Economic Update

Economic Update- US-China Decoupling Myth

The so-called "decoupling" of the US and Chinese economies is NOT happening. Their economies are too deeply intertwined. The reality hidden by "decoupling" is just capitalism's usual uneven development. Capitalism relocated investment away from its old centers (Western Europe, North America and Japan) to China, India, Brazil et al. The US cannot stop or reverse that process any more than Britain could stop or reverse it in the 18th and 19th centuries. Wars fail or worse. The only real option is mutual accommodation.

Economic Update- Center Cannot Hold

This program begins by analyzing the political monopoly (aka "The Center") operated by the GOP and Dems in the US: its organization and dominance until the last few years. The monopoly deteriorates as both GOP and Dem coalitions suffer splits and cracks opening opportunities for radical political shifts and perhaps new parties. The context of a declining US capitalism facing mounting unsolved social problems adds to the winds of change as do pressures to resort to repression. Wolff affirms that the Center cannot hold. 

Economic Update-The Ripple Effects of Labor’s 2023 Rise

In this, the last episode of Economic Update for the year, Prof. Wolff presents updates on the Yale graduate & professional students’ union’s recent victory, how the writers/actors strike impacted the labor movement with a show of solidarity, Starbucks loses fight with its workers’ unionization, the National Institutes of Health votes to unionize and fight legal barriers to unionization, the British unions fighting its Conservative gov't, and the turning of the U.S. Labor Movement from reform vs revolution to reform + revolution. 

 

Economic Update- FACING THE HUMAN RIGHTS CRISIS

Updates included analysis of Philadelphia extreme income inequality, US strikers per year since 2017, UAW organizing strike at VW plant in Tennessee plus other UAW unionization drives, 400,000 Quebec public employees on strike heading towards general strike. Interview Rob Robinson, formerly homeless advocate/fighter for homeless rights, housing, official of Human Rights network

 

Economic Update: Politics, Economics & Chocolate: Capitalism’s Flaws & Failures

This week's episode of "Economic Update with Richard Wolff" features updates on the economic crises in Argentina and Germany, the graduate student unionization wave happening across U.S., how & where the chocolate industry is using child labor, a critical analysis of what "profit" means and a departed Kissinger.

Economic Update: The U.S. Military Machine & What It Costs

Updates on Tesla vs the Swedish Unions, a teachers strike in Portland, Oregon, "food insecurity" in U.S. today, how the King of Britain has been secretly profiting from assets of the dead and a Michigan "entrepreneur" fails in effort to buy electoral defeat of Rachid Tlaib. In the second part of this week’s episode, Prof. Wolff interviews Norman Solomon on his latest book, War Made invisible: How America Hides the Human Toll of its Military Machine.

 

Economic Update: AMERICAN’S SELF-IMAGE VS REALITY

Updates on closing Florida plant that should be converted to worker coop, oil company profits versus social damage they do, megacorps (Walmart, Amazon) take over grocery business, social purpose of what "middle class" means. Interview Jared Yates Sexton on his book and other writings on how the US practices social control by spinning stories."

Economic Update- WHEN LABOR MOVEMENTS RISE

Updates on the U.K.'s King Charles in Africa, the unionization struggles at Starbucks, a growing strike against Musk’s Tesla and the Bangladeshi women’s labor strike. An analysis of the economic concept of "surplus" and how capitalism makes it possible. 

Economic Update- Inequality Undermines Health & Healthcare in the U.S.

Updates on risks to UAW strike victories, realtors fined for collusion on real estate commissions, Bangladeshi strikes for higher minimum wages for clothing workers, China outmaneuvers Malaysia and US in rubber glove business, UN vote isolates US, Israel, Ukraine over Cuba embargo. Interview with Dr. Stephen Bezruchka on how economic inequality connects to stress, health problems, and inadequate healthcare.

Economic Update- Social & Labor Movements Claim Real Victories

Update on Nobel Prize in economics to Harvard Prof. Claudia Goldin; comment on Main/Halloween shootings, global financial secrecy index, Biden's money for wars. Major segments on (i) UAW strike victories at Ford, GM, Stellantis, and (ii) abortion access victory in France.