|Rick Wolff & Jeff Madrick: US Economy is Still Broken|
Laura Flanders - GRITtv
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December 23, 2010
"The American people were pioneers again, not by going west but by going into debt," says economist Rick Wolff of the last 30 years of our economy. While wages stayed low and infrastructure, education and energy investments bottomed out, Americans leveraged everything on credit cards and loans to keep afloat. And now, despite record Wall Street bonuses and holiday shopping, the economy is still built on fundamental flaws.
Rick Wolff and Jeff Madrick join us in studio for a year-end conversation about the economy - looking forward to 2011, what can we expect? And more importantly, what will it take to really change the shaky foundations on which our economy rests?