With clarity, force, and wit, economist RICHARD WOLFF explains the long process that got the US economy into its present crisis. He shows why there are no quick fixes--while suggesting (in Part 2) some practical actions that will help. More fundamentally, we need to re-think our commitment to corporate capitalism.
Part 1 focuses on the factors most affecting workers: growing workforce, growing productivity, declining available jobs, stagnant pay, and growing consumer debt.
"New World Notes" is produced under the auspices (Latin for "counter") of WWUH-FM, a community service of that beacon of light in darkest Connecticut, the University of Hartford.
Wolff gave this guest-lecture at Brown University on December 2, 2009. I have condensed it for radio broadcast. A video of the entire presentation including introductions (1:45:00) can be found on YouTube.
More on & by Richard Wolff: http://rdwolff.com/
For written commentary, photos & other graphics, videos, great links, and an archive of past installments, please see this show's Web site: http://newworldnotes.blogspot.com. Permanent link to the entry for this installment: http://newworldnotes.blogspot.com/2012/03/capitalism-hits-fan.html .
SERIES OVERVIEW -- Political and social commentary in a variety of genres. Exploring the gap between what we want ... and what they're trying to make us settle for. "Date recorded," below, = date of first scheduled broadcast
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