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.
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
CHECK OUT THE OTHER 19 SHORTS: http://www.wetheeconomy.com What do banks do with our deposits? You think that banks are where your cash is stored and safeguard and that a dollar bill is money. Well, you’re wrong. Like, really wrong. GUEST ACTORS: Richard D. Wolff, Anat Admati, Mridu Chandra, Barbara Garson, Suresh Naidu, James Schamus DIRECTOR: James Schamus
What is the real value of a dollar?
You think that a dollar bill is money and that banks are where your cash is stored and safeguarded. Well, you’re wrong. Like, really wrong.
GUEST ACTORS: Richard D. Wolff, Anat Admati, Mridu Chandra, Barbara Garson, Suresh Naidu, James Schamus,
DIRECTOR: James Schamus
Check out the other 19 shorts at: http://www.wetheeconomy.com
Aljazeera America interviews Professor Wolff on Income and Wealth Inequality