The Republican Party may have its doubts about Mitt Romney, but when it comes to Wall Street it is a completely different story. Financial executives are throwing their support, and their money, behind Romney's bid for the White House.
Figures released recently show Wall Street has shifted its support toward the former Massachusetts governor and away from Barack Obama, the US president.
Charles Murray's new book, Coming Apart,is criticized as a "blame-the-victim" argument applied to the white working class just as Patrick Moynihan applied it to the African-American working class in the 1960s. Murray excludes and thereby exonerates the economic system from responsibility for working class suffering and dysfunction; he blames instead character flaws somehow newly developed in that class.We develop a counterargument that locates the behaviors of both the 1% and the 99% in their logical responses to a dysfunctional economic system.
Professor Wolff speaks about the role of money is US politics, particularly in relation to the elections on Al Jazeera English
This article originally appeared in the Guardian's Comment is Free on February 9, 2012
Big announcements of breakthrough legislative deals during election campaigns should be taken with huge grains of salt. Generally more rhetoric than reality, they sometimes contain real concessions made by politicians seeking votes. So it is with Thursday's Washington announcement of $25bn to help homeowners. Something significant is happening, but it lies below the surface of the headlines.
The interview took place on Making Contact
Occupy Wall Street has changed the conversation about the distribution of wealth, and an economic framework which for decades, has been taken for granted. So what now? What policy changes and initiatives should the movement be pushing for? On this edition, University of Massachusetts at Amherst emeritus economics professor Richard Wolff speaks about some of the roots of, and solutions to, the economic inequality that’s finally being acknowledged.