Updates on economics of 2 million home health aides, extreme Uber inequalities, Alaska universities 41% budget cuts, Michigan governor during Flint Water Crisis says his critics are "uncivil," a British district's labor party proposes a worker-coop sector to UK Parliament using resources from our "Economic Update" programs. Major topics discussed: economics of reparations for African-American slavery and economics of Bernie et al proposal to cancel student debts.
Aug 08, 2019•29 min•Season 9Ep. 31
Updates on Trump as distraction vehicle, Macron's corruption, coffee price collapse drives immigrants to US, why rightists oppose free tuition and student loans, and why Trump/GOP do not stop jobs exodus from US. Interview Dr. Harriet Fraad on implications of US women's soccer victories.
Aug 01, 2019•29 min•Season 9Ep. 30
Depriving non-white students, fast food made worse for profit, Wayfair workers demand power, more scapegoating of immigrants, firms' promises of gain to workers from Trump 2017 tax cut proved false. Interview Lee Carter, elected socialist from 50th District to Virginia Legislature.
Jul 25, 2019•29 min•Season 9Ep. 29
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.
Jul 18, 2019•29 min•Season 9Ep. 28
Updates on "regulatory capture" in the US vs EU, IMF report on the US economy today finds major negatives, and how Trump's desperation for re-election shapes his aggressive policies toward the Federal Reserve, China and Mexico. Interview with John Duda from the Democracy Collaborative and one of the founders of Red Emma's Booskstore Coffeehouse, a 30-member worker cooperative in Baltimore.
Jul 11, 2019•29 min•Season 9Ep. 27
On this episode of Economic Update, Prof. Wolff presents updates on inequalities in pay for CEOs vs average workers; economics of mega-mergers; billionaires' idea of "charity;" economic consequences of attacking Huawei Corp; Bernie leads on two new bills in Congress to expand and provide loans to employee-owned businesses and worker coops. On the second half of the show, Prof. Wolff interviews Prof. Ric McIntyre on basic problems of US capitalism today.
Jul 04, 2019•29 min•Season 9Ep. 26
As follow-up to earlier parallel program on the USSR, this program seeks to offer (1) an overview of China's economic development mostly over the last 25 years (GDP, real wages, etc.), and (2) its economic strategy: learning but also differing from Soviet strategy. Some historical context is also provided.
Jun 27, 2019•29 min•Season 9Ep. 25
In this episode of EU, Prof. Wolff tries to go beyond simplistic, sterile Cold War debates of demonizers vs celebrants of the USSR. USSR's strengths and weaknesses, successes and failures are examined from revolutionary beginnings in 1917 to its 1989 implosion.
Jun 20, 2019•29 min•Season 9Ep. 24
Updates on US church membership and its tax subsidies, Toyota and Merkel slam US economic nationalism, 40 US states sue price-gouging pharma firms, Trump ("self-described "tariff man") does not understand that Americans pay all tariffs he imposes, Mothers' Day and the minimum wage, capitalism and politicians' corruption. Interview Neha Mathew-Shah, Pres., Progressive Workers Union.
Jun 13, 2019•29 min•Season 9Ep. 23
As ever more people become anti-capitalist and look toward socialist alternatives, it is important to grasp key differences among the alternative kinds of socialism. This program explains those differences among (1) the moderate or "democratic" socialism ( a la Scandinavia), (2) the communist kind of socialism (in the USSR and People's Republic of China, and (3) the new socialism focused on democratizing the work place. Doing better than capitalism will require deciding which of these three kind...
Jun 06, 2019•29 min•Season 9Ep. 22
This special edition of "Economic Update" is devoted to Understanding Marxism , the title of a short new book just published by Democracyatwork. Today's program, like the book, explains Marxism's systemic insights into capitalism now. We discuss Marxism's basic criticisms of capitalism and also its complex relationship to socialism. Finally, we offer a survey of the last century of Marxism's huge, diverse influences on modern economics, politics and culture around the world.
May 31, 2019•29 min•Season 9Ep. 21
The program begins by explaining the economics behind the great US anti-leftist purge ("McCarthyism") after 1945. It then shows the economic impacts of that purge over the last half century. Finally, it explains how that history produced a very different political response to the crash of 2008 compared to FDR's response to 1929. *Note: This is a rebroadcast. A new episode of EU will not be released this week in observance of Memorial Day.
May 23, 2019•29 min•Season 8Ep. 24
On this week's show, Prof. Wolff presents updates on the US "bribing for college admission" scandal, how lobbyists reflect and worsen inequality, So. and No. Carolina teachers strike for better education, how NDAs (non-disclosure agreements) reflect and worsen workplace inequalities across global capitalism. On the second half of the show, Prof. Wolff interviews author Victor Grossman, American who lived and worked in socialist Germany across the entire history of the GDR.
May 16, 2019•29 min•Season 9Ep. 20
On this week's show, Prof. Wolff presents updates on 60 megacorps who paid no 2018 Federal taxes, GM's CEO gets $29.1 million while GM fires thousands, wrecks communities, etc., Notre Dame tragedy exposes French inequality as billionaires suddenly find money for a church, not for people, rising wave of US worker strikes reflect militance and unity. On the second half, Prof. Wolff interviews Rebecca Lurie, Director of Community and Worker Ownership Project, CUNY.
May 09, 2019•29 min•Season 9Ep. 19
On this week's show, Prof. Wolff presents updates on US college students as share-croppers for investors, on conservatives' fake opposition to gov't intervention in the economy, on deepening inadequacy of retirement savings of US baby boomers, and on how fading US middle class leads many first to blame/scapegoat foreigners, then fellow citizens. In the second half of the show, Prof. Wolff interviews Michael Steven Smith on his new book, Lawyers for the Left.
May 02, 2019•29 min•Season 9Ep. 18
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."
Apr 25, 2019•29 min•Season 9Ep. 17
Updates on Chicago in change, decline of world trade, New York's "congestion pricing, IMF on Trump trade war and hi-tech monopolies, 7 states sue Ag Dept over school lunch deregulations, Trump cautions audience "Don't underestimate "the power of socialism to get a vote." Interview with Dr. Harriet Fraad on causes of the #MeToo movement.
Apr 18, 2019•29 min•Season 9Ep. 16
On this week's show, Prof. Wolff presents updates on Brexit and Mueller Report, Chicago is new site of labor upsurge, how income shapes education and thus "merit," why objections to Green New Deal and Medicare for All are mistaken, how a fascistic "punish the poor" mentality rises in US. In the second half of the show, Prof. Wolff interviews Prof. George Ciccariello-Maher on the crisis, foreign intervention. and resistance in Venezuela.
Apr 11, 2019•29 min•Season 9Ep. 15
Updates on LA strippers strike, Trump fails to end US trade deficit, UN reports on protests against capitalist inequality and gov't repression of those protests, GM closes Lordstown, Ohio factory with tragic social effects, Trump and FED reduce bank regulation after 10 years of massive bank misdeeds. Interview with journalist Bob Hennelly on underpaid EMTs and right-wing hostility to Green New Deal's proposal for a universal right to a job.
Apr 04, 2019•29 min•Season 9Ep. 14
In-depth analysis of UBI shows its advantages over most welfare, safety net systems. An even better alternative would avoid capitalism's unnecessary production of unemployment because it utilizes technical progress (rising productivity) for profits. The alternative benefits workers' leisure rather than profits. It is more democratic and avoids splitting people into unemployed vs employed, non-poor vs poor population.
Mar 28, 2019•29 min•Season 9Ep. 13
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.
Mar 23, 2019•29 min•Season 9Ep. 12
Updates on International Women's Day, UC to make all research free, Cuomo begs and bribes Amazon again, US denounces UK protectionism, Spain = #1 healthiest country vs US at #35, how Trump/GOP raised taxes and thereby cut refunds. Interview with Eleanor Goldfield, creator and host of Act Out! TV show on political activism today.
Mar 14, 2019•29 min•Season 9Ep. 11
[S9 E10] Updates on striking Oakland school teachers, dangers of declining pensions, bank fined for helping clients evade taxes, in tariff war over black olives US vs EU, stagnant real wages in US explain rising inequality. Interview with Larry Williams, Jr., labor union activist and co-founder of UnionBase.org.
Mar 07, 2019•29 min•Season 9Ep. 10
Updates on the economics of immigration, France's yellow vests join union-called general strike, demonstrations against Sackler family's profiting from oxycontin, and New York City Council considers giving priority to fast-food workers (majority) over employers (minority). Major discussions of: (1) successful strikes by Mexican workers and their collaboration with progressive new Mexican government, and (2) Trump/GOP's inheritance tax cut benefits richest, worsens US inequality of opportunity....
Feb 28, 2019•29 min•Season 9Ep. 9
Updates on million-person Communist demonstration in India, subsidized "development" by Foxconn and Amazon, merger making big banks bigger, delusion of "bringing back manufacturing" US. Interview with Lee Camp of "Redacted Tonight" on comedy, news and analysis.
Feb 21, 2019•29 min•Season 9Ep. 8
Updates on the government shutdown's very important lessons, US teachers oppose a declining capitalism imposing its costs on the people, and firing the big banksters leaves our big bank problems unsolved. Interview with journalist Julianna Forlano on economic costs and effects of a working mom in US capitalism today.
Feb 14, 2019•29 min•Season 9Ep. 7
Prof. Wolff presents updates on (1) the US public education crisis (teacher strikes, declining quality, insufficient resources) and how it undermines the US's economic future, (2) the absurdity of the government shutdown over an ineffective wall and a tiny portion of the government's budget, and (3) how the schools crisis and the shutdown signal a larger social decline. The second part of the show features an interview with Professor Alex Vitale on his book, The End of Policing , and why US poli...
Feb 07, 2019•29 min•Season 9Ep. 6
On this episode of Economic Update, Prof. Wolff begins with socialism's history especially in the US: from being widely discussed up to 1945, then repressed in the Cold War, and now vigorously revived since 2008. He then examines socialism's basic economic criticism of capitalism in the 20th century. And finally, he shows how and why the socialism emerging now is new and different.
Jan 31, 2019•29 min•Season 9Ep. 5
Updates on "yellow vests" spread to UK, book Dying for a Paycheck, the bail-in scam, paying for airplane seat assignments, and postal banking. Major discussions of tax reforms needed and deserved and gentrification as a market injustice.
Jan 24, 2019•29 min•Season 9Ep. 4
Updates on Luxembourg making all public transport free, Europe evading US sanctions on Iran, Saudi Arabia sleaze deals with Trump, Deutsche Bank corruption massive, Pompeo's anti-China strategy contradicts Trump "nationalism." Interview with journalist Bob Hennelly on politicians betraying workers' and local citizens' needs.
Jan 17, 2019•29 min•Season 9Ep. 3
