The Economic Crisis

Articles about the recession and financial crisis that began in late 2007.

Capitalism Hits the Fan Movie

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.

Economic Update: "Economic Realities"

Updates on big bank fines, Tracy Morgan sues Walmart, highway trust and taxes, extreme wealth inequality in the Hamptons. Major discussions of workers self-directed enterprises and Oxfam's data on extreme global wealth inequality. Response to listeners on relation of wages to prices and on economic "value" of solar, wind and green energy vs coal, oil, gas and nuclear.

Capitalism’s Deeper Problem

Marie Antoinette, Queen of France, in coronation robes, 1775. (Photo: Wiki Commons)

Recent press reports refer to troubling price increases for such assets as real estate, government bonds, companies targeted for acquisition and artwork. A New York Times front-page headline read “The Everything Boom, or Maybe the Everything Bubble.”

Capitalism’s Deeper Problem

Marie Antoinette, Queen of France, in coronation robes, 1775. (Photo: Wiki Commons)

Recent press reports refer to troubling price increases for such assets as real estate, government bonds, companies targeted for acquisition and artwork. A New York Times front-page headline read “The Everything Boom, or Maybe the Everything Bubble.”

Economic Update: "Banks and Other Outrages"

Updates on minimum wages in Europe vs US,  richest US families, and economics of immigration. Interview with Tom Sgouros on broken banking system. Response to listeners on overpaid CEOs.

Global Capitalism July 2014 Monthly Update

The lecture begins with 30 minutes of short updates on important economic events of the last month.  Then Professor Wolff analyzes several major economic issues. For July 9, these include: 1. Americans’ falling household wealth expose “recovery” 2. New global debt bubble threatens 3. Most large US companies evade taxes by off-shore “havens” 4. GM’s scandal: 30 million vehicle recall, $50 billion subsidies.

Economic Update: "It's the System"

Updates on vaccine price gouging, Canadian corporate misdeeds, Mass nurses fight inequality, Denmark's greater equality, Argentina as hedge fund hostage, and Gov Christie bombs again.  Major issues: GM scandals, US household wealth keeps declining, and US corps evade taxes.  Responses to listeners on Chinese food imports and Supreme Court decisions.

Giant Corporations, Giant Failures

(Image: General Motors, Crime scene via Shutterstock; Edited: EL / TO)

Richard Wolff speaks at University of Southern Maine: "Capitalism Hits the Fan, So Now What?"

This lecture Professor Richard Wolff entitled "Capitalism Hit the Fan, So Now What? Economic Democracy and America's Future," was part of a two-day event at the University of Southern Maine on April 23-24, 2014.

Global Capitalism: June 2014 Monthly Update

Professor Wolff discusses:

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