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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).

Economic Update: "Private Profit vs Social Benefit"

Updates on my Bill Maher appearance, the Arizona execution, direct actions in Seattle and in New England (market basket stores), Derek Jeter tickets, and Chinese meat scandal. Major discussions of Obama's low polls, the changing meaning of socialism, and differences between private profit and social well-being. Response to listeners on auto and beef industries, credit unions, and bullies.

Economic Update: "Economic Realities"

Updates on big bank fines, Tracy Morgan sues Walmart, highway trust and taxes, extreme wealth inequality in the Hamptons. Major discussions of workers self-directed enterprises and Oxfam's data on extreme global wealth inequality. Response to listeners on relation of wages to prices and on economic "value" of solar, wind and green energy vs coal, oil, gas and nuclear.

Economic Update: "Banks and Other Outrages"

Updates on minimum wages in Europe vs US,  richest US families, and economics of immigration. Interview with Tom Sgouros on broken banking system. Response to listeners on overpaid CEOs.

Economic Update: "It's the System"

Updates on vaccine price gouging, Canadian corporate misdeeds, Mass nurses fight inequality, Denmark's greater equality, Argentina as hedge fund hostage, and Gov Christie bombs again.  Major issues: GM scandals, US household wealth keeps declining, and US corps evade taxes.  Responses to listeners on Chinese food imports and Supreme Court decisions.

Economic Update: Analyzing Incarceration

Updates on health economics, Mississippi political lessons, and whats wrong with a Harvard economist. Interview with Victor Wallis, on economics and politics of US prisons. Response to questions about: gender wage gap, real estate bubbles, and the "ultra richer" except in Latin America.

Economic Update: Economic Codependency

Updates on rising rates of young men earning below-poverty wages, Detroit's retired city workers accept 4.5% cut in pensions, Missouri government struggles over tax cuts for special interests. Major discussions of (a) new book on China-US codependency and (b) how/why our economic system works and breaks down. Response to listener's question on corporate taxes.

Economic Update: "Capitalism's Mounting Contradictions"

Updates on RI Senate rewards firms limiting inequality, recession-driven increases in suicide rates, opposition to Dodd-Frank, negative effects of lower federal deficits, human costs of Detroit-type decline. Major discussions of economics of advertising and privatization. Response to questions on British real estate bubble and on worker cooperatives deciding on uses for their surpluses/profits.

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Equal Time Radio podcast: RIchard Wolff on Piketty: Inequality, the Wealth Divide & Lessons from Our Past

Professor Richard Wolff, author of Democracy at Work: A Cure for Capitalism, discusses Thomas Piketty’s Capital in the Twenty-First Century's research on inequality and the wealth divide while also offering a more systemic critique of capitalism. Piketty’s book is an exhaustive examination of income inequality, based on a formidable database that he and others assembled, that is available online.

Equal Time Radio podcast: RIchard Wolff on Piketty: Inequality, the Wealth Divide & Lessons from Our Past

Professor Richard Wolff, author of Democracy at Work: A Cure for Capitalism, discusses Thomas Piketty’s Capital in the Twenty-First Century's research on inequality and the wealth divide while also offering a more systemic critique of capitalism. Piketty’s book is an exhaustive examination of income inequality, based on a formidable database that he and others assembled, that is available online.

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