College students are not happy with answers from professors. Students are challenging them. A tension is growing. Students are chained to student deb… - Richard D. Wolff

Well, you know, the irony is, it’s one of the bizarre ways an economy works. There was no incentive to take all that money and go in and produce things that might have driven up prices and so on, because the people in America can’t afford to buy it. Our wages have been stagnant. The debts have been so big that people are afraid to borrow the way they once did, even though they still do, but not at the growing scale as before. So, all that extra money kind of went into the stock market to make itself make quick money by buying shares, hoping that they would go up. And if all the rich people who get it into their hands do that kind of thing, you see the stock market go up, but the underlying economy doesn’t go anywhere. And again, after a while, that’s not a sustainable arrangement.

Companies around the world cannot make plans, cannot make investments, cannot make assumptions about what’s going to happen, because we don’t know what he’s going to do, we don’t know what the Chinese are going to do. But, you know, there’s a more deep historical problem here. And it’s really American history. When we became an independent nation, it was partly because we were held back—tea party, remember?—by the British. They had a rule: They wanted the colony to be subordinate. We didn’t want to do that as Americans, and we ended up pushing back against the control, the effort to hold back American development. We went to two wars: the Revolutionary War and, again, the War of 1812. The history records are not good about trying to squelch an upcoming economic power. China is today’s upcoming economic power. The effort to squelch and stop it is both likely to fail and extremely dangerous, because these trade wars have a nasty habit of becoming military.

If you don’t want inequality, don’t unequally redistribute it in the first place: Workers must equitably distribute all profit equally to all workers. After all, profit is merely surplus value of labor, and that belongs to all workers.