Economic Theory

  • Deficits, Debts and Deceptions - Brecht Forum (08-23-11)

    In the context of deepening economic decline, Richard Wolff analyzes and attempts to  answer these questions:

    What were the causes and the results of the recent political theater focused on raising the US debt ceiling? What does the "deal" between President Obama and the Republicans mean economically and politically? What are the alternatives that Congress never explored? What can and should now be done, economically and politically?

  • Why capitalism is choosing Plan B

    Appeared originally in The Guardian on August 22nd, 2011

    In the US, as in the UK, public sector unions are facing cuts to their wages, pensions and benefits to pay for budget cuts. Photograph: Sang Tan/AP

    Last week, Democratic governors in New York and Connecticut repeated the austerity politics of Greece's Prime Minister Pappandreou and Portugal's former Prime Minister Socrates. In doing so, they likewise imitated the austerity politics of their Republican and Democratic counterparts across virtually all 50 states.

  • Economic Update on WBAI Aug 20

    This episode focused on the previous weeks' major events, including the S&P downgrade of US debt, extreme stock market gyrations, and major signs of broad economic decline. Visiting guest, Professor Immanuel Ness, touches on the history and current prospects of worker-controlled enterprises as alternatives to capitalist enterprises.
  • Deficits, Debts, and Deepening Crisis

    Standard and Poor’s downgrades US debt, stock markets gyrate around the world, Sarkozy and Merkel perform yet another empty summit, the Chinese and Japanese economies look worrisome. Serious commentators worry about global recession, another global banking collapse, eurozone dissolution, and austerity programs that only make matters worse. Nouriel Roubini, famed Professor at NYU’s Stern School of Business asks this month, “Is Capitalism Doomed?” His answer: maybe.

  • Economic Update on WBAI Aug 13

    On Economic Update with Professor Richard Wolff, Wolff and guests will discuss the current state of the economy, both locally and globally in relation to the economic crisis.We will focus on wages, jobs, taxes, and debts - and on interest rates, prices, and profits. We aim to explain why certain economic changes are happening and other changes get postponed or blocked and we will explore alternative ways to organize enterprises, markets, and government policies.
  • Thom Hartmann Interview - How Bad Will Things Get in AA America?

    Richard Wolff joins Thom Hartmann on The Big Picture to discuss the recent downgrading by Standard and Poor's and the resulting plummet in the stock market (634 points) that occurred soon after - the largest one-day loss since the financial crisis began in 2008.

  • Economic Update on WBAI August 6

    On Economic Update with Professor Richard Wolff, Wolff and guests will discuss the current state of the economy, both locally and globally in relation to the economic crisis.We will focus on wages, jobs, taxes, and debts - and on interest rates, prices, and profits. We aim to explain why certain economic changes are happening and other changes get postponed or blocked and we will explore alternative ways to organize enterprises, markets, and government policies.
  • A Tale of Two Lootings

    Appeared originally on Truthout.org on August 3rd, 2011

    The political posturing around the debt ceiling "crisis" was mostly a distraction from the hard issues. The hardest of those - underlying US economic decline - keeps resurfacing to display costs, pains and injustices that threaten to dissolve society. Its causes - two long-term trends over the last 30 years - help also to explain the political failures that now compound the social costs of economic decline.

  • Recovery, What Recovery?

    Appeared in the Guardian "Comment is Free" on July 28th, 2011

    Corporate profits and stocks have recovered, but for the millions of Americans who live on Main Street, economic conditions remain depressed. Photograph: Mark Lennihan/AP

  • A Cure for Capitalism CA Book Tour

      After five years of deepening crisis, failed "solutions," and aborted "recoveries," millions see our current system no longer serving us. It's time to demand a cure big and bold enough to work. Join Richard Wolff to hear that cure presented, explained, and justified.

    This evening will also launch Wolff's latest book, Democracy at Work: A Cure for Capitalism released September 1st, 2012 by Haymarket Publishers. He will gladly sign purchased copies.

    Tickets will be $15 in advance and $20 at the door. All funds go to Democracyatwork.info.

  • Debt Showdown is "Political Theater" Burdening Society’s Most Vulnerable

    Republicans have agreed to a vote today on a budget plan they say will cut the deficit $917 billion over 10 years. The move sets the stage for showdown against unified Democratic opposition in the Senate and threats of a White House veto. To discuss the debt talks and economic austerity worldwide, we’re joined by Richard Wolff, Emeritus Professor of Economics at University of Massachusetts-Amherst, and author of several books including, "Capitalism Hits the Fan: The Global Economic Meltdown and What to Do About It." "Politics in the U.S.

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