Economic Update

Economic Update- Capitalism’s Costly Contradictions

This week's show brings updates on the real US unemployment problem, discusses how the US Congress betrays students on the student debt crisis.  It also details how huge majorities polled support US teachers with increased teachers pay, teachers' freedoms to teach about race, and teachers'  power vs boards of education and state governors, as well as discussing the importance of the ILWU strike shutting down west coast seaports. The second half of the show features major discussions of capitalism's contradictions around (1) capitalists forever "saving on labor costs,"and (2) capitalists cel;ebrating self-correcting markets.

Economic Update- Germany, US, China: a Stressed Global Economy

This week's updates focus on the German recession, deadly drug wholesalers, and immigrants in the US labor force, as well as oil and gas profiteers.  In the latter half of the show the economic facts on China's economic reality will be discussed and the origin and source of profits in Marxian economic theory will be detailed.

Economic Update- The Banking Crisis Demystified

This week's Economic Update focuses on the merger of collapsed First Republic Bank and JP Morgan Chase bank, making a "too big to fail" bank even bigger,  and the cost of FDIC bank bailouts and mergers.  We also present the timeline of policies leading to bank crises and give a brief history of government failures to supervise private banks. 

Economic Update- The ”Great Debate” that Wasn’t

Throughout capitalism's history, the big topic in economics was how far the government should intervene in the economy. Conservatives wanted minimum intervention while liberals and socialists wanted much more. In fact, government intervention mostly aimed at saving, protecting, supporting capitalism. The genuinely "great debate" could and should have been about the strengths and weaknesses of capitalism versus those of a real alternative system, socialism. 

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 - Public Banking: Solving the Private Banking Mess

In this week’s show, Prof. Wolff presents updates on the abortion pill fight and drug firms' profiteering, stunning wage gains (of $7.50/hour) won by hotel workers' unions, US real wages fell March '22-March, racism and empty boasts in Tennessee. In the second half of the show, Wolff interviews Ellen Brown, Chair of Public Banking Institute, on the failures of US banks and the monetary system.

Economic Update - Varoufakis’ Critique of Capitalism Today

Yanis Varoufakis, elected member Greek parliament, joins the program and offers his original, critical perspectives on (1) the banking crisis, (2) the decline of the US empire and US capitalism, (3) the mass uprisings of the French and Greek working classes in Europe, (4) the collapse of Europe's efforts to shape an independent (from the US and China) economic position, and (5) class struggle inside China.

Economic Update - ”Today’s Medicare for All Battle with Dr. William Bronston”

In this week’s show, Prof. Wolff discusses US deaths from Covid, poverty in the US labor force, US and Canada cooperate against immigrants, US warfare vs China's peacemaking, Amazon profits from cutting back on "free" shipping. In the second half of the show, Wolff interviews Dr. William Bronston, advocate for single-payer health care in the US.

 

 

Economic Update - ”When We Put People First in US Politics.”

In this week’s show, Prof. Wolff presents updates on the failures of GOP and Democrats to face or solve major crises; layoffs and stock buybacks by US hi-tech companies; a new study of "food insecurity" in LA county. The second half of the show is dedicated to a discussion of how US history of the 1920s and 1930s shows the possibility of a progressive political shift and upsurge in the US today.

 

 

Economic Update - The Marxist Tradition

In this week’s show, Prof. Wolff discusses the history and diversity of Marxist theories and practices that comprise the Marxist tradition. Wolff also explores why Marxism draws renewed interest globally now. Finally, a detailed examination shows how some basic insights from Marx's work are especially relevant to victims and critics of today's capitalism and especially to those who seek transition to another, better system.