The Economic Crisis

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

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.

Welcome to Econ...A Q&A with Richard Wolff

This article originally appeared at

Global Capitalism: December 2013 Monthly Update

Updates and analyses of the last month's major economic events. We focus on the global capitalist economic crisis, government responses, and the growing challenges to contemporary capitalism. We examine resistances to "austerity," "deficit reduction" and other programs aimed to "socialize" the costs of capitalist crisis. Alternative theories for understanding these issues are considered. Likewise, we examine alternatives to capitalism as solutions to today's economic problems. When time permits, we open the floor to general discussions.

RT TV Interview: How Wall Street Bankrupted Detroit

RT TV's Abby Martin interviews Professor Richard Wolff about the recent district court ruling on Detroit's bankruptcy and how it could affect the pensions of thousands of city workers.

Economic Update: Capitalism's Inequalities

Updates on Detroit's and Illinois's attacks on public employee pensions, minimum wages, tiny middle east oil countries take over global air travel, job openings vs unemployed, and companies' profit-driven hustles of dangerous flame-retardant chemicals. Major discussions of (1) redistribution policies versus not distributing unequally in the first place and (2) Capitalism's uneven development. Response to emails on free trade's consequences, robotics/less labor versus doing labor differently, and government repression against opponents of austerity policies.

Worker Coops And a New Strategy For Labor

A talk delivered at the Joseph S. Murphy Institute for Worker Education and Labor Studies, City University of New York

Economic Update: Giving Thanks?

Updates on seriously wrong solutions for real economic problems (in Hawaii and at Walmart), 10 big companies paying the lowest wages, Pope's assistant with strong critique of capitalism, correction on Swedish economics prize. Major discussion on the economics of organized religion and separating the issue of full employment from respecting the environment. Response to listeners on Philippine typhoon and critique of seeing "capitalism" as root of all evil.

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