Economic Update

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.  

 

Economic Update- Capitalism Versus Democracy

On this week's show, Prof. Wolff presents an analysis of how and why capitalism is an undemocratic economic system. The first half is devoted to the micro-level, namely to the organization of the enterprise (factory, office or store). Its undemocratic character is exposed using examples and empirical evidence. The second half has a macro-level focus that shows how capitalism's generation of growing income and wealth inequality impels the employer class (a small numerical minority) to use their money politically. Their practice undermines real democracy leaving only its empty forms.

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Economic Update- How US Capitalism Uses Nationalism

From 1945 to 1990 we were told a great struggle pitted capitalism against socialism/communism (chiefly the USSR and China). Yet still today, US leaders demonize Russia and China despite the end of communism in the USSR and a huge growth of capitalist enterprises in China. The explanation lies in US capitalism's long history of using nationalism (i.e. foreign dangers) to justify tax-payer funded government actions to protect, subsidize, and support major capitalists' dominant position in the US economy.

 

Economic Update- Today’s Agents of Change: Strikes, Unionization & Labor Militancy

Updates on how Social Security makes African-Americans subsidize whites, lessons from a new survey of young Americans' politics, the injustice of Europe's central bank raising its interest rates, Taylor Swift publicly supports Hollywood strikers, and Coco Gauff publicly supports climate change activists. Interview Mike Elk, Editor of The Payday Report, tracking the strike wave across America and especially the huge autoworker's strike.

Economic Update- Corporate Greed VS Labor: The Struggle Intensifies

Updates on writers (WGA) strike, auto-workers (UAW) strike, failure of US Federal Reserve, US govt subsidizes private capitalists. Interview Pete Dolack on his new book "What Do We Need Bosses For? Toward Economic Democracy"

Economic Update- What Socialism Needs

Discussion of (1) the crisis of today's real left; (2) the need to acknowledge, build upon, but also go well beyond the successful socialisms of the 19th and 20th centuries; (3) the macro focus on the state and the omission of a microfocus on the workplace; and (4) democratizing workplaces as 'what is to be done'.

 

Economic Update- Marxism’s Ongoing Relevance

After clearing away the Cold War debris that blocked discussion of Marxism's insights since 1945, we focus on Marxism's core contribution to (1) thinking about and (2) changing modern capitalist society. That contribution is class structure and class struggle. Marxism explores how class struggle exists in capitalism, how it influences all of social life, and how it changes over time. Marxism also envisions the end of class struggles as its social change goal now. 

Economic Update- Socialism and Worker Co-ops

 20th century socialism is now behind us. Socialists continued to evaluate both its achievements and failures via extensive self-criticism. A changed socialism has emerged, focused on a transition of workplaces from top-down hierarchical capitalist structures into democratic worker cooperatives. The powerful appeal of worker coops as grounding a new 21st century socialism is presented.  

Economic Update- Private Profits VS. Public Treasure - Saving The Redwoods

Updates on successful unionization drive against Starbucks' anti-union campaign, UK universities go to 3-day schedule so students can take jobs the other 3-4 days (fallout from a failing capitalism), UAW union prepares for strike against Ford, GM and Stellantis with Detroit community solidarity. Interview Eleanor Goldfield about her new film To The Trees exposing struggle: profiteers vs people protecting giant redwood forests.

Economic Update-Profit & Inequality: Two Driving Forces of Capitalism

Updates on economists favoring rent control, leading global capitalists resent/resist US China-bashing, urgent drug shortages in US and a public pharma industry.  Major discussion of causes of rising US economic inequality since the 1960s and its socially explosive political effects.