President Obama's proven reliability as outsider president extraordinaire - putting a disarming smiley face on capitalism's depredations - is his administration's economic significance."Outsider president extraordinaire"? Looks like the Harvard Law school, consummate insider senator and then president fooled Wolff too. In spite of that, it's a good history lesson. Wolff got the depredation right.
The crisis since 2007 exposes capitalism's instability and injustices. It revives interest in the New Deal's labor-radical coalition and its policy alternatives. Previously effective ways of stifling criticism of capitalism no longer work. The criticisms and critics are finding ways to organize effectively. Meanwhile, the conservative coalition has removed its mask. Sharpening social conflicts loom.Truthout
Obama's Economic Significance
Richard D. Wolff | 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.
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