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66 - Postgame ft. Richard Wolff (Patreon)

Published:
2018-11-28 02:23:40
Imported:
2026-06
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During this postgame with Richard Wolff we talk Louis Althusser, the Marxist tradition, and Jordan Peterson. We also watch footage of an altercation between Wolff and Griscom.   

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Postgame - 66 - ft. Richard Wolff

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Comments

Bijou Smith

Before the postgame Wolff mentioned why it's important to "take away the reactionary ability to counter-revolt" (paraphrased). There's a good way and a bad way to do that. I'd love to hear Wolff or crew expand on this. My thinking was that non-violence is they key, and using gradual phase change rather than a sudden shock to the financiers and rentiers, seems the way to go. The point being we can tolerate their existing wealth, it need not be taxed away by draconian policy immediately, but the political power their wealth gives them has to be defanged, the policies need to change so that people know they have to work and be productive to keep their capital. I've read about Warren Mosler's policy recommendations, which seem a bit technocratic but come from fairly sound MMT principles, and so I think they need to be balanced by Corbyn-MacDonald type policies, along with a moral and ethical stance which introduces the notion that debt that can never be paid leads to a form of de facto slavery with no net economic benefits, in fact net loses to the economy, and along with radical changes to campaign financing that a majority of the public will back. This last aspect, if radical, has to be profoundly populist to succeed, even to the point of risking it in a national referendum. If you have Prof Wolff back on the show I'd love to hear his views on such things.

Bijou Smith

Varoufakis' major problem is not the single currency, he is a hell of a smart cookie, just read the ingenious plans he had to escape debt bondage in his "Adults in the Room" memoir. He knows how to deal with the common currency. His big problems are, (a) getting the Greek people to back him, they did when he agreed to be Syriza Finance Minister, but will the people have the patience to keep trusting him (answer is they should, but will they?) (b) The EU and IMF technocrats will rather destroy their own economies (although only the poorest will bear the burdens) rather than relieve Greece of it's debt obligations. The EU and IMF are quite prepared to self-sabotage just to spite Greece and make a "lesson" of the Greeks, as Yanis' memoirs recounting discussions with Christine Lagarde and Wolfgang Schauble abundantly document. They and their EU/IMF technocrats are all high criminals, at least by the standards of Biblical and Old Testament debt ethics. (c) He has to show people "debt obligations" are unethical, using Michael Hudson's work on the ancient debt Jubilee fresh starts, which were about releasing masses of people from debt-peonage slavery, and they way to do this is to squarely and fairly point out that the burden of someone's debt, once the interest becomes impossible to pay, is on the lender, not the debtor. The lender should not lend if they know someone will not be able to repay, or they should be willing to forgive debts if it comes to that. It is unethical to lend insincerely or fraudulently in the first place, not so unethical to default on a bad debt. If people understand this Varoufakis' job uniting Europe with his DiEM movement will be a lot easier.