How Class Works: Understanding The Foreclosure Crisis

How Class Works

Richard Wolff is an economist who has studied class issues for more than 40 years. In this animation and audio presentation, Wolff explains what class is all about and applies that understanding to the foreclosure crisis of 2007–2011. He argues that class concerns the “way our society splits up the output [and] leaves those who get the profits in the position of deciding and figuring out what to do with them… We all live with the results of what a really tiny minority in our society decides to do with the profits everybody produces.” As you watch and listen, consider what we know from research about disease and illness patterns among groups with lower income, more stress, and less control of their lives. Consider how investment decisions in neighborhoods, over transportation, school facilities, parks, location of grocery stores, quality of affordable housing, etc. influenced by powerful interests, affect the quality of life for large segments of the population.


4 Responses to “How Class Works: Understanding The Foreclosure Crisis”
  1. Sue Em says:

    So government should step in and tax the corporations, punish American corporations that bring jobs overseas, reward corporations that operate fairly, put rules in place that work for society….But half of America screams for LESS government (or nearly 100% of FOX News watchers)….They refuse to understand the above video, slash unions, hope for trickle down or do not want to learn anything about it – complete ignorance. Sadly, most of the people I know are far more interested in Pintrest, updating their facebook status and reading Fifty Shades of Grey. Where is their outrage? How do we ever get out of this???

  2. Sarah says:

    There are economists who are true to their title, an almost unfashionable concern for that often ridiculed position of concern for everyone. Contrast this good work with other so-called academics who advocate larceny.

  3. Steve says:

    We have to face this. It’s easy to cover up a crime scene by blaming it on the system.

  4. lies is all they tell says:

    good video. they showed one picture of an oil spill. take BP what they did to the florida coast. non of our government did any thing. we were under employed and lost jobs after the spill and are losing our homes yet we can not get the judges to release any money to to homeowners so we can save our homes.. good video so true

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