Wolff's presentation articulates  the logic behind replacing "Capitalism" with worker-owned enterprises. I will call this "modern Marxism" since there are many ways to replace capitalism - worker-owned coops being one of them. There is a profound misunderstanding about wage stagnation - the "basket of goods" radically changes over the years. This is the same fallacy as the idea that GDP "measures" something that can be compared between countries across decades. He's right about the growth of debt, which seems to be baked into 21st-century capitalism. In fact, money, the most liquid form of capital, is always equal to the debt that created the money in the first place . China is not capitalist. Wolff's idea of outsourcing is relevant but maybe not to China. He loves a "politically controlled workforce." Maybe not coherent with his praise of China and worker coops. Are there worker coops in China? Or is China inheriting all t...