Richard Wolff - Capitalism hits the fan! {part 1}

Richard Wolff Ph.D / Economist

Capitalism Hits the Fan:
The Global Economic Meltdown
And What to Do About IT!

Brown University
Providence RI
December 2nd, 2009

www.CindySheehansSoapBOX.com

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[areyoufelson]

@claptonstratgreen1

good shout

:)

[janetlholden007]

One thing which needs to be factored into any calculation is the environmental factor. That is the missing link in all these arguments

[shananagans5]

@abhishekananda You do know this was caused by regulation & gov sticking their nose in to "help the poor get homes" ? The gov forced banks to make bad loans & when they resisted, gov set up a way for them to do it with little risk. When it got totally out of control & blew up they bailed the banks out. None of that would have happened if gov stayed out of the market in the first place.

[DDDDanDDDD]

Please note how Dr. Wolff is not speaking about Economics - supposedly his area of specialization. Instead, he is focusing on the politics of US economic policies. These are very different things.

Capitalism can work and has worked. Socialism has never worked. He should talk more about the economic conflict between a free market economy and China's unfair currency valuation. On that subject, he might be qualified. Chinese Socialism is based on thievery, and Dr. Wolff is a partisan hack.

[abhishekananda]

He is exactly correct. The problem with Capitalism is that it continues to lobby and corrupt until there is deregulation and the inevitable crisis. This cyclical nature ultimately is a downward spiral that depletes the middle class leaving only the desperate and the rich.

[DAngelo136]

@perg84 The financial system IS part of the capitalist system. The Fed was created to prevent bank panics based on speculation after the 1907 bank panic, without fiat money, you couldn't have the expansion of the economy that was possible than with a gold standard. All of these institution were necessary for capitalism to succeed. It was the removal of the reforms from the Depression of the 20's that led to the problems we have now. Capitalism must transform or die, Marx was on target with this.

[claptonstratgreen1]

@areyoufelson down with the NWO

[IlyaKhleboyko]

@perg84 The free market allows the problem to occur. Frankly, we'd be better off socialist.

[areyoufelson]

This Man is telling the truth - Capitalism only works for the the rich and middle

in my opinIon FREEmasons who have lodges allover the world in every state and every borough in the shape of prince hall, lions and the scottish rite of freemasonry are to blame.

Even crime families and sreet gangs have a role in the ILLUMINATI

LOOK AT ALL VIDEO games being released MAFIA WARS, GRAND THEFT AUTO ASSASINS CREED WARCRAFT

NOTHING PURE IN THEM

THE POINT IS TO TAKE YOU OFF TRACK OF THE REAL GAME

[perg84]

What a shame that such an intelligent man blames Capitalism for the downfall of this country.

The blame lies in the financial system, not capitalism. Fiat money and debt, dishonest leaders, Fed Reserve, the banking system are the real culprits.