LISTEN!!! Richard Wolff on Capitalism Part 1 of 2

Part 2 of 2 here: http://www.youtube.com/watch?v=cL_S5h5N4bc

"The system we live in is called Capitalism and what I've been describing is what it delivers."

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 University, 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).
Education

BA in History from Harvard College (1963);
MA in Economics from Stanford University (1964);
MA in History from Yale University (1967); and a
PhD in Economics from Yale University (1969)

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[37Dionysos]

THANKS for this program---Wolff should run for office, a magnificent speaker. Corporations pay 25% of what a person pays in taxes. That was Reagan's unseen triumph. When I started work in 1965, you paid no tax till you had $1,050 income. Now, look at IRS tax table---if you make FIVE BUCKS a year, you owe tax on it---That's where people pay for the wealthy's vast tax cuts from corrupted politicians. It's time for nonviolent takeover of Washington DC, my citizen friends. Throw every door open.

[MillyVanillification]

The politicians are not interested in changes. They are the guards of the status quo. Whenever something has been changed in history it has been changed by non-politicians. By individuals who have had enough.

[maloso305]

@DDDDanDDDD Some day people are going to wake up from the stupidity the right have con the people that elected their tools, and is not going to be pretty, liberalism will comeback and fix this mess...

[maloso305]

@DDDDanDDDD And who corrupted government... answer : capitalism.

You are a extremist, you need to be reprogram, You are ignoring the facts and defending a fundamentalist agenda, you belief in capitalism is dogmatic, you are kidding yourself. Stop watching FOX news they neither balance nor fair.

[maloso305]

@DDDDanDDDD And who rated the investment on those mortgages triple A ? This has been a con job from the beginning, In case you have not figured out Government is bought and pay for by the money crated by deregulation and unashamed capitalism.You need to look on your own and turn off fox news....

[maloso305]

@noprofitmaximierung Usually capitals are not produced, they are stolen, cheated out of the masses or inherited.

[probrojeffro]

@DDDDanDDDD What juice are you on. Glad it's Wolff and not you the people are hearing. Block.

[malkooth]

@DDDDanDDDD Why are you a cocksucker?

[noprofitmaximierung]

@e2k42 Correct, the state is an invention of the bour_____, to suppress the class that produces their capital.

[DDDDanDDDD]

@e2k42 "New York Times

September 30, 1999

Fannie Mae Eases Credit to Aid Mortgage Lending

Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain it's phenomenal growth in profits

..but the government-subsidized corporation may run into trouble in an economic downturn"

This from 1999. Government meddling...

[e2k42]

@DDDDanDDDD

Capitalism certainly did produce the mega-banks, and then provided the government corruption that led to the bailouts.

The government didn't push any one to make overly risky loans - AIG and the mortgage banks saw a sweet pyramid scheme opportunity, brought the credit default swap to life, and had enough money to throw at the gov't to get them to not pay attention.

After all, capitalism also produced the government.

[DDDDanDDDD]

Capitalism did not produce the mega-banks and the bailouts - government corruption did, including the government corruption that pushed Fannie Mae to make overly risky loans, which pushed the banking industry to attempt to mitigate the risk with the use of derivatives. Dr. Wolff, while a compelling speaker, is quite simply wrong. Sadly, he's in a position to spew his far-left agenda to the unwitting, fertile young minds of students.

Wolff would increase government into a socialist nightmare.