After 300 Years, It’s Time To End Capitalism, Not Reform It
The United States is facing multiple crises with no signs of improvement on the horizon – a deep recession, high unemployment, millions of people soon to be displaced from their homes, a failed healthcare system in the midst of a pandemic, the climate crisis and more. We speak with Professor Richard Wolff, an economist and the author of “Democracy at Work”, about the history of capitalism and how it is inherently unstable. Prof. Wolff posits that the United States is now in a situation where capitalism is unlikely to survive. He describes why that is and the lessons we must learn from the fatal mistakes made when the US was in a similar situation one hundred years ago.
Professor Richard Wolff is Professor of Economics Emeritus, 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. Earlier he taught economics at Yale University (1967-1969) and at the City College of the City University of New York (1969-1973). In 1994, he was a Visiting Professor of Economics at the University of Paris (France), I (Sorbonne). Wolff was also regular lecturer at the Brecht Forum in New York City. Read more here. Follow his work at Democracyatwork.info and on Twitter at @profwolff.