Over the last 10 days, Harvard students twice stopped business as usual at this richest of all US private universities. An Occupy Harvard encampment of tents followed a large march of many hundreds through the campus protesting Harvard's complicity in the nation's extreme inequality of income and wealth. A week earlier some 70 students walked out in protest of Harvard's large lecture course in introductory economics. They too explained that they were acting in solidarity with Occupy Wall Street (OWS) movements.
- Published on November 8, 2011VIDEO
These Tuesday evenings will each begin with an update and analysis of major economic events of the last month and their contexts of longer-term economic trends shaping politics and society here and abroad. We will focus on the evolving global capitalist economic crisis and its consequences. We will examine topics such as
- Published on November 1, 2011VIDEOIn the below animation and audio presentation, Wolff explains what class is all about and applies that understanding to the foreclosure crisis of 2007–2011. He argues that class concerns the "way our society splits up the output [and] leaves those who get the profits in the position of deciding and figuring out what to do with them...
- Published on October 30, 2011AUDIO
Richard Wolff was invited to speak at the Schonberger Peace and Social Justice Lecture at the University of Maine on October 20th, 2011. The recorded audio touches on many of the normal analyses with some additional attention to recent events.
- It's official: wealth inequality accelerated over the past quarter century. The American dream was never a more hollow promisePublished on October 26, 2011
Appeared originally in The Guardian "Comment is Free" on October 26th, 2011
A demonstrator tapes a dollar bill over his mouth in the Occupy Miami protest. Photograph: Joe Raedle/Getty Images
The just-released Congressional Budget Office report, Trends in the Distribution of Household Income Between 1979 and 2007, supports a basic claim of the Occupy Wall Street (OWS) movement sweeping the country: that deep economic inequality is corrupting politics, culture and American society as a whole.
- On Wednesday, October 12th 2011, the New America Foundation released a bold new plan to pull the global economy back from the brink. Economists give The Daily Beast their views. Plus, read the details of the proposal.Published on October 25, 2011
Jared Bernstein, senior fellow, Center on Budget and Policy Priorities
I think the authors are absolutely on the right track. and they’re smart to get outside the usual constraints—they essentially ignore issues like “shovel ready” or how our economy could actually absorb $240 billion a year in new infrastructure projects without trying to drink from a firehose. They say we will help underwater-mortgage holders who can ultimately service their loans but not the ones who can’t, when, of course, it’s not obvious which is which.
- Published on October 23, 2011AUDIO
Updates this week focus on Walmart's elimination and cut-backs of health insurance for its employees, on the failed inspections that recently allowed unclean melon production to kill 25 Americans and sicken many more, on the rising scandal of college students' debt burdens, and on the grotesque Herman Cain plan that would sharply lower taxes on the richest Americans. The major focus was a comparison of the 1930s with the current crisis in capitalism to draw lessons for the kind of economic policy now that the Occupy Wall Street movement might consider.
- Published on October 23, 2011AUDIO
Richard Wolff discusses the crisis of capitalism, how the US became so unequal--and why he believes revolution, not reform, is in order.