Understanding Capitalism

Understanding Capitalism

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w/ Economist RICHARD D. WOLFF
Co-founder of Democracy at Work
Author · Host of Economic Update

The position of the United States in the world, economically and politically, is the weakest it has been in my lifetime. I was born in the middle of the 20th century, so I have watched the rise of the American empire and the success of American capitalism in the second half of the 20th century. However, over the last 20 years, I have watched that turn into its opposite—a decline. The decline is visible everywhere. Unless you live in the United States and consume mainstream media, there is a level of denial that will be recorded historically as one of the great examples, not just of a declining empire, which typically has people who cannot face it and who refuse to see it. You can go to Great Britain today and find quite a few people who think we still have the British Empire, even though everyone who isn't crazy knows that is silly. But we are earlier in the decline phase than the British are; they have had to endure it for a century while we have just had to do it for a couple of decades. It is fresh.

NICHOLAS KRISTOF

NICHOLAS KRISTOF

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Pulitzer Prize-winning Journalist · NYTimes Op-Ed Columnist
Author of Chasing Hope, A Reporter's Life · Coauthor of Half the Sky · Tightrope · A Path Appears

I'm trying to get people to care about a crisis in ways that may bring solutions to it. And that's also how I deal with the terror and the fear to find a sense of purpose in what I do. It's incredibly heartbreaking to see some of the things and hear some of the stories, but at the end of the day, it feels like–inconsistently here and there–you can shine a light on problems, and by shining that light, you actually make a difference.

JEFFREY SACHS

JEFFREY SACHS

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President of UN Sustainable Development Solutions Network
Director of Center for Sustainable Development, Columbia University

The US signed several statements in 2021 confirming that NATO would enlarge. Russia massed troops on its border and put on the table a draft US-Russia security agreement on December 17th, 2021 based on no NATO enlargement. The Biden administration formally replied that it was not willing to negotiate over that issue in a response in January. Then Russia invaded on February 24th, 2022. Four weeks later, Zelenskyy declared that Ukraine was accepting of neutrality. In other words, the initial Russian invasion brought Ukraine to the negotiating table, and during the second half of March, with the Turkish government being the mediators, Russia and Ukraine hammered out a peace agreement. Incredibly, the United States blocked it because the United States told the Ukrainian government: you fight on.

YOLANDA KAKABADSE

YOLANDA KAKABADSE

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Fmr. Minister of Environment, Ecuador
Fmr. President: WWF Int’l, World Conservation Union, Founder Fundacion Futuro Latinoamericano

One of the reasons why we haven't been able to overcome many of the climate crisis factors is because people don't understand what it means. What is it about? What can I do? Usually, when we hear these experts speak about the climate crisis, at least me, I don't understand 9/10ths of the speech or the document. Simplifying the message, allowing that difficult scientific knowledge to become popular language that I can use when explaining to a child, to a rural person, to someone who has a different type of education, that knows much more about the planet but not necessarily about university, explaining those difficult issues will make a difference. And we have to invest much more in that. Speaking difficult scientific language is not helpful to the majority of society.