Economic Update: Recent Episodes
Progressive Radio Network
On this week’s episode of Economic Update, Professor Wolff delivers updates on the blow back to Iowa Senator Joni Ernst’s rationalization of budget cuts to Medicaid to help fund tax cuts for corporations and the rich, 8,000 Connecticut healthcare workers win contract gains by threatening to strike, and how the advertising industry spawned by capitalism distorts and corrupts human communication. The show's second half features an interview with UC-Berkeley Professor Arlie Hochschild on the reasons why Trump's political base continues to support him.
This week's Economic Update looks at how US production of wheel-barrows moved to China, and how the U.S. is adopting a Cold War mentality against China. Also discussed are the socioeconomic effects of US federal workers' being fired, as well as how tariffs alone won't reshore manufacturing. Professor Wolff then delves into the declines in US coal mining, in sales of US McDonald's hamburgers, along with commentary of the economic decline in Europe.
This week on Economic Update, Professor Wolff delivers updates on Trump’s cuts to school mental health counsellors, the mass strike in LA County, why China is better positioned for a trade war with the U.S., and how profit is what drove corporate decisions to relocate U.S. factories overseas thereby making the US economy vulnerable to long, global supply lines.
This week on Economic Update, Professor Wolff begins by presenting updates on the death of libertarianism and the rise of US economic nationalism, and US universities are becoming big businesses, governed by money concerns. In this episode's second half, Professor Wolff interviews Professor Geert Dhondt, the Chair of the Economics Department and Economics Professor at John Jay College of the City University of New York, on how colleges and universities are reacting to Trump's attack on higher education.
Wolff begins this week on Economic Update by analyzing the choice between reform and revolution through two historical discussions: the anti-slavery fight in the mid-19th century and the anti-Depression fight in the U.S. during the 1930s. He then explains the stakes in choosing reform or revolution as goals for social change and outlines how and why both options are now back on the working class's agenda in the U.S. He concludes the discussion by suggesting that revolution is the necessary guarantor of the duration of reforms in the U.S., offering an alternative perspective to consider when choosing reform over revolution.
This week's Economic Update focuses on Trump's attacks on Harvard, Trump's "antisemitism" maneuver against educational institutions, and US universities becoming ever more " business-like." as well as looking into the economics of US dollar depreciation since Jan 20, 2025. Also featured is an interview with Mr Rob Robinson, to be awarded an honorary doctorate from the City University of New York at its Commencement, June 10, 2025, recognizing his multiple contributions to fighting homelessness and inadequate housing in the US.
This week on Economic Update, Professor Wolff delivers updates on the Kaiser Permanente mental health workers' strike unfolding in California and the function of tariffs as an economic weapon that also undermines the living standards of U.S. workers. In the second half of the show, Professor Wolff sits down with Kali Akuno, co-founder and co-director of Cooperation Jackson, to discuss Trump’s controversial "restoration" agenda and the growing resistance against it.
In this week's episode of Economic Update, Professor Wolff speaks on employers blocking, delaying, and opposing improvements on general social welfare, highlights how Trump ends "affirmative action" for veterans (including those disabled) and remarks on how tariffs worsen uncertainty with seriously negative consequences. In the second half of the show, Professors Maliha Safri and Stephen Healy, co-authors of the new book Solidarity Cities: Confronting Racial Capitalism, Mapping Transformation are interviewed.
In this week's episode of Economic Update, Professor Wolff critiques the DOGE practice of firing federal civilian employees, analyzes the Trump tariff program, and shows how both are presented as ways to solve deep economic problems in the U.S. but are actually an assault on the working class. The second part of the show features an interview with David Van Deusen, the former head of the Vermont state AFL-CIO and now an organizer of union-based resistance to the Trump program.--
This week's edition of Economic Update explores the last 150 years of largely uncritical celebration of "the market," as if it were a perfect institution that must be protected from intrusion of other institutions such as the government, labor unions, and popular organizations. We compare an historical example and also the present to criticize today's peculiar mix of market idolatry and its rejection in the US.
In this week's episode of Economic Update, Professor Wolff discusses certain minimum wages by the Trump administration, the costs of Germany's rearmament, and how Trump's tariffs and deportations have hit central America with economic catastrophe. The second half features a detailed discussion of the historical blaming of foreigners for the internal problems of capitalism in the U.S.
In this week's episode of Economic Update, Professor Wolff discusses how Marx's class analysis presents a solution to today's inequality and the challenges to overcoming it we have faced throughout history. In short, since the early existence of human society, people lived in tribes, clans, and villages that exhibited equality of wealth, income, and political power among their members. As modern history began to unfold, slavery, feudalism, and capitalism evolved as society as we know it took shape. In each of those three systems, huge inequalities separated people into masters vs slaves, lords vs serfs, and employers vs employees. Exploited and oppressed slaves, serfs, and employees opposed the inequalities of those systems but were unable to overcome them despite repeated efforts (revolutions). Marx questioned why modern societies failed to install and sustain systems of egalitarian wealth and power distribution (democracy). His answer lay in the understanding that class differences within the organization of production produce inequalities and sustain them. Overcoming those inequalities thus requires ending the class divisions within the organization of production and instead organizing in favor of a worker-cooperative structured method of production.
In this week’s episode of Economic Update, Professor Wolff discusses the economic causes and effects of the global demographic’s decline, the Trump administration's colonial plans for Greenland, and examples of resistance and fighting back as the Trump/Musk firing of federal workers gets underway. In the show's second half, Professor Wolff interviews the activist, organizer, and people's lawyer, who is organizing multiple fronts of resistance, David Cobb.
This week on Economic Update, Professor Wolff delivers updates on the firing of government workers by Trump/Musk with an economic analysis showing it to be an attack on the U.S. working class followed by a discussion of Trump's foreign policy of turning against Europe as merely an adjustment to an "American Capitalism First" project that is as old as the U.S. The second half of the show features an interview with U.S. federal employee Colin Smalley, a sixteen-year member of the U.S. Army Corps of Engineers and an IFPTE union member who discusses how and why workers are fighting back.
This week’s episode of Economic Update features updates on the economic risks and costs Europe faces from deporting or blocking immigrants as compared to Spain's prosperity through a pro-immigrant policy, the work of Michael Burawoy, a Marxist sociology professor at UC Berkeley, and how the inflation of meat prices is affected by a four-company oligopoly that controls 85% of the U.S. meat supply. In the second half of this week’s show, Professor Wolff interviews economics professor Shahram Azhar of Bucknell University on his recently published critique of the 2024 Nobel Prize in Economics.
In this week’s episode of Economic Update, Professor Wolff discusses unionizing Whole Foods workers VS. Amazon and Trump and the contradictions, dangers, and global retaliation of the new administration's tariff program. The show's second half features an interview with political scientist Dr. Wilmer J. Leon III on the China-U.S. competition: its costs, the stakes, and why the U.S. is losing.
Professor Wolff discusses Trump's attempts at taking Panama as more evidence of rising colonialism and imperial ambitions, the recent organizing and strike of 10,000 Colorado grocery workers, and finally corporations and investment funds abandoning DEI. Finally, we have an interview with psychotherapist Tess Fraad-Wolff on capitalism's causal links to declining empathy and rising addictions.
In this week's episode of Economic Update, Professor Richard Wolff delivers updates on the North Carolina union election at an Amazon warehouse, the deportation of immigrants, and the U.S. construction industry, a lesson in how capitalism installs new technology like A.I. and how it could be far better done. In the second half of this week's episode, Professor Wolff interviews Serena Martin, a formerly incarcerated social activist and executive director of New Hour for Women and Children.
In this week's episode of Economic Update, Professor Richard Wolff delves into the heroic efforts of California firefighters and their extraordinary work in battling the recent wildfires in Los Angeles. We also explore the progressive transformations occurring within U.S. labor unions and shed light on the escalating housing affordability crisis across the United States.
Additionally, we interview Professor Clara Mattei, Director of the newly established Center for Heterodox Economics in Oklahoma. Professor Mattei shares details about this groundbreaking initiative, outlining its goals, mission, and activities, as well as how it distinguishes itself from mainstream economic approaches.
In this week's episode of Economic Update, Professor Wolff explores the economic consequences of the United States threatening Mexico and Canada. We also highlight how worker co-ops are joining forces with unions to strengthen both movements and examine the economics of the illegal drug trade. Additionally, we discuss the significance of Indonesia joining BRICS.
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.
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.
In this week's episode of Economic Update, Professor Wolff analyzes key global developments, including President Trump's looming tariff wars, the collapse of Emmanuel Macron's government in France, and massive strikes by Volkswagen workers in Germany. He also examines the fall of governments in South Korea and Syria and its implications, along with the public reaction to the assassination of a prominent healthcare CEO. Professor Wolff concludes by analyzing how these events collectively highlight class struggles fueled by the declining U.S. empire and its systemic challenges.
In this week’s episode of Economic Update, Professor Wolff dives deep into why socialism remains a popular and successful economic system. Professor Wolff highlights new laws passed by the government of Spain that punish airline companies who employ 'unjustified' airline passenger fees. We then debunk the unsubstantiated and nonsensical myth we hear so often that: 'Socialism has never worked,' and finally we juxtapose the history of the last capitalist collapse (1930s Great Depression) when the US working class turned left versus the current crisis of US capitalism when the initial turn of the working class is to the right.
In this week’s episode of Economic Update, Professor Wolff discusses how US foreign aid serves the interests of corporations and their profits. We highlight how San Juan County in Washington state handled its fiscal crisis by cutting its employees' work week to 32 hours. We update you on workers of Wells Fargo Bank who are currently conducting a unionization drive, which could lead to other US banks doing the same. We provide a quick analysis of the history of settler colonialism in New Zealand and how this practice informs and influences the Israel and Palestinian crisis. Lastly, we interview Professors Michael Hillard and Richard McIntyre for a Marxian analysis of the exceptional nature of the US capitalist class and the US election.
On this week’s episode of Economic Update, Professor Wolff discusses how major pharmaceutical companies (CVS, United Healthcare, Cigna) are complicit in the opioid crisis in the United States. We highlight a successful food co-op in Minneapolis and explain the inauthenticity of mainstream discourse on the US economy. Finally an interview with Richard "RJ" Eskow, Bernie Sanders' speechwriter, an expert on AI and the basic social issues its spread now raises.
On this week’s episode of Economic Update, Professor Wolff discusses U.S. Universities and Politicians' repression of student protesters, the continued global demands of indigenous people for liberation from colonialism's legacies, and Harvard's corporate administration sacrificing its students' and faculty's freedom of expression to pander to some of its donors. Finally, Professor Wolff interviews Professor Jerome N. Warren, editor of the newly published Routledge Handbook of Cooperative Economics and Management.
In this week’s episode of Economic Update, Professor Wolff discusses the economic repercussions of Western sanctions and how the retaliations they provoke. We then turn to the latest labor strikes and wage & benefit gains achieved by unions at Boeing and East Coast dock workers. We highlight China's dominance of the global energy markets; and U.S. spending on military and police. Finally, we close with an economic analysis of Israel's ongoing violence in Gaza.
On this week’s episode of Economic Update, with the 2024 U.S. Presidential Election only 8 days away, Professor Richard Wolff explores the shared refusal of both major candidates and their parties to face and debate solutions to the grave problems facing US capitalism in 2024: (1) inequality, (2) instability and (3) a declining empire. Instead, we are witnessing both Trump and Harris compete to be the "cheerleader in chief" for capitalism. Missing from the discourse is a genuine opposition party that might dare to offer an alternative non-capitalist vision and solution to the system's deepening problems.
This week's Economic Updates focuses on CA Gov Newsom signs law banning "legacy and donor" favoritism in private college admissions to foster a "merit system," as well as analyzes the Milei regime in Argentina imposing austerity on Argentina: masses suffer to pay off debts that enriched the few in classic ways. Interview with economics Professor Ian Seda-Irizarry, City University of New York on conditions provoking rise of political left and left unity in Puerto Rico.
On this week’s episode of Economic Update, Professor Richard Wolff discusses how FED Chair Jerome Powell admits capitalism's intrinsic instability, a Tennessee plastic plant won't let workers leave before storm Helene hits, we examine new drugs for obesity (Ozempic and Wegovy) which highlights the failures of for-profit medical care. Finally, we interview Jordan Chariton on his new book "We, the Poisoned: Exposing The Flint Water Crisis Cover-up and the Poisoning of 100,000".
On this week’s episode of Economic Update, Professor Richard Wolff discusses the modern political history in the United Kingdom as Conservatives protect UK corporations and the rich by employing 'distractions': first Brexit, and now Ukraine. We then turn to the latest worker uprising this time in Washington state, as workers at Boeing strike and demand better wages and benefits, and state government employees who are legally prohibited from striking are demanding better conditions as well by demanding better pay and conditions. We turn to the United Healthcare Corporation's latest profit-driven "pre-payment information" scheme, which disenfranchises people in need. Finally, in an interview with Eric Blanc, a founder of the Emergency Workplace Organizing Committee (EWOC) we discuss its phenomenal success in helping workers across the economy learn about organizing, and access to labor unions for help with forming unions.
On this week’s episode of Economic Update, Professor Richard Wolff addresses the numerous requests for financial planning or investment advice that he receives from many of you. We touch on the truth about investing in the stock and/or bond markets. In addition, Professor Wolff offers a basic understanding of the economics of US capitalism's century-long, profit-driven failure to adequately provide housing to its people. Finally, an interview with Professors Eleni Schirmer and Sofya Aptekar about their new book "Lend and Rule" and their fight against the financialization of US public universities, and why it is so necessary.
On this week’s episode of Economic Update, Professor Richard Wolff offers a special episode to continue the previous discussion on communism. We will discuss how socialism's history evolved into separating socialism from communism and creating multiple, different meanings of what is considered communism today.
On this week’s episode of Economic Update, Professor Richard Wolff offers a special episode discussing the unscary origins of the ideas of communism and socialism before the Cold War demonized them. We will discuss how socialism's history evolved into separating socialism from communism and creating multiple, different meanings of what is considered communism today.
On this week’s episode of Economic Update, Professor Richard Wolff draws attention to the 10,000 hotel workers who recently conducted a strike impacting major hotels across 19 US cities. We highlight the contested merger of the two largest grocery chains in America (Albertsons and Kroger threaten to become the third largest retail giant after Amazon, and Walmart) plus the Canadian government forces 9,000 Canadian railway striking workers back to work, with murmurs of a general strike looming. We also give a shout-out to a small Brooklyn pizzeria unionizing with Starbucks workers. Finally, an exclusive interview with world-renowned economist, author and the former finance minister of Greece Yanis Varoufakis who discusses global economic change and the working class, topics discussed in his latest work "Technofeudalism: What Killed Capitalism".
On this week’s special Labor day episode of Economic Update, Professor Richard Wolff honors both Labor day and President Abraham Lincoln. President Lincoln once said in 1861 that "Labor is the superior of capital." Yet, capital in the United States has only two major political parties, the Republicans and the Democrats who both are currently advocating for capital over labor and essentially operating as a two-party monopoly excluding all others. In today's political discourse, Labor has no party advocating for what Lincoln once advocated. The injustice and inequality generated in and for society by capitalist economies is neither necessary nor welcome. A genuine labor party is the missing solution
On this week’s Economic Update, Professor Richard Wolff discusses Kate Pickett's and Richard Wilkinson's best-selling study in the book "The Spirit Level" (2009), showing how economic inequality correlates with most of the major social problems of our time.
We will juxtapose their latest paper "The Spirit Level at 15: The Enduring Impact of Inequality" Which details how economic inequality has only gotten worse in the past fifteen years, despite government laws and programs aimed to "reduce" inequality.
Wilkinson and Pickett show how inequality leads to severe social ills, divisions, and disintegration. What we need is to face that it is capitalism that generates the inequality that generates the hostilities and social tensions intruding upon and damaging our lives."
On this week’s Economic Update, Professor Richard Wolff discusses the growing Labor movement and the nuclear disarmament movements in the United States; we will also examine the economic impacts of people under 50 not having nor wanting to have children; we highlight the UK Conservatives fearmongering claiming Free Speech is in danger from "cancel culture" and how anti "cancel culture" legislation was blocked by the new Labor gov't; We also discuss an Ohio court ruling that favors employers over the general public around boneless chicken that had bones. Finally, we end the show with an interview with psychotherapist Tess Fraad-Wolff on gender, the patriarchy, and recent changes in capitalism.
On this week's program, we question the effectiveness as well as the economics of US sanctions (Economic Warfare), also the American Federation of Teachers (AFT) endorses the United Auto Workers (UAW) plan of setting all union contracts to expire on May 1, 2028, essentially laying the groundwork for a "General Strike". We also highlight the latest rhetoric from the US Chamber of Commerce's declaration of a "labor shortage" which only masks their desire for government help in procuring more workers without having to offer higher pay and better working conditions to overcome the "phony" labor shortage. Finally, we Interview Professor Clara Mattei from Rio as Brazil hosts G20 meetings and discuss the protest events calling for an end to the suffering of the people of Gaza.
This week's new episode features updates on the UK and French elections showing a dramatic shift to the left, contradicting US mass media, US self-induced global economic isolation in pursuit of punishing countries doing business with China, and how Trump and Biden are equally unwilling to solve Social Security's financial problems by taxing the incomes of the rich as Congress could and should do. Finally, Professor Richard Wolff interviews Dr. Harriet Fraad on the global decline in marriage and birth rates and their connections to capitalism. Dr. Harriet Fraad is an author, feminist activist, psychotherapist, hypnotherapist, and host of Capitalism Hits Home.
On this week’s Economic Update, Professor Wolff devotes the entire program to explaining clearly what government deficits are, why they occur, and who benefits from them. We show how deficits and debts reward corporations and the rich at the expense of the mass of employees. This show will equip our audience to see through the misuse of deficits and debts in the 2024 election campaigns.
On this week’s Economic Update, Professor Wolff discusses a huge victory for Uber and Lyft drivers' struggling for better wages in Massachusetts; we also bring to your attention six United States senators who criticized Jamie Dimon, CEO of JP Morgan Chase for failing to curb fossil fuel investments as he promised. In addition, we discuss the unfortunate new law passed by the new right-wing government in Greece extending the working week to six days.
Finally, we close our program with an Interview with longtime activist Rob Robinson, on the latest Supreme Court decision Grants Pass v. Johnson, which essentially criminalizes the homeless poor as part of its extreme right-wing change. Rob Robinson is a formerly homeless individual who has dedicated his life to advocating for the rights of the homeless and for affordable and sustainable housing.
On this week’s Economic Update, Professor Wolff discusses the remarkable bursts of unionization at Starbucks in the US, award-winning New York nurse fired for referring to "genocide" in Gaza, and a critique of Paul Krugman's argument that "democracy" is at stake in the 2024 election. Finally, we close with a major discussion on the tension between the realities of climate change and the profit-driven fossil fuel industry that dominates our global economy. Watch it now
On this week’s Economic Update, the entire program is devoted to how old socialism's rapid growth and global spread in the 19th and 20th centuries entailed a focus on the state. Key issues were: (1) would the socialist state limit itself to regulating capitalist enterprises and the market (as in many Western European nations) to enhance the well-being of the employee class or would the state itself own and operate enterprises and replace the market with state planning (as in the USSR), and (2) would the socialist strategy to acquire state power be reformist and electoral or revolutionary and armed. Concrete experiences in and with both kinds of old (i.e. state-focused) socialism led to self-criticisms from which a new socialism has emerged for the 21st century. The new socialism criticizes the state-focus of the old and prioritizes the transformation of the workplace over the social positioning of the state in and for the socialist vision and strategy.
In this week’s Economic Update, Professor Richard Wolff discusses the rise of the Chinese car industry, the struggle between employers and employees over in-person vs remote workplaces, and the US military's anti-vax program in the Philippines as part of the US-China Cold War that is already underway. In the second half of our program, we interview Kristen Gonzalez, New York State Senator, District 59, on progressives winning elections.
In this week’s Economic Update, Professor Richard Wolff devotes the entire program to an analysis of tariffs. We discuss why tariffs are not a worker's issue, why capitalism's continuous swings between free trade and protectionist periods and phases make little impact on workers, and why competing capitalists seek to get workers to support their positions on tariffs.
In this week’s Economic Update, Professor Richard Wolff discusses The Washington Post's exposure of the corporate rich sponsoring police repression against student protests and how Boeing rewards CEOs while it exhibits the airlines' worst safety record. In addition, the UAW loses union election as German capitalists and southern governors join forces to intimidate workers with job threats. Finally, we highlight why mass public transport is a better alternative to gas-powered vehicles than electric vehicles. We end our show with an interview with David Van Deusen, a socialist and leader of Vermont AFL-CIO.
The program's first half focuses on the realities of China's rise and not the Cold War rhetoric. The second half analyzes the inflation now threatening the US economy. Its causes and consequences turn out to be quite different from the mainstream media treatments of the subject.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
On this week’s Economic Update, Professor Richard Wolff discusses the UAW union’s latest moves; their organizing drives at auto plants, their efforts to form unions among employed and free-lance journalists. In addition, we will highlight New York Governor Kathy Hochul’s decision to deploy national guard troops in New York City subways and what that means for everyday residents. Finally, an interview with psychotherapist Tess Fraad-Wolff on the interactions between patriarchy and capitalism, today.
This week's episode of Economic Update hosted by Professor Richard Wolff, we discuss United Kingdom politician George Galloway's by-election victory, and the raised minimum wage in the UK. We will comment on Elon Musk's lawsuit against the NLRB, as Trader Joe's, Starbucks, and Amazon also join to ask the right-wing Supreme Court to gut regulation of business. We then look at US protectionism as the Biden administration raises tariffs on Chinese electric vehicles, in an attempt to keep Chinese EV's from US markets. Then in labor news, we discuss Starbucks’ negotiations with unions and how Michigan’s legislature killed its "right-to-work" law after 58 years.
Finally, we have an Interview with Richard RJ Eskow on the current decline of the “US Empire”. Richard RJ Eskow is a journalist and host of The Zero Hour. a syndicated radio and television program. A lead writer, speechwriter, and editor for Bernie Sanders’ 2016 campaign, he was also a featured columnist at The Huffington Post. He worked for years in the corporate world, with governments and with multinational organizations at the World Bank, specializing in healthcare financing, policy, and information technology.
This week's episode of Economic Update we discuss the underemployment of US college graduates, failed anti-Russian sanctions, the collapsed UK birth rate, and expanding wars in the Middle East. In addition, we will dive into the costs and risks in absence of a ceasefire in Gaza. Finally we Interview Dr. Harriet Fraad, host of Capitalism Hits Home and a clinical therapist. Professor Wolff and Dr. Fraad explore the post 1970's deindustrialization in the US, its impact on white males versus other social groups, and resulting US social splits.
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".
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).
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.
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.
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?"
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.
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.
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.
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.
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.
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
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.
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.
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.
Updates include how US labor rediscovers the general strike as WGA and SAG-AFTRA strikes merged in LA and allied with hotel workers,' teamsters', and teachers unions; drug-producing firms' profiteering cause shortages of needed medications; new research proves affirmative action for "legacy" students from rich, white families at Harvard, Yale and other elite schools, US domestic food supply chain includes gross examples of forced labor. Part 2 of an interview with Dr Harriet Fraad on new forms of family emerging as working class households react to collapsing traditional households. The family-economy link is a social problem not merely a personal problem.
This over 200-year debate and struggle has become confused and confusing. Too many different definitions make honest, balanced discussions and evaluations of these alternative systems difficult. Because socialism is rising yet again to challenge capitalism, the debate now must take account of the terms' new and different meanings. We do that here in arguing for a new way to understand and engage "capitalism versus socialism."
Bankruptcy of Yellow Freight trucking exemplifies US capitalism's undemocratic core, history of US-China relations (from enmity to friendship to enmity), how GOP and Dems do NOT differ in providing governmental financial support to US corporations.
This week's updates focus on Biden's inadequate student debt relief, Bastille Day and French Revolution, and alternatives to Artificial Intelligence being installed to increase profits and joblessness. Interview with Dr. Harriet Fraad on the crisis of the US family, causes and consequences.
This week's updates focus on Artificial Intelligence abused by employers as Profiteering Tool; racism in US universities, US-China economic competition, the progressivism of Tony Bennett. Interview with Ben Cohen, co-founder/former CEO of Ben and Jerry's Ice Cream on a capitalist's criticism of US capitalism.
This week's update focuses on a systematic overview of federal, state, and local tax systems in the US to show the injustices built into corporate and personal taxation of income, spending and property.
This week's show brings updates on unionization of Stanford University grad student workers, UPS's 350,000 workers vote and prepare for strike, 2.5 million public employees in Germany strike and win big wage gains, LA sees biggest hotel workers strike in 50 years, win big wage gains at LA's biggest hotel. Major discussion of markets' failures using 2 examples: (1) FDR replacing markets with government rationing in World War 2, and (2) using the market to distribute housing causes gentrification and homelessness. Short concluding discussion of the reform vs revolution debate.
On this week's episode, Prof. Wolff talks about the Chinese economy. China is run by a Communist Party but describes itself as socialist, while the employer/employee structure of its enterprises is capitalist. We examine what this means for (a) its place in the world economy, (b) its place in the transition from capitalism to socialism/communism, and (c) its conflict with the US.
This week's updates focus on US small/medium businesses converting to worker coops, the strikes at the US west coast ports and UPS, an employer uses a fake priest to get workers' confessions for employers' use, and the state of Delaware allows businesses to vote in local elections (alongside individuals). In the second half we interview Chris Hedges on the class struggles going on here and now.
This week's updates focus on the ridiculously low ranking of the U.S. among OECD nations, why & how mega-corps get richer faster than we do, the palpable solidarity between the Labor Unions and the writers' strike in the U.S, the UPS teamsters 97% vote to strike beginning on Aug 1, and how Pfizer fails to maintain supplies of penicillin. The major topics of discussion include why global inequality among nations is now falling, and why the phrase "socialism does not work" is flat out wrong.
This week's show includes updates on the US west coast ILWU strike, unemployment compensation for strikers, 1700 CT caregivers strike against austerity, as well as discussing Mexico's fight with the US over Mexico's ban against GMO white corn imports from the US. The major topics of discussion focus on (1) ignorance about socialism among its enemies and (2) the four basically different kinds of socialism in the world today.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
In this week’s show, Prof. Wolff presents updates on the US banking crisis, plant closing injustice, growing child labor in the US, Biden's budget's tax "proposals," and a new book that shows US homelessness is an economic problem. In the second half of the show, Wolff interviews Professor Robert Ovetz on how and why the US Constitution blocks social change.
This week, Professor Wolf interviews Prof. Clara Mattei on her new book Capital Order: How Economists Invented Austerity and Paved the Way to Fascism."
In this week’s show, Prof. Wolff focuses on the struggle over Social Security- real versus false alternatives- and the East Palestine, Ohio, derailment tragedy. In the second half of the show, Wolff interviews Alexis Colon about the colonial status of Puerto Rico and Puerto Ricans fighting against it.
In this week’s show, Prof. Wolff presents updates on dying empires and climate crisis; mass shootings; fast-food mega-corps fund referendum to slow California plan to raise fast food workers wages and working conditions, and why the debt ceiling debate in Congress is a phony GOP-Dem political theater. In the second half of the show, Wolff interviews Aaron Mate, independent US media critic with special expertise on Russia.
In this week's show, Prof. Wolff presents a critique of monopoly and oligopoly; past efforts and success in popular control over mega-corporations - in US and abroad; the fight back by mega-corporations to nullify reforms and regulations. Finally, some real solutions to the social problem and costs of an economy dominated by mega-corporations.
In this week's show, Prof. Wolff presents updates on India's extreme inequality and its lesson, employers squeeze employees with "non-compete" job contracts, and how the profit motive distorts the concept of insurance. In the second half of the show, Wolff interviews Dr Stephen Bezruchka on how deeply and globally inequality endangers health with special attention to the US and Covid-19.
In this week’s show, Prof. Wolff shares updates on Starbucks union growth; Texas journalists and Yale graduate students/employees unionize, strike, win; Western Mass Labor Federation denounces Biden's denial of railway workers' right to strike; two major kinds of US tax injustice: (1) exempting bonds and stocks from property tax when 10% richest own 80% of stocks and bonds, and (2) failing to levy excess profits tax on war profiteers as UK and Portugal have already done. In the second half of the show, Wolff interviews Notre Dame Professor Emeritus David F. Ruccio on Marxian economics, its absence from US universities, and its social insights.
Identifying and examining the larger economic dimensions and trends of three key aspects of today's global economy: Russia/Ukraine war, Europe's quandary, and the decline of the US empire. Attention focuses on the immense direct and indirect costs of the war in Ukraine; on Europe's desperate position and choices caught between the US and China blocs in the world economy; and on how the US empire is responding to its decline in the world economy. Our approach is to stress what so many others deny or minimize. The risk of war and lessons of the past decline of empires figure prominently in the analysis.
In this week's show, Prof. Wolff explains why capitalism does not deserve credit for improved living conditions, Home Depot billionaire blames US capitalism's problems on US workers being "lazy, fat, and stupid," Southwest Airlines as example of failures by both corporations and their gov't "regulators," George Santos as creature of capitalist advertising. In the second half of the show, Wolff interviews Chris Hedges on the crisis of corporate America in 2023.
In this week's show, Prof. Wolff discusses US spending for war in Ukraine paid for by higher interest rates and inflation hurting middle and small businesses ; a rational transport system is NOT electric cars; an appreciation of the "degrowth" impulse with a critique of the degrowth movement's focus on individuals' consumerism and excess consumption.
In this week's Economic Update, Prof. Wolff presents updates on the French School of Economic Warfare and sanctions against Russia; how asset price declines threaten US pensions, electric replace fossil fuel private cars because of profit motive, instead of for a rational transportation policy; US police in elementary schools: bad for students, parents, teachers and even police; honoring Staughton Lynd, US radical academic and labor organizer who died on 11/18/22. In the second half of the show, Wolff interviews Adam Hochschild, author of "American Midnight" how 1917-1921 was a US rehearsal for a parallel right-wing surge of recent years.
The year 2022 produced a daunting, long list of serious problems associated with the economy (inflation, rising interest rates, stock market decline, deterioration of the environment, war, labor uprising, etc.). More than ever, the victims and critics of the problems of 2022 identified them as symptoms of a systemic problem, namely the capitalist system. On the one hand, capitalism is working as it always has, but that is now a problem. At its center capitalism prioritizes profit and profit maximization and we show how they are the core causes of the system's dysfunction now for all but a tiny minority at its top.
In this week's Economic Update, Prof. Wolff discusses explosive labor militancy across 2022 in US and UK, Wells Fargo bank again fined for illegal practices on 16 million bank customers, US-Russia economic warfare undercuts European economies whose response will likely shape Ukraine War's results. In the second half, Wolff interviews journalist Bob Hennelly on the rising US labor movement.
The program's first half focuses on the realities of China's rise and not the Cold War rhetoric. The second half analyzes the inflation now threatening the US economy. Its causes and consequences turn out to be quite different from the mainstream media treatments of the subject.
This week's show is dedicated to a discussion of the signs of US capitalism's decline. US history as the passage of US capitalism from its birth, through its state-supported growth and expansion, to its global peaking from 1945 to 2000. Wolff presents the causes of its ongoing decline this 21st century, and then offers a conclusion on the right, center and left political responses to decline.
On this week's show, Prof Wolff talks about the social effects of inflation and the lack of accountability on the part of employers. Capitalist employers set prices with the only motive of maximizing. Employees, the vast majority, must live with inflation but are excluded from decisions setting prices. Employers scream labor shortage to get the government to force workers back to work at low wages. Employers recover from economic crashes but undercut workers efforts to do the same. How capitalism works.
In this week's Economic Update, Prof. Wolff presents updates on the Twitter-Musk scandals, critique of profit as return to risk, mass European union-led strikes against inflation, economic crisis of 54 poorest nations today, US General Assembly vote against US embargo (sanctions) against Cuba, and an analysis of crypto-currency collapse.
In this week’s show, Prof. Wolff discusses the massive strike of Canadian public employees; economics of the unemployed; business owners,executives and lawyers dominate US state legislatures; and how rising interest rates push the most vulnerable to the margins of US capitalism. In the second half of the show, Wolff interviews Anand Giridharadas on his new book, The Persuaders.
In this week's show, Prof. Wolff presents updates on students' solidarity with workers at Smith College; US car industry manipulates supply/demand to inflate prices, profits; Teamsters strike, solidarity defeat Sysco Systems; Starbucks provokes its 250 unionized stores, and why rising wages do not "cause" inflation. In the second half of the show, Wolff interviews Prof. William I Robinson on global capitalism and its multiple crises he calls "terminal."
In this week's show, Prof. Wolff talks about a new Congress report on huge US wealth inequality; Angela Merkel on relying on Russian oil and gas, the irrationality of 20,000 immigrants dumped on NYC, and Harvard exploiting its tax-exempt status. In the second half of the show, Wolff interviews Nomi Prins, former Goldman Sachs director, on the distorted US financial system and its social effects.
This week on Economic Update, Profl Wolff shows how the economics of existing capitalist and socialist economies make use of both markets and planning. The opposition of markets and planning is largely false and has worked to distract students and observers of economic systems from better differentiations such as how they differently organize their workplaces: hierarchical in the case of capitalist, democratic in the case of worker cooperatives. Some major implications of this critique of the "planning versus market" obsession are discussed in relation to the US, Soviet Union, and China.
In this week's show, Prof. Wolff discusses US sanctions against Chinese semiconductor chip makers, OPEC+ cuts oil production by 2 million barrels per day boosting inflation, desperate UK conservatives abandon Brexit scapegoat to cozy up to Europe, and what US might do to solve "labor shortages." In the second half of the show, Wolff is joined by Ana Kasparian, host of The YoungTurks," to talk about the media and today's US crisis.
In this week's show, Prof. Wolff discusses global capitalism's "perfect storm" (inflation + rising interest rates + reduced production = "stagflation"); 1000 SFO food workers strike and win; FedEx reinforces "stagflation" predictions, and hurricane Ian confirms system's failures to plan for predictable disasters to lessen their costs and impacts. In the second half of the show, Wolff interviews Nick Hayes of Means TV on how it has grown as an "anti-capitalist" Netflix.
In this week's show, Prof. Wolff presents a brief summary of last week's Part 1 as basis for analyzing how WW2 provoked the political independence struggles that changed colonialism into neo-colonialism; how and why political independence is not, by itself, a break from colonialism; why neocolonialism lasts into the present and positions a rich minority of each former colony as the ally, collaborator, and agent of continued entrapment of the former colony within global capitalism. Modern neocolonialism likewise positions a poor majority that seeks real economic independence alongside political independence. The politics of most countries in the world - who are mostly ex-colonies - is a deep class war between that neocolonial minority and its majority/adversary.
This week's show focuses on an analysis of capitalist colonialism that begins with the passing of Queen Elizabeth as a monument to the passing of the British Empire itself. Wolff discusses the differences between pre-capitalist and capitalist colonialism, the goals of capitalist colonialism, the development of a world economy, examples of India, US, and Kenya, the centrality of independence for ex-colonies, and neo-colonialism.
In this week's show, Prof. Wolff talks about the large strikes in Seattle (teachers) and Minnesota (nurses), the significance of Sweden's big vote for ex-Nazi party, and how anti-Russia sanctions cause US electricity prices to rise at twice the inflation rate. In the second half, Wolff interviews Leilani Farha, global campaigner for housing as a human right and against the financialization of housing.
This week on Economic Update, Prof. Wolff talks about the unionization drive among minor league professional baseball players, high poverty rates among US families working full-time year round, and the economics of discrimination against pregnant women. In the second half of the show, Wolff interviews Prof. George DeMartino on the harm done by the economics profession and why it denies doing so.
This week on Economic Update, Prof. Wolff talks about the prospects for a labor-union-worker co-op alliance; megacorp stock buybacks; why and how US/UK sanctions on Russia failed so far; the financial abuse of US retirees; and lastly, union popularity in US at 50-year high.
In this week’s show, Prof. Wolff gives updates on China's changed global economic strategy, California's struggle over higher minimum wages, Boston Mayor siding with Starbucks' strikers, and “regulatory capture" issue again as Philip Morris hires top FDA tobacco scientist. In the second half of the show, Wolff interviews Rob Robinson, formerly homeless community organizer, on today's record homelessness despite decades of programs to "solve" the homelessness crisis.
This program covers the origins, evolution, and current significance of "communism." After a brief history of communism as a utopian ideal of community, we treat Marx's presentation in the Communist Manifesto, and then communism's subordination to "socialism" to World War 1. That War changed everything. It split socialists everywhere into a Socialist Party and a Communist Party with key differences but also commonalities. When most European communist parties collapsed, socialism once again became the only major systemic left position. Yet the utopian longings expressed by communism left many on the left dissatisfied with modern socialisms. They searched for a possible solution, a new kind of communism located in workplaces organized as democratic, worker-coop.
In this week’s show, Prof. Wolff presents updates on record homelessness in New York City, rapidly rising US household debt as recession looms, Washington retreats from globalization to economic nationalism, and 2.2 million in US who lack running water. In the second half of the show, Wolff Interviews Dr. Harriet Fraad, mental health counselor, on capitalism's loneliness crisis.
In this week's show, Prof. Wolff defines recession and shows its relation to inflation and stagflation in their respective roles within capitalism's inherent instability. Rooted in the structure of capitalism, recessions represent both costly burdens on employers and employees alike and also strong incentives to question, challenge, and go beyond capitalism. The economics profession has been unable to end recessions despite centuries of trying. The profession often tries to hide the capitalist roots of recession instead. Wolff concludes with how system change might finally "solve" capitalism's intractable instability problem.
In this week’s show, Prof. Wolff presents updates on successful unionization at Trader Joes, lottery tickets as disguised regressive taxation, gasoline inflation brings record profits to big oil companies, and pharmaceutical industries' ad campaign to block gov't plan to buy medications in bulk and pass savings onto public. In the second half of the show, Wolff interviews Vijay Prashad on his new book with Noam Chomsky on the fragility of US global power.
In this week’s show, Prof. Wolff gives updates on US freight workers strike preparations; progressives and labor targeting municipal government; Chipotle store-closing to stop unionizing, and Occupy Wall Street's "Debt Collective" $5.8 billion student loan forgiveness win. In the second half of the show, Prof. Wolff interviews Noam Chomsky on the decline and fragility of the US empire, the role of US military, and the rise of fascism as a coping mechanism.
In this week's show, Prof. Wolff presents updates on the decline/fall of Boris Johnson and the parallels with Trump; the Sri Lanka collapse and its lessons; Match Corp secretly funding sides in "culture wars" to keep customers, and the latest from UK's Conservative party. In the second half of the show, Wolff talks with Marianne Williamson on the basic social divisions of US politics.
In this week's show, Prof Wolff discusses the unionization efforts by post-doc medical researchers vote union, central bankers mislead on inflation, rising economic footprint and power of BRICS nations, and left victory in Colombia's elections. The second half of the show will feature major discussions of (1) relevance of Marx's Labor Theory of value, French politics shift leftward with wide ramifications.
In this week's show, Prof. Wolff presents updates on SCOTUS decisions, on the chaos of a declining capitalism, French elections and a strongly resurging French left, and on the meaning of recent collapse of the cryptocurrency markets. In the second half of the show, Wolff interviews Eleanor Goldfield, Swedish-US media activist, on why and how Sweden is not socialist.
In this week's show, Prof Wolff discusses the replacement theory's grain of truth amidst its mostly ideological function: to save capitalism from criticism. He analyzes why US capitalists deprived so many white, male, Christian workers of their jobs, incomes, and social standing over recent decades and why that analysis was largely silenced by Cold War taboos since 1945. Were a new US left-labor alliance now to offer that critical-of-capitalism alternative, replacement theory's notion of a great conspiracy (largely by Democrats) to replace white, male, Christians with "others" would be far less socially influential.
This program examines the structure and functioning of the large capitalist corporation dominating modern economies. We discuss their basic economics and influence on politics. We criticize rationales for corporate profits such as "risks" and "entrepreneurship" and explore parallels between corporate structures and monarchies.
"Political Divides Deepen"
Blurb: In this week's show, Prof. Wolff presents updates on US's groceries inflation; US teacher crisis; capitalists profiting from guns and protection from guns, UN report on global suffering from Ukraine war's and sanctions regimes' costs to world's people in terms of fuel, food, and interest rate inflations; and median New York City rent of $4,000/month make city housing increasingly unaffordable to most New Yorkers. In the second half of the show, Wolff is joined by Katie Halper: podcaster, writer,and filmmaker who talks about political decline in the US.
In this week's show, Prof. Wolff talks about the effect of Ukraine sanctions on inflation, Musk as economic dictator, Idaho progressives’ impressive gains, and offers a practical response to shootings. In the second half of the show, Wolff interviews media host Krystal Ball on US politics.
In this week's show, Prof Wolff discusses the stale old debate (competition vs monopoly) and which to blame for inflation; unionization drives across US campuses, and Eastern Kentucky University in particular; how US stores manage inflation; and Elon Musk's peculiar economic "morals." In the second half of the show, Wolff interviews Thom Hartmann on divided US politics.
In this week's show, Prof. Wolff talks about insurers defrauding pensions, record highway deaths, inflation and risk, interest rate rises, Massachusetts to vote on millionaires tax, Starbucks CEO as dictator, and Mitt Romney's sudden concern with "fairness" exposed.
In this week's show, Prof. Wolff discusses today's US child care workers' crisis; how sanctions on Russia profit fossil fuel companies and worsen pollution; systemic causes of the US infant formula shortage; how food corp executives helped write Trump's 2020 order keeping Covid-plagued meatpacking plants operating; meat price inflation vs. general US inflation; and how cryptocurrencies (including "stablecoins") are as unstable as money has historically been.
In this week's show, Prof. Wolff talks about the GOP's stance on student debt forgiveness, US corporations replacing home ownership with rentals, today's US economy not "strong," and left unity, as 4 French left parties work to defeat Macron. In the second half, Wolff interviews Prof. Marcello Musto on the history of the left and Marxism, and how they deal with war in the past and in Ukraine.
In this week's show, Prof. Wolff presents updates on the unionization of Grinnell College student-workers; US GDP drops 1.4% in Q1 of 2022; food inflation versus rationing; Germany's refugee shame; small US businesses to plan price inflation; and western corporations leaving Russia replaced by eager corporations from China, India, Turkey, Brazil etc. In the second half of the show, Wolff interviews Emily Guendelsberger, author of On the Clock, on how badly paid, insanely stressful jobs are the workplace future facing the US.
In this week's show, Prof. Wolff discusses global impacts of food inflation, endless class struggle over length of the workday and workweek and US deaths by guns. In the second half of the show, Wolff interviews housing activists Manon Vergerio and Velvet Ross (Fannie Lou Diane) on the US housing crisis, homelessness and evictions.
In this week's show, Prof. Wolff talks about Sri Lanka’s economic crisis as a global example, and how US billionaires escape taxation at our expense. In the second half, Wolff discusses how and why the market system produces inflations like today’s.
This week on Economic Update, an analysis of Ukraine propaganda war, US inflation worsens, the US college debt crisis and New York City eviction crisis looms. In the second half of the show, Wolff interviews Gayle McLaughlin, former Mayor and City Council member, Richmond, CA. on winning progressive politics.
This week on Econmic Update, Prof. Wolff discusses nurses’ suicides as results of our profit-driven healthcare, sanctions and their effect on inflation, US states where 40% of workers earn under $15/hr, and US corporate profits triple from 2008 to present. In the second half, Wolff talks with host and journalist Chris Hedges about Ukraine and the end of the US empire.
In the first half of this week's show, Wolff evaluates US capitalism as a system of production and distribution of goods and services. In the second half, he compares the evaluation with the very different self-image of dominant voices within US capitalism. His conclusion: US capitalism has peaked and finding it very difficult to face its decline.
This week on Economic Update, Prof. Wolff talks about oil and gas inflation, its impacts, and politicians' phony solutions, the stagnant US gender pay gap and its significance, and why Americans are experiencing economic crisis, while Biden pretends the US economy has "recovered" and is in great shape. In the second half of the show, Wolff interviews Amazon union leader Chris Smalls about union organizing efforts across Amazon and beyond in a revived labor militancy.
This week on Economic Update, Prof Wolff presents updates on Amazon workers' strike, the impact of US inflation, and the underappreciated economic aspects of Russia-Ukraine war. In the second half of the show, Wolff interviews Prof. Joerg Rieger on Christian Socialism, past and present.
This week's show on Economic Update, Prof. Wolff talks about the emerging new world order, Ukraine and inflation, and the economics of sanctions. On the second half of the show, Wolff is joined by Prof. Adolph Reed, Jr. to discuss race, class and the US left.
This week's show features a discussion of what Marx offers in the way of a basic critique of capitalism and an alternative economic system that would be better for most people, and how this differs from mainstream economics.
On this week's show, Prof. Wolff talks about the UK selling visa to the rich, why "non-profit" is really "un-taxed," Apple's CEO's 2021 pay of $99 million, AOC and NYPD arrests for stealing diapers and kids' medicines, cleaning products. Green Party leaders Gloria Mattera and Michael O'Neil join Wolff in the second half.
This week on Economic Update, Prof. Wolff presents updates on the 2021 record 100,000 opioid overdose deaths in the US, the savage reductions in K-12 public education, inflation's profiteers, and offers a different take on the truckers' convoy in Canada. The second half of the show features an interview with activist Rob Robinson, formerly homeless, now a professor advocating for public housing.
On this week's show, Prof. Wolff presents updates on Mississippi's legalization of pot, US's $30 trillion national debt l, Mexican workers at GM plant vote in militant union, and Amazon (after a year of record profits) 17% price increase, as much of nation already suffers from 7% inflation. In the second half of the show, Wolff interviews John Nichols, author of Coronavirus Criminals and Pandemic Profiteers.
On this week's show, Prof. Wolff talks about the US' 2021 trade deficit and its implications, the FED's inflation policy dilemma, and the political economy of the Baltimore and Bronx fires. In the second half of the show, Wolff uses the actual history of fascism in Italy, Germany and Spain to analyze the positions and prospects of fascism in the US today.
This week on Economic Update, Prof. Wolff presents a critique of US Megacorp merger (Microsoft and Activision Blizzard), China vs US on inflation and economic growth, and the collapse of Boris Johnson (like Trump's lost election). In the second half of the show, Wolff interviews author Aviva Chomsky on problems and prospects of US labor and left social movements.
On this week's show, Prof. Wolff talks about the recreation of `company towns' (eg., Kalamazoo, MI) by the richest US capitalists, Biden and the reality of US jobs lost, how and why the US follows UK decline, and rising mass alienation from established political leaders and parties. The second half of the program features a discussion of socialism without Cold War taboos
On this week's show, Prof. Wolff talks about the sharp reduction in US population growth; how "lockdowns" are the anti-Covid policy everywhere, ,some gov't run and focused while others are private, haphazard, and unfocused. In the second half of the show, Prof. Wolff is joined by Fabian Scheidler, author of The End of the Megamachine: A Brief History of a Failing Civilization.
On this week's show, Prof. Wolff talks about US bank closings as a sign of system decline; victory for 3000 striking Columbia University students; Laredo, Texas combats food deserts with co-ops; pandemic years worsen global inequalities, US defense bill aggravates US capitalism's inequalities. Special guest Tess Fraad-Wolff joins the second half of the show to discuss the role of emotions in US politics today (by Dems and GOP establishments but also Trump and Bernie wings).
This week on Economic Update, Prof. Wolff presents updates on Huawei vs Cisco, Europe's exploding energy prices falsely blamed on Covid, Robert Kuttner announces he has become a socialist, polls show big drop in religious affiliation and praying especially among Christians from 2007 to 2021 as secularism accelerates. In the second half of the show, Prof. Wolff is joined by Mike Elk of Payday Report to discuss the growing wave of US strikes since the pandemic began.
On this week's show, Prof. Wolff presents updates on Columbia University grad student strike, the contradictions of 2021, Cuba's Covid vaccine, Trump clone and French politics' lesson, why US manufacturing jobs keep vanishing, why capital-labor struggles affect high and low-paid workers alike: the baseball lockout, and Mitt Romney's 100% hypocritical attack on Dalio's China investments.
On this week's show, Prof. Wolff presents a critique of obscene wealth in the US and the economics of the rape crisis in th US and UK. The second half of the show features an interview with author Bob Hennelly, on the anti-mandate vs anti-vaccine confusion and the debate over Democratic Party losses and strategies.
On this week's show, Prof. Wolff presents updates on 50 years of fossil fuel corps putting profits before science, CVS to close 900 drugstores as part of decline of US workers living standards, FBI lies in Malcolm X assassination, and huge estate tax cuts for US rich. On the second half of the show, Prof. Wolff interviews Prof. Melissa Scanlan on her new book showing how coops are a better bet than traditional capitalist corporations to solve current ecological crises."
On this week's show, Prof. Wolff talks about teacher burnout economics, inflation as an employer-employee fight, the "labor shortage" isn't, "Build Back Better" does not begin to approach what Europe already has, the basic political economy of last November's elections, the critique of obscene wealth.
On this week's show, Prof. Wolff presents updates on his recent debate with Ayn Rand Institute on capitalism vs socialism, inflation in Europe, an analysis of right vs left splitting in US today, and real vs fake causes of energy price inflation. The second half of the show features an interview with David McNally, Prof, University of Houston, on lessons of capitalism's history.
On this week's show, Prof. Wolff presents updates on South Dakota leads US to become world's #2 "tax haven," pandemic's economic shock cut by very uncapitalistic means, why employers want the govt to pay workers to go back to work, and how libertarians mistake puppets for puppeteers. The second half of the show features an interview with Chris Hedges on lessons for us from US prisons and prisoners.
On this week's show, Prof. Wolff presents updates on Biden's and Democrats' fading tax reforms, German and Austrian politics shift left, Yale sells out to rich donors, product shortages often deliberate, wages for housework, and real US food inflation.
On this week's show, Prof. Wolff discusses how Amazon rips off small business and squeezes workers, US and China's military tactics, top mainstream economists grasp the deepening critique of capitalism, and how strikes at Nabisco and Kellogg expose capitalism's classic contours of class struggle. The second half of the show features an interview with Prof Talia Lugacy on her new independent film This is Not a War Story released by Warner Media HBO Max.
The program's first half focuses on the realities of China's rise and not the Cold War rhetoric. The second half analyzes the inflation now threatening the US economy. Its causes and consequences turn out to be quite different from the mainstream media treatments of the subject.
On this week's show, Prof. Wolff presents updates on the strengths of socialism in German elections, British and US public opinion; and the US policies that are impoverishing its Puerto Rican colony. The second half of the show features an interview with Dr. Cornel West, with special attention to the contradictory realities of Harvard University, the public health failure of US policy toward Covid, the hostility toward Haiti and Haitians, and China.
On this week’s show, Prof. Wolff presents updates on the following topics: US wars lost: against Afghanistan, Iraq, and Covid; private profit from climate disaster; systemic infrastructure neglect; decline of whites in US; UK fears about US loss in Afghanistan; capitalism's profit-driven "long supply chains;" and lastly, workers power against employers in US today.
This week on Economic Update, Prof. Wolff pays to Mikis Theodorakis, Greek musician and political hero and discusses Starbucks workers in Buffalo, the economic fallout of Supreme Court's anti-aborton act, what Hurricane Ida fatalities show, and the $8 trillion cost of US wars since 9/11. The second half of the show features an interview Leila Roberts and Tess Fraad-Wolff on the harsh realities of US treatment of workers this Labor Day season, 2021.
On this week's show, Prof. Wolff present updates on global supply chain slow-downs; student costs/debts in US, UK far higher than in most peer nations; FED adds inflation to the ways its policies worsen income and wealth inequalities; and lastly, higher gun sales and violence since 1990s despite the dramatic declines in violent crime rate. The second half of the show features an interview with Michelle Vassel (administrator of Wiyot tribe) and David Cobb (Director of Cooperation Humboldt) on their ongoing political collaborations.
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.
This program is devoted to Occupy Wall Street (OWS) on its 10th anniversary. Prof. Wolff discusses OWS as a historic turning point, as legacy for the US left, and his personal experience. Wolff presents OWS's 4 basic causes, its anti-capitalist economics, and its lessons.