"The leading socialist economist in the country" explores the roots of the Great Recession and its immense impact on working people (Cornel West).
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 its new centers, and the resurgence of a global speculative bubble, Wolff-in his uniquely accessible style-makes the case that the crisis should be grasped not as a passing moment, but as an evolving stage in capitalism's history.
Praise for Richard Wolff and Democracy at Work
"Probably America's most prominent Marxist economist." - The New York Times Magazine
"Richard Wolff's constructive and innovative ideas suggest new and promising foundations for much more authentic democracy and sustainable and equitable development, ideas that can be implemented directly and carried forward. A very valuable contribution in troubled times." -Noam Chomsky
"Wolff offers a rich and much-needed corrective to the views of mainstream economists and pundits. It would be difficult to come away from this with anything but an acute appreciation of what is needed to get us out of this mess." -Stanley Aronowitz
"Bold, thoughtful, transformative-a powerful and challenging vision that takes us beyond both corporate capitalism and state socialism. Richard Wolff at his best!" -Gar Alperovitz
Autorentext
Richard D. Wolff is professor of economics emeritus at the University of Massachusetts, Amherst, and a visiting professor at the New School University in New York. His groudbreaking bookDemocracy at Work: A Cure for Capitalism inspired the creation of the nonprofit organization Democracy at Work (www.democracyatwork.info).
Inhalt
Preface .................................................................................................. i
Part I: Crisis Capitalism ........................................................................ 1
Capitalist Crisis and the Return to Marx ..................................................................... 2
The Myth of ?American Exceptionalism? Implodes ................................................... 13
The Revenge of Trickle-Down Economics .................................................................. 15
The Crisis Enters Year Five ........................................................................................ 17
In Economic Crisis, Capitalism Delivers the Bads .................................................... 20
A Tale of Two Lootings .............................................................................................. 22
Capitalism and Poverty.............................................................................................. 24
Five Reasons Why the Crisis Persists ........................................................................ 26
Capitalism's Ideological Crutches ............................................................................. 28
Online Education: Another Phony ?Revolution? ........................................................ 31
Capitalism Efficient? We can do so Much Better ...................................................... 33
From Detroit to China to Bangladesh: Capitalism's Costs, Capitalists' Freedom ..... 35
Economic Development in Rana Plaza ...................................................................... 37
Capitalism, Democracy, and Elections ...................................................................... 39
Pure? Capitalism is Pure Fantasy .............................................................................. 41
How Capitalism's Great Relocation Pauperized America's Middle Class ................. 43
US Political Dysfunction and Capitalism's Withdrawal ............................................ 46
Capitalism and Unemployment ................................................................................. 48
Capitalism and Democracy: Year-End Lessons ........................................................ 50
Political Corruption and Capitalism .......................................................................... 52
Part II: Crisis Economics ................................................................... 54
Austerity ........................................................................................................................ 55
US Tax Deal Brings Austerity Closer ......................................................................... 56
Main Street Moves against Wall Street ...................................................................... 57
Why Capitalism is Choosing Plan B .......................................................................... 59
Choosing Ryan, Embracing Austerity ........................................................................ 61
The Truth about Profits and Austerity ...................................................................... 63
The Great Austerity Shell Game ................................................................................ 64
Austerity, US Style, Exposed ..................................................................................... 67
Austerity: Another Policy Mistake? .......................................................................... 69 Taxes............................................................................................................................... 71
Corporations to Government: Give Us More, Tax Us Less ....................................... 72
How the Rich Soaked the Rest of Us .......................................................................... 75
Who REALLY Pays Taxes .......................................................................................... 78
Public Sector.................................................................................................................. 80
Attacking Public Employees: Will New York Lead? ................................................... 81
Public Sector Squeeze (Max Fraad Wolff co-authorship) ......................................... 83
The Real Reason for Public Finance Crisis ................................................................ 86
The Hidden Money .................................................................................................... 88
Social Security's Explosive Injustices ........................................................................ 90
Banking ......................................................................................................................... 92
Bonuses for Bankers, Bankruptcy for Public Services .............................................. 93
Lehman Brothers: Financially and Morally Bankrupt .............................................. 95
Big Finance's Pathology Compels the Logic of Socialised Banking .......................... 97
Debt ............................................................................................................................... 99
S&P's Judgment on US Debt is Substandard and Poor .......................................... 100
Living within Our Means? and Standard and Poor's Downgrade ......................... 102
Deficits, Debts and Deepening Crisis ...................................................................... 104
Europe's Debt Crisis Deepens .................................................................................. 107
Deficits, Debts and Demagogues .............................................................................. 110
The So Called Recovery ............................…