Ask Prof Wolff

A Patron of Economic Update asks: "I stumbled upon your video about dialectics about a month ago and I was wondering if you could do more? I appreciate that you made the connection between economy and philosophy."

A Patron of Economic Update asks: "Dear Professor Wolff, could you discuss 'economics' at not-for-profit academic hospitals? How do these hospitals afford the salaries of highly paid administrators (CEOs, Deans, Chairs, etc) who do not contribute to surplus labor (patient care)? Are some of these hospitals using 'nursing shortage' as an excuse to implement austere measures by loading more work on to fewer surplus laborers?"

A Patron of Economic Update asks: "Can Prof Wolff please explain what it means when a country declares bankruptcy? Like in Sri Lanka?"

A Patron of Economic Update asks: "Hello Prof. Wolff, I came across this article that shows there's a study on 'Re-imagining' Capitalism (https://hewlett.org/newsroom/major-philanthropies-launch-effort-to-establish-multidisciplinary-centers-at-leading-academic-institutions/). Why is the Hewlett Foundation engaging Howard University's Center for an Equitable and Sustainable Society? Could this be a way of making capitalism favorable to excluded and disfranchised people of color finally, or is it something finessing the issue? With no real commitment to rewrite the ills capitalism has caused to the black community and other minority groups?"

A Patron of Economic Update asks: "I have always been interested in how workers would build personal wealth and assets in a socialist society like how they usually do in capitalism. What would personal investments look like?"

A Patron of Economic Update asks: "Can you be both a Marxist and a market socialist and, if so, how?"

A Patron of Economic Update asks: "I was wondering what Prof. Wolff's opinion is on this video (youtube.com/watch?v=xguam0TKMw8) in terms of the accuracy and prediction. It's from billionaire Ray Dalio talking about economics and the US decline and the future. I'd love to get your take."

A Patron of Economic Update asks: "My original understanding of your position and approach to creating more worker coops was that it could NOT really be successfully done by any government forcing changes in the internal structure of enterprises. I have heard that during Stalin's time that was tried, but failed. My understanding of your position was that, while the government could help in some ways, any large increase in the number of worker coops would have to occur by people deciding themselves to get together and forming worker coop structured businesses. But some of your recent videos seem to indicate that you are not against having governments mandate and force such changes in internal structuring of enterprises. Please create a video where you make your position on this very clear. I personally am totally against capturing government and having governments force internal structure changes."

Two Patrons of Economic Update ask: "Can you please explain the difference between the government borrowing money (from the corporations/rich/other countries) vs. printing money? What are the differences between government bonds for financing infrastructure projects or public goods, and borrowing money from corporations and billionaires for those same projects and services? What if bonds are bought by rich people and corporations to get the tax write offs?"