Can Nationalizing Corporations Save Our Economy & Planet? Featuring Richard Wolff

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Can we nationalize our oil companies? Professor Richard Wolff explains what that means and why nationalization isn’t the fringe idea many thought it was.

The guessing game on the Federal Reserve is not whether rates will go up by 0.5% or 0.75% – but why rates are increasing.

Inflation is to blame, but how genuine is inflation? Are corporations increasing their prices to gain more profit?

Is one of the best solutions on prices, to nationalize corporations, or to leave them in private hands?

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Professor Richard Wolff joined Thom

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28 COMMENTS

  3. Yes. CEOs are using corporate money to cause turmoil. Use dark money to control the world.Sec. of Federal Reserve Powell is too old and clueless. You can remove the oil corporate charters because they are corrupt. Price guouging to cause inflation.

  8. hear me out; what if we created an 'industry commons'? The laborers are the ones who collectively 'own' the industry, and all the means of production.

  10. In its actual usage, the adjective "white" means something like "competent." So where do you find the competent people to run these nationalized industries when our elites' own ideology says we should give those jobs to inept diversitarians?

  12. Nationalizing the oil industry is a great idea I agree with Professor wolf on that point. However he is completely wrong about taxpayer dollars. Taxes don't fund the federal government folks it's not possible. Professor Stephanie Kelton Bernie Sanders Chief economist learn mmt please

  14. with our dependence on oil, there is no reason it shouldn't be nationalized.
    if tax payer money is being used to prop up any industry, they have already admitted that business model should not exist. if they want to continue to do business, they it should be owned by who is paying for it, taxpayers.

  16. Absolutely, by nationalizing you rest control of essentials from the few and the greedy, that these things have no business in their hands in the first place is not a new concept, its good for the planet and for everyone concerned nationalizing is only a dirty word to Neo-liberals and crony capitalists, if we continue to allow this the world will not survive.

  17. Yes… What you do is nationalise them temporarily and when everything settles down traverse it back. This is what the conservative Government should do with the Big Three as we call them in the UK but they ain't because there are political figures that Anonymously sit on the board of these corporations or they have friends and relatives that sit on the board or that that have a large stake in the corporation and by rationalising them they will lose money and that's why this would never happen in America the Republicans would have a meltdown even if Biden suggested this. They would take it to the courts and the Supreme Courts and would fight it tooth and nail township it even though it would be a good thing short term. But America is built on Greed and money and we both know that is true.

  18. Individuals, Families, – Citizens – own the nation's resources. We are all like little companies, and WE have seen OUR " Profits " slipping for decades … where is OUR Bailout ?

  22. About time. Nationalize oil, gas, water, coal and medicine. As Naomi Klein says in her book, This Changes Everything : Capitalism vs. The Climate, it is a matter of human survival, at the very least, anything close to a current lifestyle, to curb rapacious capitalism. Nationalizing fossil fuels, water and health care (Medicare for all) is a good start. The partial liberation of democracy is one essential result.

  24. That's quite a commentary today but Tom the #1 conversation we all should be having is the one that deals with the planet being taken over by the Oil Industry, answer to all the madness is….,,,Alternative Energy Systems !!!FREE THE HUMAN RACE, FREE THE END MACHINE NOW,,BY 2030 I'VE HEARD IT'S TOO LATE. add the new narrative will allow this to become
    REALITY FOR OUR CHILDREN'S CHILDREN'S CHILDREN THX.TOM

  26. 1. In 1990, a week after our U.S. Ambassador told Saddam Husein that the U.S. would not get involved in inter-Arab affairs. We invaded a country that never attacked us because of the Saudis and U.S. corporate oil interests. Hundreds of Americans died. Tens of thousands of Iraqis died.

    2. Six years after we exited Iraq, a Neoconservative think tank, funded almost certainly by Saudi and U.S. oil money, said that a "catastrophic and catalyzing event – _like a new Pearl Harbor,_" would be needed to get support for a second invasion of Iraq. Jeb Bush and ten people who went on to serve in the Bush administration signed PNAC's founding statement.

    3. On September 11th, 2001 this catastrophic attack miraculously happened, perpetrated by 19 men who were later financially tied to Saudi oil money. It's fair to say that oil companies paid for the flight training that allowed the planes to be flown into the twin towers even if it wasn't directly.

    4. In 2003, when we knew that Osama Bin Laden was hiding in Afghanistan, we split the U.S. forces and invaded Iraq again, killing more Americans than died on 9-11 and tens of thousands of Iraqi civilians.

    We need to nationalize the oil companies and use the profits from that privatized oil industry to transition the country to local, decentralized, renewable energy. The oil industry is like Moloch in the Bible. We've given these people the blood of our children. We've given the blood of other people's children. The money that we spent in the 2nd Iraq Invasion alone could have put solar panels on every house in the United States. Assigning a cost of $1.5-2 trillion dollars for the war, divided by 105-110 million homes gives enough money that we could have installed solar on every home in the U.S. We owe Big Oil nothing but revenge.

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