Richard Wolff

Richard D Wolff is professor of economics emeritus at the University of Massachusetts, Amherst, where he taught economics from 1973 to 2008. He is currently a visiting professor in the graduate program in international affairs of the New School University, New York City. Richard also teaches classes regularly at the Brecht Forum in Manhattan. His most recent book is Capitalism Hits the Fan: The Global Economic Meltdown and What to Do About It (2009). A full archive of Richard's work, including videos and podcasts, can be found on his site

Articles by this author

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Tuesday, September 20, 2011 - 9:43am
The Truth about 'Class War' in America
Republicans and conservatives always fight back against proposals to raise taxes on corporations and rich individuals by making two basic claims. First, such proposals amount to un-American "class warfare" , pitting the working class against corporations and the rich.
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Monday, August 22, 2011 - 12:03pm
Austerity: Why Capitalism Is Choosing Plan B
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.
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Sunday, August 7, 2011 - 3:59pm
The S&P Downgrade of US Debt: What it Means
Much verbiage is piling up on this issue. Yet, it matters little that the two other giant rating agencies did not downgrade US debt as S&P did. It is likewise unimportant that all those agencies deserve the bad reputations won when their over-rating of securities burst in the collapse of 2007 and took an already unbalanced economy into deep recession. Nor does the downgrade impose major cash costs anytime soon.
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Friday, July 29, 2011 - 3:45pm
Recovery for Wall Street and Wealthy, Austerity for Workers and Poor
The so-called economic "recovery" since mid-2009 was chiefly hype, a veneer of good news to disguise and minimise the awful underlying economic realities. The few (large corporations and the rich) who bear much of the responsibility for the crisis made sure that the government they finance used massive amounts of public money to support a recovery for them . The mass of the population was excluded from the government-financed recovery for the few.
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Tuesday, May 10, 2011 - 11:31am
The Great Corporate Tax Swindle
More and more, we hear that nothing can be done to tax major corporations because of the threat of how they would respond. Likewise, we cannot stop their price-gouging or even the government subsidies and tax loopholes they enjoy.
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Monday, March 14, 2011 - 9:37am
What's Left of the American Left?
"In contradiction" best describes the American left today. On the one hand, it is fragmented and dispirited, feeling itself distant from the tumble of daily US politics and acutely disgusted by its many-layered corruptions. It hardly knows itself as a part of society, so deep runs its alienation.
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Wednesday, March 2, 2011 - 8:04am
How the Rich Soaked the Rest of Us
Over the last half century, the richest Americans have shifted the burden of the federal individual income tax off themselves and onto everybody else.
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Sunday, February 20, 2011 - 1:55am
The Real Reason for Public Finance Crisis
Nothing better shows corporate control over the government than Washington's basic response to the current economic crisis. First, we had "the rescue", then "the recovery". Trillions in public money flowed to the biggest US banks, insurance companies, etc. That "bailed" them out (is it just me or is there a suggestion of criminality in that phrase?), while we waited for benefits to "trickle down" to the rest of us.
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Friday, January 28, 2011 - 11:11am
The Consequences of Our Tax Cowardice
A national campaign is now fully launched to make local public-sector employees pick up a major share of the costs of economic crisis. Years of rising spending and falling revenue have carved a path of destruction through federal, state and local budgets. Deficits and debts have mounted eroding taxpayer support for government spending in general, and for public employees particularly.
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Thursday, January 20, 2011 - 10:21am
Bonuses for Bankers, Bankruptcy for Public Services
So, now we know about the $15bn-plus 2010 pay package for Goldman Sachs partners and employees . The top rungs will get their many millions each , with lesser and lesser amounts going down the GS hierarchy. The mass of its more than 35,000 employees will, as usual, get much, much less than the top.
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