Jun 01 2012
As Unemployment Ticks Up, Economist Richard Wolff Offers A Clear Solution
National employment statistics released this morning for the month of May, have once more stoked fears that the much-touted economic recovery is slowing down. For the first time in nearly a year, joblessness among Americans has increased, albeit by one tenth of a percentage point. Meanwhile, only 69,000 new jobs were added, compared to the 155,000 predicted by economists. The slowdown comes at the same time that Europe’s economies remain in crisis, and developing nations are seeing slower than expected growth.
One of a handful of economists clearly explaining today’s situation is the acclaimed Marxian economist Richard Wolff who addressed the Brecht Forum in New York in May, analyzing the global financial recession in the context of the US situation as well as recent European election results.
Richard Wolff is a Professor of Economics Emeritus at the 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 has also taught at Yale and the University of Paris, and has recently begun hosting a weekly hour-long radio program Economic Update on WBAI, 99.5 FM.
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One Response to “As Unemployment Ticks Up, Economist Richard Wolff Offers A Clear Solution”
Yes, but more importantly, Richard Wolff’s latest educational and critical review of capitalism, “Can We Afford Capitalism” (on Link TV) is fabulous and incredibly valuable to all Americans who now really need to understand the ‘political economy’ — or as he might say the ‘economic politics’ that is killing us.
However, I would add for those willing to look even a level deeper, that capitalism is merely the latest vehicle, the last technique, the most modern lever through which Empire, and ’empire-thinking’ elites, have always controlled societies, countries, and now in this post-nation-state world, the entire globe.
Empire and ’empire-thinking’ elite need to be properly diagnosed as the hidden cancerous tumor, that is simply using the mechanism and system of ‘capitalism’ to parasitically control the world — whereas in the past Empires, and empire pretentious phonies and “quessers” (as Kurt Vonnegut called them) used earlier techniques like claiming to speak from gods, having the divine right of Kings, understanding nature, predicting the future, controlling bigger armies, and other elitist crap to control their earlier societies — now such dangerous fools have ‘capitalism’, and its money control over politics, to use as their sledge-hammer of Empire control.
Best luck and love to the “Occupy Empire” educational and revolutionary movement.
Liberty, democracy, equality, and justice
Over
Violent/Vichy
Empire,
Alan MacDonald
Sanford, Maine