Understanding Capitalism

“Why does capitalism fail us?” Richard D. Wolff walks readers through this pressing question in a brilliant takedown of an economic system that benefits the few at the great expense of the many.

explores the different definitions of what capitalism is and is not, and dissolves the many myths that, Wolff argues, are designed to confuse and disorient us. Wolff doesn’t simply identify the crises and harms manufactured by capitalism, he details a path forward by outlining alternative economic models that combat the exploitation and oppression inherent in capitalism.

shows that our current economic system is only as strong as the ordinary people who enable its existence, and that capitalism’s demise requires an organized, collective effort by those who can identify its vulnerabilities and limitations, but also understand that another world is indeed possible.

Author Biography

Richard D. Wolffis Professor of Economics Emeritus, University of Massachusetts, Amherst and a Visiting Professor at the New School University in New York. Wolff’s recent work has concentrated on analyzing the causes and alternative solutions to the global economic crisis. His groundbreaking bookDemocracy at Work: A Cure for Capitalisminspired the creation of Democracy at Work, a nonprofit organization dedicated to showing why and how to make democratic workplaces real. Wolff hosts the weekly hour-long radio program “Economic Update,” which is syndicated on public radio stations nationwide, and he writes regularly forThe GuardianandTruthout. Wolff appears frequently on television and radio to discuss his work, with recent guest spots includingReal Time with Bill Maher, with Chris Hayes on MSNBC, andDemocracy Now!He is also a frequent lecturer at colleges and universities across the country.