Richard D. Wolff

October update was extremely interesting – as well as entertaining. I was particularly interested in the discussion on “money” -where does it come from and where does it go. I trust you will expand this discussion in the future since it is one of the areas I’ve found confounding. For instance, what role does the government take in the distribution of money? You mentioned that the Fed establishes how much money should be printed. Why do they have that authority? How can we be in debt to these institutions if we print the money and all they do is say how much should be created? Further, what establishes the “value” of that money since the gold standard is no longer around? If the economy is so bad, shouldn’t the dollar have hardly any value at all? Finally, your discussion of one of the tax breaks the rich can take -the painting example -I hope is just the beginning of a continuing discussion of this issue. I’ve been following your talks for well over a year now, and I’ve urged others to watch. You have truly clarified a number of issues -I think of my professors and their coagulated presentations – and I look forward to hearing your reaction to Nov. 7.
Thank you again.