There’s plenty of talk about why the economy is the way it is, and certainly the state of the economy. But, perhaps, we should ask, how can the economy be fixed? Well, I have just been informed of how the economy can be fixed…
I’m current;y taking an Economic Geography course at the University of Massachusetts Amherst. For one class, we listened to Professor emeritus of economics at UMass Richard Wolff.
He said, the economic crisis occurred as a result of a structural problem between production and wages.
Below are my notes. I hope they help people understand the economic crisis and how it can be fixed or even prevented.