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Understanding Capitalism

The great German playwright, and political figure, Berthold Brecht, observed that to understand fascism you have to understand capitalism, from whence it springs. Today, it is also helpful for us to understand that the rise of fascism in Germany 100 years ago, has parallels we can see now with the rise of fascism in the United States.

Prior to World War I, which began in 1914, the German working class and middle class were relatively prosperous. The German unions were strong and influential. Prior to World War I, Germany also had the largest and strongest socialist party in the world, and it was the second largest political party in the German Parliament. The German economy was booming. And German culture was the jewel of Europe.

This all came to a crashing end in 1917, when Germany was defeated in what was an inter-imperial war against the United States, France, Great Britain and Russia. The consequences of that defeat brought us fascism and World War II, 20 years later. In the 1920’s, inflation wiped out the savings of the German people. When the depression hit in 1929, the German working class was desperate. The ground was fertile for the rise of Adolf Hitler, a ruthless, cunning and violent demagogue.

Here in the United States, our economy boomed for 100 years, from the end of the Civil War until the 1970s. But since then, American workers have not made any progress. Their wages, in real terms, have not risen in 50 years! “Neo- liberalism”, which is just another word for aggressive capitalism, has wiped out 30 million industrial jobs in the US, starting in the 1980s. Women were driven back into the workforce. People had to work two jobs just to keep up.

In Germany, it was the Jews who were blamed. Here in the US, it is immigrants and people of color who are scapegoated. The demagogue Trump, like Hitler before him, is a captivating speaker and a very effective cult leader, who is now poised to take the power of the government and turn it against “we the people.”

Guest – Richard Wolff is Professor Emeritus from the University of Massachusetts, and the author of the forthcoming book, “Understanding Capitalism”. According to New York Times, Richard Wolff is, probably America’s most prominent Marxist economist.  He is the founder of Democracy at Work and host of their national syndicated show Economic Update. Professor Wolff has authorized numerous books on capitalism and socialism, including most recently “The Sickness is the System: When Capitalism Fails to Save Us From Pandemics or Itself“, “Understanding Socialism“; and “Understanding Marxism”, which can be found at democracyatwork.info.

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Present Danger Of Fascism In The United States

The rise of Donald Trump and his MAGA supporters has transformed American politics, perhaps more than anything else has since the gathering of forces of the rebellious slave owners in the south, a century and a half ago. His first four years in office were chaotic, uninformed programmatically, and not animated by any kind of cadre of capable administrators. It was, instead, full of his statements and actions that many critics deemed to be racist, sexist and Xenophobic.

He lost the election in 2020, although he received 74 million votes! As he runs for the Presidency again, this time he is talking rather openly about wanting dictatorial authority, if he is elected again.

And this time if he does win, he now has the aid of the right-wing Heritage Foundation, which has produced the 900-page “Project for 2025” document on how to radically change our country so as to make it far, far more conservative, providing far fewer rights to the American people, and allowing any president so inclined, to run the country as an authoritarian, a virtual dictator. He has an authoritarian right wing Supreme Court, which in its latest decision, aptly named “Donald Trump versus the United States of America,” has given the presidency carte blanche immunity, placing the president above the law, allowing the president to do almost anything he or she wants to do, as long as it’s deemed to be “an official presidential act”.

Today’s program is the lead off to a series of shows on fascism, how to resist it, and how to defend against it. I will be conducting this series with my co-host, Michael Smith, who cannot be with us today due to illness.

Guest – Chris Hedges, the journalist and author spent two decades as a foreign correspondent serving as the Middle East Bureau Chief and Balkan Bureau Chief for The New York Times where he was awarded the Pulitzer Prize. He is the author of 14 books including War is a Force That Gives us Meaning, Days of Destruction, Days of Revolt, which he co-wrote with the cartoonist Joe Sacco, and The Death of the Liberal Class.

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