Democracy at Work: A Cure for Capitalism by Richard D. Wolff

By Richard D. Wolff

"Richard Wolff is the top socialist economist within the nation. This e-book is needed studying for somebody focused on a primary transformation of the unwell capitalist economy."—Cornel West

“Richard Wolff’s optimistic and cutting edge principles recommend new and promising foundations for a way more actual democracy and sustainable and equitable improvement, principles that may be applied at once and carried ahead. a really priceless contribution in afflicted times.”—Noam Chomsky

"Probably America's so much widespread Marxist economist."—The ny Times

Capitalism as a approach has spawned deepening financial concern along its bought-and-paid-for political institution. Neither serves the desires of our society. if it is safe, well-paid, and significant jobs or a sustainable courting with the average setting that we rely on, our society isn't offering the consequences humans want and deserve.

One key reason for this insupportable situation is the inability of actual democracy in our economic climate in addition to in our politics. the answer calls for the establishment of real monetary democracy, beginning with employees directing their very own places of work, because the foundation for a real political democracy.

Here Richard D. Wolff lays out a hopeful and urban imaginative and prescient of the way to make that attainable, addressing the various those who have concluded monetary inequality and politics as traditional can not be tolerated and are trying to find a concrete software of action.

Richard D. Wolff is professor of economics emeritus on the college of Massachusetts, Amherst. he's at present a vacationing professor on the New university for Social examine in ny. Wolff is the writer of many books, together with Capitalism Hits the Fan: the worldwide financial Meltdown and What to Do approximately It. He hosts the weekly hour-long radio software Economic replace on WBAI (Pacifica Radio) and writes frequently for The Guardian,, and MRZine.

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Extra resources for Democracy at Work: A Cure for Capitalism

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There are quite a few contradictions within usual belief systems. Here are some examples. • The ideology of capitalism is a free market in labour. 18 • Sexual and racial discrimination is incompatible with a labour market based on merit. • A free market in services implies the elimination of barriers based on credentials. For example, anyone should be able to practise as a doctor or lawyer. A key group involved in shaping belief systems is intellectuals. Although universities are attacked by right-wing commentators as havens for left-wing radicals, in practice most academics, journalists, teachers, policy analysts and other knowledge workers support or accept the basic parameters of the capitalist system.

As capitalist economies move from the industrial era to postindustrial society or information economy and move from national economies to a global economy, what people recognise as capitalism is transformed. The word “capitalism” is used because the system is based on private control of capital, namely the means of production. To call this a free market system is a misleading euphemism. Markets are quite possible without private ownership. The “free” in “free market” implies freedom from state control, but actually it is the state that protects the conditions that make capitalist markets possible.

A nonviolence-oriented analysis of capitalism needs to be geared to this strategy. Furthermore, the analysis needs to be one that can be readily understood and implemented by grassroots activists; it cannot be something that is the preserve of a small band of intellectuals. Of course, it is sensible to draw on insights from various analyses of capitalism and its effects, including Marxism, political economy, environmentalism, feminism, and theories of underdevelopment and neocolonialism, among others.

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