The Economic Crisis

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

Economic Prosperity and Economic Democracy: The Worker Co-Op Solution

This article originally appeared at (Image: Workers building via Shutterstock)

Workers' self-directed enterprises (WSDEs) are a response to capitalism's failure to deliver economic prosperity and socialism's failure to deliver economic democracy.

Economic Update: The Trend to Inequality

Updates on economic decline and meanness, car sales in China, McDonalds embarrassed, Cuba exports doctors to Brazil, and a campaign to rescue higher education from "efficiency." Major discussions of conservative inequality denials and of the significance of "productivity" statistics. Response to question on the nature, origin, and meaning of "profit."

Οι καπιταλιστές εκμεταλλεύτηκαν στο έπακρο τις ευκαιρίες της κρίσης


Richard Wolff on Capitalism and Socialism: An Interview with C. J. Polychroniou

This article originally appeared at  

Greek version of article available in the Non-English section of

Economic Update: Recent Economic History

Updates on Wisconsin's public employees, the GRAT tax evasion, and the last 50 years of the "War on Poverty." Major discussions of the FED's "taper program," the Boulder, CO vote to produce electricity production itself, and evaluating 20 years of NAFTA. Response to emailed question on AIG bailout and its results.

Economic Update: There Are Alternatives

Updates on dangers in anti-bacterial soap, South African union to start socialist party, Germans retire abroad, billionaires' whims shape health care. Major discussions of Obamacare and alternatives to capitalist bank scandals. Responses to emails on worker coops in US and on "regulated Capitalism."

Economic Update: Crisis Hits Puerto Rico

Updates on bee-killing pesticides; movements against austerity and inequality in Chile, New York, and Italy; university presidents’ 6-figure pay packages vs adjuncts’ exploitation; rejecting pay cuts, Minnesota’s orchestra reforms as worker coop. Interview NYU Prof. Juan Flores on deepening economic crisis in Puerto Rico. Response to questions: (1) bitcoins and (2) exceptions to constitutions that “guarantee” contracts.

Capitalism and Democracy: Year-End Lessons

This article originally appeared at


The David Pakman Show Interview: Real Progressive Economic Change

Professor Wolff joins David Pakman, host of The Pakman Show,  to discuss potential strategies to bring progressive economic change, including incremental vs systemic approaches, as well as economic rights, unionism, and small producerism.

Economic Update: Struggles over the Welfare State


Updates on tentative budget deal in Congress, psychiatrists refusing insurance, and austerity's terrible toll on Ireland. Interview with Yale History Prof. Jennifer Klein on rise, fall and possible rise again of the US welfare state and organized labor. Response to questions on possibilities of worker take-over of Boeing in Seattle.

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