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Understanding the China / US Economic Relationship - Richard Wolff

Complete video at: http://fora.tv/2010/03/03/Richard_Wolff_Capitalism_Hits_the_Fan Economist Richard Wolff explores the complex, worrisome economic relationship between China and the U.S. American consumerism, he says, funds China's ability to lend to the U.S. in what he calls a "replay in reverse" of the Marshall Plan. ----- Join Economics Professor Richard Wolff, University of Massachusetts, for a screening of his film, "Capitalism Hits the Fan," and a Q and 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. - The New School Richard D. Wolff is Professor of Economics Emeritus, University of Massachusetts, Amherst where he taught economics from 1973 to 2008. He is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University, New York City. He also teaches classes regularly at the Brecht Forum in Manhattan. Earlier he taught economics at Yale University (1967-1969) and at the City College of the City University of New York (1969-1973). In 1994, he was a Visiting Professor of Economics at the University of Paris (France), I (Sorbonne).
Length: 06:55

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