For tonight's "Conversations with Great Minds" Thom Hartmann is joined by an economist Richard Wolff whose many books and more than four decades of teaching have focused on Marxian economics, economic methodology and class analysis. He is professor of Economics Emeritus at the University of Massachusetts - Amherst and is currently a visiting professor in the Graduate Program of International Affairs at the New School University in New York City. His latest book is Capitalism Hits the Fan: The Global Economic Meltdown and What to Do About It.

More and more we hear that nothing can be done to tax major corporations because of the threat of how they would respond.  Likewise, we cannot stop their price gouging or even the government subsidies and tax loopholes they enjoy.  For example, as the oil majors reap stunning profits from high oil and gas prices, we are told it is impossible to tax their windfall profits or stop the billions they get in government subsidies and tax loopholes.

Why did last week's royal wedding in London attracted millions of UK and US spectators? What social functions did the distraction serve with its huge costs just when economic austerity is official policy and with its celebration of marriage and family just when strains and breakdowns afflict both institutions in both countries? We explore the psychology and economics of the spectacle.

On April 8th, 2011, Richard D. Wolff gave a presentation to at the University of Vienna to the students, faculty and general public.

A thank you to the University of Vienna for providing these recordings.