. November 18, 2012 SouthAmerica: Here is the best candidate to be the next "Secretary of Labor" of the new Barack Obama administration. The new Barack Obama administration should include economist Richard D. Wolf on top of the close circle of economic advisors to the president during his second-term. Economist Richard D. Wolf would be an excellent choice for âSecretary of Laborâ for the new administration, and he would be influential and outspoken like Secretary of Labor Robert Reich was under President Bill Clinton from 1993 to 1997. Why? Because the newly elected head of state in China, President Xi Jinping has a doctorate in Marxist theory and ideological education, and he will be around for the next 10 years guiding the main economic competitor of the United States in the coming years Economist Richard D. Wolf, well known for his work on Marxian economics, would have a better understanding and grasp of what is really happening in China regarding its economy and the direction that China is heading in the coming years. ***** December 11, 2011 The Call for a New Capitalism with Professor Richard D. Wolff at BSEC â Part 1 of 2 <iframe width="420" height="315" src="http://www.youtube.com/embed/H45YJXF8BI0" frameborder="0" allowfullscreen></iframe> ***** The Call for a New Capitalism with Professor Richard D. Wolff at BSEC â Part 2 of 2 <iframe width="420" height="315" src="http://www.youtube.com/embed/nvv7yjfApHo" frameborder="0" allowfullscreen></iframe> ***** Biography: Richard D. Wolff is an American economist, well known for his work on Marxian economics, economic methodology, and class analysis. He is Professor of Economics Emeritus, University of Massachusetts, Amherst, and currently a Visiting Professor in the Graduate Program in International Affairs of the New School University in New York. Wolff has also taught economics at Yale University, City University of New York, University of Utah, University of Paris I (Sorbonne), and The Brecht Forum in New York City. In 2010, Wolff published Capitalism Hits the Fan: The Global Economic Meltdown and What to Do About It, also released as a DVD. He released three new books in 2012: Occupy the Economy: Challenging Capitalism, with David Barsamian (San Francisco: City Lights Books), Contending Economic Theories: Neoclassical, Keynesian, and Marxian, with Stephen Resnick (Cambridge, MA, and London: MIT University Press), and Democracy at Work (Chicago: Haymarket Books). Wolff hosts the weekly hour-long radio program Economic Update on WBAI, 99.5 FM, New York City (Pacifica Radio). He writes regularly for The Guardian, Truthout.org, and the MRZine. He has been interviewed on RT-TV, Amy Goodman's Democracy Now!, Al Jazeera English, Thom Hartman, National Public Radio, Alternative Radio, and many other radio and television programs in the United States and abroad. The New York Times Magazine has named him "America's most prominent Marxist economist." His work can be accessed at rdwolff.com. Wolff lives in Manhattan with his wife and frequent collaborator, Dr Harriet Fraad, a practicing psychotherapist (see podcasts at www.rdwolff.com on psychology and economics). Source: http://en.wikipedia.org/wiki/Richard_D._Wolff .
. November 25, 2012 SouthAmerica: This four part course provides a working foundation in the core concepts of Marxian economic theory -- necessary and surplus labor, labor power, surplus value, exploitation, capital accumulation, distributions of the surplus, capitalist crises, and the differences between capitalist and other class structures. In addition, these core concepts will be systematically used to understand current social problems (including political and cultural as well as economic problems). Session 1 "Intro to Marxian Economics" Session 1 - Richard D Wolff â (Part 1 of 6) <iframe width="560" height="315" src="http://www.youtube.com/embed/3wkO3qsZY_U" frameborder="0" allowfullscreen></iframe> Time: 15 Min. "Intro to Marxian Economics" Session 1 - Richard D Wolff â (Part 2 of 6) <iframe width="560" height="315" src="http://www.youtube.com/embed/YzYG5LAgb3Y" frameborder="0" allowfullscreen></iframe> Time: 15 Min. "Intro to Marxian Economics" Session 1 - Richard D Wolff â (Part 3 of 6) <iframe width="560" height="315" src="http://www.youtube.com/embed/iFHVWBKrgZY" frameborder="0" allowfullscreen></iframe> Time: 15 Min. "Intro to Marxian Economics" Session 1 - Richard D Wolff â (Part 4 of 6) <iframe width="560" height="315" src="http://www.youtube.com/embed/bX2oC3SlrBo" frameborder="0" allowfullscreen></iframe> Time: 11 Min. "Intro to Marxian Economics" Session 1 - Richard D Wolff â (Part 5 of 6) <iframe width="560" height="315" src="http://www.youtube.com/embed/dX-YbKZ6yMA" frameborder="0" allowfullscreen></iframe> Time: 13 Min. "Intro to Marxian Economics" Session 1 - Richard D Wolff â (Part 6 of 6) <iframe width="560" height="315" src="http://www.youtube.com/embed/LvmFeRGVnSk" frameborder="0" allowfullscreen></iframe> Time: 14 Min. .
. November 25, 2012 SouthAmerica: This four part course provides a working foundation in the core concepts of Marxian economic theory -- necessary and surplus labor, labor power, surplus value, exploitation, capital accumulation, distributions of the surplus, capitalist crises, and the differences between capitalist and other class structures. In addition, these core concepts will be systematically used to understand current social problems (including political and cultural as well as economic problems). Session 2 "Intro to Marxian Economics" Session 2 - Richard D Wolff â (Part 1 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/hfjSyOJHg7Q" frameborder="0" allowfullscreen></iframe> Time: 14 Min. "Intro to Marxian Economics" Session 2 - Richard D Wolff â (Part 2 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/PJ1Em1Tyho0" frameborder="0" allowfullscreen></iframe> Time: 14 Min. "Intro to Marxian Economics" Session 2 - Richard D Wolff â (Part 3 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/skE1bXxgKkk" frameborder="0" allowfullscreen></iframe> Time: 14 Min. "Intro to Marxian Economics" Session 2 - Richard D Wolff â (Part 4 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/ucjdhq1vIto" frameborder="0" allowfullscreen></iframe> Time: 14 Min. "Intro to Marxian Economics" Session 2 - Richard D Wolff â (Part 5 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/0ot8Rs5BAJc" frameborder="0" allowfullscreen></iframe> Time: 14 Min. "Intro to Marxian Economics" Session 2 - Richard D Wolff â (Part 6 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/Ja4j6ivmhbg" frameborder="0" allowfullscreen></iframe> Time: 14 Min. "Intro to Marxian Economics" Session 2 - Richard D Wolff â (Part 7 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/Oh_h2ND8mpw" frameborder="0" allowfullscreen></iframe> Time: 15 Min. "Intro to Marxian Economics" Session 2 - Richard D Wolff â (Part 8 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/_eeRHnn3osI" frameborder="0" allowfullscreen></iframe> Time: 15 Min. .
. November 25, 2012 SouthAmerica: This four part course provides a working foundation in the core concepts of Marxian economic theory -- necessary and surplus labor, labor power, surplus value, exploitation, capital accumulation, distributions of the surplus, capitalist crises, and the differences between capitalist and other class structures. In addition, these core concepts will be systematically used to understand current social problems (including political and cultural as well as economic problems). Session 3 "Intro to Marxian Economics" Session 3 - Richard D Wolff â (Part 1 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/IWaH4jSFeNo" frameborder="0" allowfullscreen></iframe> Time: 14 Min. "Intro to Marxian Economics" Session 3 - Richard D Wolff â (Part 2 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/Kv0tYB8fwqY" frameborder="0" allowfullscreen></iframe> Time: 14 Min. "Intro to Marxian Economics" Session 3 - Richard D Wolff â (Part 3 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/odweKgG1qK8" frameborder="0" allowfullscreen></iframe> Time: 14 Min. "Intro to Marxian Economics" Session 3 - Richard D Wolff â (Part 4 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/5Y0vVvWmh5s" frameborder="0" allowfullscreen></iframe> Time: 14 Min. "Intro to Marxian Economics" Session 3 - Richard D Wolff â (Part 5 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/mkrdjfRThSk" frameborder="0" allowfullscreen></iframe> Time: 14 Min. "Intro to Marxian Economics" Session 3 - Richard D Wolff â (Part 6 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/gnvfue5XLlE" frameborder="0" allowfullscreen></iframe> Time: 14 Min. "Intro to Marxian Economics" Session 3 - Richard D Wolff â (Part 7 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/mrIcW6MTk3c" frameborder="0" allowfullscreen></iframe> Time: 14 Min. "Intro to Marxian Economics" Session 3 - Richard D Wolff â (Part 8 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/AwYROpNF8fM" frameborder="0" allowfullscreen></iframe> Time: 12 Min. .
. November 25, 2012 SouthAmerica: This four part course provides a working foundation in the core concepts of Marxian economic theory -- necessary and surplus labor, labor power, surplus value, exploitation, capital accumulation, distributions of the surplus, capitalist crises, and the differences between capitalist and other class structures. In addition, these core concepts will be systematically used to understand current social problems (including political and cultural as well as economic problems). Session 4 "Intro to Marxian Economics" Session 4 - Richard D Wolff â (Part 1 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/0AthYZIwQ8k" frameborder="0" allowfullscreen></iframe> Time: 14 Min. "Intro to Marxian Economics" Session 4 - Richard D Wolff â (Part 2 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/aJqcWnj1xww" frameborder="0" allowfullscreen></iframe> Time: 14 Min. "Intro to Marxian Economics" Session 4 - Richard D Wolff â (Part 3 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/iZNtzDPj1mM" frameborder="0" allowfullscreen></iframe> Time: 14 Min. "Intro to Marxian Economics" Session 4 - Richard D Wolff â (Part 4 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/GNrNsKOhonQ" frameborder="0" allowfullscreen></iframe> Time: 14 Min. "Intro to Marxian Economics" Session 4 - Richard D Wolff â (Part 5 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/2ydw-sj_AAs" frameborder="0" allowfullscreen></iframe> Time: 14 Min. "Intro to Marxian Economics" Session 4 - Richard D Wolff â (Part 6 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/sZNDWkRn2Hw" frameborder="0" allowfullscreen></iframe> Time: 14 Min. "Intro to Marxian Economics" Session 4 - Richard D Wolff â (Part 7 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/TRO8htm1MnQ" frameborder="0" allowfullscreen></iframe> Time: 13 Min. "Intro to Marxian Economics" Session 4 - Richard D Wolff â (Part 8 of 8) <iframe width="560" height="315" src="http://www.youtube.com/embed/t7j6-8FEqgE" frameborder="0" allowfullscreen></iframe> Time: 13 Min. .
. November 25, 2012 SouthAmerica: On my article published at Brazzil magazine in September 2006 I said the following: â...Technology Changed Everything - Right now, we are in the middle of a historical turning point. In the last few years we had a revolution in technology, and today we can do things that were not viable only two years ago. â¦â Brazzil Magazine - September 06, 2006 âWhile the American Dream Is Outsourced Brazil Drives the World into the Futureâ Written by Ricardo C. Amaral http://www.brazzil.com/component/content/article/171-september-2006/9684.html ...On a daily basis, the lifeline of the American economy is being exported overseas - including its R&D, American "know how" and with it the potential of future innovations. Everybody knows that this is going on, but still there is a major disconnect between the perception of what people think is happening and the actual speed of this process and economic revolution. To help us understand what is happening today we need to take a close look at two giants of economic thought. First, John Maynard Keynes, a British economist who lived from 1883 to 1946 - considered by many people to be the greatest economist of the last century. His Keynesian Economics is an economic theory stating that active government intervention in the marketplace and monetary policy is the best method of ensuring economic growth and stability. Any government that adopts Keynesian economics believes it is the government's job to smooth out the bumps in business cycles. Intervention would come in the form of government spending and tax breaks in order to stimulate the economy, and government spending cuts and tax hikes in good times, in order to curb inflation. Keynesian theory had its origins in his passionate attachment to the free market and Keynes would be right at home in today's market-driven, free trade-oriented world. In my opinion, John Maynard Keynes can be considered the most influential economist in the last 70 years in relation to the development of the major industrial economies in the world. He would be number one on my list of influential economists up to 2005. Second, but in the beginning of the new millennium - from 2006 on - the number one position of the most influential economist belongs to another outstanding economist: Joseph A. Schumpeter a giant in the history of economic thought. In a very short period, almost overnight, Schumpeter became the most relevant and important economist for the 21st century. Joseph A. Schumpeter, an Austrian economist who lived from 1883 to 1950 - his economic theory of "creative destruction" will have the greatest economic impact on countries around the world in the future, and will help explain why globalization will speed up and will rearrange the global economy on the coming years. In 1983, Peter Drucker wrote the following on "Modern Prophets" about Schumpeter's "creative destruction" economic theory: "Schumpeter insisted that, innovation - that is, entrepreneurship that moves resources from old and obsolescent to new and more productive employments - is the very essence of economics and most certainly of a modern economy. Schumpeter's Economic Development does what neither the classical economists nor Marx nor Keynes was able to do: It makes profit fulfill an economic function. In the economy of change and innovation, profit, in contrast to Marx and his theory, is not a Mehrwert, a "surplus value" stolen from the workers. On the contrary, it is the only source of jobs for workers and of labor income. The theory of economic development shows that no one except the innovator makes a genuine "profit"; and the innovator's profit is always quite short-lived. But innovation in Schumpeter's famous phrase is also "creative destruction." It makes obsolete yesterday's capital equipment and capital investment. The more an economy progresses, the more capital formation will it therefore need. Thus what the classical economists - or the accountant or the stock exchange - considers "profit" is a genuine cost, the cost of staying in business, the cost of a future in which nothing is predictable except that today's profitable business will become tomorrow's white elephant. Thus, capital formation and productivity are needed to maintain the wealth-producing capacity of the economy and, above all, to maintain today's jobs and to create tomorrow's jobs. Schumpeter's "innovator" with his "creative destruction" is the only theory so far to explain why there is something we call "profit." The classical economists very well knew that their theory did not give any rationale for profit. Indeed, in the equilibrium economics of a closed economic system there is no place for profit, no justification for it, no explanation of it. If profit is, however, a genuine cost, and especially if profit is the only way to maintain jobs and to create new ones, then capitalism becomes again a moral system. The question in Schumpeter's economics is always, is there sufficient profit? Is there adequate capital formation to provide for the costs of the future, the costs of staying in business, the costs of "creative destruction"? The basic question of economic theory and economic policy, especially in highly developed countries, is clearly: How can capital formation and productivity be maintained so that rapid technological change as well as employment can be sustained? What is the minimum profit needed to defray the costs of the future? What is the minimum profit needed, above all, to maintain jobs and to create new ones?" .
I could write two. I recently wrote an essay called the "S/A Manifesto". Unfortunately I didn't really understand the topic, so I got no Marx.
November 25, 2012 SouthAmerica: Reply to nazzdack I would recommend that you watch at least Session 1 of Richard Wolff's seminar - "Intro to Marxian Economics" Session 1 - Richard D Wolff â (Part 1 to 6). Even though I have an economics degree, Marxian Economics was not a subject that my teachers in college, and graduate school coverered in detail - they covered only the usual very short summary regarding this subject. .