Economic Update – October 19, 2018

Economic Update

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. Click Here to listen to the current episode of Economic Update with Richard D. Wolff.

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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 … Continued


Economic Update

Launching a New University

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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. With Host Richard D. Wolff.


Economic Update

Keynesian Vs. Marxian and Neoclassical Economics

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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.


Economic Update

Gov’t Take-over Not Always Socialism

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This special edition 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. With Host Richard D. Wolff.


Economic Update

Capitalism Invites Deepening Criticism

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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. With Host … Continued


Economic Update

Capitalism’s Problems Provoke Oppositions

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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, … Continued


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. With Economics Professor Richard D. Wolff.


Economic Update

Capitalism: Problems and Pushback

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Updates on social costs of criminalizing marijuana, US food outlets taken over by foreign conglomerates, capital labor conflict in India, Trump’s Signature Bank swamp, New Zealand makes 10-days paid domestic violence leave mandatory. Interview with Matt Christman and Will Menaker of the Chapo Trap House podcast phenomenon: how and why its mix of comedy and … Continued


Economic Update

Hiding Capitalism’s Failures

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Updates on Europe’s higher labor force participation; Cuomo campaign fakes “small donations”; US restaurants decline as pinched incomes switch to food delivery; “market” housing system causes homelessness; education fails to overcome black-white wealth gap. Interview with Dr. Harriet Fraad on causes and consequences of US declining fertility rate. With Host Richard D. Wolff.


Economic Update

Doing Better Than Capitalism

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Updates on New Zealand firm succeeds with 4 day workweek; Vienna’s public housing successes; Fordham adjuncts’ union wins big; Burberry destroys $ millions in new clothes; precarious US jobs worsen alcoholism among young; US airlines raise profits by shrinking toilets. Interview on collapse of Toys-R-Us chain (causes and consequences) with worker Cheryl Claude and organizer … Continued


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