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.
A conversation about capitalism with two brilliant minds, Cornel West and Prof. Wolff, together in a rare joint appearance.
Greece was rocked with reports over the weekend about secret plans by a faction of the anti-austerity Syriza Party, to possibly transform the currency from the Euro to the Drachma.
Updates on Coke vs Pepsi war, price gouging on cancer drugs, Corwyn good for UK Labor Party, and new Pope's strong anti-capitalist speeches. We respond to listeners' questions on guaranteed basic income and on why public employees are not an economic negative. Major attention is given to supporting countries that refuse to pay certain govt debts and especially to Greece in a review of is dramatic recent struggles.
Prof. Wolff talk about Greece and explains why the furor over a secret contingency plan to leave the Euro and go back to a Greek currency is misplaced and inappropriate on CPRmetro radio.
“Winners and Losers in Today's Shifting Capitalism”
Prof. Wolff joins The Big Picture RT's Thom Hartmann: "Is China’s Bubble About To Burst? Look Out US!"
Prof. Wolff joins The Big Picture RT's Thom Hartmann to discuss the latest on China. China - the world's second biggest economy - recently saw its stock market plummet 30 percent in a month. Does this mean that next big economic crisis is right around the corner?
Today's program focuses on two alternatives to capitalism. The first is an alternative to how capitalism organizes enterprises in terms of their internal workings and relationships. We examine workers self-directed enterprises: how they work and how they compare to capitalist enterprises. In the program's second half we look at an alternative to how capitalism organizes the economy as a whole: the socialist tradition that has evolved multiple different forms in the world today.