Marxian Economics

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).

Capitalism Hits the Fan Movie

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.

Economic Update: Meanings of Class

Updates on Swedish plan for peaceful transition beyond capitalism, ripoffs in car insurance, Ferguson, MO credit downgrade. Response to listeners on the CA drought and on best solution for corporate abuses like VW's. Major discussions of (1) what class means and what is at stake in different meanings, and (2) guaranteed income vs guaranteed jobs.

Prof. Wolff on TRNN: 38% of American Workforce Still Jobless.

Prof. Wolff discusses discusses why labor force participation is the lowest since 1977 and what's really needed to stimulate the economy.

Prof. Wolff on Tell Somebody, a weekly public affairs program on KKFI-FM 90.1, Kansas City community radio.

Professor Wolff sat down for a conversation with Tell Somebody.

Why Debates Over the Fed's Interest Rate Miss the Point

This article originally appeared at Truth-out.org

Capitalist Decline and a Way Forward

On September 13, 2015 Prof. Wolff spoke at All Souls Forum in Kansas City,    Capitalism is relocating to new centers in China, India, Brazil.  In its old centers like the U.S., economic prospects darken.  Worker incomes stagnate.  Multinational businesses force governments to lower their taxes and then either raise personal taxes, cut public services or both.  Decline results, but alternatives exist.  Changing the organization of our enterprises, according to Prof. Wolff offers a way to a better future.

Click here to listen to audio of Prof.

Economic Update: Puerto Rico as US's Greece

Updates on new Detroit book, Mayor's austerity policy in Chicago, homeless school children, soaring medical insurance deductibles. Responses to listeners on VW scandal and Pope's statements on economics. Interview with Prof. Ian Seda-Irizarry on current crisis in Puerto Rico.

Economic Update: Capitalism's Instability

Updates on GM settlement, Census Bureau proves no recovery for 90%, GE moves jobs overseas; responses to listeners on FED agonies over interest rates and how capitalism mishandles unemployment. Major discussion of WSDEs and capitalist corporations.

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