Economic Theory

  • How Class Works

      In 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...
  • Schonberger Peace and Social Justice Lecture

    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.

  • Capitalism Hits The Fan - A Study Guide

    The Media Education Foundation produced a study guide for Richard Wolff's Capitalism Hits The Fan.

  • How the 1% got richer, while the 99% got poorer

     

    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.

  • Top Economists on How to Fix the Economy

    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.

  • The David Pakman Show - Income Inequality Isn't Good for America

    Richard Wolff, Economics Professor and one of David's former professors, joins in on The David Pakman Show to dispel conservative propaganda about why rising income inequality isn't a bad thing, and explains the nuts and bolts of why significant income inequality negatively affects the economy. After viewing the clips visit our Election Central 2012 page and participate in our 3 part election survey.

  • Economic Update on WBAI Oct 22

    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. 

  • Against the Grain - KPFA Radio Interview (Oct 19, 2011)

    Richard Wolff discusses the crisis of capitalism, how the US became so unequal--and why he believes revolution, not reform, is in order.

  • Special Comments - Short Clips

    In this series of short video clips, Professor Wolff discusses Deficits and Debts, Europe's Crisis and Austerity, Tea Party Politics, Social Security, and What Obama's Economic Policy should be. 

    Deficits and Debts - Causes and Cures

     

    Europe's Crisis and Austerity

     

    Major Corporations and Tea Party Politics

     

    The Real Economics of Social Security

     

    What Obama's Basic Economic Policy Should Be

  • Global Capitalism - A Monthly Update & Discussion Oct 2011

    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

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