Capitalism Defined: Employer–Employee Power

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Dr. Richard Wolff is Professor of Economics Emeritus at the University of Massachusetts, Amherst. He is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University, New York City. He is also the co-founder of Democracy at Work and host of their nationally syndicated show Economic Update. In collaboration with his colleague, Stephen Resnick, he has developed a new approach to political economy. While it retains and systematically elaborates the Marxist notion of class as surplus labor, it rejects the economic determinism typical of most schools of economics and usually associated with Marxism as well.

In this episode, we talk about what Marxism is. We discuss what dialectical materialism is and how it relates to Marxism. And we also discuss how Marxists should approach Marxism, since scientific knowledge keeps evolving.

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