The Economic Crisis
Articles about the recession and financial crisis that began in late 2007.
This article originally appeared in The Monthly Review.
Global capitalism has huge problems coping with the second worst collapse in its history. Its extreme and deepening inequalities have provoked millions to question and challenge capitalism. Yet socialists of all sorts now find it more difficult than ever to make effective criticisms and offer alternatives that inspire.
Democracy at Work is partnering with the Left Forum and Judson Memorial Church to continue the Monthly Economic Update lecture series.
Updates on food insecurity, oil disaster economics, politicos go to Wall Street, billionaires buy homes, education In UK and US sustains elites. Major discussions of (1) employers' movement for a 4-day workweek, and (2) history of socialism vs capitalism (part 1 with part 2 next week) which was also response to many listeners' questions.
Updates on Burger King, French socialism, cell phone overcharging, Bank of America's fine. Major topics: advertising industry and once more on no recovery. Responses on Michigan teachers union fight, poor still kept out of US top colleges, corporate stock buybacks.
Professor Richard Wolff joins RT TV's Thom Hartmann for Conversations with Great Minds.
Updates on govt. housing for Johnny Cash, inequality and growth, economic lessons from Ferguson. Interview on Retirement Crisis in US with Prof. James Russell. Responses to questions: (1) how government subsidizes Walmart (with Food Stamps plus….), and (2) economics of advertising.
The lecture begins with brief updates and analyses of major economic events over the last month. For August these include: -inequality and the fading "American Dream" -bubbles in sub-prime car loans and student debt -workers begin pushing back -internal economic tensions of Republicans and Democrats