Global Capitalism Monthly: Economic Update AUGUST 2016 | Democracy at Work
It’s time to tune into Prof. Richard Wolff’s monthly Economic Update. For August, he talks about the economic “plans” of Trump, Clinton, Stein, and Johnson, as well as key issues that are missing from the 2016 election campaign.
Wolff’s monthly lectures may be long, but they’re always compelling, and colorful — because of his droll speaking style and use of “technical economic terms” like “bullsh*t.”
Of particular interest to me is Wolff’s assessment that even while our nation’s economic system breaks down, we are in denial about it. Wolff says:
“The level of breakdown is bad. The level of denial of the breakdown makes it worse. Take a page from psychology… To suffer a trauma… is bad. To suffer a trauma about which you can’t become conscious, that you can’t talk about, that you can’t confront, makes the trauma much, much worse. We are a society going through a trauma of a dysfunctional economic system, and we are lead by our political leaders, and our media, and our academics, into a vast program of denial.”
What are your thoughts? Is the U.S. in a traumatic economic breakdown? Have you personally engaged in economic denial? If so, when and how did you become aware of it?