Ask Prof Wolff: Does Capitalism Increase Wealth?

A patron of Economic Update asks: "Is there any evidence to support the idea that capitalism is responsible for the increase in wealth seen in the western countries during the 20th century? Or can it all be explained by technological advancement, and exploitation of the global south? Are there any other factors that contributed significantly to this increase? To what extent can capitalism be credited with aiding technological advancement, considering that basically all new developments seem to be the result of government spending, either wartime spending or government funded university projects?"

This is Professor Richard Wolff's video response.

Ask Prof Wolff is a @Democracy At Work  production. We are committed to providing these videos to you free of ads. Please consider supporting us on Patreon.com/economicupdate. Become a part of the growing Patreon community and gain access to exclusive patron-only content, along with the ability to ask Prof. Wolff questions like this one! Your support also helps keep this content free to the public. Spreading Prof. Wolff's message is more important than ever. Help us continue to make this possible.

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Learn more about Prof Wolff's new book, "The Sickness is the System: When Capitalism Fails to Save Us from Pandemics or Itself," available now at www.democracyatwork.info/books

“A magnificent source of hope and insight.” - Yanis VaroufakisGreek economist, academic, philosopher, politician, author of Talking to my daughter about the economy


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