capitalism s crisis deepens essays on the global economic meltdown

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Capitalism S Crisis Deepens

Author : Richard D. Wolff
ISBN : 9781608466559
Genre : Social Science
File Size : 44. 98 MB
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Praise for Richard Wolff and Democracy at Work: "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 "Richard Wolff is the leading socialist economist in the country. This book is required reading for anyone concerned about a fundamental transformation of the ailing capitalist economy!"—Cornel West "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 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. Richard Wolff is Professor of Economics Emeritus, University of Massachusetts, Amherst, and a Visiting Professor at the New School in New York. Wolff's recent work has concentrated on analyzing the causes and alternative solutions to the global economic crisis. His groundbreaking book Democracy at Work: A Cure for Capitalism inspired the creation of Democracy at Work, a nonprofit organization dedicated to showing how and why to make democratic workplaces real.

Capitalism S Crisis Deepens

Author : Richard D. Wolff
ISBN : 1608465950
Genre : Business & Economics
File Size : 65. 31 MB
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World-renowned economist, Richard Wolf, explores the roots of the Great Recession and its immense impact on working people.

Capitalism Hits The Fan

Author : Richard D. Wolff
ISBN : 9781623710019
Genre : Business & Economics
File Size : 80. 8 MB
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A breathtakingly clear analysis that breaks down the root causes of today’s economic crisis “With unerring coherence and unequaled breadth of knowledge, Rick 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, Distinguished Professor of Sociology and Urban Education, City University of New York Capitalism Hits the Fan chronicles one economist’s growing alarm and insights as he watched, from 2005 onwards, the economic crisis build, burst, and then change the world. The argument here differs sharply from most other explanations offered by politicians, media commentators, and other academics. Step by step, Professor Wolff shows that deep economic structures—the relationship of wages to profits, of workers to boards of directors, and of debts to income—account for the crisis. The great change in the US economy since the 1970s, as employers stopped the historic rise in US workers’ real wages, set in motion the events that eventually broke the world economy. The crisis resulted from the post-1970s profit explosion, the debt-driven finance-industry expansion, and the sequential stock market and real estate booms and busts. Bailout interventions by the Federal Reserve and the US Treasury have thrown too little money too late at a problem that requires more than money to solve. As this book shows, we must now ask basic questions about capitalism as a system that has now convulsed the world economy into two great depressions in 75 years (and countless lesser crises, recession, and cycles in between). The book’s essays engage the long-overdue public discussion about capitalism as a system and about the basic structural changes needed not only to fix today’s broken economy but to prevent future crises. Richard Wolff has been a professor of economics at the University of Massachusetts, Amherst since 1981. He has been a visiting professor in the Graduate Program in International Affairs, at the New School in New York since 2007. Wolff’s major recent interests and publications include studies of US economic history to ascertain the basic structural causes of the current economic crisis and the examination of how alternative economic theories (neoclassical, Keynesian, and Marxian) understand and respond to the crisis in very different ways. His past work involves application of advanced class analysis to contemporary global capitalism. He has written, co-authored, and co-edited many books and dozens of scholarly and popular journal articles. His recent analyses of current economic events appear regularly in the webzine of the Monthly Review. In 2009, Capitalism Hits the Fan, the documentary on the current economic crisis, was released by Media Education Foundation (www.mediaed.org). Visit http://www.rdwolff.com for more information. Abridged Table of Contents: Introduction Part I: Roots of a System’s Crisis Part II: The Economics of Crisis 1 Capitalism as a Crisis-Prone System 2 The Role of Economic Theory 3 Markets and Efficiency 4 Wages, Productivity, and Exploitation 5 Housing and Debt 6 Government Intervention in the Economy 7 International Dimensions of the Crisis Part III: Politics of the Crisis 1 Reforms and Regulations as Crisis Solutions 2 Debates over “Socialist” Solutions 3 Anti-Capitalist Politics Index

Democracy At Work

Author : Richard D. Wolff
ISBN : 9781608462575
Genre : Social Science
File Size : 48. 98 MB
Format : PDF
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“Ideas of economic democracy are very much in the air, as they should be, with increasing urgency in the midst of today’s serious crises. 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 "Probably America's most prominent Marxist economist."—The New York Times Capitalism as a system has spawned deepening economic crisis alongside its bought-and-paid-for political establishment. Neither serves the needs of our society. Whether it is secure, well-paid, and meaningful jobs or a sustainable relationship with the natural environment that we depend on, our society is not delivering the results people need and deserve. One key cause for this intolerable state of affairs is the lack of genuine democracy in our economy as well as in our politics. The solution requires the institution of genuine economic democracy, starting with workers managing their own workplaces, as the basis for a genuine political democracy. Here Richard D. Wolff lays out a hopeful and concrete vision of how to make that possible, addressing the many people who have concluded economic inequality and politics as usual can no longer be tolerated and are looking for a concrete program of action. Richard D. Wolff is professor of Economics emeritus at the University of Massachusetts, Amherst. He is currently a visiting professor at the New School University in New York. Wolff is the author of many books, including Capitalism Hits the Fan: The Global Economic Meltdown and What to Do About It. He hosts the weekly hour-long radio program Economic Update on WBAI (Pacifica Radio) and writes regularly for The Guardian, Truthout.org, and the MRZine.

Contending Economic Theories

Author : Richard D. Wolff
ISBN : 9780262304443
Genre : Business & Economics
File Size : 38. 40 MB
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Contending Economic Theories offers a unique comparative treatment of the three main theories in economics as it is taught today: neoclassical, Keynesian, and Marxian. Each is developed and discussed in its own chapter, yet also differentiated from and compared to the other two theories. The authors identify each theory's starting point, its goals and foci, and its internal logic. They connect their comparative theory analysis to the larger policy issues that divide the rival camps of theorists around such central issues as the role government should play in the economy and the class structure of production, stressing the different analytical, policy, and social decisions that flow from each theory's conceptualization of economics. The authors, building on their earlier book Economics: Marxian versus Neoclassical, offer an expanded treatment of Keynesian economics and a comprehensive introduction to Marxian economics, including its class analysis of society. Beyond providing a systematic explanation of the logic and structure of standard neoclassical theory, they analyze recent extensions and developments of that theory around such topics as market imperfections, information economics, new theories of equilibrium, and behavioral economics, considering whether these advances represent new paradigms or merely adjustments to the standard theory. They also explain why economic reasoning has varied among these three approaches throughout the twentieth century, and why this variation continues today--as neoclassical views give way to new Keynesian approaches in the wake of the economic collapse of 2008.

The Long Depression

Author : Michael Roberts
ISBN : 9781608465071
Genre : Business & Economics
File Size : 67. 87 MB
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Setting out from an unapologetic Marxist perspective, The Long Depression argues that the global economy remains in the throes of a depression. Making the case that the profitability of capital is too low, and the debt built up before the Great Recession too high, leading radical economist Michael Roberts persuasively presents his case that this depression will persist until the profitability of capital is restored through yet another slump.

Capitalism

Author : Geoffrey Ingham
ISBN : 9780745636481
Genre : Social Science
File Size : 79. 57 MB
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Now with a substantial new postscript on the financial crisis This book provides a basic introduction to the ′nuts and bolts′ of capitalism. It starts by examining the classic accounts of capitalism found in the works of Adam Smith, Karl Marx, Max Weber, Joseph Schumpeter, and John Maynard Keynes. Each placed emphasis on different institutional elements of capitalism – Smith on the market′s ′invisible hand′; Marx on capital′s exploitation of labour; Weber on the foundations of economic rationality; and Schumpeter and Keynes on the instability that results from capitalism′s essentially monetary and financial character. Drawing on these classic accounts, Ingham then offers a succinct analysis of capitalism′s basic institutions and their interconnections. Market exchange, the monetary system, the enterprise, capital and financial markets, and the role of the state are dealt with in separate chapters which make use of contemporary material on the recent history of the capitalist system – including the great inflation of the 1970s and the neo–liberal backlash; the ′dot.com′ bubble of the late 1990s; and the collapse of Enron and other US corporations. This revised version includes a substantial new postscript on the financial crisis of 2007–8 and its aftermath. The result is a concise, masterly and up–to–date account of the world′s most powerful economic system, written in a way that is accessible to students and general readers alike.

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