The news isn’t good. The Euro is losing value daily. Countries are slipping into “sovereign debt crises” – meaning they’re going broke. And the markets are swooning once again. We’re watching the proverbial other shoe drop.
Throughout this crisis, many Americans have directed their anger at Wall Street (and deservedly so). But few have wondered whether there’s anything basically wrong with American-style capitalism. And, if anything, the only organized protest movement (The Tea Party) has asserted that we need more capitalism in our lives, not less.
In some rare quarters of academe, capitalism still doesn’t get off so easy. And that brings us to three new online courses taught by the economist Richard D. Wolff at The New School in NYC. Above, we feature the first lecture from Economic Crisis and Globalization, a course that takes a less orthodox view of how we’re managing the Great Recession. (Find the other seven lectures here.) His other courses, both on Marxian economics, appear in our collection of Free Online Courses under Economics.