Prosperity for Them, Austerity for Us: The Crisis of Capitalism and Resistance from Below

Summary: Around the world, economies are being wrecked by crisis. In addition to the trillions of dollars handed over to Wall Street, the governments of Ireland, Greece, and Portugal required similar bailouts while Spain and Italy are also seeking a way out of the financial crisis. Of course, working class people everywhere are being forced to pay for the crisis; through joblessness, wage-cuts, and the slashing of social services. Likewise, these austerity programs have provoked fightbacks from hundreds of thousands of workers and students across Europe. But, how can we understand the roots of the crisis; beyond the soundbites, headlines, and lies? Hear Joel Geier, a long-time Marxist economist, discuss the evolving crisis and prospects for global capitalism.