Economic Update with Richard D. Wolff

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, Mexican workers at GM plant vote in militant union, and Amazon's 17% price increase (after a year of record profits), 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.

This special program discusses how the history of the US working class shaped US politics. We start with how and why the 1930s Great Depression married the US working class to FDR's Democratic Party (New Deal Coalition). We next show how and why after 1945, US business leaders and Republicans broke up that marriage to undo the New Deal. By re-building working class divisions - especially around race and gender - males and whites moved toward the GOP. A weakened Dem party responded by appealing to (and thereby dividing) business interests to support them. The two parties thus became almost identically pro-capitalist and both presided over growing inequalities in income, wealth and political power between the richest 10% and the working class. Building to 2016, working class disgust with both parties showed in disinterest, ambivalence, and the growing role of "cultural" differences in place of working class solidarity. It boiled over when an "outsider" (Trump) defeated first the Republican and then the Democratic establishment candidates, an expression of the working class's history since 1929. We end on the implications of this history for the 2020 election.

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.

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 homage to Mikis Theodorakis, Greek musician and political hero, and discusses Starbucks workers in Buffalo, the economic fallout of Supreme Court's anti-abortion 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 with Leila Roberts and Tess Fraad-Wolff on the harsh realities of US treatment of workers.

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.

Repeat. 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.

On this week's show, Prof. Wolff presents updates on the complexities of anti-vaccination movements, the long decline of religion in US capitalism, Disneys's shift to serve the richest, lessons from AFL-CIO chief Richard Trumka's leadership, and failures of GOP, Dem leaders to stop last 75 years of decline of manufacturing in the US economy (driven by corporate profitability).

On this week's show, Prof. Wolff presents updates on Alabama miners' strike, how China's focus on reducing inequality affects competition with the US, and the economics of the "right to repair" consumers' movement in the US. The second half of the show features an interview with investigative reporter Bob Hennelly, author of "Stuck Nation: Can the United States Change Course on Our History of Choosing Profits Over People?"

This week on Economic Update, Prof. Wolff discusses the new US program for monthly child benefits; why Covid strengthens some and divides other nations; the myth of "labor shortage;" the real cost of ultra-luxury cruises; Uber and sexual assaults; and lastly, the outsized US costs of healthcare.

On this week's show, Prof. Wolff provides updates on two small labor victories (Vermont's AFL-CIO and 4000 pork-processing meat cutters in Sioux Falls), how global capitalism became even more unequal during the pandemic, Iceland's move to the 4-day work week, US students hobbled by debt, and why "labor shortage" is actually class war. On the second half of the show, Wolff interviews Wendy Liu, author of "Abolish Silicon Valley: How to Liberate Technology from Capitalism."

On this week's show, Prof. Wolff discusses the election of a socialist, African-American woman as new mayor in Buffalo, NY; US unemployment insurance's meager support for jobless; Teamsters target Amazon workers for union drive; veterans' suicides and the costs of US wars. On the second half of the show, Wolff interviews Rodrigo Roa Fernandez, Chilean revolutionary activist on his country's new feminist movement, Constituent Assembly, and new Constitution.

On this week's show, Prof. Wolff presents updates on "The Friends" reunion and what it teaches, how China outmaneuvers US tariffs, etc., and how Yellow Vests plus French unions defeated Macron "reforms." On the second half of the program, Wolff interviews Astra Taylor, filmmaker and debt rebellion activist.

On this week's show, Prof. Wolff talks about Chipotle Mexican Grill blaming its price increases on its workers, economist Arthur Laffer's claims that many poor, minority workers are "not worth $15/hour" and false claims that lower taxes help economic growth while higher taxes hurt it. On the second half of the program, Wolff interviews August H. Nimtz, Jr. on today's crisis of a declining US capitalism, its impacts and implications.

On this week's show, Prof. Wolff discusses French voters abstaining (66%), and rejecting party establishments in the face of social crisis; Seattle City Council helps tenants with law changes as conservatives seek to recall progressive Council leader Sawan; growing US economic inequality cuts mass consumption and thus hurts US economy; June 2021 polls show capitalism losing, socialism gaining among US adults including Republicans; Washington Post columnist seeks to ban billionaires as bad for society.

On this week's show, Prof. Wolff discusses Wall Street money corrupting US elections and the facts of a declining US capitalism (wage stagnation driving inequality, rising health and education costs, falling real social security benefits, unequal wealth of people of color vs whites, gross worsening of US income and wealth inequalities). On the second half of the show, Prof. Wolff is joined by David Van Deusen, President of Vermont state AFL-CIO, to talk about the victories of progressive unionism.

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.

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 workplace. Doing better than capitalism will require deciding which of these three kinds of "socialism" (or what combination of them) will be the better economic structure.

In this episode, Prof. Wolff presents updates on the economic aspects of the Covid pandemic: lockdowns vs vaccines, scientific debate vs corporate advertising, long-term vs short term costs, the billionaires made by profiting from vaccines, and false claims of vaccine profiteers. In the second half of the show, Prof. Wolff is joined by former NY Times food-critic Mark Bittman to discuss his new book "Animal, Vegetable, Junk."

In this week's show, Prof Wolff presents updates on the efforts to finally add dental, vision, and hearing coverage to Medicare, the effects of Trump's tariffs on China, and the contradictions between capitalist profiteering and healthcare. In the second half of the show, Wolff is joined by Professor Manny Ness to discuss worker insurgencies and political organizations in the global South today.

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.

On this week's show, Prof. Wolff comments on how and why "consumerism" matters and on why Biden's "progressive shift" is both like and unlike (far more limited so far) FDR's. Wolff then interviews two Canadian professors of labor studies, Bryan Evanson and Carlo Fanelli, on the stakes for labor in fighting for a "living wage.

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 FDRs response to 1929.

On this week's show, Prof. Wolff discusses Congress Bills H.R.51 giving statehood to Washington, DC, and H.R.1 countering GOP efforts to restrict voting; and Biden's tax reforms to help pay for new and expanded government programs. In the second half of the program, Wolff interviews Prof. Michael Hillard on the role of labor in the dramatic rise and fall of Maine's paper industry, a parable for the economic difficulties facing the US today.

On this week's show, Prof. Wolff discusses Bernie Madoff's $ 82 billion swindles and capitalism's incentives for swindling, the economics of wars in Iraq and Afghanistan, US government's racist housing policies, and refuting the defense of capitalism as "lifting people out of poverty." On the second half of the show, Wolff is joined by Professor Nina Banks to talk about economics and correcting the undervaluing of community building work by women of color.

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.

On this week's episode, Prof. Wolff talks about Rolls Royce's $400,000 cars, unionization defeat at Amazon, why Biden boom is just hype, and progressive wins in the New York state budget. On the second half of the show, Wolff welcomes Green Party leader Dr. Jill Stein to discuss the achievements and goals of an anti-capitalist 3rd party.

On this week's show, Prof. Wolff discusses how the US home rental market is failing over 20% of all renters, and the basic flaws in Biden's $2 trillion infrastructure proposal. On the second half of the show, Prof. Wolff interviews Prof. Marcelo Vieta on his studies of workers' success in taking over enterprises mismanaged by capitalists.

After clearing away the Cold War debris that blocked discussion of Marxism's insights since 1945, we focus on Marxism's core contribution to (1) thinking about and (2) changing modern capitalist society. That contribution is class structure and class struggle. Marxism explores how class struggle exists in capitalism, how it influences all of social life, and how it changes over time. Marxism also envisions the end of class struggles as its social change goal now.

On this week's episode, Prof. Wolff talks about the structural failure of Biden's American Rescue Plan, Nigerian mass workers' movement, private electricity for the US rich, big vs small business struggles, and why opposition to lockdowns only prolongs Covid. On the second half of the program, Wolff interviews author Rob Urie on criticizing capitalism.

On this week's show, Prof. Wolff discusses the US coal industry decline, Brazil's Covid disaster, economic surge after Covid, and Elizabeth Warren's wealth tax proposal. On the second half of the show, Wolff interviews investigative journalist Bob Hennelly on the gap between Biden regime actions and pronouncements, and the hard realities of economic depression and "food insecurity.

On this week's show, Wolff talks about the taxing of CEO pay in the US, the immoral and self-defeating vaccine policy, and LeBron James speaking out on social issues. On the second half of the show, Wolff interviews attorney James S Henry on the struggles for a stock transfer tax in New York, the US and globally.