Today's economic crisis is capitalism's worst since the Great Depression. Millions have lost jobs, homes, and healthcare. Many with jobs watch pensions, benefits, and job security decline. While most live with increasing uncertainty, the system makes the very wealthy even richer. In eye-opening interviews with prominent economist Richard Wolff, David Barsamian probes the root causes of the current crisis, its unjust social costs, and what can and should be done to turn things around. While others blame corrupt bankers and unregulated speculators or the government or even the poor who borrowed, the authors show that the causes of the crisis run much deeper. They reach back to the 1970s when the capitalist system itself shifted, ending the century-old pattern of rising wages for Americans and thereby enabling the top 1% to become ultra-rich at the expense of the 99%. Since then, economic injustice has become chronic and further corrupted politics. Occupy's indignation with the whole system mobilizes a diverse range of Americans who seek basic change. Occupying the Economy not only clarifies and analyzes the crisis in US capitalism today, it also points toward solutions that can shape a far better future for all.
Richard Wolff is professor of economics at U. Mass, and visiting professor at the New School in New York City. He hosts a program on WBAI and is author of the hit book Capitalism Hits the Fan.
David Barsamian is director of Alternative Radio and author of many interview books, including What We Say Goes with Noam Chomsky.