Richard D. Wolff on Economic Theorists: The High Priests of Capitalism

By Richard D. Wolff People have always chosen among different co-existing economic theories to understand the world and to act within it. Who chooses which theory, consciously or not, shapes world history. Disagreements over Brexit emerged partly from different ways of understanding the British economy and its relation to Europe. Donald Trump’s support grows partly … More Richard D. Wolff on Economic Theorists: The High Priests of Capitalism

New Book by Richard D. Wolff: Capitalism’s Crisis Deepens – Essays on the Global Economic Meltdown

From Haymarket Books: While most mainstream commentators view the crisis that provoked the Great Recession as having passed, these essays from Richard Wolff paint a far less rosy picture. Drawing attention to the extreme downturn in most of capitalism’s old centers, the unequal growth in the its new centers, and the resurgence of a global … More New Book by Richard D. Wolff: Capitalism’s Crisis Deepens – Essays on the Global Economic Meltdown

Richard D. Wolff on US Economy from a Marxist Perspective

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 … More Richard D. Wolff on US Economy from a Marxist Perspective