Economic Update with Richard D. Wolff

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.

[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.

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.

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.

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.

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 police have grown and changed their functions so drastically in recent decades.

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.

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.

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.

Updates on New York City council votes minimum wage for ride-hailing drivers (Uber, Lyft, etc.), Trump store is 85% goods made abroad, charter school teachers strike in Chicago, contradictions in US-China trade war, VW ends gas car production in favor of electric in evasion of need for mass transit. Interview Victor Wallis author of Red-Green Revolution: The Politics and Technology of Ecosocialism.

Canada cuts corp tax cuts in race to bottom, Macron pleases business but outrages French people, Italy's new gov't budget provides for its people, Hillary Clinton joins right in scapegoating immigrants, and how "quantitative easing" policy after 2008 crash made the rich richer. Interview with Dr Harriet Fraad on psychological implications of the US mid-term elections.

Updates on poverty in California, childhood obesity in US, economic fallout from (real meaning of) Trump steel tariff. Prof Wolff responds to questions by explaining how US politics has sustained US capitalism and what the politics of change will require.

Updates on LA vote on public bank; contradictions of Trump's "nationalism;" big business criticism of tariffs; corporations like 7-Eleven use immigration crisis for profits. Major discussion: the urgent social issues that elections ignore or hide.

Prof. Wolff continues his interview with the co-founder of Cooperation Jackson, Kali Akuno, on the Mississippi development project focused on worker co-op.

This week's updates include: massive international study of profit-driven food production, the huge costs of contemporary loneliness, police raid Deutsche Bank, Falling house prices, Belgium follows France in mass street demonstrations, and US economy hurt by poor incomes of Millennials. Interview with Kali Akuno, co-founder of Cooperation Jackson, the Mississippi development project focused on worker coops.

Professor Wolff continues his discussion of the economics behind the great U.S. anti-leftist purge ("McCarthyism") after 1945.

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.

Professor Wolff continues his interview with the founder of the worker owned Metis Construction Company in Seattle, Matthias Scheiblehner.

Updates on Amazon subsidized by New York, Virginia; French people act to limit corporate greed, Sears favors bosses in bankruptcy too, Pfizer ups drug prices despite Trump, California fires expose US economic divide. Guest Matthias Scheiblehner discusses why his Seattle construction firm converted into a worker coop.

Updates on plant closings, the post-NAFTA agreement, the economic costs of sexual harassment of women, the attack on China, and the failure of corp tax cuts to raise wages. Major discussions of US politics made dysfunctional by capitalism.

Professor Wolff continues his discussion of how capitalism demonizes government.

Updates on UK war on "Unexplained Wealth," why capitalism needs yet attacks government, historical reality of low wages in US, cozy deals between big corporations and credit rating agencies again. Major discussions of capitalism's oscillations between nationalist and internationalist phases (are we now moving backwards to nationalism again?) and once more on the inefficiency and immorality of markets as a mechanism of distribution.

Professor Wolff continues his discussion with Professor David Harvey on the U.S. Midterm Elections.

Updates on how China hits back economically; capitalism surviving in Italy through explosive debt creation; why lotteries have heavy economic costs; and how Grinnell College undergraduate workers successfully organized. Interview with Prof. David Harvey on a Marxist view of the US midterm elections: causes and consequences.

Professor Wolff continues his interview with Riva Enteen, editor of Follow the Money.

Updates on profits-vs-science and weedkiller "roundup," most Americans not better off than in 2016, WHO reports bans on corporal punishment of kids and how doing so saves money too, Janet Yellen warns huge corporate debts risk another major economic crash. Interview with Riva Enteen, editor of Follow the Money, a collection of KPFA interviews.

Professor Wolff continues his interview with Dr. Harriet Fraad on the US "Sugar Arrangements" industry.

Updates on latest foreign and US elections, the CEA document against socialism, growing inequality of billionaires' wealth, army represses report on costs and errors of Iraq war, and expose of Maine's subsidy for corporations by helping indebted students. Interview with Dr. Harriet Fraad on the US "Sugar Arrangements" industry.

Professor Wolff continues his interview with Lee Carter from the Virginia House of Delegates as they discuss why/how he won and more.

Updates on political economy of Trump/GOP attacks on China and their long term costs; parallel analysis of attacks on immigrants; Michelle Alexander on who today is "The Resistance;" and record funds pouring into US midterm elections. Interview with Lee Carter, a socialist elected to Virginia House of Delegates on why and how he won.

Prof. Wolff talks with Chris Hedges about his latest book, America: The Farewell Tour and more!

Updates on IMF prediction of slowing global growth, Bank of England warnings on accumulation of sub-prime debt, Nordhaus Nobel prize and market ideology, Dutch unions and others against corporate tax evasion, and signs of labor militancy in Marriott strike and profit-sharing demands of steelworkers. Interview Chris Hedges on his latest book: America: The Farewell Tour.

Prof. Wolff continues his discussion on immigration and capitalism.

Prof. Wolff continues his interview with Dr. Harriet Fraad on how public policies, past and present, serve corporate profits but undermine families, households and personal relationships.

Updates on UK's Liberal Democrats advocating serious reduction of wealth and income inequality, Sears CEO blames pensions for Sears' problems, JP Morgan predicts next financial collapse in 2020, failure to deal with opioid crisis, G-20 meeting in Argentina evades real issues, Europeans clash with US over trade with Iran, trivial SEC fine for Citigroup dishonesty with investors. Major discussion: political economy of immigration as a right-wing issue and an effective left-wing response.

Updates on Bloomberg finds US "among least efficient" providers of health care, Poland's unions demand wealth sharing role, money corrupts US politics in new way, Trump tariffs bad for many US corporations. Interview: Dr. Harriet Fraad on how public policies, past and present, serve corporate profits but undermine families, households and personal relationships.

Professor Wolff continues his interview with Black Socialists of America founders Z & Sean Champagne.

Updates on Chicago hotel workers strike and Philadelphia parking lot attendants organizing, Cuomo's centrist, money-dependent campaign, another socialist (Julia Salazar) wins election, McDonald's workers strike in 10 cities against employer's failure to stop sexual harassment. Interview: Z and Sean, two leaders of new BSA.

Professor Wolff interviews Professor Michael Pelias about the rationale and goals of launching a new Left University in New York City.

Updates on Tenth Anniversary of Lehman Brothers Bank collapse, assisting Ocasio-Cortez show how to finance socialist projects, Colin Kaepernick's ad for Nike and contradictions of capitalism. Interview with Michael Pelias on launching a new Left University in New York: rationale and goals.

This week's special edition of Economic Update deals with Keynesian economics as a theory that clashes with both the mainstream economics ("neoclassical") that celebrates private capitalism and with critical theories such as Marxian economics that are opposed to capitalism.

This special editon of Economic update deals with how and why government take-over of private corporations need not be and often is not "socialism" and why it is often done to strengthen private capitalists.

Prof. Wolff's continued interview from EU X S8 E 12 with Dr. Harriet Fraad on why U.S. workers don't rebel more against systemic deprivations.

Economic Update Extra: Professor Wolff's continued interview fromEU X S8 E11 with Troy Walcott.

Professor Wolff's continued discussion from S8 Episode 10 of how politics serves to sustain capitalism.

This is the continuation of Dr. Harriet Fraad's interview from August 5, 2018.

This is the continued interview from S8 E7 with the Toys 'R Us interviewees, Cheryl Claude & Charles Khan.

Prof. Wolff continues the interview with Will Menake and Matt Christman from Chapo Trap House.

Updates on new approach to Labor Day, DNC accepts fossil fuel donations, Turkey's crisis as typical capitalist instability, collapse of Genoa toll bridge, exploding gap between CEO and average worker pay, Gallup Poll on capitalism vs socialism in US.Interview with Dr. Harriet Fraad on why US workers don't rebel more against systemic deprivations.

Updates on Missouri vote for union position, the irrationality of student debt, economic sanction of Iran isolates and costs US for Trump political gains, Monsanto puts profits over cancer risks, Louisiana legislature punishes big banks for lending to assault rifle producers (not for money laundering, illegal fees, mortgage loan disaster etc.). Interview with Troy Walcott, striking Spectrum Cable technician.