Wolff Responds: The Crime & Punishment of Corporate Debt
August 6, 2020
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Wolff Responds is a @Democracy At Work production. We provide these videos free of ads. Please consider supporting our work. Visit our website democracyatwork.info/donate or join our growing Patreon community and support Global Capitalism Live Economic Update with Richard D. Wolff at
In this short video, Prof. Wolff talks about the borrowing by corporations at record pace for the last 20 years. But what happens when an economic crash makes it difficult for companies to pay back the loans? He argues that corporate debt is a scam: it moves wealth in the direction of the few who need it the least, by squeezing it out of those who can afford it least. Prof. Wolff also offers the example of Argentina and its struggles to pay back the massive debt it has accumulated.
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