Economics Professor Richard D. Wolff and guests discuss the current state of the economy, both locally and globally in relation to the economic crisis. In the latest segment Wolff discusses the huge fines for major pharmaceutical firms, the long-standing and huge wealth redistribution from richer to poorer states by Washington, and the funding crisis in public higher education. The main interview features Dr. Harriet Fraad discussing the profound psychological costs of capitalism's instability. The radio show segment ends with a response to questions on the transition to mass transit from private cars.
Economic Update: How Our Economic System Impacts Our PsychologyMonday, 16 April 2012 13:32 By Richard D Wolff, Economic Update / Truthout | Radio Report
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. He also teaches classes regularly at the Brecht Forum in Manhattan. Earlier he taught economics at Yale University (1967-1969) and at the City College of the City University of New York (1969-1973). In 1994, he was a Visiting Professor of Economics at the University of Paris (France), I (Sorbonne). His work is available at rdwolff.com and at democracyatwork.info.