Each month, Richard D. Wolff presents an an analysis of some particular economic topics and then opens the floor to questions, comments and a general discussion. This course takes place at the Brecht Forum in New York. Each month, we aim to develop participants’ understanding of and ability to explain to others the key economic developments of our time. The updates focus on the evolving global capitalist economic crisis and its consequences. Professor Wolff examines topics such as: the social costs effects of the historic long-term US unemployment; national debt crises and “austerity programs” in Greece, Ireland, Spain, and beyond; changes in today’s Chinese economy and their global effects; tax reform and the entire tax issue in the US today; continuing crisis in the US housing and credit markets; the economics of immigration.
After 30 years of greed being good and rising tides lifting all boats, inequality — or “class warfare,” if you prefer — is back on the political agenda.
The Occupiers who camped out in central squares from Melbourne to Oakland, denouncing the “1 percent” for its supposedly ill-gotten gains, have a point: Inequality is out of control. But these mainly middle-class complainers are an incredibly coddled bunch by any international reckoning. This is good news, because we’re going to need to tax them more if we’re ever going to solve the world’s real inequality problem: the estimated 900 million people who live on less than $1.25 a day.