Economic Update with Richard D. Wolff

By Democracy at Work, Richard D. Wolff

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Democracy at Work (d@w) is a non-profit (501C3) organization that conceives, creates, and distributes media aimed at demonstrating why, and how, democratizing the workplace is a viable solution for a new and better economic system.

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[S9 E46] Competition and Mo...

12.06.2019

This week’s special topic discusses capitalism's growing problems, such as inequalities, instabilities, and unsustainability. That leads some defenders to argue that the causes of these problems are monopolies displacing competition in many industries. We disagree: capitalism's history is oscillations between ...

Economic Update with Richard D. Wolff episodes:

12.06.2019 [S9 E46] Competition and Monopoly in Capitalism This week’s special topic discusses capitalism's growing problems, such as inequalities, instabilities, and unsustainability. That leads some defenders to argue that the causes of these problems are monopolies displacing competition in many industries. We disagree: capitalism's history is oscillations between ...
11.28.2019 Fascism: An Analysis for Today [REPEAT] This is a REPEAT episode. An in-depth analysis of fascism as massive government intervention to protect and save a crashing capitalism. We focus on today's examples, historical parallels (in Germany and Italy), and how "strong men" leaders push fascist agendas. ...
11.21.2019 [S9 E45] Teaching Economics: A Revolutionary Approach Updates on Sawant's victory in Seattle City Council election, the US obesity problem's costs and causes, critiquing libertarian arguments for capitalism. Interview Dr. Amy S. Cramer, Prof of Economics, Arizona, on her accessible education project "Voices on the Economy.
11.14.2019 Political Strategy for Transition Today's program discusses a political strategy for transition beyond capitalism to an economy based on democratic worker-cooperatives. The first half explores the history of how transition was achieved from feudalism to capitalism. The second half draws lessons from that history ...
11.07.2019 [S9 E43] U.S. "Profit-driven Medicine" Updates on Berlin, Germany's law freezing all rents for 5 years, overindebted corporations threaten world economy, prisoners' slave labor in Los Angeles, French inequality and yellow vests, Bernie's push to put workers on corporate boards. Interview with Dr. Michael Magee ...
10.31.2019 The Human Agenda Updates on costs of NBA offense to China, worsening global inequality, poverty mocks Nobel prize for 3 economists working on "incremental solutions" to poverty, why Google donated to global warming deniers, and latest crisis in defaults on US auto loans. ...
10.24.2019 The Capitalist Corporation This program examines the structure and functioning of the large capitalist corporation dominating modern economies. We discuss their basic economics and influence on politics. We criticize rationales for corporate profits such as "risks" and "entrepreneurship" and explore parallels between corporate ...
10.17.2019 Making Critical Arguments Updates on US housing crisis as systemic failure (the homeless LA opera singer), Greta Thunberg's critics exposed, Europeans gain from US-China trade war, Sackler family "donations" to museums, universities, capitalists take over Sports Illustrated. Interview on Left's critical arguments with ...
10.11.2019 Worker Co-ops, Socialism's Future On the first half of the show, Prof. Wolff focuses on how, why socialism has changed from what it meant in the 19th and 20th centuries (public enterprises + state planning vs capitalism's private enterprises + markets). The second half ...
10.03.2019 A Growing US Left Updates on California events (LA Times labor union, 80,000 Kaiser workers to strike, new state public banking law), gross inefficiency of private car industry, anti-left politics in US labor history, wide global use of wealth taxes vs "conservative" claims. Interview: ...
09.28.2019 Capitalism and Mental Health Updates on ICE raid in Mississippi, global comparisons of gun violence, conservatives on Dem's wealth tax ideas. Interview With Dr Harriet Fraad on how capitalism affects mental health in US."
09.19.2019 US Economy and the Market Analysis of the state of the US economy at summer's end, 2019: a decidedly mixed picture. Critique of the institution of the market that focuses on its structure, social effects, and particular beneficiaries: a counter to the imaginary "free market."
09.12.2019 Capitalism in Denial Updates on parallel declines of UK and US capitalisms; denials of their systemic problems worsens them. Longer segments on (1) political economy of immigration, and (2) why the basic problem of Central and South America is 2-3 centuries of capitalism ...
09.05.2019 Homelessness in the US Updates on politicians' "blame game" of scapegoating to avoid blaming capitalism, middle class squeezed by prices, limits of workers on corporate boards of directors, lessons from a courageous Puerto Rican people. Interview Rob Robinson, global advocate for the homeless.
08.29.2019 Socialism From Past to Future On this episode of Economic Update, Prof. Wolff begins with socialism's history especially in the US: from being widely discussed up to 1945, then repressed in the Cold War, and now vigorously revived since 2008. He then examines socialism's basic ...
08.22.2019 Injustice, Race and Class Updates on 3 deadly failures of capitalism, DOJ investigation of hi-tech monopolies, worker coops franchised, how income inequality breeds social inequalities. Interview with Bob Hennelly, investigating reporter on Garner, Epstein and Kushner cases.
08.15.2019 Working Class History and the 2020 Election This special program discusses how the history of the US working class shaped US politics. We start with how and why the 1930s Great Depression married the US working class to FDR's Democratic Party (New Deal Coalition). We end on ...
08.08.2019 Reparations and Forgiving Student Debts Updates on economics of 2 million home health aides, extreme Uber inequalities, Alaska universities 41% budget cuts, Michigan governor during Flint Water Crisis says his critics are "uncivil," a British district's labor party proposes a worker-coop sector to UK Parliament ...
08.01.2019 Win-win for Women's Soccer Updates on Trump as distraction vehicle, Macron's corruption, coffee price collapse drives immigrants to US, why rightists oppose free tuition and student loans, and why Trump/GOP do not stop jobs exodus from US. Interview Dr. Harriet Fraad on implications of ...
07.25.2019 A Socialist Politician Wins Depriving non-white students, fast food made worse for profit, Wayfair workers demand power, more scapegoating of immigrants, firms' promises of gain to workers from Trump 2017 tax cut proved false. Interview Lee Carter, elected socialist from 50th District to Virginia ...
07.18.2019 Economic Update: Socialism and Worker Co-ops 20th century socialism is now behind us. Socialists continued to evaluate both its achievements and failures via extensive self-criticism. A changed socialism has emerged, focused on a transition of workplaces from top-down hierarchical capitalist structures into democratic worker cooperatives. The ...
07.11.2019 Economic Update: Worker Coops Rising Updates on "regulatory capture" in the US vs EU, IMF report on the US economy today finds major negatives, and how Trump's desperation for re-election shapes his aggressive policies toward the Federal Reserve, China and Mexico. Interview with John Duda ...
07.04.2019 Economic Update: Is US Capitalism in Decline? On this episode of Economic Update, Prof. Wolff presents updates on inequalities in pay for CEOs vs average workers; economics of mega-mergers; billionaires' idea of "charity;" economic consequences of attacking Huawei Corp; Bernie leads on two new bills in Congress ...
06.27.2019 Economic Update: China's Economic Record and Strategy As follow-up to earlier parallel program on the USSR, this program seeks to offer (1) an overview of China's economic development mostly over the last 25 years (GDP, real wages, etc.), and (2) its economic strategy: learning but also differing ...
06.20.2019 Economic Update: Rise and Fall of the USSR In this episode of EU, Prof. Wolff tries to go beyond simplistic, sterile Cold War debates of demonizers vs celebrants of the USSR. USSR's strengths and weaknesses, successes and failures are examined from revolutionary beginnings in 1917 to its 1989 ...
06.13.2019 Economic Update: A New Labor Movement Rising Updates on US church membership and its tax subsidies, Toyota and Merkel slam US economic nationalism, 40 US states sue price-gouging pharma firms, Trump ("self-described "tariff man") does not understand that Americans pay all tariffs he imposes, Mothers' Day and ...
06.06.2019 Economic Update: 3 Basic Kinds of Socialism This program explains those differences among (1) the moderate or "democratic" socialism ( a la Scandinavia), (2) the communist kind of socialism (in the USSR and People's Republic of China, and (3) the new socialism focused on democratizing the work ...
05.31.2019 Economic Update: Understanding Marxism This special edition of "Economic Update" is devoted to Understanding Marxism, the title of a short new book just published by Democracyatwork. Today's program, like the book, explains Marxism's systemic insights into capitalism now. We discuss Marxism's basic criticisms of ...
05.23.2019 Economic Update: The Great American Purge The program begins by explaining the economics behind the great US anti-leftist purge (“McCarthyism”) after 1945. It then shows the economic impacts of that purge over the last half century. Finally, it explains how that history produced a very different ...
05.16.2019 Economic Update: Living in a Socialist Economy On this week's show, Prof. Wolff presents updates on the US "bribing for college admission" scandal, how lobbyists reflect and worsen inequality, So. and No. Carolina teachers strike for better education, how NDAs (non-disclosure agreements) reflect and worsen workplace inequalities ...
05.09.2019 Economic Update: Social Movement for Economic Democracy On this week's show, Prof. Wolff presents updates on 60 megacorps who paid no 2018 Federal taxes, GM's CEO gets $29.1 million while GM fires thousands, wrecks communities, etc., Notre Dame tragedy exposes French inequality as billionaires suddenly find money ...
05.02.2019 Economic Update: Lawyers vs. the System On this week's show, Prof. Wolff presents updates on US college students as share-croppers for investors, on conservatives' fake opposition to gov't intervention in the economy, on deepening inadequacy of retirement savings of US baby boomers, and on how fading ...
04.25.2019 Economic Update: Capitalism versus Socialism This over 200-year debate and struggle has become confused and confusing. Too many different definitions make honest, balanced discussions and evaluations of these alternative systems difficult. Because socialism is rising yet again to challenge capitalism, the debate now must take ...
04.18.2019 Economic Update: The #MeToo Movement Updates on Chicago in change, decline of world trade, New York's "congestion pricing, IMF on Trump trade war and hi-tech monopolies, 7 states sue Ag Dept over school lunch deregulations, Trump cautions audience "Don't underestimate "the power of socialism to ...
04.11.2019 Economic Update: Venezuela On this week's show, Prof. Wolff presents updates on Brexit and Mueller Report, Chicago is new site of labor upsurge, how income shapes education and thus "merit," why objections to Green New Deal and Medicare for All are mistaken, how ...
04.04.2019 Economic Update: Employer vs Employee: Capitalism's Endless Conflict Updates on LA strippers strike, Trump fails to end US trade deficit, UN reports on protests against capitalist inequality and gov't repression of those protests, GM closes Lordstown, Ohio factory with tragic social effects, Trump and FED reduce bank regulation ...
03.28.2019 Economic Update: Beyond Universal Basic Income In-depth analysis of UBI shows its advantages over most welfare, safety net systems. An even better alternative would avoid capitalism's unnecessary production of unemployment because it utilizes technical progress (rising productivity) for profits. The alternative benefits workers' leisure rather than ...
03.23.2019 Economic Update: Fascism: An Analysis for Today An in-depth analysis of fascism as massive government intervention to protect and save a crashing capitalism. We focus on today's examples, historical parallels (in Germany and Italy), and how "strong men" leaders push fascist agendas. We discuss how fascism and ...
03.14.2019 Economic Update: Political Activism's Revival Updates on International Women's Day, UC to make all research free, Cuomo begs and bribes Amazon again, US denounces UK protectionism, Spain = #1 healthiest country vs US at #35, how Trump/GOP raised taxes and thereby cut refunds. Interview with ...
03.07.2019 Economic Update: Renewing Labor's Movement Updates on striking Oakland school teachers, dangers of declining pensions, bank fined for helping clients evade taxes, in tariff war over black olives US vs EU, stagnant real wages in US explain rising inequality. Interview with Larry Williams, Jr., labor ...
02.28.2019 Economic Update: Fighting the System Updates on the economics of immigration, France's yellow vests join union-called general strike, demonstrations against Sackler family's profiting from oxycontin, and New York City Council considers giving priority to fast-food workers (majority) over employers (minority). Major discussions of: (1) successful ...
02.21.2019 Economic Update: Fantasy, Comedy, Tragedy: Delivering News Today Updates on million-person Communist demonstration in India, subsidized "development" by Foxconn and Amazon, merger making big banks bigger, delusion of "bringing back manufacturing" US. Interview with Lee Camp of "Redacted Tonight" on comedy, news and analysis.
02.14.2019 Economic Update: Economics of Conflicted Mothers Updates on the government shutdown's very important lessons, US teachers oppose a declining capitalism imposing its costs on the people, and firing the big banksters leaves our big bank problems unsolved. Interview with journalist Julianna Forlano on economic costs and ...
02.07.2019 Economic Update: Police and Policing in the US Updates on (1) the US public education crisis (teacher strikes, declining quality, insufficient resources) and how it undermines the US's economic future, (2) the absurdity of the government shutdown over an ineffective wall and a tiny portion of the government's ...
01.31.2019 Economic Update: Socialism From Past to Future On this episode of Economic Update, Prof. Wolff begins with socialism's history especially in the US: from being widely discussed up to 1945, then repressed in the Cold War, and now vigorously revived since 2008. He then examines socialism's basic ...
01.24.2019 Economic Update: Yellow Vests and Tax Reform Updates on "yellow vests" spread to UK, book Dying for a Paycheck, the bail-in scam, paying for airplane seat assignments, and postal banking. Major discussions of tax reforms needed and deserved and gentrification as a market injustice.
01.17.2019 Economic Update: Politicians Faking it Updates on Luxembourg making all public transport free, Europe evading US sanctions on Iran, Saudi Arabia sleaze deals with Trump, Deutsche Bank corruption massive, Pompeo's anti-China strategy contradicts Trump "nationalism." Interview with journalist Bob Hennelly on politicians betraying workers' and ...
01.10.2019 Economic Update: Ecosocialism Updates on New York City council votes minimum wage for ride-hailing drivers (Uber, Lyft, etc.), Trump store is 85% goods made abroad, charter school teachers strike in Chicago, contradictions in US-China trade war, VW ends gas car production in favor ...
01.03.2019 Economic Update: Capitalism - Slow-motion Implosion? Canada cuts corp tax cuts in race to bottom, Macron pleases business but outrages French people, Italy's new gov't budget provides for its people, Hillary Clinton joins right in scapegoating immigrants, and how "quantitative easing" policy after 2008 crash made ...
12.27.2018 Economic Update: Capitalism - Changed by its Contradictions Updates on poverty in California, childhood obesity in US, economic fallout from (real meaning of) Trump steel tariff. Prof Wolff responds to questions by explaining how US politics has sustained US capitalism and what the politics of change will require.

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