Economic Update: The Financialization of US Capitalism

Tuesday, 24 April 2012 11:59 By Richard D Wolff, Economic Update / Truthout | Radio Segment
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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 this week's show, Wolff provides updates on the extreme budget crisis and the cuts being made by state governments, on how the government is raising interest on student loans from 3.4 to 6.8 %, and on Argentina's take-over last week of the private Spanish oil company that dominated its oil and gas industry. In addition, Wolff interviews economics professor William Tabb about the financialization of US capitalism and its economic and social consequences, followed by a discussion of "family values" and economic planning in the US.

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Richard D Wolff

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 and at

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