Economic Update

Economic Update - 20 Years after 9/11, US is still a Stuck Nation

On this week's show, Prof. Wolff presents updates on Alabama miners' strike, how China's focus on reducing inequality affects competition with the US, and the economics of the "right to repair" consumers' movement in the US. The second half of the show features an interview with investigative reporter Bob Hennelly, author of Stuck Nation: Can the United States Change Course on Our History of Choosing Profits Over People?

 

 

Economic Update - Extremes of Rich/Poor in US Capitalism

 This week on Economic Update, Prof. Wolff discusses the new US program for monthly child benefits; why Covid strengthens some and divides other nations; the myth of "labor shortage;" the real cost of ultra-luxury cruises; Uber and sexual assaults; and lastly, the outsized US costs of healthcare.

Economic Update - Liberating Technology from Capitalism

On this week's show, Prof. Wolff provides updates on two small labor victories (Vermont's AFL-CIO and 4000 pork-processing meat cutters in Sioux Falls), how global capitalism became even more unequal during the pandemic, Iceland's move to the 4-day work week, US students hobbled by debt, and why "labor shortage" is actually class war. On the second half of the show, Wolff interviews Wendy Liu, author of "Abolish Silicon Valley: How to Liberate Technology from Capitalism."

 

 

Economic Update - Chile's Feminist Social Revolution

On this week's show, Prof. Wolff discusses the election of a socialist, African-American woman as new mayor in Buffalo, NY; US unemployment insurance's meager support for jobless; Teamsters target Amazon workers for union drive; veterans' suicides and the costs of US wars. On the second half of the show, Wolff interviews Rodrigo Roa Fernandez, Chilean revolutionary activist on his country's new feminist movement, Constituent Assembly, and new Constitution.

 

 

Economic Update - A US Left Rises to Remake the World

On this week's show, Prof. Wolff presents updates on "The Friends" reunion and what it teaches, how China outmaneuvers US tariffs, etc., and how Yellow Vests plus French unions defeated Macron "reforms." On the second half of the program, Wolff interviews Astra Taylor, filmmaker and debt rebellion activist.

 

 

Economic Update - Best Years of US Lie in its Past

 On this week's show, Prof. Wolff talks about Chipotle Mexican Grill blaming its price increases on its workers, economist Arthur Laffer's claims that many poor, minority workers are "not worth $15/hour." and false claims that lower taxes help economic growth while higher taxes hurt it. On the second half of the program, Wolff interviews August H. Nimtz, Jr. on today's crisis of a declining US capitalism, its impacts and implications.

Economic Update - Capitalism's Shrinking Popularity

On this week's show, Prof. Wolff discusses French voters abstaining (66%), and rejecting party establishments in the face of social crisis; Seattle City Council helps tenants with law changes as conservatives seek to recall progressive Council leader Sawan; growing US economic inequality cuts mass consumption and thus hurts US economy; June 2021 polls show capitalism losing, socialism gaining among US adults including Republicans; Washington Post columnist seeks to ban billionaires as bad for society.

Economic Update - The Challenge of Progressive Unionism.

 On this week's show, Prof. Wolff discusses Wall Street money corrupting US elections and the facts of a declining US capitalism (wage stagnation driving inequality, rising health and education costs, falling real social security benefits, unequal wealth of people of color vs whites, gross worsening of US income and wealth inequalities). On the second half of the show, Prof. Wolff is joined by David Van Deusen, President of Vermont state AFL-CIO, to talk about the victories of progressive unionism.

Economic Update - Inflation and Labor Shortage

On this week's show, Prof Wolff talks about the social effects of inflation and the lack of accountability on the part of employers. Capitalist employers set prices with the only motive of maximizing. Employees, the vast majority, must live with inflation but are excluded from decisions setting prices. Employers scream “labor shortage” to get the government to force workers back to work at low wages. Employers recover from economic crashes but undercut workers’ efforts to do the same. How capitalism works.

 

 

Economic Update - The Three Basic Kinds Of Socialism

As ever more people become anti-capitalist and look toward socialist alternatives, it is important to grasp key differences among the alternative 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 workplace. Doing better than capitalism will require deciding which of these three kinds of "socialism" (or what combination of them) will be the better economic structure.