Economic Update - “Why Women Have Better Sex In Socialism”

30Jan

On this week's show, Prof. Wolff presents short updates on theEconomic Plans of the Biden administration and US economic inequality and why raising minimum wage to $15/hour is insufficient to deal with US economic inequality and its social consequences. The second half of the program features an interview with Kristen Ghodsee on women and the socialism vs capitalism debate.

Economic Update - “The Economics Lesson Taught by the Pandemic”

23Jan

On this week's show, Professor Wolff explains where the government is respected and empowered, nations have effectively contained the Covid-19 pandemic. He gives examples including New Zealand, Taiwan, South Korea, Cuba, Vietnam, and China. Alternately, where the government is demonized, disrespected, distrusted, the pandemic has been devastating. Examples of this include the UK and the US. Wolff argues that a rational economy includes both less and more government-regulated private enterprises plus state-owned and operated enterprises according to which performs best to meet society's needs. No fundamentalist "either/or" arguments are justified. Finally, he says how private and government enterprises are internally organized - hierarchical or alternatively democratic worker-co-op - is equally important.

 
 

Economic Update - Noam Chomsky on Prospects and Tasks as 2021 Begins

16Jan

This week, Professor Wolff gives updates on President-elect Biden's economic advisor "team", how Argentina's women's movement leads the defeat of the government and Roman Catholic Church oppositions to win legalized abortion and now targets other basic social changes, and how the deepening inequality of US wealth and income cause and reflect the growing gap between stock market prices and the depressed Main street US economy. The second half features an interview with Noam Chomsky on political and economic realities and possibilities facing us in 2021.

 
 

Economic Update - Externalities and Capitalism’s Inefficiencies

9Jan

 This program introduces the economic concept of "externalities." Those are the real costs of employers' business decisions that employers do not pay for or take into account: costs "external" to businesses' profit/loss calculations. Examples include costly damage to the environment, to employees' private lives, etc. Those real social costs are external and additional to capitalists' private costs. Therefore, capitalists' investment decisions based on comparing costs and revenues do NOT take into account the real, external costs. Thus their decisions are not "efficient." Capitalism never was the efficient system its apologists claim.

 
 

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