Chestertown, MD — In these uncertain economic times, everyone can use some sound investment advice—and one of the nation's foremost economic theorists is coming to Washington College to make a special presentation. Richard D. Wolff, Ph.D., Professor of Economics at the University of Massachusetts-Amherst, will offer valuable insights on the Wall Street meltdown, the governmental bailout, and what we can expect in the near future, when he presents a talk at the Norman James Theatre on Tuesday, October 14, at 4:30 p.m.
In addition to explaining the current financial crisis and exploring its ramifications, Dr. Wolff will also discuss "Why Social Investing? The Point, the Pitfalls and the Possibilities." Social investing, also known as ethical investing, is defined as "limiting one's investment alternatives to securities of firms whose products or actions are considered socially acceptable." (A simple example would be an investor who disapproves of tobacco not investing in companies engaged in the manufacture of tobacco products.) While social investing may "have its heart in the right place," the common fear is: Will performance be sacrificed for the sake of ideology?
The answer, refreshingly, is no. Mixing money and ethics is not lethal to one's financial health—provided sound investment strategies are employed. Dr. Wolff will offer illuminating advice on how to make social investing a viable route, even in the current risky climate.
After graduating magna cum laude from Harvard University, Wolff went on to earn three master's degrees in economics and history from Stanford and Yale Universities, then earned his Ph.D. in economics from Yale. He taught at the City College of New York from 1969 to 1973, then began teaching at the Economics Department of the University of Massachusetts-Amherst, where he has been full professor since 1981.
Wolff has had a long and productive collaboration with fellow economist Stephen A. Resnick. The two have jointly published numerous articles and books on such topics as Marxian theory, radical economics, international trade, business cycles, social formations, the Soviet Union, and comparing and contrasting Marxian and non-Marxian economic theories.
In 1989, Wolff joined efforts with a group of colleagues and students to launch Rethinking Marxism, an academic journal that aims to create a platform for rethinking and developing Marxian concepts and theories within economics as well as other fields of social inquiry. He continues to serve as a member of both the editorial and the advisory boards of the journal.
Wolff has authored and co-authored numerous books including The Economics of Colonialism, Economics: Marxian versus Neoclassical, New Departures in Marxian Theory, Class Theory and History, and Bringing It All Back Home: Class, Gender & Power in the Modern Household, among other works.
His October 14 lecture at Washington College is being presented by Omicron Delta Epsilon,The Goldstein Program in Public Affairs, and the Campus Events and Visitors Committee. Admission to "Why Social Investing? The Point, the Pitfalls and the Possibilities" is free and open to the public.
October 1, 2008