Economic Update

Economic Update- Roots of a Surging US Labor Movement

 In this week’s Economic Update, Professor Richard Wolff discusses the reasons why the United States' current unemployment rate is low in comparison to historic rates; We also highlight why U.S. restaurants are losing business. We then turn to the hypocrisy of Treasury Secretary Janet Yellen in the face of the repression of the growing protest movement against Israeli policy in Gaza. In addition, we discuss Gabriel Zuckman's report on the economic impact of the dramatic cuts in taxes on billionaires vs rising taxes on the poorer half of the U.S. population. Finally, we Interview union activist Steve Early on rising labor militancy and unionization: its roots, momentum, and future.

 

 

Economic Update- New Energies Organizing Unions

Updates on US megabanks once again taking new off-the-books risks, Elon Musk endorsing right-wing undemocratic census proposals, oil industry execs in bribe-like talks with Trump, sample of many US and global labor unions and workers supporting and acting to end Israeli military actions in Gaza. Interview with Jaz Brisack and Casey Moore, organizers of Starbucks stores and of a new union organizing school.

Economic Update- Prospects for a Political Left Turn

On this week’s Economic Update, Professor Richard Wolff discusses the successful unionization drives that are sweeping across US universities (example: Boston University). We highlight the facts that disprove Biden's "great economy" claims and why inflation is much worse in the United States than in China. Finally, we have an exclusive interview with Jared Yates Sexton, writer and political analyst, on prospects for a left turn in US politics.

 

Economic Update- Uneven Development: a Key Problem of Capitalism

 In honor of Karl Marx's birthday over this past weekend, Professor Richard Wolff offers a discussion of Marx's important theory of uneven development as central to capitalism. We show its widespread existence, using examples of it from the past and present. We conclude by showing how uneven development is at the root of key social problems in capitalism

Economic Update- The Phenomenon of China

 On this week’s Economic Update, Professor Richard Wolff dedicates the entire show to the economic developmental achievements of China, together with the historical background that motivated these achievements. We analyze the uniqueness of both the economic philosophy and the politics of contemporary China.

Economic Update- A Critique of Government Spending

In this week’s Economic Update, Professor Richard Wolff devotes the program to understanding government spending, specifically how it shapes the larger society. We will focus on two questions 1) What is the government spending on? and 2) How is that money going to be used, and who benefits? If government spending only flows to capitalist corporations, they will use it to reproduce capitalism including its inequalities and injustices. This is a crucial impact of government spending but is rarely examined. The alternative - spending on worker coops - is explained and explored as a better alternative.

Economic Update- A Sea Change In US Labors' Militancy

In this week’s Economic Update Professor, Richard Wolff examines US spending on war materials for Ukraine and Israel, we will discuss Chinese Electric Vehicle imports and the US's protectionist response, and we will highlight the possible convergence of worker cooperatives as part of union negotiating strategies, and we discuss the impact of Harvard college workers vote overwhelmingly to join two unions. Finally, we Interview author and union organizer, Kim Kelly. Kim Kelly is a journalist, author, and third-generation union member based in Philadelphia. She is a regular contributor to Teen Vogue, In These Times, the Baffler, Rolling Stone, and many more, and her first book, FIGHT LIKE HELL: The Untold History of American Labor, is out now via One Signal/Simon & Schuster. 

Economic Update- The Myth of Black Buying Power

In this week’s Economic Update, Professor Richard Wolff discusses how the capitalist political economy can explain the Baltimore Bridge disaster and we then explain why raising minimum wages helps big vs small businesses. We highlight the recent court rulings in New York and how cities can lower rents for their citizens as Kingston, NY just did, (if tenants mobilize to do so). Finally, we have an Interview with Professor Jared A. Ball on the myths of black buying power and black capitalism and the role such myths play in supporting capitalism Jared A. Ball is a Professor of Communication and Africana Studies at Morgan State University in Baltimore, MD. and author of The Myth and Propaganda of Black Buying Power. Ball is also host of the podcast “iMiXWHATiLiKE!” and co-founder of Black Power Media.

Economic Update- Resurgent Labor Organizing In The South

On this week’s Economic Update, Professor Richard Wolff discusses the US Treasury Department's charge against Apple as a monopoly, Georgia's state government siding openly with employers against unions, two union members deciding to enter important elections as independent voices in Nebraska and West Virginia, and a critique of the FED's policy that keeps inflation and interest rates high. Finally, we interview Mike Elk, publisher of the Payday Report, on his views regarding the important UAW fight for union recognition at a VW plant in Chattanooga, TN.

Economic Update- Capitalism Distributes Power

This week features updates on resurging child labor in the US, college athletes voting to join unions, and unionization sweeping not-for-profit charities (hospitals, museums, etc) such as MassMoca in western Massachusetts. We will also have a major discussion of how capitalism concentrates power in mass media (including social media), in authoritarian internal structures of corporations, and via donations and other controls exercised over the two major political parties and over politicians.