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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Wednesday, July 16, 2014
Capitalism's Deeper Problem
Recent press reports refer to troubling price increases for such assets as real estate, government bonds, companies targeted for acquisition and artwork. A New York Times front-page headline read “ The Everything Boom, or Maybe the Everything Bubble .” Western Europe, North America and Japan are...
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Monday, November 04, 2013
The Great Austerity Shell Game: Here's How the Capitalist Scam Works
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Friday, September 27, 2013
Recovery Hype: American Capitalism's Weapon of Mass Distraction
From President Obama on down, defenders of the status quo insist that the US economy has "recovered" or " is recovering ". Some actually see the world that way. They inhabit, imagine they inhabit, or plan to soon inhabit the world of the infamous top 1%. Others simply seek security in life by...
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Monday, September 02, 2013
Organized Labor's Decline in the US is Well-Known. But What Drove it?
Organized labor's decline in the US over the past half century is well-known; what drove that decline, less so. The New Deal 's enemies – big business, Republicans, conservatives – had developed a coordinated strategy by the late 1940s. They would break up the coalition of organized labor, socialist and communist parties: the mass base that had forced through the 1930s New Deal.
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Tuesday, July 23, 2013
Detroit's Decline Is a Distinctively Capitalist Failure
Capitalism as a system ought to be judged by its failures as well as its successes.
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Tuesday, July 09, 2013
How Capitalism's Great Relocation Pauperized America's 'Middle Class'
Detroit's struggle with bankruptcy might find some relief, or at least distraction, by presenting its desperate economic and social conditions as a tourist attraction. "Visit Detroit," today's advertisement might begin, "see your region's future here and now: the streets, neighborhoods, abandoned buildings, and the desolation. Scary, yes, but more gripping than any imaginary ghost story."
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Tuesday, October 02, 2012
Big Finance's Pathology Compels the Logic of Socialized Banking
A long string of socially costly misdeeds by major private US banks have been exposed since the current crisis hit in 2007.
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Monday, June 25, 2012
Yes, There Is an Alternative to Capitalism: Mondragon Shows the Way
There is no alternative ("Tina") to capitalism?
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Friday, February 10, 2012
This is No Bailout for Main Street America
Big announcements of breakthrough legislative deals during election campaigns should be taken with huge grains of salt. Generally more rhetoric than reality, they sometimes contain real concessions made by politicians seeking votes. So it is with Thursday's Washington announcement of $25bn to help homeowners .
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Tuesday, October 04, 2011
Occupy Wall Street Ends Capitalism's Alibi
Occupy Wall Street has already weathered the usual early storms. The kept media ignored the protest, but that failed to end it. The partisans of inequality mocked it, but that failed to end it. The police servants of the status quo over-reacted and that failed to end it – indeed, it fueled the fire. And millions looking on said, "Wow!" And now, ever more people are organizing local, parallel demonstrations – from Boston to San Francisco and many places between.
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