Richard Wolff's Appearance on Public Broadcast

Naked capitalism has a post this morning about Richard Wolff's appearance on Bill Moyer's show last Friday. After watching the Moyers interview of Wolff online this past Saturday I too thought that we've crossed some sort of line. We are now talking openly -- because the facts at this point are overwhelming and irrefutable -- that capitalism is failing. We are naming the system, and along with it, its endemic corruption; its redistribution of wealth upwards to the 1%; its immiseration of working people. Capitalism used to get by on the argument that it did the best job of creating growth; that, yes, the wealthy do very well but so do working people. This argument can no longer be made, as the latest numbers from Berkeley economist Emmanuel Saez show. A rising tide now only lifts the boats of the 1%. The rest of us are paddling furiously to stay afloat.