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.
Prof. Wolff joins Peter Lavelle on RTTV"s CrossTalk to discuss the question of social justice. As America’s two major parties move toward anointing their presidential nominees, there is a growing sense of disaffection and even insurrection among voters. And this has set the business-as-usual political and financial elites into a panic. It is all their own fault.
Les Leopold and Inderjeet Parmar are also interviewed.
Crises Deepen: Shifting Socialisms, Exploding Debt, Strange Elections
Co-sponsored by Democracy at Work, Left Forum, and Judson Memorial Church
These programs begin with 30 minutes of short updates on important economic events of the last month. Then Prof. Wolff analyzes several major economic issues. For the month of May, these will include:
Prof. Wolff joins News.Markets and explains why official US jobs numbers don't reflect the real state of the US economy and the average US worker. He believes the US needs a slice of the UK's Jeremy Corbyn to combat extreme inequality.
Prof. Wolff joins The Big Picture's Thom Hartmann and discusses the lack of economic democracy in the current economic system. For a large chunk of the American workforce - capitalism is no longer working the way it's supposedly designed to work. Is it time to look for alternatives to the free market? And if so, where? Prof. Wolff offers Worker Self-Directed Enterprises (WSDE) as a solution.
Prof. Wolff joins David Pakman to discuss the implications of the Panama Papers leak.
Prof. Wolff speaks to The Levy Economics Institute. Sponsored by: Economics Club; Economics Program; Hannah Arendt Center; Levy Economics Institute.
Prof. Wolff analyzes the economy of the US from a Marxist perspective. Capitalism yields an unequal distribution of wealth, creating unsold products, resultant from production power exceeding the purchasing power of the bulk of society. Credit is then created to fill the gap until the credit cannot be repaid. The system collapses, and the elite cause the victims of the collapse to be taxed en masse, to reset the system for another round.
The Varieties of Socialism: An Economic Analysis
Prof. Wolff joins Sophie Shevardnadze of RT America to discuss the American Election campaign.