This course provides a working foundation in the core concepts of Marxian economic theory – necessary and surplus labor, labor power, surplus value, exploitation, capital accumulation, distributions of the surplus, capitalist crises, and the differences between capitalist and other class structures. In addition, these core concepts will be systematically used to understand current social problems (including political and cultural as well as economic problems).
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.
New York City Council
Committee on Community Development
TESTIMONY of Richard D. Wolff, Democracy at Work, Inc.
Richard D. Wolff
Professor of Economics Emeritus, University of Massachusetts, Amherst
Visiting Professor, New School University, New York
Member of the Board, DemocracyatWork.info
New York, NY
This article originally appeared at Truthout.org
Richard Wolff talks about "The Shape of a Post-Capitalist Future," his entry in the new anthology Imagine: Living in a Socialist USA, and his conviction that making the transition from capitalism to socialism requires a deliberate critique of capitalist workplace organization.
Leslie Thatcher for Truthout: What motivated you to choose (of all things!) "corporate structure" in your search for a "powerful, attractive and credible vision of socialism?"
Profesoor Wolff joins David Pakman to discuss redistribution of wealth and stock markets
Please click on this link to listen to the program: http://www.truth-out.org
Updates on Olympics, Chicago university faculty strike, Chevron's contempt, Gallup poll on unemployment, rising consumer debt again, Europeans oppose privatization of water, and US adults marry less to cope with economy. Major discussions: how Soviet socialism actually worked and decline and inadequacy of pensions in US. Response to listeners on deflation in today's world economy.
Updates on polls showing most Americans want less inequality, why Tea Party types fixate on government debt, and why French and other far right parties gain support. Major discussion on US business recognizing death of middle class, the contradictions of Germany's position within Europe's economic crisis, and Part 1 of analysis of what USSR was. Response to listeners on why official unemployment targets are 4-6.5 % rather than feasible and better 0-0.5 %
Please click on the link to listen to the program: www.truthout.org
Updates on major economic developments since December: Obama's minimum wage policy, the Federal Reserve's "tapering policy" and the new Janet Yellen leadership, slowdowns in China and the emerging markets, and Thomas Piketty's new book Capital in the 21st Century on capitalism and inequality. Major discussion of the chief causes and social effects of increasingly unequal wealth and income distributions, and the myth of returning manufacturing jobs in the US.