On this week's show, Prof. Wolff presents updates on the 'Social Progress Index" and US capitalism's decline; how most young Americans, 18-29, now live with their parents; Argentina's debts are cut in half; and lastly, why most of the US economy is now on welfare. The second half of the show features a major discussion of a social transition beyond capitalism.
On this week's show, Prof. Wolff presents updates on why the FED monetary policy dominates the US; fatal flaws of eviction moratorium; luxury, fashion centers shift to China despite US anti-China policies; and the unnecessary crisis of US restaurants. On the second half of the show, Wolff interviews sports journalist Dave Zirin on historic strikes of US professional athletes.
On this week's all new Economic Update, Prof. Wolff discusses the Federal Reserve's pro-inflation policy's causes and effects, professional athletes and "dual power," more state-monopoly capitalism in the US, and Denmark vs US on Covid-19 battle. On the second half of the show, Prof. Wolff interviews journalist Bob Hennelly on the US labor crisis.
On this week's Economic Update, Prof. Wolff discusses the following: Denmark's new taxes on banks and rich people to help workers doing dangerous jobs; West Virginia AG sues Walmart and CVS for complicity in opioid scandal; and US State Department urges universities to sell shares in Chinese corporations. On the second half of the show, Prof. Wolff interviews author and journalist Chris Hedges on signs of the declining US empire.
On this week's episode, Prof. Wolff talks about the Chinese economy. China is run by a Communist Party but describes itself as socialist, while the employer/employee structure of its enterprises is capitalist. We examine what this means for (a) its place in the world economy, (b) its place in the transition from capitalism to socialism/communism, and (c) its conflict with the US.
Defenders of capitalism chose a poor definition because that made it much easier to defend capitalism. A much better, clearer definition was and is available. But it exposes capitalism to profound criticisms.
On this week's show, Prof. Wolff discusses the following: the US is a poor place to raise kids according to a recent Forbes' magazine article, the collapsing restaurant industry, eviction policy (France vs US), Bugatti cars for very rich kids, and Pfizer CEO wants big profits from Covid-19 vaccine. On the second half of the show, Prof. Wolff talks with former Goldman Sachs banker Nomi Prins on how the Fed rigs US money supply in disastrous ways.
On this week's show, Prof. Wolff discusses corruption of public workers' pensions, capitalist contracts displaced by legal fights, Canada's COVID-19 record vs US, retail apocalypse deepens, and Bezos vs 50 homeless people in Pittsfield. On the second half of the show, Prof. Wolff interviews economist and former UN Assistant Secretary General, Jomo Kwame Sundaram.
On this week's episode, Prof. Wolff presents the following updates: company cutting candybar size but keeping the same price, Barcelona punishes landlords with empty apartments, Macy's closing stores while giving $millions bonuses to top executives, IMF anti-Covid-19 funds used instead to pay off private loans, health insurer profits because people cannot afford and fear doctor and hospital visits, Amazon profits from pandemic. On the second half of the show, Prof. Wolff interviews epidemiologist Rob Wallace on capitalist agriculture and viral pandemics.
Throughout capitalism's history, the big topic in economics was how far the government should intervene in the economy. Conservatives wanted minimum intervention while liberals and socialists wanted much more. In fact, government intervention mostly aimed at saving, protecting, supporting capitalism. The genuinely "great debate" could and should have been about the strengths and weaknesses of capitalism versus those of a real alternative system, socialism.
