Professor Richard Wolff: Opposition to Paying for Capitalism's Crisis | The New School

Objective economic analysis is difficult to come by in this heated political moment, with deep budget cuts that disproportionately affect the poor and working class while the top one percent of Americans continues to amass wealth at a record pace.

Professor Richard D. Wolff's academic work and public lectures warning of a crisis of capitalism preceded the current disaster. Wolff will discuss the fallout of the economic collapse and the ongoing struggle over who will bear the massive costs.

Wolff is professor emeritus of economics at the University of Massachusetts Amherst and is currently visiting professor in the graduate program in international affairs at The New School in New York City. Having accurately predicted the economic collapse of 2008, he is widely sought after as a commentator on the current financial crisis. Wolff is also noted for his ability to distill complex economic concepts and data into palatable, accessible language.

Location: Theresa Lang Community and Student Center, Arnhold Hall.
03/30/2011 7:30 p.m.

[surenopr]

History wise he is right on point.. we May don’t like it… but still holds true… most people will never see it that way

[empirestrikesback]

Absolutely another Masterpiece speech by Dr. Wolff. As a PHD student I am getting ready to join Dr. Wolff movement to build a better America for all and not the selfish evil 1% rulling class.

[thegreatmonster]

Although I think prof. Wolff is presenting a fair picture of what has happened in USA, not all of it, but some of the key issues, I would like to warn about is the fact that not everything in the EU countries like France or Germany is all that good. There is a lot of hierarchy here, and a lot of the say is in the hands of few big and powerful families. When you are at the end of a ladder, you end up staying there for the rest of your life. They don't like it when you move up.

[marutanray]

there are marxists in a capitalist countries. but there are no capitalists in a marxist / socialist / communist countries! wonder why?

[gbantock]

I find it exciting to know that someone like Richard Wolff teaches at one of my two Alma Maters, the Univ. of Massachusetts! I am one of the few alumni of U. of M. (B.A.) and Kent State University living up here in Québec. Rock on, Richard!!

[AnarchoHumanist]

@thegreatmonster I agree, but the US is also quite rigid in its hierarchy. We speak of a mythical social mobility, but study after study shows we have comparable mobility to that of Western European countries. The thing is, in Europe it is recognized, so help should be given to people stuck on the lower rungs. In the US, we pretend to be upwardly mobile, so no help should be given (i.e., if you don't rise, it's your fault because we are mobile).

[travisbrewer]

The primary reason the unions are in decline is that they have been shooting themselves in the foot by alienating would be members supporting initiatives unrelated to labor rights. For example, I have refused to join the NEA because they support LGBT dominance and Planned Parenthood, culture war agendas that have nothing to do with the right of teachers to be paid on par with other professionals. If the unions would stay out of the culture wars and stick to worker rights, which would cover LGBT and abortion workers under the umbrella of all workers, they could easily double or triple their membership and clout.

[MidnightRambler]

USSR china cuba cambodia venezuela..the joys of Marxism...

[minombre]

So like every great Empire, they progress until they can't progress anymore and then collapse. Is that what he's saying?

[TheTribster]

It would be nice to see more people watching these type of videos instead of kittens! The views should be in the 10s of millions!

[janicefredericks]

Can something be reported about how stray cats are breeding and our local government doesn’t help citizens who trap, neuter and get them rabies shots, cares for them, etc? It takes a village. Letting them suffer, going into garbages, or killing them isn’t the answer. Passing a TNR amendment doesn’t help. Real, practical help of hiring people, and paying rescuers/trappers will help. It is a community issue!

[eddasturrup]

SAD 😭🥺 ABOUT this situation for you he AMERICAN PEOPLE....

[nikoskoutsopoulos]

Mr. Wolff is a very persuasive fellow... He might have a point that the brand of capitalism that we have had in the past twenty five years with the advent of the "Fantastic Four": Greenspan, Summers, Rubin and Levitt in the Clinton years, has created an abysmal mess with the sovereign debts around the world, but I I would like to call on him an oxymoron he used in the very beginning of his speech... Apparently, the University professors he spoke with in Athens were complaining that they were getting 20% less salary being part of a Public Education system (read: totally free to all, including in most cases free room and board!) and at the same time they were wondering how they would be able to pay(?) for their children's (FREE!) education!..

[billlets]

Yes, it's true what is said of Germany. They are true communities.

[Buddhabebop]

funny how the elitists never openly address the exploitation necessary to capitalism. also funny how they say socialism requires external force, as if the implementation and perpetuation of capitalism did not require external force as well.

[MusicalDudeMayhem]

I'm decreasing the labour supply to help push wages up :D cheers!

[johncarter]

TAXATION without REPRESENTATION is not allowed any more!

[q]

You know what the biggest problem in the work force is? It's the ability to borrow money. Just think, What professor Wolf said is basically true, except for one thing. If there were no lenders, where would these corporations gain their wealth? If the people have no money to buy goods, than what ever little money they have will go to essentials. That means you won't be able to buy a car, pay a mortgage, go to school, or most other things people do. The US has the third highest population in the world, so without banking you wouldn't be able to save money for future endeavors.Think on how much money the US spends on military, where would they get their money if not from the bank?
No, corporations and governments not only allow those that are debters to go more into more debt, they push it like a pusher pushes drugs. In the end, it won't be the rich nor the government that will have to pay the bill when it comes due, it will be whomever left over in the country because all the others that have means have moved out.

[rusedorange]

@kearyda You need to watch again, you didn't get it...

[jamesejudy]

It's clear by the comments that the fans of capitalism simply aren't playing attention.