The Lecture, Capitalism Hits The Fan By Richard Wolff

In the lecture, â€Å"Capitalism Hits the Fan† by Richard Wolff, he explains how a combination of factors led to a severe economic crisis of his lifetime. For example: wages stopped rising, coping with traumas, irrational exuberance and how things don’t work. The purpose of this lecture is Wolff to prove his point about what caused the crisis of 2008. Breaking it down point to point, there are three things the economic crisis is not. Financial crisis being one of them, Wolff explains how it comes from the entire economic system and didn’t start with banking or nothing to do with banks. Another false economic crisis he explains is how temporary isn’t one of them. Wishful thinking was an example he mentioned relating two historical parallels. In the 1930’s, there was a great crisis that is being compared to what is happening now. Since 1929 to 1939 Wolff explains how presidents Hoover and Roosevelt tried may policies that we currently see today in Washington. Over those years it didn’t work, which meant we couldn’t get out of the depression. Getting out of the depression, a change happened which was called World War ll. Lastly, people thinking it will be a quick and easy fix. For example, the United States government tried one policy after another, meaning them dropping interest rates and getting m ore money in the economy. With things being promised and said, something bigger and better is going to have to happen. Wolff than moves onto talking about how we got here and how seriousShow MoreRelatedOpportunities23827 Words   |  96 PagesDutch coffee connoisseur also created his own blends and worked to educate consumers about specialty coffee: its origins, flavors, and preparation. His store quickly became a northern California institution, attracting first-time customers and loyal fans alike. 5 This document is authorized for use only by Daniel De Alejandro in Emprendimiento y Desarrollo Empresarial Enero 2013 taught by Juan Arriaga Muzquiz from January 2013 to July 2013. For the exclusive use of D. DE ALEJANDRO 801-361 Read MoreDeveloping Management Skills404131 Words   |  1617 Pagesby adding more application questions. †¢ Revised the PowerPoint slides. A MESSAGE TO STUDENTS: Why Focus on Management Skill Development? Given that a â€Å"skill development† course requires more time and effort than a course using the traditional lecture/discussion format, we are sometimes asked this question by students, especially those who have relatively little work experience. Reason #1: It focuses attention on what effective managers actually â€Å"do. † In an influential article, Henry Mintzberg