Today’s economic crisis is capitalism’s worst since the Great Depression. Millions have lost their jobs, homes and healthcare while those who work watch their pensions, benefits, and job security decline. As more and more are impacted by the crisis, the system continues to make the very wealthy even richer. In eye-opening interviews with prominent economist Richard Wolff, David Barsamian probes the root causes of the current economic crisis, its unjust social consequences, and what can and should be done to turn things around. While others blame corrupt bankers and unregulated speculators, the government, or even the poor who borrowed, the authors show that the causes of the crisis run much deeper. They reach back to the 1970s when the capitalist system itself shifted, ending the century-old pattern of rising wages for U.S. workers and thereby enabling the top 1% to become ultra-rich at the expense of the 99%. Since then, economic injustice has become chronic and further corrupted politics. The Occupy movement, by articulating deep indignation with the whole system, mobilizes huge numbers who seek basic change. Occupying the Economy not only clarifies and analyzes the crisis in U.S. capitalism today, it also points toward solutions that can shape a far better future for all.
Richard D. Wolff is professor emeritus of Economics at the University of Massachusetts, Amherst, and visiting professor at the New School University. Author of Capitalism Hits the Fan, he’s been a guest on NPR, Glenn Beck Show, and Democracy Now!
David Barsamian is founder and director of Alternative Radio and author of Targeting Iran. He is best known for his interview books with Noam Chomsky, including Targeting Iran.
“With unerring coherence and unequaled breadth of knowledge, Rick Wolff offers a rich and much needed corrective to the views of mainstream economists and pundits.”
About the Author
Richard D. Wolff is Professor of Economics at U. Mass, and Visiting Professor at the New School University. Author of Capitalism Hits the Fan, he’s been a guest on NPR, Glenn Beck Show, and Democracy Now!
Table of Contents
The Systemic Crisis of Capitalism
Occupying the Economy
About the Authors
Most Helpful Customer Reviews
Professor Wolff is a Professor of economics for 40 years. He cuts through all the fancy economic terminology to explain in extraordinarily readable language what happened with the Wall St. crash in 2008. The fact that these are 3 recorded conversations makes it a very easy read. He offers an insight that you about why it happened that will educate and amaze you. His clear explanation of how the US Tax Code works pp.98 - 109 is most revealing.
Occupy the Economy by Richard Wolff gives a rundown on historical events that have created the wealth inequality we see now, and suggests solutions to how the problem can be fixed. Beginning with a few social shifts in the 1970’s, such as increased workforce but also increased automation, Wolff guides us through how the wealth gap has drastically increased, and how the Occupy movement is bringing this to light. The author does a great job of introducing the reader to the subject of economic inequalities, providing just enough quantitative evidence to support his argument, but not too much to where the book is hard to read. For someone who was pretty new to the subject before reading this book, I now have a very basic, but good understanding of our current situation. Richard Wolff explains the capitalism criticism taboo, and how questioning our economic system does not have to be a radical ideal. I particularly liked how Wolff interviewed a highly regarded economist, David Barsamian, to expand on the ideas he created in the beginning of the book. If you are also someone who would like to have more knowledge on the topic of economic democracy, then this is the perfect introduction book.
You must read this book! If you read Krugman or Stiglitz, read this too!