The Narrowness of Mainstream Economics Is About to Unravel

This article appeared originally at Truthout.org

Recent extreme volatility and sharp drops in US stock markets underscore the instability of capitalism yet again. As many commentators now note, another economic downturn looms. We know that all the reforms and regulations imposed in the wake of the Great Depression of the 1930s failed to prevent both smaller downturns between 1941 and 2008 and then another big crash in 2008. Capitalism’s instability has, for centuries, resisted all efforts to overcome it with or without government interventions. Yet mainstream economics mostly evades an honest confrontation with the social costs of such economic instability. Worse, it evades a direct debate with the Marxian critique that links those costs to an argument that system change would be the best and most “efficient” solution.

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Economic Update: Follow the Money

This week’s episode of Economic Update features updates from Prof. Wolff on profits-vs-science and weedkiller “roundup,” most Americans not better off than in 2016, WHO reports bans on corporal punishment of...READ MORE


Economic Update: US "Sugar Arrangements” Industry

On this week's show, Prof. Wolff presents updates on latest foreign and US elections, the CEA document against socialism, growing inequality of billionaires’ wealth, army represses report on...READ MORE


How Capitalism Has Screwed Women Over

This article originally appeared at Huffpost.com.

It’s been one year since the explosion of the Me Too movement that followed allegations against Harvey Weinstein. Since then, the #metoo hashtag has been used around 19 million times to expose and discuss workplace sexual harassment.  

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Markets ‘Overdue For Correction’ - RT America

With markets in apparent decline, some analysts are worried that we are nearing market-correction or even full-scale recession. Prof. Wolff joins RT America’s Rick Sanchez to share his insights and expertise, arguing that Trump’s fiscal policies amount to “feathering his own nest” and will ultimately damage the economy.

 

 

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Prof. Wolff on Primo Nutmeg

Prof. Wolff joins Primo Nutmeg to discuss the history of Marxism, political semantics, varieties of socialism, the morality of capitalism, worker co-ops, if a free society would have one economic dogma, and whether or not a coalition between lefitists and libertarians is possible.

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Economic Update: Virginia Elects a Socialist

On this week's show, Prof. Wolff presents updates on political economy of Trump/GOP attacks on China and their long term costs; parallel analysis of attacks on immigrants;  Michelle Alexander on...READ MORE

What’s the lottery really all about?

Prof. Wolff talks with Loud & Clear's Brian and John about lottery fever. The multi-state Mega Millions lottery jackpot stands at more than $1.6 billion. 

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White House Panics Over Socialism’s Popularity

Prof. Wolff joins KPFK's Rising Up with Sonali Kolhatkar to talk about the growing attraction to the ideas of socialism among the American public.

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Economic Update: A Deepening Crisis of Capitalism

This week on Economic Update, Prof. Wolff delivers updates on the IMF’s prediction of slowing global growth, Bank of England warnings on accumulation of sub-prime debt, Nordhaus Nobel prize and...READ MORE



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