Wednesday, February 14, 2024

Richard Wolff on Capitalism



This is a fundamental misunderstanding of economics.  I have worked many different jobs with many different salaries.  Not one of these I could have earned the same amount of money working on my own.  I didn't have the resources.  It was my employer that provided the facilities, the equipment, the customer base, and the know-how that allowed the business to make money.  I voluntarily traded my labor for the resources that the employer provided.  On my own, I wouldn't have been nearly as productive.  I would have starved.

Voluntary exchange works.  

Richard Wolff has never run a business.  If he had, he would see the world differently.

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