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Democracy at Work: A Cure for Capitalism, by Richard D. Wolff
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"Richard Wolff is the leading socialist economist in the country. This book is required reading for anyone concerned about a fundamental transformation of the ailing capitalist economy."—Cornel West
“Richard Wolff’s constructive and innovative ideas suggest new and promising foundations for a much more authentic democracy and sustainable and equitable development, ideas that can be implemented directly and carried forward. A very valuable contribution in troubled times.”—Noam Chomsky
"Probably America's most prominent Marxist economist."—The New York Times
Capitalism as a system has spawned deepening economic crisis alongside its bought-and-paid-for political establishment. Neither serves the needs of our society. Whether it is secure, well-paid, and meaningful jobs or a sustainable relationship with the natural environment that we depend on, our society is not delivering the results people need and deserve.
One key cause for this intolerable state of affairs is the lack of genuine democracy in our economy as well as in our politics. The solution requires the institution of genuine economic democracy, starting with workers directing their own workplaces, as the basis for a genuine political democracy.
Here Richard D. Wolff lays out a hopeful and concrete vision of how to make that possible, addressing the many people who have concluded economic inequality and politics as usual can no longer be tolerated and are looking for a concrete program of action.
Richard D. Wolff is professor of economics emeritus at the University of Massachusetts, Amherst. He is currently a visiting professor at the New School for Social Research in New York. Wolff is the author of many books, including Capitalism Hits the Fan: The Global Economic Meltdown and What to Do About It. He hosts the weekly hour-long radio program Economic Update on WBAI (Pacifica Radio) and writes regularly for The Guardian, Truthout.org, and MRZine.
- Sales Rank: #228492 in Books
- Published on: 2012-10-02
- Original language: English
- Number of items: 1
- Dimensions: 7.75" h x 5.75" w x .50" l, .50 pounds
- Binding: Paperback
- 220 pages
Review
“Probably America’s most prominent Marxist economist.”
—New York Times Magazine
“Imagine a country where the majority of the population reaps the majority of the benefits for their hard work, creative ingenuity, and collaborative efforts. Imagine a country where corporate losses aren't socialized, while gains are captured by an exclusive minority. Imagine a country run as a democracy, from the bottom up, not a plutocracy from the top down. Richard Wolff not only imagines it, but in his compelling, captivating and stunningly reasoned new book, Democracy at Work, he details how we get there from here — and why we absolutely must.”
—Nomi Prins, Author of It Takes a Pillage and Black Tuesday
"Richard Wolff is the leading socialist economist in the country. This book is required reading for anyone concerned about a fundamental transformation of the ailing capitalist economy!" - Cornel West
"Ideas of economic democracy are very much in the air, as they should be,
with increasing urgency in the midst of today's serious crises. Richard Wolff's
constructive and innovative ideas suggest new and promising foundations for
much more authentic democracy and sustainable and equitable development,
ideas that can be implemented directly and carried forward. A very valuable
contribution in troubled times." —Noam Chomsky
“Bold, thoughtful, transformative—a powerful and challenging vision of that takes us beyond both corporate capitalism and state socialism. Richard Wolff at his best!”
—Gar Alperovitz, author of America Beyond Capitalism; Lionel R. Bauman Professor of Political Economy, University of Maryland
Praise for Capitalism Hits the Fan (book and DVD)
“With unerring coherence and unequaled breadth of knowledge, Rick Wolff offers a rich and much needed corrective to the views of mainstream economists and pundits. It would be difficult to come away from this... with anything but an acute appreciation of what is needed to get us out of this mess.”
—Stanley Aronowitz, Distinguished Professor of Sociology and Urban Education, City University of New York
From the Back Cover
A new historical vista is opening before us in this time of change, Wolff writes in this compelling new manifesto for a democratic alternative based on workers managing their own workplaces.
Capitalism as a system has spawned deepening economic crisis alongside its bought-and-paid for political establishment. Neither serves the needs of our society. Whether it is secure, well-paid and meaningful jobs or a sustainable relationship with the natural environment that we depend on, our society is not delivering the results people need and deserve.
One key cause for this intolerable state of affairs is the lack of genuine democracy in our economy as well as in our politics. The solution requires the institution of genuine economic democracy, starting with workers managing their own workplaces, as the basis for a genuine political democracy.
Here Wolff lays out a hopeful and concrete vision of how to make that possible, addressing the many people who have concluded economic inequality and politics as usual can no longer be tolerated and are looking for a concrete program of action.
Richard D. Wolff is Professor of Economics Emeritus, University of Massachusetts, Amherst. He is currently a Visiting Professor at the New School University in New York. Wolf is the author of many books, including Capitalism Hits the Fan: The Global Economic Meltdown and What to Do About It. He hosts the weekly hour-long radio program Economic Update on WBAI (Pacifica Radio) and writes regularly for The Guardian, Truthout.org, and the MRZine.
About the Author
Richard D. Wolff is a American economist, well-known for his work on Marxist economics, economic methodology and class analysis.
Wolff received his Ph.D. in economics from Yale University in 1969. Wolff taught at the City College of New York from 1969-1973, and teaches graduate seminars and undergraduate courses and direct dissertation research in economics at the University of Massachusetts Amherst.
He has authored numerous articles and books and has given many public lectures at colleges and universities (Notre Dame, University of Missouri, Washington College, Franklin and Marshall College, New York University, etc.) to community and trade union meetings, in high schools, etc. He also maintains an extensive schedule of media interviews (on many independent radio stations such as KPFA in Berkeley, KPFK in Los Angeles, WBAI in New York, National Public Radio stations, the Real News Network, the Glenn Beck Show, and so on).
Most helpful customer reviews
91 of 101 people found the following review helpful.
Revolutionary
By Hans G. Despain
Recently Rick Wolff has been a one-man Revolution. He is the most dangerous economist in America to the oligopolistic hegemony of the American corporation. He is recently off the widely acclaimed success of his book Capitalism Hits the Fan: The Global Economic Meltdown and What to Do About It and DVD Capitalism Hits the Fan: Richard Wolff on the Economic Meltdown. This book and DVD explain how and why the crisis hit and why it was so deep and economically devastating.
More recently his book Occupy the Economy: Challenging Capitalism (City Lights Open Media) explains the economic and material conditions of American protests and Occupy movements and predicts that ultimately these protests won't go away because the problems persist.
He has published with Steve Resnick Contending Economic Theories: Neoclassical, Keynesian, and Marxian which explains and compares orthodox microeconomics, with Keynesian macroeconomics, and with a political economy approach to understanding capitalism from a Marxian economic perspective.
The current book under review is an important complement to these other works and is unambiguously an argument for an alternative to the American economic system which is completely failing 40 percent of American citizens (nearly 40 percent of Americans are double the poverty rate, or equivalent household income for a family of four people of $46,000; more than 50 percent of the American full-time work force make less than $25,000; more than 16 percent of the American workforce are underemployed).
Wolff shows the political response to resolving income and wealth inequality, poverty, and economic instability and financial crisis is both absent and politically impossible. The traditional debates between Republicans and Democrats have centered on lower taxes and government spending increases filling the gap for a lack of private investment. Neither is a viable solution to the Normal state of capitalistic stagnation. More progressive politicians and economists argue for a public jobs program, and the federal government being the Employer of Last Resort.
The economics behind job programs and Employer of the Last Resort legislation can be argued to be irrelevant, because the political avenues are blocked, hence political viability approaches zero.
At the same time the indebtedness of American citizens, low incomes, and the overworked lives of American workers are not sustainable.
In this volume Rick Wolff argues the solution will come from American workers themselves. American workers and citizens across the nation are creating "workers' self-directed enterprises" or WSDE. More than 10 million Americans are members of Cooperatives. WSDEs would build from these already in place Cooperative organizations. In a WSDE, workers become their own board of directors. This is already happening across the country, especially Cleveland Ohio, and across the globe, especially in Spain, Italy, and Japan. Wolff explains not only that these phenomena are occurring, but he offers a model of how to create and sustain these enterprises and how they would function for the betterment of the American worker in the form of higher pay, profit sharing, more leisure, fewer hours of work, greater benefits in the form of health-care and retirement, etc..
These WSDE would make a significant contribution to reducing income and wealth inequality, poverty, and to stabilize the American economic system.
23 of 23 people found the following review helpful.
Good Though Stuffy
By P. Schumacher
This book is not as good as Wolff's "Occupy the Economy."
It lays out the same basic proposal--worker controlled workplaces--but treats it in a more academic and stuffy way.
In "Occupy the Economy," Wolff is on fire. He not only explains his positions, he advocates for them. He gives a wealth of history and fact to support his conclusions.
But here, in "Democracy at Work," he confines himself to an abstract, almost soporific, presentation.
This is a shame, because his ideas have real merit.
Wish I could give five stars, but after "Occupy the Economy," this one's a letdown.
63 of 71 people found the following review helpful.
The book I have been waiting for!
By Earl Powell
I have been following Richard Wolff for the last few years. He often talked about the idea of a Workers Self Directed Enterprise (WSDE). I have been looking for more information on such an organization and how to create and manage such an organization. Richard Wolff's new book "Democracy at Work, A Cure for Capitalism" is just the "nuts and bolts" book I have been looking for. The first half of the book covers the "why" and the second half of the book covers the "how" to create a Workers Self Directed Enterprise. Please pay attention to Richard's reference to Italy's Marcora law. I am having meeting this week to see how we could create a pilot Marcora type law in California to support new entrepreneurial enterprises in Silicon Valley.
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