Economics Professor Richard D. Wolff and guests discuss the current state of the economy, locally and globally. The program explores alternative ways to organize, markets, and government policies.
Economic Update – January 29, 2016
2 responses to “Economic Update – January 29, 2016”
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Listening to a program on RT I’m hearing that the shadow banking system has approximately $270 trillion in derivatives debt that is far and above our US government’s but you still hear from the austerity party that it is the government’s debt that is the problem. This Shadow debt swings like a wrecking ball in our economy causing it to swing wildly not because of natural economics but from this debt that overhangs the world’s economy. But yet main stream never touches this topic. What say you?
There was some mention in this episode of corporations moving countries in order to evade their host country’s tax requirements.
Question: How viable would it be to set up some kind of minimum international tax that corporations must pay to their host countries? The problem would be getting countries to agree I bet. The idea would be that, if a business benefits from a country’s infrastructure, then they should have an obligation to pay to upkeep that infrastructure. Actually implementing this would be extremely difficult I bet, but it could maybe reduce this problem.