Watch as Professor Richard Wolff breaks down the root causes of today's economic crisis, showing how it was decades in the making and in fact reflects seismic failures within the structures of American-style capitalism itself. Wolff traces the source of the economic crisis to the 1970s, when wages began to stagnate and American workers were forced into a dysfunctional spiral of borrowing and debt that ultimately exploded in the mortgage meltdown.
The wealthy elite are getting even richer, and a new report says that by 2016, the top 1% will control more than half of the world's wealth. What explains this staggering level of inequality, and is there any way to buck this trend? Prof. Wolff explains.
On this episode of Breaking the Set, Abby Martin interviews economist and Professor Emeritus at the University of Massachusetts, Richard Wolff, about the reasons for the dramatic decline in oil prices and the impact it will have on the global economy. (minute 19:40)
Monthly Economic Update: Co-sponsored by Democracy at Work, Left Forum, and Judson Memorial Church “The Economics of a New Year” Judson Memorial Church Assembly Hall 239 Thompson Street at Washington Square, Manhattan 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 this January 14, these will include: 1. Causes and consequences of the oil price collapse: can it produce another crash? 2. Greece: if Jan.
Professor Wolff says every capitalist tries to systematically reduce wages, then can't sell what those wage workers have produced.
Economist Richard Wolff compares the stagnation of wages in the U.S. for the past 30 years to the increase in wages in emerging markets and explains why capital left America.
Professor Wolff on The Real News Network explains how the holiday season places folks in temporary, low-paid jobs that keep the economy in a fragile state.
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 November 12th, these will include:
1. How the Absence of Economic Democracy Undermines Political Democracy
2. Economic Democracy and Revolution Inside Enterprises (Factories, Offices, Stores)
3. The Real Economics of Wages, Prices, and Profits