Richard D. Wolff

Understanding the Basics of 21st-Century Democracy, Autocracy, and Capitalism

Democracy exists if and when a community organizes its self-governance around the full participation, on an equal basis, of all the members of the community. Its other, autocracy, exists when a community organizes (or allows) its governance by an individual…

The United States Underestimates China’s Economic Challenge at Its Own Peril

This is not a moment for rose-tinted glasses. By Richard D. Wolff The economy of the People’s Republic of China has been growing much faster than that of the United States for decades. So too has China’s average real wage.…

Increasing Desperation as the U.S. Capitalist System Declines

Like all previous economic systems in recorded history, capitalism is on track to repeat the same three-step trip: birth, evolution, and death. The timing and other specifics of each system’s trip differ. Births and evolutions are commonly experienced as positive,…

A Minimum Wage? A Fake Debate

By Richard D. Wolff Capitalism’s “conservative” defenders yet again oppose raising the minimum wage. They fought raising it in the past much as they tried to prevent the Fair Labor Standards Act (1938) that first mandated a U.S. minimum wage.…

Video: Richard D. Wolff on Bankruptcy Protection, Debt Jubilee, Students Debt and the Credit System

This video is part 3 of an educational & historical series with Professor of Economics Emeritus (University of Massachusetts), Marxist economist and founder of Democracy at Work, Richard D. Wolff. In this interview we talk to him about bankruptcy protection,…

Video: Richard D. Wolff – What is Money? Why do some have more than others?

This video is part 2 of an educational & historical series with Professor of Economics Emeritus (University of Massachusetts), Marxist economist and founder of Democracy at Work, Richard D. Wolff. In this interview we talk to him about an instrument…

Video: Richard D. Wolff – What is Capitalism & Socialism? What differentiates them from each other?

This video is part of an educational & historical series with Professor of Economics Emeritus (University of Massachusetts), Marxist economist and founder of Democracy at Work, Richard D. Wolff. In this first interview we talk to him about Capitalism and…

Video: Snowden Event in Munich

On January 15th, acTVism Munich organized its largest event yet that took place under the title “Freedom & Democracy – Global Issues in Context” at Muffathalle in Munich. This event featured a live interview with Edward Snowden via video conference…