Extremely witty lecture of professor Richard Wolff, explaining the global economy, monetary system and the rise of China…
Professor Richard Wolff has an ability to explain the economic mechanisms with most elegant clarity, and you can see it here where he is explaining the mechanism of a looming economic crisis.
In this lecture he busts a myth that FED creates all the problems in the global economy today. The truth is that FED is a creation of financial plutocracy, which means it is just an extreme consequence of a rotting capitalist system. Capitalism creates corruption which produces “regulators” in function of the large capital.
He also explains, in terms comprehensible to a layman, why China's system is more efficient and why we all sit in Chinese underwear, i.e. why U.S. economy depends heavily on China…
Do not miss this lecture
Duration: 35:48
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.
More on him you can find at his Internet site:
Prof. Richard D. Wolff presentation
…And at Democracy at Work (d@w)
