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).
- Published on April 12, 2012VIDEO
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.
- Published on April 8, 2012AUDIOUpdates 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.
- Published on April 4, 2012VIDEO
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.
- Published on April 2, 2012AUDIO
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.
- Published on April 1, 2012AUDIOUpdates discussed pay for Ford's CEO Alan Mulally compared to Ford hourly wages as low as $15; US Treasury's ongoing subsidies to 350 banks; Brazilian President criticizes US monetary policy; and why mass transit is best response to high gas prices. Major analyses of (1) "market solutions" versus other ways of dealing with situations where supplies are less than demand such as college courses, food, and housing, and (2) the extreme austerity policies of Greece and Spain arriving here in the Republican's proposed budget plan.
- Published on March 29, 2012AUDIO
Richard Wolff appears on KGNU radio with Jim Banks and speaks on healthcare. Issues such as lives lost due to financial strains, healthcare in other parts of the country, some of the context of the healthcare proposition by President Obama, and other political problems are touched upon.
- Published on March 28, 2012AUDIO
On March 18, the Left Forum in New York hosted a panel to explore economic alternatives to capitalism, with Gar Alperovitz, author of America Beyond Capitalism , and David Schweickart, professor of philosophy at Loyola University in Chicago and author of After Capitalism.
A thank you to Gar Alperovitz for this audio.
- Published on March 25, 2012AUDIOUpdates on economic problems of law students and new lawyers; federal prison industries; high schoolers fighting school budget cuts successfully; Italy's unemployment; and states' pension "reforms". Detailed analysis of US health system: highest costs plus poor health outcomes = failures of capitalist health system.