Richard D. Wolff on US Economy from a Marxist Perspective

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Wolff analyzes the state of the US economy from a Marxist perspective.

Capitalism yields an unequal distribution of wealth, creating unsold products, resultant from production power exceeding the purchasing power of the bulk of society. Credit is then created to fill the gap until the credit cannot be repaid. The system collapses, and the elite cause the victims of the collapse to be taxed en masse, to reset the system for another round…

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