Basic prospects for the US economy in 2012 opened this month’s update. Most attention focused on analyzing the two main problems now shaking European capitalism: (1) the financial and social costs and implications of European governments’ debts and austerity programs aimed to alleviate those debts, and (2) conflicts over Greece’s debts and default scenarios. Emphasis was placed on the impact of Europe’s crises on the US economy in 2012.

These Tuesday evenings will each begin with an update and analysis of major economic events of the last month and their contexts of longer-term economic trends shaping politics and society here and abroad. We will focus on the evolving global capitalist economic crisis and its consequences. We will examine topics such as

• the social costs effects of the historic long-term US unemployment,
• national debt crises and “austerity programs” in Greece, Ireland, Spain, and beyond
• changes in today’s Chinese economy and their global effects,
• tax reform and the entire tax issue in the US today,
• continuing crisis in the US housing and credit markets
• the economics of immigration

Actual economic developments will shape the agenda for each monthly Tuesday meeting. Rick Wolff, with occasional guests, will present an economic update and an analysis of some particular economic topics and then open the floor to questions, comments and a general discussion of where the US and world economies are going and the political implications. We aim to develop participants’ understanding of and ability to explain to others the key economic developments of our time.

http://blip.tv/professor-wolff/wolff2012jange-5897241

http://rdwolff.com