The Economic Crisis
Articles about the recession and financial crisis that began in late 2007.
Watch as Professor Richard Wolff breaks down the root causes of today's economic crisis, showing how it was decades in the making and in fact reflects seismic failures within the structures of American-style capitalism itself. Wolff traces the source of the economic crisis to the 1970s, when wages began to stagnate and American workers were forced into a dysfunctional spiral of borrowing and debt that ultimately exploded in the mortgage meltdown.
“Basic Economic Changes Today: Within and Beyond Capitalism” Judson Memorial Church Assembly Hall 239 Thompson Street at Washington Square, Manhattan Co-sponsored by Democracy at Work, Left Forum, and Judson Memorial Church These programs begin with 30 minutes of short updates on important economic events of the last month. Then Wolff analyzes several major economic issues. For this April 8, these will include: 1. Basic Economic Changes: From Anti-austerity to Anti-capitalism 2.
Updates on inadequate unemployment insurance, Ted Cruz's campaign money, law giving domestic workers real benefits, and demonizing the poor. Responses to questions on California drought and US medical system's experiments on people. Interview with Yochai Gal on TechCollectives he organized: two successful worker coops.
Updates on Trans-Pacific Partnership secrets, the Heinz-Kraft merger, the overly costly, underperforming US medical care system, fines for Graco selling faulty child car-seats, China’s real-estate bubble, and estate tax repeal by Republican House. Response to listener on property: private versus public. Major discussion of how system change happened in the past and and how in capitalism today.
Professor Wolff examines how and why capitalism's crisis following the sub-prime lending debacle is actually deepening - not nearing an end as reported by most media. Additionally, Wolff explains how the social impact of that crisis in the US, Greece, Spain, and beyond are building to a historic change in our world.
RT TV's Boom Bust asks Prof. Wolff where he thinks the US economy is headed. Wolff gives his take on why, despite apparently good jobs numbers, many in the US believe the economy remains fragile.
Updates on pizza politics, changing currency values, and tax-cutting politicians’ wild claims. Responses on workers coops’ competitiveness and on ‘unfree’ agricultural markets. Interview Walter South on economics of housing and dangerous economics of US cities and suburbs.