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150103 Richard Wolff - The Market: A Paragon of Virtue

Myths die hard. Just as there are no unicorns, there is no free market. The myth is propagandized by its beneficiaries - the rich and powerful, the one percent. The oft-repeated line is the market is some neutral entity which fosters competition and people benefit as prices come down. Reality is slightly different. We donít have a really free market because there is massive government intervention to prop it up through bailouts and subsidies, tax breaks and loopholes. The system generates more and more monopoly and concentration. Attempts at regulation are non-existent or are so watered down as to be virtually meaningless. The market as a paragon of virtue? Heard of secret deals and insider trading? The crucial question: how do we create an economy which is responsive to peopleís needs, meets social goals of equality and protects the environment?

Richard Wolff is Professor of Economics Emeritus at the University of Massachusetts in Amherst and currently a visiting professor at the New School in New York. The New York Times called him "America's most prominent Marxist economist." He is the author of numerous books including Capitalism Hits the Fan, Democracy at Work and Occupy the Economy: Challenging Capitalism with David Barsamian.


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Alternative Radio (Aust.) PO Box 687 Cowes VIC 3922 Australia
tel. 61-3-5952 5780 mob. 61-4-1359 7828 inquiries@araustralia.org
www.araustralia.org