Economic Update: How US Capitalism Uses Nationalism

Economic Update: How US Capitalism Uses Nationalism 35,738 views •May 3, 2021 2.7K 39 Share Save Democracy At Work 236K subscribers [S11 E17] How US Capitalism Uses Nationalism From 1945 to 1990 we were told a great struggle pitted capitalism against socialism/communism (chiefly the USSR and China). Yet still today, US leaders demonize Russia and China despite the end of communism in the USSR and a huge growth of capitalist enterprises in China. The explanation lies in US capitalism's long history of using nationalism (i.e. foreign dangers) to justify tax-payer funded government actions to protect, subsidize, and support major capitalists' dominant position in the US economy. **Economic Update with Richard D. Wolff is a @Democracy At Work production. We make it a point to provide the show free of ads. Please consider supporting our work. Donate one time or become a monthly donor by visiting us at democracyatwork.info/donate or become a patron of Economic Update on Patreon: https://www.patreon.com/economicupdate. Your contributions help keep this content free and accessible to all. Now more than ever, sharing Prof. Wolff's message is critical. ______________________________________________________________________________________ Learn more about Prof Wolff's new book, "The Sickness is the System: When Capitalism Fails to Save Us from Pandemics or Itself" released in September 2020. Available as a paperback now! www.democracyatwork.info/books "Richard Wolff in his new book examines frightening and anti-democratic configurations of corporate power, offering not only a blueprint for how we got here, but a plan for how we will rescue ourselves and create new models of economic and political justice.” - Chris Hedges Check out Prof. Wolff's other books "Understanding Socialism" and "Understanding Marxism" http://www.lulu.com/spotlight/democra... ______________________________________________________________________________ Follow us ONLINE: Patreon: https://www.patreon.com/economicupdate Websites: http://www.democracyatwork.info/econo... http://www.rdwolff.com Facebook: http://www.facebook.com/EconomicUpdate http://www.facebook.com/RichardDWolff http://www.facebook.com/DemocracyatWrk Twitter: http://twitter.com/profwolff http://twitter.com/democracyatwrk Instagram: http://instagram.com/democracyatwrk Subscribe to our podcast: http://economicupdate.libsyn.com Shop our CO-OP made MERCH: https://democracy-at-work-shop.myshop... 660 Comments Auggie Giuseppe Add a public comment... Skrailing Skrailing 1 week ago 99.9% of our media is owned by the oligarch donors. All of their media outlets are fear and hate fomenters. War mongering, drumming up fear for the war profiteers. 81 MonoFrutti MonoFrutti 1 week ago I'm a simple worker. I see prof. Wolff, I press like. 109 Lela Yang Lela Yang 1 week ago Very few are like you Professor Wolff in the West. Praise for your great insight and honesty. 85 Barklord Barklord 1 week ago Imperialism, the Highest Stage of Capitalism, by Vladimir Lenin. 104 ashley mistletoe ashley mistletoe 1 week ago I wish professor wolff a long long life so the world could be wiser and saner with his light. 152 Caleb Greenhill Caleb Greenhill 1 week ago Just signed up for Patreon. There is no other source of information like this that I've found in my life. Great speaker / teacher, talking about issues that truly matter. Thank you Prof. Wolff. 35 Peter A Peter A 1 week ago (edited) Excellent analysis Prof Wolff. How big is a Billion or even a Trillion? Just remember: a million seconds is 11 DAYS, a billion seconds is 31 YEARS and a trillion seconds takes us back to the Stone Age. By the Bronze Age we'd worked out how to deal with debt. A time when all personal debts were regularly forgiven and everyone was happy. 50 DAVID FOUST DAVID FOUST 1 week ago Professor Wolff is really on his game these past few episodes. So brutal at taking down the absurd narratives pushed by the media. 17 Shin Chin Shin Chin 1 week ago (edited) Chinese here... The insight is so clear that everything becomes reasonable. Thanks, professor Wolff. 18 treefrog3349 treefrog3349 1 week ago So-called "patriotism" is merely a measure of how deeply you drank from the artificially-concocted brew of nationalism you were eagerly provided with. 36 Bjorn Baron Bjorn Baron 1 week ago Fantastic presentation. Really enjoyed it. 15 Buffalo Lodge Buffalo Lodge 1 week ago Brilliant! A masterpiece! 18 Stephanie Carrow Stephanie Carrow 1 week ago Once again, an excellent, succinct and important analysis. Wish more would hear this. Thank you, Prof Wolff! 16 Leticia Cortez Leticia Cortez 1 week ago as usual a great informative show, Prof. Wolff. I thank you. 15 Vincent Quintero Vincent Quintero 1 week ago Profesor Wolff you are the best honestly 35 AxiomBlurr AxiomBlurr 1 week ago (edited) Australia is a small echo chamber of American politics. The fervent nationalism being stoked in America is now ringing here in Australia, it has become a key factor in the deteriorating relationship between Australia and China. Australian politicans have failed to learn from the history Dr Wolff so eloquently elucidates here. Thank you so much Prof Wolff for all you do. 18 4mihigh 4mihigh 1 week ago This clip of Prof. Wolff reminds me of one of the most valuable experiences that I have ever had. It was in 1990/1 when I was working a part time job during Jr. College as a dockman on The San Jacinto River. We were just yards away from The San Jacinto Monument and The Battleship Texas (BB35). Thats where I met Soviets for the first and last time. When I first showed up at my dock that day I had absolutely no idea that I would have a huge Soviet ship tied to it. They were supposed to be our enemy. I was briefly intimidated by the giant hammer and sickle prominently displayed on the ships funnels. I then looked just ahead of the ship on the opposite bank and saw The Battleship Texas (BB 35) and The San Jacinto Monument, (where Texas won it's war for independence from Mexico) we were on the former battleground. That intimidation instantly vanished. My family was extremely and uniquely involved in Texas' growth, then independence, so I refused to be intimidated right there... on my dirt. I also realized that The Battleship Texas was on station shelling Normandy on D-Day which opened the Western front up to the Allied invasion taking some of the pressure off of The Soviets who were our allies batteling the Nazis on the Eastern Front. Usually I worked a 16 hour shift twice a week, sometimes more if I wanted overtime. I had plenty of time to meet the enemy and share the significance of that spot to the English speaking members of the crew. I would pause while they translated to the others. I was aware of how they were really listening and paying close attention. The ones interperting would point at the same things and say it in Russian. I'll never know if they were correctly translating my words or just telling the others 'just act interested in what this guy is saying and keep nodding'. It felt like a great talk to me, I was enjoying sharing Texas History. One Russian speaking guy asked one of the English speaking guys to ask me if "I had family that fought at The Alamo", I heard the word Alamo among some Russian words. I replied yes, then explained how there were two battles at the Alamo. The first battle was called 'The Battle of Bexar', thats when the Texians took it from the Mexicans and sent them back to Mexico...without their cannons. The second battle is when the Mexicans came and took the Alamo back and killed almost everyone. The second is the famous battle everyone knows. I then told them about Goliad...and 'The Runaway Scrape' and how that led to us looking at what we were looking at. I talked for over an hour. I was truly honored by their "Boss" they called him, whom I would learn later that evening was the Soviet political officer...not the Captain, who invited me to dinner later that evening. It was an amazing experience. My duties as an oiler only required me to be at the manifolds, not far from the top of the gang plank on the main deck. I had never been invited within a ship before..especially not for dinner on a Soviet ship. Most of the guys went back to their duties but a few stayed and talked for a couple of hours until he suggested that we go aboard and see some of the ship before dinner. I called the controll room to let them know that I was going aboard so they would know to get me by radio if they needed me. I entered the first door and immediately saw the red line that denotes the boundary beyond which was ' Sovereign Soviet Territory '. I read a statement posted there and signed their log book. After the tour of their ship we all sat together in a common area just outside the " Boss' " office and talked before dinner was served. I wish that I could express the pleasure of visiting with them to yall but it was truly something that you can only fully appreciate by experiencing it. I enjoyed watching the anticipation on the faces of the non-English speaking crew as they waited for what I said to be interpreted to them. Laughter is an international language. When I would say something that caused the guys to laugh the others were so eager to get the translation that they couldn't contain themselves. It was so much fun. We just kept asking about life in each others countries as well as their interests in Texas and if being Texan and American were the same. At one point I said something that even had the political officer howling with laughter from his office after which he just joined us. I had asked them "is it true that in some parts there were no stray dogs in the USSR because they had to eat them to keep from starving". The English speaking guys fell apart crying laughing and the others were demanding an interpretation. It was amazing. I ofen wonder if they were filming our interaction and if it could be possible that there is a recording of it somehow that I could get. They surprised me by asking to have a close look at my blue jeans tags/labels. Here I was the only American on the ship and I took off my #6 fuel oil stained Levis and handed them over so they could inspect the stiching and tags. I was wanting an interperter at that point because there was such intense discussion among them in Russian about my pants and everyone trying to get a close look at them as they were being passed around. I momentarily thought that I might be part of some kind of plant hazing or joke from some co-workers by having to come off that ship without my pants. However when one of the English speaking guys asked me if these were "real Levis" and I answered "I didn't know where to get fake ones" I could tell from their expressions that their interest was genuine. I told them that I had a few pair in my locker. Thats when I learned that if something was not welded to the deck of the ship, it was something that could be traded for Levis blue jeans. The guys looked at "The Boss" and he just gave them a look that said 'go ahead'. I not only traded them my jeans from my locker but I told them that I'd trade the ones that I was wearing if they had clean Soviet overalls like the ones they were wearing, so I wouldn't be pantless. No problem. I was picking stuff out, making some trades, I had a nice pile of stuff inside a large canvass bag sitting just inside 'The Sovereign Soviet Territory', or door... for me to carry home after dinner. I felt like I was looting the place. I'm wearing a new pair of Soviet overalls when they brought out caviar and vodka. I thankfully declined the vodka, because I was at work, but I tried the cavier. I was impressed that they served caviar, but was unsure about trying it. I ate some on some kind of cracker but didn't chew it all up. They showed me how to properly 'savor' cavier which includes a sip of vodka. I might have savored a bite or two before dinner. Then at dinner they kept rolling stuff out.. we had seafood, roast beef, potatoes, corn...and several kinds of bread. A few things like asparagus and some kind of mixed vegetables I didn't try but they had so much to choose from that I didn't feel rude. I am not very good at trying new foods. They were great hosts. Conversation over dinner was different because there was mixed languages as well as some translation and clarification while eating. What absolutely...overwhelmed me was among the pies and various desserts they made a cake, it wasn't fancy, just basic yellow cake or something and frosted it like the Texas flag. They did a really nice job, they even stuck a single Soviet toothpick flag and a single U.S. toothpick flag in the cake. I was clearly visably moved by their thoughtful presentation. I realized right then that they had probably began preparing that cake before we traded for my jeans. I believe that my having shared the historical significance of exactly where we were in relation to Texas' History as well as the unity we felt when I shared the significance of The Battleship Texas and it having fought as an allied ship in WWII on D-Day is what made the cake. I remembered how one guy excused himself right after I gave them the Texas History lesson earlier in the day. He may have been one of the cooks. Anyway when they presented the cake their tradition I guess was to let me cut the first piece. The Boss had returned back to his office, which was connected to the dining area where we were. When I cut the cake I took the first piece over to him in his office and thanked him for his hospitality and asked him if I could get him some Levis'. He seemed like a good guy and the crew seemed to genuinely like him. He gave me their schedule and it would be possible that they would still be there two days later when I came back, but not probable.(Weather can effect the fueling process.) So I went ahead and asked him to show me approximately what sizes he would like his jeans. He didn't want them all his size, he wanted one pair but the others were going to be gifts so he asked me to get them a little larger so they could be taken in if necessary. Thats when I realized that Levis' of any size would be appreciated. When I went back to eat my cake I let the guys know that I was going to try to bring them back some more Levis in two days. 6 Frank Mark Frank Mark 1 week ago A lot of people with high IQs are terrible investors because they’ve got terrible temperaments. You need to keep raw, irrational emotion under control 37 d d 1 week ago Very informative 7 4mihigh 4mihigh 1 week ago (Part 2) Thats when I realized that Levis' of any size would be appreciated. When I went back to eat my cake I let the guys know that I was going to try to bring them back some more Levis in two days. I let them know that they would be used Levis but I'd get as many as I could afford. Their money was of no use to me, so they traded me more Soviet stuff. They were very happy with this arrangement and shared how much they could trade them for them back home but especially how they wanted to bring back some for their women. I completely understand their wanting to impress some special girl back home. These Soviets were not so different a species as I had been led to believe. They just wanted some American stuff and since everything they traded was cool with the boss, it was fun for me. I tried to not be greedy but they had cool gear. They certainly wanted Levis. I rounded up a few more pair from some of the other guys in the plant. I then asked them if they wanted a Texas postmark on any letters they wanted mailed and that I would take their stuff to the post office. They liked that idea and went off to their bunks to write letters. They said that they had some kind of international stamp that should work just fine. I told them that I'd cover any costs if it wasn't too expensive and a few of the guys let me know which letters they'd prefer get mailed if I could only afford to mail a few. I asked The Boss if he wanted to mail one and he thankfully declined. It was already morning by now so we had pastries and tea for breakfast and I was working out how to say goodbye, and how I'd try to get some jeans back to them. I got all my stuff arranged and one guy carried my bag of loot and I carried the mail back down the gangplank and rejoined the free world. I took their mail straight to the post office and handed it to the mailwoman she looked at it as if she saw it everyday, said the stamps were fine and I paid for the ones that didn't have stamps, the total was less than $20. I have no idea if they made it to where they were supposed to go. I then went to Foley's where I got an employee discount because for several years I'd work there during Christmas, so I bought three pair of new Levis for The Boss. I just left the recipt in the Foley's bag. I then bought up several duffel bags of Levis at Goodwill and took them back out to the plant the next day. I put the Foley's bag in there and got them to one of the guys who was out on the dock. I caught them just as they were fixin to leave in the next few hours. The Houston Shipchannel pilot was already aboard and getting his flag ready to raise, but I didn't go back aboard the ship. I handed off those duffel bags to one of the Soviets and he kissed me on both cheeks and seemed happy to go show the others. I don't think he spoke English. Yep you caught me. I cut class that day to go spread some American capitalism to those dang Commies and get kissed by a dude. It was less than a year later when the Soviets closed up shop permanently. It was my Levis blue jeans that ended the cold war. They got home and started trading those jeans and the place just fell apart with capitalism. I am sincere about how special an experience that was to me. I've always wondered about how the guys made out when the Soviets split up. I wonder what The Boss is up to, I guess he had to find a new job. Perhaps he traded his Levis well and secured something for himself. I really appreciate your perspective Professor Wolff. It's definitely not the people that cause problems between nations and economies. I liked their kind of Communism and I think they appreciated my kind of Capitalism. I represented America well, and did it in a Texas style. 2 Indonesia Menggugat Indonesia Menggugat 1 week ago Illuminating knowledge. Warmest hug from Indonesia, Richard..