Births on April 1

Richard D. Wolff, American economist and academic

The Enduring Legacy of Richard David Wolff: A Leading Voice in Marxian Economics

Born on April 1, 1942, Richard David Wolff stands as one of America's most recognizable and influential figures in economic thought, particularly renowned for his contributions as a Marxian economist. His profound work consistently delves into economic methodology and incisive class analysis, offering a critical perspective on capitalism and its inherent structures. Rather than simply describing economic systems, Wolff provides a framework for understanding their dynamics and potential for transformation, earning him recognition as a vital voice in contemporary discourse.

A Distinguished Academic and Prolific Author

Dr. Wolff's distinguished academic journey has seen him contribute significantly to several prestigious institutions, shaping the minds of countless students. He holds the esteemed title of Professor Emeritus of Economics at the University of Massachusetts Amherst, where his insights and theories have left an indelible mark. Beyond this, he continues to actively teach as a Visiting Professor in the Graduate Program in International Affairs at The New School in New York City, demonstrating his ongoing commitment to education and intellectual engagement. His extensive teaching career also includes periods at other renowned universities such as Yale University, City University of New York, the University of Utah, and even an international experience at the University of Paris I (Sorbonne), alongside his impactful involvement with public forums like The Brecht Forum in New York City.

Beyond the lecture hall, Wolff's intellectual contributions are widely disseminated through his extensive body of written work. In 1988, he co-founded the influential journal Rethinking Marxism, a platform dedicated to re-examining and expanding Marxian theory in a modern context. His books have reached a broad audience, often addressing pressing economic issues of their time. For instance, in 2010, following the global financial crisis, he published Capitalism Hits the Fan: The Global Economic Meltdown and What to Do About It, which was also released on DVD, making complex economic analysis accessible to a wider public grappling with the aftermath of the recession. This work provided a critical lens on the systemic failures of capitalism. Just two years later, in 2012, his prolific output continued with three new titles: Occupy the Economy: Challenging Capitalism, co-authored with David Barsamian (published by City Lights Books), which resonated deeply with the spirit of the Occupy movement; Contending Economic Theories: Neoclassical, Keynesian, and Marxian, a scholarly collaboration with Stephen Resnick (published by MIT University Press) that offers a comprehensive comparison of major economic paradigms; and Democracy at Work (published by Haymarket Books), which advocates for worker cooperatives as a more democratic and equitable economic model. His commitment to clarifying complex ideas continued into 2019 with the release of Understanding Marxism, further solidifying his role as a leading explicator of Marxian thought.

Public Engagement and Media Presence

Richard David Wolff isn't just an academic; he's a dedicated public intellectual committed to making economic understanding accessible to everyone. He hosts the weekly 30-minute program Economic Update, a critical initiative produced by the non-profit organization Democracy at Work, which he co-founded. This program serves as a vital resource for listeners seeking alternative perspectives on current economic events, reaching a broad audience through various platforms including YouTube, FreeSpeech TV, WBAI-FM in New York City (part of Pacifica Radio), CUNY TV (WNYE-DT3), and as a widely available podcast. His clear, articulate explanations of complex economic issues make him a sought-after commentator, leading to his regular features across television, print, and internet media. In recognition of his widespread influence and impact, The New York Times Magazine aptly named him "America's most prominent Marxist economist." Living in Manhattan, Wolff frequently collaborates with his wife, Harriet Fraad, a practicing psychotherapist, highlighting a shared intellectual and activist journey.

Frequently Asked Questions About Richard David Wolff

Who is Richard David Wolff?

Richard David Wolff is a prominent American Marxian economist, author, and public intellectual known for his work on economic methodology and class analysis. He is a Professor Emeritus of Economics at the University of Massachusetts Amherst and a Visiting Professor at The New School.

What are Richard David Wolff's main academic contributions?

Wolff is recognized for co-founding the journal Rethinking Marxism and for his extensive writings that critically analyze capitalism, advocate for worker co-operatives, and compare different economic theories, including neoclassical, Keynesian, and Marxian perspectives. His work emphasizes democratic workplaces and systemic critiques of economic crises.

When did Richard David Wolff begin his career as a published author and co-founder?

He co-founded the journal Rethinking Marxism in 1988, and his significant book publications began around 2010 with Capitalism Hits the Fan, followed by several other influential works in the years after.

What books is Richard David Wolff famous for?

Some of his most well-known books include Capitalism Hits the Fan: The Global Economic Meltdown and What to Do About It (2010), Occupy the Economy: Challenging Capitalism (2012), Contending Economic Theories: Neoclassical, Keynesian, and Marxian (2012), Democracy at Work (2012), and Understanding Marxism (2019).

What is Economic Update?

Economic Update is a weekly 30-minute program hosted by Richard David Wolff, produced by Democracy at Work. It provides critical analysis of current economic events from a Marxian perspective and is available on YouTube, FreeSpeech TV, WBAI-FM, CUNY TV, and as a podcast.

Is Richard David Wolff considered a prominent economist?

Yes, he is widely regarded as a significant voice in economics. The New York Times Magazine notably called him "America's most prominent Marxist economist," reflecting his extensive media presence and influence on public discourse.