With breathtaking clarity renowned University of Massachusetts Economics Professor Richard Wolff breaks down the root causes of todays economic crisis showing how it was decades in the making and in fact reflects seismic failures within the structures of Americanstyle capitalism itself Wolff traces the source of the economic crisis to the 1970s when wages began to stagnate and American workers were forced into a dysfunctional spiral of borrowing and debt that ultimately exploded in the mortgage meltdown By placing the crisis within this larger historical and systemic frame Wolff argues convincingly that the proposed government bailouts stimulus packages and calls for increased market regulation will not be enough to address the real causes of the crisis in the end suggesting that far more fundamental change will be necessary to avoid future catastrophes
