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.
Professor Richard Wolff appeared at a fundraiser for KPFT 90.1 FM in Houston. He gives a compelling speech on what ails America and provides solutions. The second video is a Q&A session with the attendees.
Updates on Greek and Portuguese austerity struggles, obesity and Coca Cola, importance of U of Missouri, JC Penney's fake sales, and Macy's urgent sales. Response to listeners on politics, economics of TPP. Major discussions of (1) upcoming FED decision on interest rates and (2) economic causes of gentrified US cities.
“Immigration, Unaffordable Cities, and Bernie's 'Democratic Socialism'”
Co-sponsored by Democracy at Work, Left Forum, and Judson Memorial Church
These programs begin with 30 minutes of short updates on important economic events of the last month. Then Wolff analyzes several major economic issues. For November 11th, these will include:
Today's episode includes updates on Obama harshness re student debt, how much corps and rich abuse tax havens, MIT rejects fossil-fuel divestment, profit over safety at tylenol company. Prof. Wolff responds to listener on where US economy headed now. Interview life-long high school teacher Alan Schulman on teaching economics after the 2008 crisis: problems and prospects.
This article originally appeared at TheStreet.com
By now, everyone knows that Bernie Sanders calls himself a democratic socialist. What's not nearly as clear is what that actually means.
For voters who lived through the Cold War, the term "socialist" is loaded with baggage, dating to the assassination of the Russian tsar and his family in the early 20th century and Soviet Premier Nikita Kruschev's 1960s standoff with President John F. Kennedy over missiles in Cuba.