Why should we pay attention to the great social critics like Marx? American, especially now, confront serious questions and evidences that our capitalist system is in trouble. It clearly serves the 1% far, far better than what it is doing to the vast mass of the people. Marx was a social critic for whom capitalism was not the end of human history. It was just the latest phase and badly needed the transition to something better. We offer this essay now because of the power and usefulness today of Marx’s criticism of the capitalist economic system.
Capitalism's Crisis Deepens (2016)
The crisis that erupted in 2007 continues to inflict immense and uneven costs on modern society. "Recovery" becomes yet another luxury that bypasses the vast majorities in capitalist nations. The articles and essays gathered in Capitalism’s Crisis Deepens: Essays on the Global Economic Meltdown written between 2010-2014 explore the specifics of the deepening crisis as they became clear, caught the public’s attention, or defined a particular historic moment. As the table of contents below illustrates, the organization of the essays, at once topical but also chronological, seeks to enable readers to grasp the crisis as a moving, evolving stage in capitalism’s history. This book makes a great companion to any introductory or advanced course covering economics or the study of contemporary capitalism.
A new historical vista is opening before us in this time of change, Wolff writes in this compelling new manifesto for a democratic alternative based on workers directing their own workplaces.
Richard Wolff is the leading socialist economist in the country. This book is required reading for anyone concerned about a fundamental transformation of the ailing capitalist economy!" - Cornel West
Ideas of economic democracy are very much in the air, as they should be, with increasing urgency in the midst of today's serious crises. Richard Wolff's constructive and innovative ideas suggest new and promising foundations for much more authentic democracy and sustainable and equitable development, ideas that can be implemented directly and carried forward. A very valuable contribution in troubled times." - Noam Chomsky
Bold, thoughtful, transformative-a powerful and challenging vision of that takes us beyond both corporate capitalism and state socialism. Richard Wolff at his best!" - Gar Alperovitz, author of America Beyond Capitalism
Capitalism Hits the Fan chronicles one economist’s growing alarm and insights as he watched, from 2005 onwards, the economic crisis build, burst, and then dominate world events. The argument here differs sharply from most other explanations offered by politicians, media commentators, and other academics. Step by step, Professor Wolff shows that deep economic structures—the relationship of wages to profits, of workers to boards of directors, and of debts to income—account for the crisis. The great change in the US economy since the 1970s, as employers stopped the historic rise in US workers’ real wages, set in motion the events that eventually broke the world economy.
The crisis resulted from the post-1970s profit explosion, the debt-driven finance-industry expansion, and the sequential stock market and real estate booms and busts. Bailout interventions by the Federal Reserve and the US Treasury have thrown too little money too late at a problem that requires more than money to solve.
We must now ask basic questions about capitalism as a system that has now convulsed the world economy into two great depressions in 75 years (and countless lesser crises, recession, and cycles in between). The book’s essays engage the long-overdue public discussion about basic structural changes and systemic alternatives needed not only to fix today’s broken economy but to prevent future crises.
With unerring coherence and unequaled breadth of knowledge, Rick Wolff offers a rich and much needed corrective to the views of mainstream economists and pundits. It would be difficult to come away from this… with anything but an acute appreciation of what is needed to get us out of this mess.” - Stanley Aronowitz, Distinguished Professor of Sociology and Urban Education, City University of New York
This book brings together key contributions and underscores different interpretations of Marxian theory generally and of Marxian economics in particular. In facing and trying to resolve contradictions and lapses within Marxism, the authors have confronted the basic incompatibilities among the dominant modern versions of Marxian theory, and the fact that Marxism seemed cut off from the criticisms of determinist modes of thought offered by post-structuralism and post-modernism and even by some of Marxism’s greatest theorists.
From the Yale Series in Economic History.
Imagine: Living In a Socialist U.S.A., edited by Francis Goldin, Debby Smith, and Michael Steven Smith, is at once an indictment of American capitalism as the root cause of our spreading dystopia and a cri de coeur for what life could be like in the United States if we had economic as well as a real political democracy. This anthology features essays by revolutionary thinkers, activists, and artists—including Academy Award-winning filmmaker Michael Moore, civil rights activist Angela Davis, incarcerated journalist Mumia Abu Jamal, and economist Rick Wolff— addressing various aspects of a new society and, crucially, how to get from where we are now to where we want to be, living in a society that is truly fair and just.
A Marxian Analysis of the Economic Crisis and Greece (Greek language, 2014)
The collective volume Economic Crisis and Greece (Athens: Gutenberg, 2011) is an initiative of the Greek Scientific Association of Political Economy and has been edited by Andriana Vlachou (Associate Professor at the Athens University of Economics and Business), Nicholas Theocarakis (Assistant Professor at the National and Kapodistriako University) and Dimitris Milonakis (Associate Professor at the Crete University). The contributors challenge the orthodox Economics which is considered responsible for not being able to predict and explain the current financial crisis.
PDF Format (Greek)
Class Struggle on the Homefront (2009)
Home Front examines the gendered exploitation of labor in the household from a postmodern Marxian perspective. The authors of this volume use the anti-foundationalist Marxian economic theories first formulated by Stephen Resnick and Richard Wolff to explore power, domination, and exploitation in the modern household.
State Capitalism, Contentious Politics and Large-Scale Social Change (1998)
State capitalism is back. It never went away. This book looks at the role of state capitalism in major European and Asian societies. It confronts neo-liberal pieties about the role of markets and private property in capitalist development and radical accounts which see the state as the antithesis of capitalism. State capitalism is a normal form of capitalist development. Its extremes may vary but it has been, and remains, central to an understanding of modern capitalism. This is especially the case in the so called Communist and Communist worlds of Russia and China, and for alternative economies like that of India and the Philippines, which are the focus of this timely and challenging book.