Since its origins, democracy has been a work in progress. Today, many question its resilience. The Bertelsmann Foundation and Humanity in Action have teamed up with Andrew Keen, author of How to Fix the Future, to launch How to Fix Democracy: a video and podcast series exploring practical responses to the threats facing democracies around the world. Host Andrew Keen interviews prominent thinkers, writers, politicians, technologists, and business leaders who enlighten and challenge us as we seek the answers to How to Fix Democracy.
In this episode, host Andrew Keen sits down with Richard D. Wolff, Professor of Economics Emeritus, University of Massachusetts, Amherst and a Visiting Professor in the Graduate Program in International Affairs of the New School University, New York City. In this interview, host Andrew Keen and Professor Wolff discuss the definition of capitalism from the Marxist perspective. When the system of capitalism experiences dire crises, Wolff argues, it has been natural to question the nature of the system itself, just as the financial crises of the early 20th and 21st centuries have prompted reforms of capitalism to varying extents. Today, the path to better political democracy, says Wolff, lies in stronger economic democracy.