Capitalism Hits the Fan

Synopsis: University of Massachusetts Economics Professor Richard Wolff breaks down the root causes of the current economic crisis, showing how it was decades in the making and in fact reflects seismic failures within the structures of American-style capitalism itself. Wolff traces the source of the economic crisis to the 1970s, when wages began to stagnate and American workers were forced into a dysfunctional spiral of borrowing and debt that ultimately exploded in the mortgage meltdown. By placing the crisis within this larger historical and systemic frame, Wolff argues that the proposed government "bailouts," stimulus packages, and calls for increased market regulation will not be enough to address the real causes of the crisis, in the end suggesting that far more fundamental change will be necessary to avoid future catastrophes.

Available in two different versions (57 mins and 34 mins) on the same DVD.
Language: English
Country: United States
Year of release: 2009
Year of production: 2008
Subjects: Economics
Keywords: capitalism; United States of America; economic history; economic crisis

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