual merit.
- This exclusion harms understanding of key global powers and economic systems today.
What Economics Studies
- Economics studies how societies organize production and distribution of goods and services.
- Capitalism uniquely separates economics as its own discipline due to market individualism.
Capitalist as Unnecessary Middleman
- Capitalists act as middlemen making profit by hiring labor and paying less than output value.
- Marxist critique calls the capitalist unneeded, as producers and consumers could organize directly.