Professor Richard D. Wolff Answers: Is Obama a Socialist? (VIDEO)

Tuesday, 07 December 2010 08:10 By Richard Wolffe and Richard Wolff, t r u t h o u t | Special Comment | name.

In this special comment, Professor Richard D. Wolff explains exactly why President Obama is not a socialist.

Over the last 25  years, in collaboration with his colleague, Stephen Resnick, Wolff has developed a new approach to political economy. While it retains and systematically elaborates the Marxist notion of class as surplus labor, it rejects the economic determinism typical of most schools of economics, usually associated with Marxism as well. Common to all of Professor Wolff’s work are two central components. The first is the introduction of class, in its elaborate surplus labor definition, as a new "entry point" of social analysis. The second is the concept of overdetermination as the logic of an analytic project that is consistently nondeterminist.

For more from Professor Wolff, read his numerous articles posted on Truthout and visit his web site.



Richard Wolff

Richard Wolff is a Professor Emeritus at the University of Massachusetts in Amherst and also a Visiting Professor at the Graduate Program in International Affairs of the New School University in New York. He is the author of New Departures in Marxian Theory (Routledge, 2006) among many other publications. Check out Richard Wolff’s documentary film on the current economic crisis, Capitalism Hits the Fan, at Visit Wolff's Web site at, and order a copy of his new book Capitalism Hits the Fan: The Global Economic Meltdown and What to Do about It.

Last modified on Tuesday, 07 December 2010 09:52