Economic Update with Richard D. Wolff

Latest Episodes:

Lessons From A Crisis Year 2020 Dec 17, 2020

Show notes

This week's show features a survey of the major economic events of 2020 that were poorly covered by mainstream media: the twin crises of viral pandemic/capitalist crash; protesting right-wing regimes (France, US, India, Poland); how the US Census Survey reveals the extent of US suffering; how Federal Reserve policies, intended to combat Covid-19 and economic crash, worsened income/wealth inequality; and the correction of poor unemployment data during a massive jobless crisis.

Working Class Power Dec 10, 2020

Show notes

On this week's show, Prof. Wolff discusses Biden's 'new economic team,' big US banks falling short in key stress tests, India's 250-million-strong general strike, and lastly, huge chunk of US relief funds aimed at small and medium businesses grabbed instead by big business. The second half of the show features an interview with Flight Attendants Union President Sara Nelson.

Social Movement Gains in LA Dec 03, 2020

Show notes

On this week's show, Prof. Wolff discusses the immense social waste of today's US unemployment the Trump ban on investments in Chinese companies, new global organization for worker co-ops, and higher education cuts in UK and US. The second half of the show features an interview with Niki Okuk, South Central LA activist fighting for community control of downtown Crenshaw Mall.

What "Capitalism's Decline" Means Nov 19, 2020

Show notes

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.

US Labor battles Covid-19 and Politics Nov 12, 2020

Show notes

On the first half of this week's show, Prof. Wolff discusses labor's gains (Florida and Maine) and losses (the tragic Prop 22 in California), and the refutation of the claim that China's spectacular economic growth is a product of capitalism, not socialism. The second half of the show features an interview with Bob Hennelly, investigative reporter, on labor in the U.S. today with a particular focus on public employees.

No Matter Who Wins Nov 05, 2020

Show notes

On this week's show, Prof. Wolff presents the following short updates: Inspire Brands buys Dunkin Donuts, as big firms grow while medium and small firms die; private US capitalism is now on "life-support" financial dependence on US gov't; and pre-Covid US eviction tsunami is now getting worse fast. No matter who wins, the capitalist system gets continued support, continued failure to end instability, continued erosion of the New Deal, and continued denial of real political choice in the US.

Capitalism's Worst Nightmare Oct 29, 2020

Show notes

On this week's show: what major social changes will flow from today's combination of major economic crash and the viral pandemic (capitalism's worst nightmare)? To answer, we consider how European feudalism changed after its 14th century combination of economic decline and the bubonic plague. The two big changes then were (1) switching from a decentralized to a strong state, monarchical feudalism and (2) transition from feudalism to capitalism. The two big parallel changes now are also (1) switching to a strong state capitalism and (2) transition from capitalism to a worker-coop based economy.

Cuban Commitment to Worker Coops Oct 22, 2020

Show notes

On the first half of this week's show, Prof. Wolff presents updates on the different metrics used for US unemployment, IMF on uneven recovery, money and US elections, Indigenous People's Day, and lastly China's commitment to digital currency, while big banks hold back other countries. The second half of the show features an interview with Havana professor Camila Piñeiro-Harnecker.

Progressive Social Media Surges in Canada Oct 15, 2020

Show notes

On the first half of this week's episode, Prof. Wolff presents a critique of pandemic eviction and updates on: the real US unemployment costs, Denmark sides with Germany against US pressure, China's successes, and lastly, why there has been no economic recovery in the US. On the second half of the show, Wolff interviews Lance of The Serfs, a major Canadian left-wing podcast.

New US Labor Militancy Oct 08, 2020

Show notes

On this week's show, Prof. Wolff talks about the Geneva, Switzerland vote that's raising the min wage to $ 25.16/hour or over $50k/year; GOP block federal aid to cities and states; economics of police brutality; 20th vs 21st century depressions; and lastly, how profit motivates capitalists to market fake, toxic hand sanitizers. On the second half of the program, Wolff interviews John Samuelsen, President of Transport Workers Union in the US.

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