Richard Wolff on Worker Coops: Theory and Practice of 21st Century Socialism

[Cheese Sandwich]

Apr 25, 2016
Richard D. Wolff, Professor of Economics Emeritus, University of Massachusetts, Amherst

https://www.youtube.com/watch?&v=a1WUKahMm1s

[snot]

1. Ok, maybe I shdn't reply, not having watched it yet, but

an hour + 40 min. is a big time commitment right now (ps: summaries appreciated).

So forgive me if you can, but.

https://en.wikipedia.org/wiki/Mondragon_Corporation

Credit unions (consistently providing members the best deals – not only is my checking account free; I get interest on it! – AND completely uninvolved in the kinds of risky, unproductive speculation that crashed the economy in 2008 and "required" taxpayer bailouts).

Etc.

Even if we don't own and control everything ourselves, we should AT LEAST own and control essential infrastructure/services. Once hijacked by entities that are not directly answerable to citizens, they become extortion machines.

[RoccoR5955]

2. Believe me when I say

that Richard Wolff's lectures are well worth the time commitment.
They always provide us with an understanding of the economy that we will never see anywhere else.

No, I haven't seen this one, and I am a bit upset with the fact that it was only a half hour away from home.
I'll make the time to watch it, as I do for his monthly economic updates.
If I want to see him live, I'll wait until next month, when I can see him at the Left Forum in NYC.

[Cheese Sandwich]

3. This one has a lot in it.

If you've seen his other stuff it's similar but there were also some things I haven't heard before.

He defines capitalism and socialism in terms of who directs the surplus value created in the labor process. Says socialism is making a major comeback in the US after decades of repression. Sees Occupy Wall Street as helping open this conversation. Sees Bernie Sanders as another phase of this opening. Talks about why it's important to study critics of capitalism, not just defenders of capitalism. Talks about what we can learn from the successes and failures of historic attempts at socialism like the USSR. Particularly 20th century socialism was focused on government ownership of enterprises. Presents 21st century socialism as based on worker self directed enterprises, or worker coops. Says this is actually more consistent with the original ideas of socialism including from Karl Marx for example. Gives examples of cooperatives like Mondragon and a few others. Says government should play a role in helping to create a strong cooperative sector in the economy, just like government plays a central role in creating and protecting the private capitalist sector. Says labor unions can help by using political power to pressure governments for that and can take ownership. Talks about Jeremy Corbyn and Labour Party's new plans for encouraging democratic cooperatives in the UK.

That's what I can recall but probably missing a lot too LOL.

[TBF]

4. Credit unions

better than the alternative, again only incrementalism (I feel I need to point this out and also point out the end goal)

Good: credit unions Better: socialize the banks (http://www.democraticunderground.com/102412024)

[TBF]

5. I rarely watch videos but I have written on Mondragon

in the past - http://www.democraticunderground.com/10244446

(you'll note in the comments that one of my favorite DUers Jackpine Radical was also interested in this area).

Good - coops
Better - when they don't have to compete against capitalism (which will eat them alive)