Articles

  • Global Capitalism - A Monthly Update & Discussion (February 2012)

    These Tuesday evenings will each begin with an update and analysis of major economic events of the last month and their contexts of longer-term economic trends shaping politics and society here and abroad. We will focus on the evolving global capitalist economic crisis and its consequences. We will examine topics such as

  • What Capitalism Delivers

    Article first appears in MRZine on April 16, 2012.

    Most Presidents preside over one or more capitalist downturns (recessions, depressions, crises, etc.). Every President since at least FDR generated a "program" to respond to the downturn -- as demanded by citizens and businesses. FDR and every later President promised that his program would "not only extricate the US from the present economic troubles but will also make sure neither we nor our children need face such downturns in the future." Obama is only the latest to do so.

  • Flashpoints Interview - Continuing the Fight Against Foreclosures

    Richard Wolff appears on Flashpoints to speak with CJ Holmes and Dennis Bernstein to provide an economic update as well as touch on the continuing foreclosures.

  • How 1% and 99% Experience Capitalist Crises Differently (Podcast)

      Around facts of unemployment, people living alone, children and the elderly, we discuss how differently the 1% and the 99% experience capitalism’s crisis. The 1% and their government have ignored widespread suffering and social costs that react back upon capitalism negatively. Yet massive government support goes mostly to the top banks and other corporations that threaten that they are “too big to fail.” Capitalism has proven to be an unjust, inefficient, and self-destructive system.
  • Political Economy Prospects April 2012 (Blog)

        Real wages over the last year are flat to down (depending on whether one looks at hourly or weekly numbers). Together with continuing high unemployment, high home foreclosures, reduced job benefits, increased job insecurities, and a continuing trend of replacing relatively higher wage jobs with lower wage jobs, prospects for a return to prosperity and growth are dim indeed. The spikes in auto loans and student loans will not likely last long.
  • Economic Update on WBAI Apr 14th, 2012

    Updates on huge fines for major pharmaceutical firms, long-standing huge wealth redistribution from richer to poorer states by Washington, and crisis in public higher education funding. Major interview with Dr Harriet Fraad regarding profound psychological costs of capitalism's instability.
  • Occupying Our Future: Solutions to Capitalist Crisis

    Richard Wolff offers a compelling new manifesto for a democratic alternative to capitalism based on workers direction their own workplaces. The solution requires the institution of genuine economic democracy as the basis for a genuine political democracy. The event took place at Columbia College Chicago on March 27th, 2012.

  • Deficits, Debts and Demagogues

    Government budget deficits and the national debt are occasions more for demagogues to preach than for serious analysis. The usual suspects, conservatives and liberals, are gearing up for the election. Each side uses the large federal budget deficits and fast-accumulating national debt to beat its tired ideological drums. Conservatives insist that deficits and debts require huge cuts in government jobs and job benefits (especially pensions) and in social programs (especially Medicare and Medicaid).

  • Economic Update on WBAI Apr 7th, 2012

    Updates on April 6 US govt report of sharply reduced hiring, national protest against mass transit cutbacks, Dallas Fed admits failure and nationalization of major US banks, high European unemployment, and North Dakota's 100-year support for a public bank and a public grain storage and mill company. Major analysis criticizes claims that government budget deficits and debts are caused by workers' pensions, Medicaid and Medicare costs; actual causes shown to be the post-2007 crisis and deep cuts in taxes on corporations and the richest individuals.
  • Capitalism in US Runs Dry - RT's Interview

    There is no way the US can solve its tremendous financial problems within the settled economic system. America must go beyond capitalism, argues Richard Wolff, an economics professor at New School University, in an exclusive interview with RT.

     

    RT: Where do you think the US economy is right now?

    Richard Wolff: The crisis that was bad in the US, then became bad somewhere else (in Europe), is heading back to America to give us as many problems now as we see the Europeans having, but we will have them a little bit later.

     

  • The Peter Collins Show hosts Richard Wolff on the Economic Crisis

    Richard Wolff is respected for his critical thinking and ability to explain economics to the rest of us. Peter Collins and Richard Wolff  talk about the origins of our current problems, the political blame game, and how Americans bypass the true culprits. They talk about Apple’s $100 billion cash stash, most of which is stashed offshore awaiting tax breaks that won’t produce jobs as they claim. Richard Wolff responds to Romney’s claims that regulations stifle business and job growth, and offers interesting comments about Columbia Prof.

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