Authors: Richard D. Wolff and Ian J. Seda-Irizarry
Richard D. Wolff (RDW): As a professor of economics, all my adult life I’ve had to struggle with a difficult sad fact about economics education in colleges and universities in the United States for the last half century. Because of the Cold-war, because of the years of struggle between the U.S. and the Soviet Union, the previous way of teaching of economics, which included the presentation of alternative theories, were repressed. Instead economics got narrowed to a very simple orthodoxy that excluded everything basically critical of capitalism. Capitalism, “economics” taught, was the greatest economic system since sliced bread, indeed the “optimum” imaginable. There were no alternatives worth studying from which one could learn. For example, Marxism, as the most developed critique of capitalism in the world, was simply excluded from 99% of all economics curriculum, as it remains today. It is an extraordinarily narrow orthodoxy.Read more
This article originally appeared at Counterpunch.org
Whatever distractions candidates promote to win voters, some underlying issues will wield their influence on 2020 election outcomes in any case. The biggest of these are the historically accumulated anger and betrayal felt by millions of working class Americans. Since the 1970s, their relative position within income and wealth distributions has declined. Real wages stagnated while workers’ rising productivity made ever more profits for employers, widening inequality. That alone depressed the class, but US society is structured to add many political, cultural, and social demotions onto those whose relative economic position declines.Read more
This article originally appeared at Counterpunch.org.
Actually existing socialisms since the 1917 Soviet revolution leave a rich legacy: aspects to build on, aspects to reject. Collective consumption (free education, medical care, subsidized housing, transport, etc.) is among the first and party dictatorship is among the second. Those socialisms’ complex histories also leave a legacy of what went missing from them. Identifying and evaluating missing elements can provide today’s socialist movements with better means to surpass capitalism than earlier socialist movements had.Read more
There is an entire body of political science thinking that has been unavailable in this country for many years because of its association with socialism and the left that have been demonized. Prof. Wolff joins Richard Eskow of The Zero Hour to talk about the insight that literature could offer us.Read more
As Trump ramps up his rhetoric against China, one of the nation's top officials will visit Washington to talk trade. Professor Richard Wolff joins RT's Boom Bust to sift through the shipping stalemate and search for hope on the horizon.Read more
Rise of Socialism in the US Today
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 May 2019, these issues will include...READ MORE
Prof. Wolff joins "By Any Means Necessary" to break down the good, the bad and the ugly of the latest US unemployment numbers, the media and political manipulation of economic numbers, American capitalism's multi-faceted debt crisis, and why it is time to move past capitalism.Read more
What is modern monetary theory? Richard Wolff joined Thom to explain. MMT or Modern Monetary Theory is becoming a point of contention in the Democratic Party,. But what is it and what does it mean? How does a government, or a political candidate use modern monetary theory, Can modern monetary theory help end the debt or the national deficit? What would the effects of modern monetary theory be on the average working person?Read more
This article originally appeared at CommonDreams.org.
As capitalism drives itself into ever-greater inequality, instability and injustice, its critics multiply. Worried defenders react in two ways. Many dismiss the criticisms. After all, capitalism has been around a long time and weathered ups and downs before. They presume or hope that criticism will fade as little really changes despite the critics, and frustrations set in. It’s just losers who complain. The winners will surely carry the system forward. Some defenders insist that there simply is no alternative to capitalism, so criticism becomes pointless.Read more
This article originally appeared at Truthout.org
The crises affecting the political economies of the U.K. and U.S. are strikingly parallel. The 2008 capitalist crash hit and hurt both badly. Each arranged government bailouts of their major banks and many large corporations. After 2008, they both imposed real economic suffering — austerity — on the mass of their people. Finally, in both countries, pre-2008 trends toward greater economic inequality accelerated post-2008. Those trends in turn provoked deepening political and cultural divisions.Read more
Has the FED ever been politicized the way Trump is proposing now and what would be the result of that? Prof. Wolff joins The Thom Hartmann program to answer questions about Donald Trump's attack on the FED and what it means for our country and economy.Read more
Prof. Wolff joins Brian Becker and John Kiriakou on Loud & Clear to discuss Bernie Sanders' Fox News Town Hall meeting in Pennsylvania.
On this week's show, Prof. Wolff presents updates on LA strippers strike, Trump fails to end US trade deficit, UN reports on protests against capitalist inequality and gov't repression of those protests, GM...READ MORE