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Richard Wolff – Capitalism Hits The Fan

July 12, 2012

Richard Wolff – Capitalism Hits The Fan http://bit.ly/PSZy4c Richard Wolff: Capitalism Hits the Fan from The New School and The New School on FORA.tv Richard Wolff’s lecture is absolutely brilliant and elegant – a simple and intuitive narrative of what happened in the past to bring us to the situation we are in today. This needs to be required viewing for all Americans … and particularly anyone involved in the Occupy movement so we do not just look like whiners or clowns. Watch as Professor Richard Wolff breaks down the root causes of today’s economic crisis, showing how it was decades in the making and in fact reflects seismic failures within the structures of American-style capitalism itself. Wolff traces the source of the economic crisis to the 1970s, when wages began to stagnate and American workers were forced into a dysfunctional spiral of borrowing and debt that ultimately exploded in the mortgage meltdown. By placing the crisis within this larger historical and systemic frame, Wolff argues convincingly that the proposed government “bailouts,” stimulus packages, and calls for increased market regulation will not be enough to address the real causes of the crisis, in the end suggesting that far more fundamental change will be necessary to avoid future catastrophes. Richly illustrated with motion graphics, this is a superb introduction designed to help ordinary citizens understand, and react to, the unraveling economic crisis.

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