The Economic Crisis
Recent decades have seen a massive redistribution of wealth, imposing the cost of successive crises on the poorest. Enough!An employee of the New Fabris factory, in Chatellerault, central France, walks next to a fire in front of the plant, in 2009, after 366 laid-off workers occupied the factory and threatened to blow it up unless they receive a bigger pay-off. 'We want a bonus' is written on the wall in the background. Photograph: Alain Jocard/AFP/Getty Images
- Published on December 27, 2010AUDIO
(Richard Wolff speaks on the radio show "Law and Disorder" on December 27th, 2010. His interview begins approximately eight minutes into the show.)
Economic Recovery? Austerity in the US and Abroad
- Published on December 1, 2010AUDIOProfessor Wolff's repsonse to today's release of the Deficit Commission's report. on the Mitch Jesserich's "Letters to Washington" show, on KPFA. Highlights from the President's Commission Deficit hearing; Report from Leigh Ann Caldwell on the Commission's recommendations; Analysis of the recommendations with Richard Wolff, professor emeritus of economics at University of Massachusetts; and analysis of European economic crisis.
Deficits have now risen, yet again, to headline status. Conservatives inside and to the right of the Republican Party frame the national debates by attacking deficits. They want to reduce them by cutting government spending. Liberals respond, as usual, by insisting that overcoming the crisis requires big government spending (“stimulus”) and hence big deficits. Most Americans watch the politicians' conflicts with mixtures of confusion, disinterest, and disdain.