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Richard Wolff: Capitalism Hits the Fan

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The New School

and Dr. Richard D. Wolff

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Average Debt for a British Family? 170% of Annual Income

03 min 03 sec

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Think Americans are in debt? Take a look at Great Britain.

Economist Richard Wolff predicts that Britain will be the next victim of the recession, citing that the average British family currently faces a debt amounting to 170% of its annual income.
Marshall Plan Redux: The Economic Prowess of China

06 min 54 sec

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Economist Richard Wolff explores the complex, worrisome economic relationship between China and the U.S.

American consumerism, he says, funds China's ability to lend to the U.S. in what he calls a "replay in reverse" of the Marshall Plan.
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01 hr 44 min 17 sec

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There are 17 comments on this program

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Previous FORAtv comments:

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xip

Posted: 05.01.10, 08:37 AM

regionswork, you right that it is not entirely true. That is a fact since Wolff makes misinterpretations or forgets some thing and the most important point it is not the complete story. It is simply impossible to talk about everything in such clear understanding way. In my opinion, however, it is false to describe the lecture as "not entirely false, not entirely true" since that would conclude his explanation is just somewhere in between. For me all interconnected points are made correctly but due to missing information the stated arguments are rated as more important as they actually were or are, respectively. In case of your mentioned examples he even explicitly portended that there are much more causes many times during his speech especially at the end. I would say if someone does begin to study any kind of business studies this video is a very good start and motivation in particular because of him indicating there is already some much ( partly old) knowledge that describes the reasons of the situation we are in and even predicts parts of it - but we all just heard about the essence of predictions.

regionswork

Posted: 04.19.10, 08:26 PM

Not entirely false, not entirely true.

Interesting - the banks get a pass; 401(k) gave nearly everyone a stake in the market. so companies were applauded for forcing down costs to increase profits and value - middle class had a stake in the management, even if some were among those downsized - their portfolio management mind knew it was necessary, no mention of the impact of Nixon taking the U.S. off the gold standard to fund the Viet Nam war and the knock on of fiat currencies in the world; labor - keeping the southern border open to create competition at the bottom and, post Soviet collapse, the flooding of the market - the global connected market with lots of high skill labor. Some points give insight, like the Marshall Plan was the vendor financing model for the Chinese. Overall, the story that connects the dots is ... Beckian. Not entirely false, not entirely true.

sashex

Posted: 04.17.10, 05:35 PM

That was brilliant, Richard Wolff has produced something I thought was impossible. He has shown in its entirety the model of today's global economy in a methodical and coherent way. While the facts mentioned are well known the perfect continuity and conclusions are as unbelievable as they are unarguable. Thank you Richard Wolff

mszlazak

Posted: 04.16.10, 08:43 PM

Almost all pure fantasy.

bremont

Posted: 04.16.10, 09:01 AM

new system

the solution is limit. the personal wealth of the very rich. top 50m $. per family. the rest goes to distribution. how by strict control of transactions. limit greed, limit personal income. address the individual, not the system. the solution is on the individuals mind. perception and behaviour. art can be the key to unlock the conundrum. however it looks as a big brother scheme it is but a healthier one..sane, just and appropriate to the current realm..

maddy.aiyer

Posted: 04.16.10, 05:31 AM

Amazing simplicity.

Andrew Crocker

Posted: 04.15.10, 10:34 PM

This is fantastic....such scope....

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