Chapter
The Legacy of Paul Samuelson
38:47 - 44:32 (05:45)
Paul Samuelson's textbook, once considered the canonical book in economics, is no longer the only one. Furthermore, in every society, the majority of healthy adults have to work and produce more than they consume, as Marx argues.
Clips
Richard Wolff discusses the evolution of economics and how the teachings have changed over time, citing the major textbook "Economics" by Paul Samuelson, and mentions that he often teaches Marxian economics.
38:47 - 42:11 (03:24)
Economics
Summary
Richard Wolff discusses the evolution of economics and how the teachings have changed over time, citing the major textbook "Economics" by Paul Samuelson, and mentions that he often teaches Marxian economics.
ChapterThe Legacy of Paul Samuelson
Episode#295 – Richard Wolff: Marxism and Communism
PodcastLex Fridman Podcast
Marx's theory of production explores the relationship between the majority who work and the surplus produced in society.
42:11 - 44:32 (02:21)
Marx's Theory
Summary
Marx's theory of production explores the relationship between the majority who work and the surplus produced in society. He saw this surplus as an object requiring transformation for a better system.