Richard Wolff: Global Pressure Cooker

Revolution, anyone? Willy-nilly, it is coming. Professor Richard Wolff starts his explanation from the EU relation to Ukranie at the beginning of the crisis, 2014…

Dr. Richard Wolff, author of the “Democracy At Work, a Cure For Capitalism” and “Capitalism Hits the Fan” joins Thom Hartmann at the Big Picture to discuss what EU really is. Joining the European Union has been a disaster for countries like Greece, Spain, Portugal and Ireland. Austerity cuts have decimated their already struggling economies, but actually, it has also decimated Italian economy. There is even derogatory acronym PIIGS (Portugal, Ireland, Italy, Greece, Spain) for the most vulnerable countries. So why is Ukraine even THINKING of moving closer to joining the EU?

But there is even more interesting point at the end of this interview, where Professor Wolff explains that it's not just Ukrainian pressure cooker, and not just EU where the large capital leaves more and more people without a possibility for survival… it is a global pressure cooker. Capital is leaving North America and Europe, making better results at the Far East, and creating an infrastructure for the new economic powers. Result? Political dynamite. U.S. has its own Ukraines, only called “Detroit”, or “Cleveland”, or…

It's not a melting pot any more, it is a pressure cooker!

Duration: 11:00

About Richard D. Wolff

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)


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