Understanding Capitalism

Synopsis

Capitalism is often presented as the only viable economic system, yet growing inequality, financial instability, and declining workplace security have prompted many to ask whether alternatives are possible. In Understanding Capitalism, economist Richard D. Wolff explains how capitalism functions, how it developed historically, and why it repeatedly generates economic crises, concentrating wealth and power in the hands of a few while leaving many workers with limited control over their own lives.

Combining economic history with accessible analysis, Wolff examines the strengths and contradictions of capitalism while exploring proposals for a more democratic economy. By focusing on the relationship between workers, employers, and ownership, he encourages readers to think critically about the systems that shape everyday life and to consider how workplaces and societies might be organized differently.

About the Author

Richard D. Wolff is an American economist, Professor Emeritus of Economics at the University of Massachusetts Amherst, and Visiting Professor in the Graduate Program in International Affairs at The New School in New York. A leading scholar of Marxian economics and class analysis, he has also taught at Yale University, the City University of New York, the Sorbonne, and The Brecht Forum. Wolff is the author of numerous books, including Understanding Socialism, Understanding Marxism, Democracy at Work, and Capitalism Hits the Fan.

Publisher
Common Notions

Publication Date
July 22, 2025

Format
Paperback

Pages
240

Subjects
Politics · Economics · Capitalism · Political Economy

ISBN
9798888904602