In this week’s Economic Update, Professor Richard Wolff devotes the program to understanding government spending, specifically how it shapes the larger society. In this discussion, he focuses on two questions: 1) What is the government spending on? and 2) How is that money going to be used, and who benefits?
If government spending only flows to capitalist corporations, they will use it to reproduce capitalism, including its inequalities and injustices. This is a crucial impact of government spending that is rarely examined. The alternative — spending on worker co-ops — is explained and explored as a better alternative.