Richard Wolff on Public Debt, Printing Money and How Governments Pay for Wars

In this educational video Richard Wolff, a University of Massachusetts professor of economics emeritus, Marxist economist and founder of Democracy at Work, defines public debt and explains the process of printing money. Professor Wolff also talks about the role that corporate banks play in this system as well as how politicians exploit the mechanism of money printing in order to garner political capital or justify going to wars.

To view the educational playlist with Richard D. Wolff, click here.