Economist, author, Professor emeritus UMass, Amherst, Richard Wolff, speaks about the current economic crises, its' roots and what we can do about it.
Filmed by Paul Hubbard at Brown University, Providence RI .Capitalism is at it's core a fundamentally selfish system that encourages the exploitation of people and resources for profits. The globalization of the economy and capitalism has spread the disease throughout the world and outsourced our jobs to countries with cheap labor so that profits can raise even higher for the capitalists.
Professor Wolff breaks down the root causes of today's economic crisis and traces its source to the 1970s, when wages began to stagnate and American workers were forced into a spiral of borrowing and debt. By placing the crisis in this framework, Wolff argues that proposals for government "bailouts," offers of stimulus packages, and calls for increased market regulation will not address the real causes of the crisis. He suggests that far more fundamental change is necessary to avoid future catastrophes. Richly illustrated with motion graphics, Capitalism Hits the Fan is a superb introduction to the unraveling economic crisis for ordinary citizens.
5 years ago