The good professor shows us that there is no correlation between education and intelligence.

Thank God Peter has been so vocal. Forever greatful for his lessons from the Austrian School. FUCKING LEGEND!!!

This professor is intellectually challenged. The difference between classroom economics and real world economics. Peter your the man!

Professor Richard became a teacher because government programs keep bailing him and his students out.

Imagine being a University Professor and using China as your high water mark for socialism.

How does this professor not realize that a central bank is in and of itself anti-free market

This dude Wolf seems like an actor playing a shakespearian actor playing a professor playing an economist

Imagine being a professor in economics and knowing horseshit about the subject or history of US and federal reserve. First two federal reserves were disbanded for a reason.

Would love to see a long form debate between these two

The socialist solution to "capitalists" using their money to influence governments to do their bidding is to make the government even larger. Big corporations love big government. The bigger the government gets, the harder it is for small companies to compete in the market thus leaving big corporations free from any incoming competition.

Debating with a psychopath who lauds a dictatorship that has murdered the greatest number of innocents in the history of humanity.

Being a professor that wears glasses, wears a funny looking hat and is very condescending doesn't mean you are an intelligent professor.

Joseph McCarthy wasn't wrong, he was just too early.

Peter was toying with this old wind bag, making a fool of him.

DEFUND ALL COLLEGES

Well done. Also, how disingenuous does this guy have to be to believe China’s inflated gdp numbers.

Dear Professor Wolff: I found the perfect Christmas gift for you. Even if you don't celebrate, I think you'll love this book. It's called "How and Economy Grows (and Why it Crashes). " I know that you love (and teach the love) of free stuff, so it's on my dime. :D

Has Professor Wooof Wooof ever had a real job in the private sector? lol

So in many ways Woolf agrees with Schiff he’s just got his terms mixed up.

I used to be a fan of Professor Wolff, but I have since seen the error of my ways. Peter demolishes him here. Good to see! Also Peter if you are reading this I am a Connecticut resident and you are the only politician I have ever donated money to!!! Wish you won that senate seat! Love you man keep up the good work you are a light in the darkness.

Unbelievable. The communist “professor’’ is absolutely ridiculous. How can someone like that teach ?

please have a full conversation with this guy. it would be great to watch.

This professor is absolutely insane. Living a delusion.

Peter my hero. Thanks for your very educative videos. Socialists are very childish in their way of thinking.

richard needs to go back to economics 101

Peter is so correct, makes this guy look like a fool.

Wonder how intelligent professors can get so caught up in a patently false ideology? Preaching the merits of central planning gets you the support of established institutions, which support ideas that help them maintain their positions of power. When professors are more concerned about their popularity, paychecks, and power, than they are with the truth, they succumb to these dangerous ideologies. The truth that individual freedom and free markets are the best form of economy is difficult to profit off of, so it wanes in popularity as people become less principled. Just like eating healthy and living right is the real solution for most diseases, yet they don't get nearly as much attention as pharmaceuticals which can be sold at a huge profit.

I can't tell if Wolff is lying or is just not smart enough to grasp this.

Call it what you want. It’s a big club, and we ain’t in it.

Mixed statist economies always result in difficult conversations like this where causations and correlations are a mess to figure out.

Peter, on your next podcast can you do a deep dive into your claim about China embracing capitalism more than the US. I'd like to see your point verified.

We live in a country where everything is funded directly or indirectly by our government.... As a professor that should be obvious. These little hat people are disgusting.

He is in the system there for he stands up for the system he has been subsidized his whole life

How did you not see inflation coming when you print money by the droves

Go Peter !

Wolff says we have a capitalist system that's failing, and then says we used to have a capitalist system in response to peter pointing out the interest rate price fixing. Peter got him right there.

In upside-down world, Peter only makes sense to a few.

"Your problems are not with capitalism, they're with these socialist institutions that are creatures of government." ~ Peter Schiff

Dude is sitting there wearing a suit, glasses, and a hat that were made by capitalism.

The guy with the hat is the reason why or one of the reasons why I dropped out of college.

OF COURSE he wears one of those hats.

Absolutely love these Schiff debates keep it coming but it needs to actually get to some root of things help them find common ground and make clear where they disagree and why.

Classic debate between communism and free market capitalism. Communist blames economic failures on free markets when it's centralized big government that is DIRECTLY the cause. His solution? More big government 😂

Richard Wolff is the type of guy to ban profits after teaching for a profit

> Become Orthodox Christian > Buy gold & silver

Urghh...do either know that BOTH these systems are failures?!

“The people’s republic of China” 🤣🤣🤣🤣

Strangely enough, both are right

Maybe Peter Schiff should have given some examples of economic freedoms the Chinese have that Americans don't. You can't run a street food stall in most of the US without heavy regulation, you can't build over 2 stories tall in much of the US, 1/3rd of Americans needs a government license to work.

The real tragedy is that there are kids getting into debt to take the idiotic professors classes

“Government is not the solution to our problems, government is the problem.” ~ Ronald Reagan

Hi Mr Schiff, are there any channels to contact you regarding possible collaboration?

Everything the US gov does, the professor says, welp, that's capitalism. Peter on the other hand, knows everything the government does, is by definition, not capitalism.

From Cato institute article: There is no doubt that the post‐​Mao Chinese government pursued a series of reforms. But today, with the benefit of hindsight, we know that the economic forces that were really transforming the Chinese economy in the first decade of reform were private farming, township and village enterprises, private business in cities, and the Special Economic Zones. None of them was initiated from Beijing. They were marginal players operating outside the boundary of socialism. For these marginal forces, the Chinese government was happy to leave them alone as long as they did not threaten the state sector or challenge the Party’s political power. This created a room for what we called the “marginal revolutions” that brought entrepreneurship and market forces back to China during the first decade of reform.

Is there a part 2? At the end the lady host says they will be back after the break.

A face off I've wanted to see for years!!! Professor Richard Wolf (Communism) vs. Peter Schiff (Capitalism). Just wish it was longer and more in depth...

If America was so broken in the past then how was it the most prosperous nation in the history of the world for almost 200 years? Riddle me that professor

This is going to be a good one 👍

At least this professor is sincere. Peter Schiff also sincere and right on all points.

Good on you Peter!

Socialist: I know you are, but what am I

Here's Professor Richard Wolff's response to Peter: kzfaq.info/get/bejne/htOPg5uWnJiwqYE.html

Both socialism and capatalism would both work perfectly if it wasnt for the bad humans that ruin both with greed, corruption and dishonesty.

Peter you must have a weekly video podcast with Richard Wolff!

and now we know what is wrong with our education system!!!!

What about the tree interest rise in Powells early term?

Thank you Peter 🌹

reminds me of that book by Thomas Sowell "Intellectuals and Society"

America is a very socialist nation right now. How the professor thinks otherwise is surprising.

Wow! The ignorance of a blind profesor.

This was Epic.

You nailed it, Peter. I agree with you.

Perfect example for Rich dad poor dad.

We need a longer and more organized debate between you two

Those who can, do. Those who can’t, teach.

Their arguments aren't just tired, but utterly simplistic. Good things = socialism Bad things = capitalism

The excesses of Chinese capitalism are on show today in China with those independent corporations over leveraging their activities in real estate, and railway transportations as well as technology. No economic system is perfect and pure capitalism has often failed when monopolististic and oligopolistic structures interfere in the price mechanism often resulting in market failure.

A country can introduce some form of socialistic approach in terms of temporary expansion of the resources towards financial help for a few people who got into trouble ...It can be achieved only by real Capitlism being practised. Any other practice such as printing money will harm everyone regardless of the believes.

Thought it would be longer

I don't know how you do it, Peter, having to put up with shills like this guy.

BASED Peter Schiff

The natural rate of interest on fiat money is zero, Peter.

Richard Wolff is like that drunk uncle that just won't shut up during the holiday get-togethers.

We the U S funded china corporate and government are in bed together and remember they write policy they set the rules!

PETER SHIFF HAS STAYED CALM I CAN'T BELIEVE IT WEL DONE PETER

This was a blood bath, Peter killed this guy

The professors should go live in China if they're so much more advanced and their financial system works so much better

Pick any time period in any country and look at how well government intervention into anything is, which is sarcasm because they make everything worse

Why can't people understand that capitalism means we freedom. Socialism means the government runs our life's.

Because Powell says he is pro-capitalist, he is therefore capitalist? What did Ron Paul say? People should judge policies on their effect, not their intention, or something similar.

My Wolf has been chugging along as long as you Peter.

Using fake Chinese numbers to prove your point must be pretty disappointing

your smile at the beginning is priceless Peter now this is going to be fun😄

I’ve found most people in favor of socialism mistake cronyism for capitalism. Then they absolutely refuse to acknowledge a difference when you explain free enterprise doesn’t include Wall St bailouts. One guy I was speaking with wanted to “smash capitalism” and have all companies be employee owned. He refused to believe that happens and is still a form of capitalism. People get lost in definitions but most just hate the way things are as do I.

I think people clash, over Socialism/Capitalism too much for no reason, USA it's not Capitalist Country, a Country that subsidies agriculture, and bails out incompetent companies cannot be called Capitalist, France GDP contribution from state companies is astronomical high for a Capitalist country, Communism/Capitalism are utopic ideologies, as humans we could never implement both ideologies in full.

What's this? A repeat from 04 NOV? Meanwhile the stock if poised to tank; think 4100s on the SPX; resist the urge to buy this latest dip.

The problem really is MMT notice how prof avoids that subject

Comparing growth between 1.6 billion people in a developing country with 340 million in a developed country might be the the most brain numbing thing I’ve heard in a while.

When I read the comments I feel like I have to stand up for professor Wolff. He is a good guy. Dont forget: The enemies of freedom do not argue; they shout and they shoot.

100% with Mr. Schiff