Capitalism is spinning out of control. Inequality hit the historical levels, together with the public and private debt in the United States. Those are clear signals of a meltdown. Can we avoid the greatest crisis in history through education on its causes and possible consequences?
Chris Hedges and professor Richard Wolff discuss what happens when you give a free pass to capitalism. Like any other system, it starts to rot. The rising inequality is the most reliable symptom of deterioration. Furthermore, destruction of the middle class creates potential for a revolutionary unrest.
Professor Wolff explains how capitalists in current situation are not able to see the real picture, because they are making profits on the crisis, making the gap even deeper.
Why Trump “tariff political theater” cannot solve the problems? And what will happen if this trajectory continues?
Duration: 28:27
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.
More on him you can find at his Internet site:
Prof. Richard D. Wolff presentation
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