Economic Update

Economic Update: The Persistence of Socialism

In this week’s episode of Economic Update, Professor Wolff dives deep into why socialism remains a popular and successful economic system. Professor Wolff highlights new laws passed by the government of Spain that punish airline companies who employ 'unjustified' airline passenger fees. We then debunk the unsubstantiated and nonsensical myth we hear so often that: 'Socialism has never worked,' and finally we juxtapose the history of the last capitalist collapse (1930s Great Depression) when the US working class turned left versus the current crisis of US capitalism when the initial turn of the working class is to the right.

Economic Update: The US Capitalist Class and the Election

In this week’s episode of Economic Update, Professor Wolff discusses how US foreign aid serves the interests of corporations and their profits. We highlight how San Juan County in Washington state handled its fiscal crisis by cutting its employees' work week to 32 hours. We update you on workers of Wells Fargo Bank who are currently conducting a unionization drive, which could lead to other US banks doing the same. We provide a quick analysis of the history of settler colonialism in New Zealand and how this practice informs and influences the Israel and Palestinian crisis. Lastly, we interview Professors Michael Hillard and Richard McIntyre for a Marxian analysis of the exceptional nature of the US capitalist class and the US election.

Economic Update: The Dangers and Opportunities of Artificial Intelligence (AI)

On this week’s episode of Economic Update, Professor Wolff discusses how major pharmaceutical companies (CVS, United Healthcare, Cigna) are complicit in the opioid crisis in the United States. We highlight a successful food co-op in Minneapolis and explain the inauthenticity of mainstream discourse on the US economy. Finally an interview with Richard "RJ" Eskow, Bernie Sanders' speechwriter, an expert on AI and the basic social issues its spread now raises.

Economic Update: The Global Movement for Cooperatives:

 On this week’s episode of Economic Update, Professor Wolff discusses U.S. Universities and Politicians' repression of student protesters, the continued global demands of indigenous people for liberation from colonialism's legacies, and Harvard's corporate administration sacrificing its students' and faculty's freedom of expression to pander to some of its donors. Finally, Professor Wolff interviews Professor Jerome N. Warren, editor of the newly published Routledge Handbook of Cooperative Economics and Management.

Economic Update: The Economics of US Labor Struggles and Gaza

 In this week’s episode of Economic Update, Professor Wolff discusses the economic repercussions of Western sanctions and how the retaliations they provoke. We then turn to the latest labor strikes and wage & benefit gains achieved by unions at Boeing and East Coast dock workers. We highlight China's dominance of the global energy markets; and U.S. spending on military and police. Finally, we close with an economic analysis of Israel's ongoing violence in Gaza.

 

Economic Update: The Missing Economics of the 2024 US Presidential Election

 On this week’s episode of Economic Update, with the 2024 U.S. Presidential Election only 8 days away, Professor Richard Wolff explores the shared refusal of both major candidates and their parties to face and debate solutions to the grave problems facing US capitalism in 2024: (1) inequality, (2) instability and (3) a declining empire. Instead, we are witnessing both Trump and Harris compete to be the "cheerleader in chief" for capitalism. Missing from the discourse is a genuine opposition party that might dare to offer an alternative non-capitalist vision and solution to the system's deepening problems.

Economic Update: Puerto Rico Crises and Left Political Unity

 This week's Economic Updates focuses on CA Gov Newsom signs law banning "legacy and donor" favoritism in private college admissions to foster a "merit system," as well as analyzes the Milei regime in Argentina imposing austerity on Argentina: masses suffer to pay off debts that enriched the few in classic ways. Interview with economics Professor Ian Seda-Irizarry, City University of New York on conditions provoking rise of political left and left unity in Puerto Rico.

 

Economic Update: Flint: The Water Crisis Persists

On this week’s episode of Economic Update, Professor Richard Wolff discusses how FED Chair Jerome Powell admits capitalism's intrinsic instability, a Tennessee plastic plant won't let workers leave before storm Helene hits, we examine new drugs for obesity (Ozempic and Wegovy) which highlights the failures of for-profit medical care. Finally, we interview Jordan Chariton on his new book "We, the Poisoned: Exposing The Flint Water Crisis Cover-up and the Poisoning of 100,000".

Economic Update- Emergency Workplace Organizing Committee (EWOC)

On this week’s episode of Economic Update, Professor Richard Wolff discusses the modern political history in the United Kingdom as Conservatives protect UK corporations and the rich by employing 'distractions': first Brexit, and now Ukraine. We then turn to the latest worker uprising this time in Washington state, as workers at Boeing strike and demand better wages and benefits, and state government employees who are legally prohibited from striking are demanding better conditions as well by demanding better pay and conditions. We turn to the United Healthcare Corporation's latest profit-driven "pre-payment information" scheme, which disenfranchises people in need. Finally, in an interview with Eric Blanc, a founder of the Emergency Workplace Organizing Committee (EWOC) we discuss its phenomenal success in helping workers across the economy learn about organizing, and access to labor unions for help with forming unions.

 

Economic Update- Financializing Public Universities for Wall Street's Benefit

On this week’s episode of Economic Update, Professor Richard Wolff addresses the numerous requests for financial planning or investment advice that he receives from many of you. We touch on the truth about investing in the stock and/or bond markets. In addition, Professor Wolff offers a basic understanding of the economics of US capitalism's century-long, profit-driven failure to adequately provide housing to its people. Finally, an interview with Professors Eleni Schirmer and Sofya Aptekar about their new book "Lend and Rule" and their fight against the financialization of US public universities, and why it is so necessary.