In this week’s Economic Update, Professor Richard Wolff discusses how the capitalist political economy can explain the Baltimore bridge disaster; why raising minimum wages helps big versus small businesses; and how cities can lower rents for their citizens, as Kingston, New York just did.
Professor Wolff concludes with an Interview with Professor Jared A. Ball on the myths of black buying power and black capitalism and the role such myths play in supporting capitalism. Jared A. Ball is a Professor of Communication and Africana Studies at Morgan State University in Baltimore, MD and the author of The Myth and Propaganda of Black Buying Power. He hosts the podcast “iMiXWHATiLiKE!” and is co-founder of Black Power Media.