Saturday, October 11, 2008

Video: A socialist look at the current crisis

Video: UMass economist Rick Wolff (also an editor of the journal Rethinking Marxism) on the crisis.

Some excerpts from his intro:

what I’m going to do, is going to explain how I see this crisis… and then to offer a socialist response to it… this is not because of my abstract interest, its because I am one”


"this isn't a financial crisis... this doesn't have to do with executive pay (which has been outrageous for years)... this doesn't have to do with greed... we need to consider this in terms of the system as a whole... this crisis didn't begin with only the financial industry and it wont end there"

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