- As public anger with bankers remains high, we ask how big a role financiers will play in the US presidential elections.Published on February 25, 2012VIDEO
The Republican Party may have its doubts about Mitt Romney, but when it comes to Wall Street it is a completely different story. Financial executives are throwing their support, and their money, behind Romney's bid for the White House.
Figures released recently show Wall Street has shifted its support toward the former Massachusetts governor and away from Barack Obama, the US president.
- Published on February 25, 2012AUDIOWe discuss how the tiny top and the increased bottom of the US economic system have very differently experienced economic crisis since 2007. We suggest some specific programs urgently needed and also draw some lessons about what basically has to change.
- Published on February 25, 2012AUDIOUpdates on workers' sit-in this week at Chicago window factory, French presidential election as a referendum on austerity response to capitalist crisis, and failure of US to prosecute financial crime. Interview with Economics Professor Richard McIntyre, University of Rhode Island, on today's "jobless recovery," comparing workers' militancy in the 1930s to conditions today, questioning "human rights" as the way forward for workers and unions.
- Published on February 23, 2012VIDEOThis month, I am testing a trial partnership with ForaTV to disseminate widely the Monthly Economic Update I prepare. Fora TV charges $5.95. For three years, all my interviews, articles, lectures, blogs, podcasts and radio programs have been free. Most will continue to be. However, because my team of four devote much time and effort to arrange, tape, process, and post each item to reach the maximum number of people, they need some remuneration.
- Published on February 18, 2012AUDIOUpdates today on the crisis/looming civil conflict in Greece over austerity program, on the real wage decline and productivity growth in US during 2011, and on overcrowded prisons versus "falling" crime rate. Guest interview of Prof. William Strickland, African-American Studies, University of Massachusetts discussing economic crisis and African-Americans, the economic impact of Obama and the legacies of WEB DuBois, Malcolm X, and MLKing.
- Published on February 14, 2012AUDIO
Charles Murray's new book, Coming Apart,is criticized as a "blame-the-victim" argument applied to the white working class just as Patrick Moynihan applied it to the African-American working class in the 1960s. Murray excludes and thereby exonerates the economic system from responsibility for working class suffering and dysfunction; he blames instead character flaws somehow newly developed in that class.We develop a counterargument that locates the behaviors of both the 1% and the 99% in their logical responses to a dysfunctional economic system.
- In reality, a $25bn mortgage deal with banks is a drop in the ocean – given US homeowners' $700bn of negative equityPublished on February 9, 2012
This article originally appeared in the Guardian's Comment is Free on February 9, 2012
Big announcements of breakthrough legislative deals during election campaigns should be taken with huge grains of salt. Generally more rhetoric than reality, they sometimes contain real concessions made by politicians seeking votes. So it is with Thursday's Washington announcement of $25bn to help homeowners. Something significant is happening, but it lies below the surface of the headlines.
- Published on February 8, 2012AUDIO
The interview took place on Making Contact
Occupy Wall Street has changed the conversation about the distribution of wealth, and an economic framework which for decades, has been taken for granted. So what now? What policy changes and initiatives should the movement be pushing for? On this edition, University of Massachusetts at Amherst emeritus economics professor Richard Wolff speaks about some of the roots of, and solutions to, the economic inequality that’s finally being acknowledged.