This week Eric sits down with economist Richard Wolff to discuss capitalism, its inefficiencies, and its discontents. They examine how the US and European economies have evolved in the era of neoliberalism, how financialization has pervaded every aspect of our economic lives, and how debt has become the central pillar of modern capitalism’s house of cards. Eric and Richard also focus on solutions to the crisis of capitalism including the need for cooperative, worker self-directed enterprises and the democratization of the workplace. Putting the means of production in the hands of workers is no fantasy, but rather increasingly seems to be an absolute necessity.
Musical interlude: Ali Farka Toure – “Soya”