By Richard D. Wolff, David Barsamian
Today's fiscal situation is capitalism's worst because the nice melancholy. hundreds of thousands have misplaced jobs, houses, and healthcare. Many with jobs watch pensions, merits, and task defense decline. whereas such a lot stay with expanding uncertainty, the process makes the very filthy rich even richer. In eye-opening interviews with well known economist Richard Wolff, David Barsamian probes the foundation motives of the present quandary, its unjust social expenditures, and what can and will be performed to show issues round. whereas others blame corrupt bankers and unregulated speculators or the govt or maybe the bad who borrowed, the authors convey that the reasons of the quandary run a lot deeper. They succeed in again to the Nineteen Seventies whilst the capitalist method itself shifted, finishing the century-old trend of emerging wages for american citizens and thereby allowing the head 1% to develop into ultra-rich on the cost of the 99%. on account that then, fiscal injustice has develop into power and extra corrupted politics. Occupy's indignation with the total process mobilizes a various diversity of usa citizens who search uncomplicated swap. Occupying the financial system not just clarifies and analyzes the quandary in US capitalism at the present time, it additionally issues towards strategies that could form a more robust destiny for all.
Richard Wolff is professor of economics at U. Mass, and traveling professor on the New tuition in big apple urban. He hosts a application on WBAI and is writer of the hit booklet Capitalism Hits the Fan.
David Barsamian is director of different Radio and writer of many interview books, together with What we are saying is going with Noam Chomsky.
"Richard Wolff and David Barsamian really comprehend, on the private degrees, either the necessity for political, social, and financial switch during this country, and the methods such switch can ensue. this is often a necessary learn for everyone considering the way forward for the area, from teachers to involved voters, it's additionally an excellent and considerate guide that each activist needs to own."—Thom Hartmann, across the world syndicated radio/TV host, and writer of The final Hours of historic Sunlight
"Occupy activists in every single place are heatedly debating the query, "What's subsequent for our movement?' In his amassed interviews with David Barsamian, radical economist Richard Wolff lays out a compelling framework for extra anti-corporate organizing that specializes in the basis of the matter: capitalism and its endless attack at the 99%. Occupiers (past, current, and destiny) now have an highbrow consultant to another type of economy--one that's equitable, sustainable, and, let's wish, politically available, instead of later. Wolff's deep yet conversational synthesis of contemporary perform and older conception couldn't be extra well timed, persuasive, and readable. This e-book will be required studying for all hard work and neighborhood organizers newly encouraged by means of Occupy Wall Street!"—Steve Early, hard work activist, journalist, and writer of The Civil Wars in U.S. Labor
"We blame corrupt bankers, their undefined, and the govt who refused to correctly keep an eye on it for the monetary main issue, yet we have to glance additional again, to a time while the capitalist method itself shifted. writer David Barsamian devotes his whole e-book to interviews with well known economist Richard Wolff, in which the 2 search to appreciate the foundation motives of the present fiscal obstacle, and what concerted efforts through members can do to result in significant change."—SF Weekly
""Like the writings of Karl Marx himself, Wolff's Occupy the financial system: hard Capitalism (2012, urban lighting fixtures Books) provides a much more specific research of the present systemic problem than of the way to construct an alternate, democratic economic system. The e-book does finish, in spite of the fact that, with a "Manifesto for monetary Democracy and Ecological Sanity," signed via seven activist intellectuals, which supplies robust acknowledgment to the position of co-ops as education grounds for employee democracy. 'The swap we propose... as a brand new and significant addition to the schedule for social change,' says the Manifesto, '... is to take place inside of production... the employees needs to turn into jointly their very own bosses, their very own board of directors...'"—Jewish Currents
""Wolff, a Marxist economist, offers a deeper research of capitalism, in order that the 'mysteries' of wealth accumulation develop into transparent in all their exploitative nature. through analyzing "Occupy the Economy," the reader will unknowingly obtain an exceptional introductory lesson into Marx's maximum literary success, “Capital.”—Smirking Chimp
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Extra info for Occupy the Economy: Challenging Capitalism
In the 1950s and 1960s the top income tax bracket of an individual was 91 percent. Here’s what that means. For every dollar over the maximum—let’s just say roughly $100,000— for every dollar over $100,000 that a rich man or woman got, they had to give Uncle Sam 91 cents and they got to keep 9 cents. Even in the 1970s it was still 70 percent. So every dollar over $100,000 you got in the 1970s, you had to 42 give Uncle Sam 70 cents, you kept 30. S. taxpayer today? Thirty-five percent. Think of it: a drop in the tax for the richest Americans from 91 percent to 35 percent.
European governments now face the problem of having to pay huge interest payments for all that borrowing 58 they did to bail out their financial and the wider economic damage they caused. They realize that in order to pay that interest, they’re going to have to go to the mass of their people and do one of two things: either raise taxes to get the money to pay the interest charges or else cut social programs, cut public employment to free up money to pay off the banks, insurance companies, large corporations, foreign governments, rich people who are the creditors of modern countries in Europe.
The home, the house, the apartment, the co-op, whatever it is, is the single most important form of wealth that the mass of Americans have. S. over the last four years of this crisis. That has made the inequality of wealth greater. For those who have significant amounts of stocks, the so-called recovery in the stock market from 2009 to 2011 helped recoup some of their losses. But for those whose only wealth is their home, their main investment is now roughly worth 33 percent less than it was before.