UMass Economics

Wolff on the action taken by European workers

Richard Wolff

Richard Wolff, UMass Amherst economics professor emeritus, describes the rallies and strikes that have been taking place across Europe.  European workers are protesting the austerity measures which are being imposed as a result of the economic crisis.  According to Wolff, their chief slogan is: we are the working people who produce the profits, the goods, and the service of the capitalist economy; we are not going to pay for its crisis.  These workers believe that cutting government services and payroll, will only make the crisis worse and that instead, government should reduce their need for borrowing by taxing the wealthiest 5 percent.


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