This article originally appeared at Roarmag.org
Rosa Luxemburg’s great work displays extraordinary merits. First, she explained key dimensions of the capitalism of her time in an exemplary application of Marxian economics. Second, she integrated foreign trade and imperialism into economic theory further and with more insight than most economists including Marx had yet done. Third, she showed the powerful insights available by using Marx’s basic value and price concepts: a remarkable testimony to the usefulness of the labor theory of value. Finally, she linked her theoretical work to the strategic concerns and debates of the workers’ movements of her time. She took sides with an open honesty rarely equaled since among economic theorists who sell themselves instead by pretending to be “scientists above politics.”
On this episode of "Unanimous Dissent," Prof. Wolff joins the show to discuss Hillary Clinton and Donald Trump’s economic solutions--or the woeful lackthereof. “Trickle-up” is needed, he says, not “trickle down.”Read more
“Economics of this Presidential Campaign”
These programs begin with 30 minutes of short updates on important economic events of the last month. Then Wolff analyzes several major economic issues. For August 2016, these will include...READ MORE
This article originally appeared at Truthout.org.
As global capitalism staggers painfully, unevenly and dangerously in the wake of its 2008 collapse, its critics divide into two broad camps. One commits to fixing or reforming a capitalism that has somehow lost its way. The other finds capitalism irreparably inadequate and seeks transition to a new and different system. The two camps see many of the same faults: how capitalism relentlessly deepens inequalities of income, wealth, power and access to culture; capitalism's instability (those socially costly cycles it never managed to prevent); and its consequent injustices. Sometimes the two camps can ally and work together. However, at other times -- such as now -- the camps become more wary of, disaffected from, and competitive with one another. Adding complexity these days, the critics favoring system change are also redefining -- for potential recruits and for themselves -- the new system they seek.Read more