Frequently Asked Questions

Questions below were sent to Professor Wolff by visitors to the site and the answers provided are his response.

Are you proposing adopting the old USSR system, Putin's managed capitalism, China's whatever system, or what?
Why is the issue of money not a central one?
Can socialism in whatever form gain political traction in Europe without revolution?
That Oregon taxed the rich does not seem to have affected the unemployment rate last August. What did the tax in Oregon accomplish, do you think?
How can we communicate this message to the broad majority of Americans who are by any standard of Economics, poor?
What is the Marxian definition of corporation? How is it different from the mainstream definition?
How do you feel wealth should be measured in our society? Should ownership of corporations (stock) be used or consumption levels – or something else entirely?
With rising productivity and stagnant wages over the past 30 years or so, where does the expanding supply of middle and low skilled workers come into play on this issue? Is mass collusion by business leaders to keep wages down involved?
An article in Barrons said public sector employees can "spike" their pensions, rolling over sick and vacation time to increase pension checks – some even worked two state positions to receive two pensions. Is this true?
What impact would a million-dollar cap via the death and/or estate tax have on national debt and society, and is there any chance for this to happen? Didn't our founding fathers want to remove the nobility class and being born into wealth?
Is the massive shift of the tax burden from corporations to individuals a statistical mirage?
How would taxing HNWI (High Net-Worth Individuals) 10% to raise 1.28 trillion dollars impact stocks and bonds, and what would the tax mean for future methods of handling crises?
I often hear free-market advocates mention "marginal utility" as the alternative to labor theory of value but rarely explain why. Could you give a summary of marginal utility, and what its impact is on the labor theory of value and Marxism in general?
What is “market socialism”? Can markets and socialism coexist?
Can socialism and religion get along?
Has neoclassical economics – sometimes called marginalism – destroyed the labor theory of value?
How could a large company possibly work if all workers ran it together?
What might theology and theologicans have to contribute to the key economic debates in the Congress early in 2011?
What are some resources I could use to verify statistics that you are using in your presentations?
With individual debt being a significant cause of the present economic crisis, what effect would individuals getting completely out of debt have on the present crisis?
What can I do other than vote to contribute in a positive way and promote change - in particular, while having limited free time to spare?
With individual debt being a significant cause of the present economic crisis, what effect would individuals getting completely out of debt have on the present crisis?
Can socialism, in whatever form, gain political traction in the United States without revolution?
That Oregon taxed the rich does not seem to have affected the unemployment rate last August – Idaho has lower unemployment than Oregon, for example. What did the tax in Oregon accomplish, do you think?
How can we communicate this message to the broad majority of Americans who are by any standard of Economics, poor? Is there any stratagem against these well-funded attacks and influence by the American Plutocracy that divide the population so effectively?
What is the Marxian definition of corporation? How is it different from the mainstream definition?
What are your thoughts on the social and class undercurrents in France that seem to continue to this day?
In France, there seem to exist organizations that call people together and into action, and knowing they will not be alone, people might be more willing to participate. Who could call for a strike in the United States?
Where can I get empirical statistics on the rate of surplus value across different countries? I have a feeling that this will tell us about who really makes the world's wealth.
How would the hypothetical Silicon Valley startup change with growth, such as having thousands of employees?
What is your take and analysis of the progressive caucuses "People's Budget?"
Why is it we Americans have significantly fewer demonstrations than those in Europe, like in France or Greece?
Can worker cooperatives possibly be the foundation for socialism, given that the most modern historical efforts such as the Israeli Kibbutzim have failed or become capitalist corporations? The idea might be called Utopian.
What is the core of Neo-Marxian philosophy as you see it?
Which English translation of Capital do you recommend?
Is the federal reserve the real source of power/control in a society of capitalism?
Why do you think economics is the only real area where the left is so supressed? Do you think it is because economcis deals with the bottom line for the capitalists: money?
"What if” real wages had not stagnated in the 1970s? What effect, quantitatively, would that have had on our account deficit year after year?
Did imperial powers gain more from imperialism than they spent on acquiring and keeping hold of the empire? Or should it be seen as an internal class issue within the imperial nations? And do you recommend any particular books on this matter?
Why did the phenomenon of stagnant wages appear in the 1970's and not before?
Are corporations unfairly double taxed?
Has the historical moment for a challenge to capitalism arrived? Can a movement for democracy now arise and succeed?
What are your thoughts on elections?
How can anything be communist which exists only to produce commodities for market? I told my students that this surplus crop would not be a commodity because it was not produced for the PURPOSE of market exchange.
When did large-scale debt begin in the United States?
I have heard you say a few times that the government borrows money from the rich and that the rich pay no tax on the interest, how is that?
How does your description of the politicians borrowing to pay off previous debt differ from Madoff's Ponzi scheme? Why is Madoff in jail & the politicians wandering around free to cause more damage?
Few people give credit to Labor groups and the Left for putting pressure on politicians during the depression era, but are those people who argue that it wasn't the New Deal as much as WWII that got us out of the depression?
Do you recommend organizing from within the Democratic Party or is joining that party an endorsement of its conservatism? What other options are there?
How did Marx treat the issue of who owns the means of production – such as the factory, tools, computers, and other equipment provided? Does ownership justify profit?
How would you use Marxian class analysis to understand civil servants who often produce goods or services worth less than their wages?
What is the difference between ownership of the means of production and the class relations outlined in Marxian theory?
How does investment from rainy-day investors, like those with pension contributions, impact shareholder demands on returns on investment?
What exactly is a "traditional" American family, and how is it modeled as a feudal economic system?
Using a three person business enterprise as an example, how would decision making and raising capital be addressed, especially in the "soviet" method of voted weighted according to salary?
What is in your opinion on the actual cause of the global economic crisis?
What is this so called 1%? Who does it represent and who does actually benefit on the rest of the world's back?
What is really going on in Greece?