Professor Richard Wolff: Why the Economic Crisis Deepens | The New School
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Published 2010-10-20
www.gpia.info/
Graduate Program in International Affairs instructor, Professor Richard Wolff, will speak about recent policies of the government since the economic crisis and why recovery isn't working.
Professor Richard D. 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, New York City. He also teaches classes regularly at the Brecht Forum in Manhattan.
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).
Visit www.newschool.edu/ for more information.
Location: Anna-Maria and Stephen Kellen Auditorium, Sheila C. Johnson Design Center.
09/30/2010 6:30 p.m.
All Comments (21)
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This kind of lecture is supposed to be for what matter the most to a nation.. But from what I noticed, is that out of millions affected, I see no more than 30 people attending this gentleman's lecture. Pity.
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A true genius- He is able to articulate in an undisputable way - Thr Government and big businesses he exposes count on him be drowned out or not seen at all by the current economic climate How ironic 😒
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this should have at least 20 million views... but alas it only has 24 thousand. And that is why we are in the hole we are in: too few people try or even bother to try to understand why and how we all ended up here and what to do?
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the thing that frightens me is that when we wake up as a nation... it will likely not be a peaceful thing.
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This is so relevant today as it was 10yrs ago if not WORST! Too many cover ups within “Our Government” with so many ppl being oblivious to what is actually going on. I just hope we are not attacked and punished by? 😮😢 GREED, POWER-FUL (someppl) , SELFISHNESS, ARROGANT, and STUPIDITY is driving us down this road!!!
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I'll give you another example. Instead of profits drifting upwards, it remains in the lower levels. i.e. Walmart. Instead of profits moving towards the corporate level and Wall Street. All workers have a stake in the company, including cashiers & janitors. As profits rise, instead of a few executives getting wealthy, everyone shares in the wealth. Pay should be based on output at all levels.
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Sad the seats aren't all full. At least he braved the weather & crowd to speak at OWS. Thank you Prof. Wolf.
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You are Marvellous .....Simply the Best! I watch you, listen to you and pray that you stay healthy to wake the masses up and to educate us. THANK YOU dearest Professor Love from Denmark, Scandinavia
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And we might aught to ask why is this system, whereby an enterprise is governed by a small group of shareholders who appoint the board of directors, referred to as "Public Ownership." This obviously isn't Public Ownership, this is Private Ownership. This group of Owners is a very exclusive club. Now you see how language is manipulated by those at the top in order to convince the masses that something else is going on when it actually isn't.
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wow that thing he just said about democracy inside a corporation really appealed to me. When you're part of some sports club, student club or any other non-profit organisation you are asked in meetings what you think about this and that. I'm the president of a student organization, but that doesn't mean i can go and spend money freely like the big bosses do. Every important decision has to go through a meeting and a voting and if not a meeting at least over e-mail. why not with corporations?
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I need every adolescent and teen entering the world to watch this, everyone needs to understand how our economic system IMPORTANT to criticize (and yes, even consider demolishing.) Society has been constructed to improve peoples' lives, if its destroying so many why should we continue to entertain this system? The purpose is to lift everyone up and make sure people have their basic needs fufilled. What good reason do we have to not do that?
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Bravo, an economist that restores my faith in economists. spot on
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I'm afraid of what is going to happen to the future of the US and its citizens. Hearing the good Professor talk only confirms my fears.
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TRUE. I live in Bulgaria, and our government is trying to do most of the right things. We have only 10% FLAT tax. we have very low budget deficit < 3% and debt < 16% of GDP. It is hard but it is for the best. If you some day decide to leave US, Bulgaria is a good place to go to :)
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The thing about the military and its relationship to the wider community... The internet, computers and mobile phones etc... all started as military weapons research. The networks that hold the internet together have redundancy and routing intelligence which is based on a scenario that the US is attacked and to allow communications to still happen. So military research is strongly linked to the US economy. Not saying that it is a good thing... but it just shows how strongly linked they are.
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GREAT speach.....! thanks for this
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There is a difference between the central government borrowing, and an individual borrowing. The Federal government can borrow printed money from the central bank without limit. The end result will be inflation, and a higher cost of living.
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Because he wishes to press the importance of what he tries to explain further so peoples don't misinterpret him. And actually I love how he talks because he really don't give a fuck if the tone he uses is condescending or patronizing to peoples because what he tries to explain is so damn important for our society that emotions are worthless in this current situation.
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I regret to inform that the austerity measures are in place throughout Europe. Obviously this was made with a cristal clear objective, I let you meditate about what that objective might be...
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Talk about prophetic. This was uploaded in October 2010, three months later, a couple of people gathering to protest in the Middle East would, incredibly quickly, get decades-old dictatorships to crumble.
