Richard D. Wolff – How does the system of debt function? Are we protected against predatory lending?

Richard D. Wolff – How does the system of debt function? Are we protected against predatory lending?

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In this interview with Professor of Economics Emeritus (University of Massachusetts), Marxist economist and founder of Democracy at Work, Richard D. Wolff,  we talk to him about bankruptcy protection, debt jubilee, students debt and the function that a credit system serves in our society today.

• Why are individuals guaranteed bankruptcy protection and nation states aren’t?
• What is debt jubilee? What relevance does debt jubilee have in today’s day and age?
• Why are students and working class people taking on more and more debt?
• Why are students particularly vulnerable to predatory lending?
• Are banks using debt as a mechanism of control?

All of this and more are addressed in the video below:

VIDEO: Richard D. Wolff – How does the system of debt function? Are we protected against predatory lending?

For more videos to our educational series with Richard Wolff, click here.

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ABOUT RICHARD D. WOLFF

Richard Wolff is Professor of Economics Emeritus, University of Massachusetts, Amherst. He is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University in New York. Wolff has also taught economics at Yale University, City University of New York, and the University of Paris I (Sorbonne). He is a co-founder and contributor of Democracy at Work, a non-profit organization that promotes democratic workplaces as a key part of a transition to a better economic system. Wolff has published many books and articles, both scholarly and popular. Most recently, in 2012, he published the books Democracy at Work: A Cure for Capitalism (Haymarket Books) and Contending Economic Theories: Neoclassical, Keynesian, and Marxian, with Stephen Resnick (Cambridge, MA, and London: MIT University Press). He writes regularly for Truthout.org. He has been interviewed on The Charlie Rose Show, Up with Chris Hayes, Real Time with Bill Maher, Democracy Now!, Al-Jazeera English, Thom Hartmann, NPR, Alternative Radio, and many other radio and TV programs in the United States and abroad. The New York Times Magazine has named him “America’s most prominent Marxist economist.

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