brilliant books including capitalism is crisis deepens essays on the global economic meltdown richard wolffe welcome back. thank you tom glad to be here greg always great having you with us i don't think i'm the only one who thinks that once the fed really starts unwinding their stimulus and you know as as you know they're starting to take stuff off the balance sheet now. the next crash might not be far off or at least the next say major market correction what are your thoughts on that. well i think they're very scared they're very worried we already know that from some of the minutes that are released after the fed meets that there's a division amongst them between those who think the economy is doing well enough that they can proceed to do just what you said to sell those assets they bought but there are others who are deeply worried that any move in that direction will speak the stock market as it has done before and will be a kind of signal that the easy massive cheap money that they have pumped into the system is now not going to be pumped in anymore and an economy that may have been on

we're joined by richard wolff, visiting professor at the new school. his name is richard wolff. professor, welcome. >> thank you very much. stuart: look, i'm a child of the 1960s. i went to the london school of economics which in those days was pure marxism. marxism went out of fashion. the word socialism went out of fashion. but i think it is back. why is it back? >> it es an old story. socialism is in a way the shadow of capitalism. nothing guaranties the future of socialism as much as capitalism because socialism is capitalism is self-crittism. every economic system has people love it and people that don't. they had a debate. we would have had it last 30 years if it weren't taboo, cold war, getting where we should have been, have a debate. strengths and weaknesses of capitalism, strengths and weaknesses of socialism. stuart: when i was studying marxism back in the 1960s we -- >> you survived. stuart: laws the die electric of history propelled us toward the inevitable prletarate revolution. do you that i the a revolution is around the corner america.

numerous books including capitalism is crisis deepens essays on the global economic meltdown richard wolffe welcome back thank you tom glad to be here again thanks for joining us professor i want to talk about three big policy plans tonight single payer health care free college and universal basic income let's start with single payer health care it's portrayed as radical in the mainstream media but isn't the existing american health care system the actually radical health care system. absolutely the american health care system is the outlier it's the own usual among advanced industrial countries to put it in the simplest way possible we americans pay out much larger share of our total income as a people for health care than any other advanced country even comes close to it and the irony is the results we have the quality of our health care the length of our lives the amount of time we spend on going to a hospital are very mediocre we're not the worst we're not the best but we don't get particularly good outcomes but we pay more than everybody else for the medical care we get if we weren't b