Government budget deficits and the national debt are occasions more for demagogues to preach than for serious analysis. The usual suspects, conservatives and liberals, are gearing up for the election. Each side uses the large federal budget deficits and fast-accumulating national debt to beat its tired ideological drums. Conservatives insist that deficits and debts require huge cuts in government jobs and job benefits (especially pensions) and in social programs (especially Medicare and Medicaid).
There is no way the US can solve its tremendous financial problems within the settled economic system. America must go beyond capitalism, argues Richard Wolff, an economics professor at New School University, in an exclusive interview with RT.
RT: Where do you think the US economy is right now?
Richard Wolff: The crisis that was bad in the US, then became bad somewhere else (in Europe), is heading back to America to give us as many problems now as we see the Europeans having, but we will have them a little bit later.
Richard Wolff is respected for his critical thinking and ability to explain economics to the rest of us. Peter Collins and Richard Wolff talk about the origins of our current problems, the political blame game, and how Americans bypass the true culprits. They talk about Apple’s $100 billion cash stash, most of which is stashed offshore awaiting tax breaks that won’t produce jobs as they claim. Richard Wolff responds to Romney’s claims that regulations stifle business and job growth, and offers interesting comments about Columbia Prof.
Richard Wolff appears on KGNU radio with Jim Banks and speaks on healthcare. Issues such as lives lost due to financial strains, healthcare in other parts of the country, some of the context of the healthcare proposition by President Obama, and other political problems are touched upon.
On March 18, the Left Forum in New York hosted a panel to explore economic alternatives to capitalism, with Gar Alperovitz, author of America Beyond Capitalism , and David Schweickart, professor of philosophy at Loyola University in Chicago and author of After Capitalism.
A thank you to Gar Alperovitz for this audio.