Average Debt for a British Family? 170% of Annual Income
The New School - Anna–Maria and Stephen Kellen Auditorium
For more online lectures and classes by Prof. Richard Wolff, visit http://www.rdwolff.com/classes/Join
Economics Professor Richard Wolff, University of Massachusetts, for a screening of his film, "Capitalism Hits the Fan," and a Q&A.Professor Wolff breaks down the root causes of today's economic crisis and traces its source to the 1970s, when wages began to stagnate and American workers were forced into a spiral of borrowing and debt. By placing the crisis in this framework, Wolff argues that proposals for government "bailouts," offers of stimulus packages, and calls for increased market regulation will not address the real causes of the crisis. He suggests that far more fundamental change is necessary to avoid future catastrophes. Richly illustrated with motion graphics, "Capitalism Hits the Fan" is a superb introduction to the unraveling economic crisis for ordinary citizens.