In capitalist economic systems, politicians borrow excessively. When conditions make repayment impossible, crises erupt as lenders, borrowing governments, and general publics each try to make the others absorb the losses. Whoever wins, the systemic causes of excessive borrowing and eventual crises are left untouched. Greece, Argentina, Detroit, Puerto Rico...crises and their immense human costs increasingly beset modern capitalism. The solution lies with system change.
Richard Wolff is Professor of Economics Emeritus, University of Massachusetts, Amherst and a Visiting Professor at the New School University in New York. Wolff’s recent work has concentrated on analyzing the causes and alternative solutions to the global economic crisis. His groundbreaking book Democracy at Work: A Cure for Capitalism inspired the creation of Democracy at Work, a nonprofit organization dedicated to showing how and why to make democratic workplaces real. Wolff is also the author of Occupy the Economy: Challenging Capitalism and Capitalism Hits the Fan: The Global Economic Meltdown and What to Do About It. He hosts the weekly hour-long radio program "Economic Update," which is syndicated on public radio stations nationwide, and he writes regularly for The Guardian and Truthout.org. Wolff appears frequently on television and radio to discuss his work, with recent guest spots including "Real Time with Bill Maher," "Moyers & Company," "Charlie Rose," "Up with Chris Hayes," and "Democracy Now!." He is also a frequent lecturer at colleges and universities across the country.
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