Economic Update

Economic Update- Breaking Up With Capitalism

This week's episode of Economic Update hosted by Professor Richard Wolff, we discuss the Philadelphia University of the Arts Faculty Union and its struggles; we clarify what declining inflation does and does not mean; we answer the question: as to why sanctions fail. Finally we interview Essence Magazine's senior news & politics editor, author, and lawyer Malaika Jabali. We discuss her newly released book "It's Not You Its Capitalism".

Economic Update- Capitalism and Tax Injustice

 In this week's episode of Economic Update hosted by Professor Richard Wolff, we discuss Germany's recession, California fast-food workers unionizing, how the war in Ukraine boosts the US stock market and corporate stock holdings, while hurting most wage/salary incomes. In addition we ask what lessons from the protest/revolt of European farmers? Finally, the ongoing exposing of major injustices of the US federal tax system (tax exemptions for schools, churches, hospitals, and charities and social security's flat tax system). 

Economic Update- The U.S. Tax System: Designed For Economic Injustice

  In the latest episode of "Economic Update," Professor Richard Wolff takes us through a comprehensive exploration of pressing economic issues. From the evolving dynamics of remote work and corporate demands to the intricate economics of the Ukraine conflict, and the ripple effects of anti-Chinese sentiment in the US economy. The episode culminates with a critical look at the inherent injustices within the US tax system.

Economic Update- The U.S. Economy As An Apartheid System

This week's episode of Economic Update hosted by Professor Richard Wolff, we will be discussing the continuing decline of US manufacturing; a 29,000 person strike at California State Univ.; the Houthis disrupt Red Sea shipping in move against Israel; and Texas refuses to obey US federal government's rules in struggle over immigration and white supremacy. In addition we have a special Interview with leading economist Prof. Michael Hudson on basic crises facing US capitalism.

Economic Update- U.S. Capitalism At The Crossroads

This week's updates are divided into two parts.  Part A: the special dimensions and qualities of the US labor movement's current dynamism, Piketty shows capitalism generates widening wealth and income gaps leading to crashes or else simmering, divisive, domestic resentments. The system itself becomes destabilized. It can then lurch to the left as happened via The New Deal in the USA or right as in Nazi Germany, Italy and Spain (fascism). Both movements advocated gov 't intervention to stabilize capitalism: one left, one right. The left worked via massive supports to working people (minimum wages, gov't jobs, social security, etc.). The right went to try forced labor, anti-immigrant efforts, demonizing immigrants to support employers. Turns right have their parallels now: Brexit, Trump, Milei (Argentina) and Miloni in Italy. The big question: since all the rightward moves failed and sent Germany, Italy and Spain over into social democracy." Will their behavior be equalled again?"

 

Economic Update- As The Empire Crumbles

 This week's updates include:  information on the closing Greyhound bus stations, miscalculating strengths of Russian obstacle in Ukraine, UK empire cannot afford both Yemen bombs and National Health Service, Boeing aircraft safety debacle enables Chinese export leadership in global auto trade, Israel's caught also in the shifts and changes of the world economy as US dominance declines.

 

Economic Update- Corporations Vs. Democracy

 In this week's show, Prof. Wolff analyzes the corporation. It stands as a basic institution blocking real democracy in our society. The corporation's structure and operations empower and enrich a tiny social minority at the expense of the people's wealth and democratic power. Like the critiques of slave plantations and feudal manors that preceded the disappearance of those systems, the growing critique of capitalism reflects but also informs critical social movements now.

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.