Richard D Wolff — When Democracy Is Trumped by the Excesses of Capitalism

In his new book, "Democracy at Work: A Cure for Capitalism," Richard Wolff makes the compelling argument that modern capitalism has undermined democracy, replacing it with a plutocracy. All the props of a democracy remain intact - elections, legislatures, media - but they predominantly function at the service of the oligarchy.

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The following excerpt is entitled "Private Capitalism and Democracy":

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When Democracy Is Trumped by the Excesses of Capitalism
Richard D Wolff, Haymarket Books | Book Excerpt

Richard D. Wolff is Professor of Economics Emeritus, University of Massachusetts, Amherst where he taught economics from 1973 to 2008. He is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University, New York City. He also teaches classes regularly at the Brecht Forum in Manhattan. Earlier he taught economics at Yale University (1967-1969) and at the City College of the City University of New York (1969-1973). In 1994, he was a Visiting Professor of Economics at the University of Paris (France), (Sorbonne).