Economic Update with Richard D. Wolff

Latest Episodes:

[S9 E47] Libertarianism, Capitalism and Socialism Dec 12, 2019

Show notes

Libertarians defend capitalism by saying its many current flaws/faults flow from the state's economic interventions, not from the system itself. Libertarians oppose socialism as even more state-dominated. We criticize libertarians based on capitalism's long history of strong state interventions and socialism's long-standing anarchistic components. We conclude by inviting consideration of possible agreements between some libertarians and some socialists.

[S9 E46] Competition and Monopoly in Capitalism Dec 06, 2019

Show notes

This week's special topic discusses capitalism's growing problems, such as inequalities, instabilities, and unsustainability. That leads some defenders to argue that the causes of these problems are monopolies displacing competition in many industries. We disagree: capitalism's history is oscillations between competition and monopoly, each causing the other. Capitalism itself is the problem, not its oscillating forms.

Fascism: An Analysis for Today [REPEAT] Nov 28, 2019

Show notes

This is a REPEAT episode. An in-depth analysis of fascism as massive government intervention to protect and save a crashing capitalism. We focus on today's examples, historical parallels (in Germany and Italy), and how "strong men" leaders push fascist agendas. We discuss how fascism and socialism differ and how nationalism serves as fascism's social "disguise.

[S9 E45] Teaching Economics: A Revolutionary Approach Nov 21, 2019

Show notes

Updates on Sawant's victory in Seattle City Council election, the US obesity problem's costs and causes, critiquing libertarian arguments for capitalism. Interview Dr. Amy S. Cramer, Prof of Economics, Arizona, on her accessible education project "Voices on the Economy.

[S9 E44] Political Strategy for Transition Nov 14, 2019

Show notes

Today's program discusses a political strategy for transition beyond capitalism to an economy based on democratic worker-cooperatives. The first half explores the history of how transition was achieved from feudalism to capitalism. The second half draws lessons from that history to provide a strategy for a transition now beyond capitalism.

[S9 E43] U.S. "Profit-driven Medicine" Nov 07, 2019

Show notes

Updates on Berlin, Germany's law freezing all rents for 5 years, overindebted corporations threaten world economy, prisoners' slave labor in Los Angeles, French inequality and yellow vests, Bernie's push to put workers on corporate boards. Interview with Dr. Michael Magee on US medical-industrial complex.

The Human Agenda Oct 31, 2019

Show notes

Updates on costs of NBA offense to China, worsening global inequality, poverty mocks Nobel prize for 3 economists working on "incremental solutions" to poverty, why Google donated to global warming deniers, and latest crisis in defaults on US auto loans. Interview with Richard Hobbs, Human Agenda Director, San Jose, CA, expert on worker co-ops.

The Capitalist Corporation Oct 24, 2019

Show notes

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.

Making Critical Arguments Oct 17, 2019

Show notes

Updates on US housing crisis as systemic failure (the homeless LA opera singer), Greta Thunberg's critics exposed, Europeans gain from US-China trade war, Sackler family "donations" to museums, universities, capitalists take over Sports Illustrated. Interview on Left's critical arguments with Prof. Ben Burgis of Georgia State University.

Worker Co-ops, Socialism's Future Oct 11, 2019

Show notes

On the first half of the show, Prof. Wolff focuses on how, why socialism has changed from what it meant in the 19th and 20th centuries (public enterprises + state planning vs capitalism's private enterprises + markets). The second half explores why 21st century socialism aims to democratize capitalist workplaces, replacing their top-down undemocratic organization with worker cooperatives.

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