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).
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.
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.
Prof. Wolff opens up the Rosa Luxemburg Conference in NYC on 08-21-2015. Topic of the talk is Rosa Luxemburg.
Saving capitalism, looming economic downturn, Berlin 250,000 against TTIP, US plan to give Puerto Rican taxes to banks. Response to question on planning. Interview: Laura Flanders, independent journalist on coops vs capitalism.