10:00 AM Pacific Time: Fridays
Economics Professor Richard D. Wolff and guests discuss the current state of the economy, locally and globally. The program explores government policies, alternative ways to organize, and markets.
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 … Continued
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.
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.
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.
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.
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.
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
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.
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 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.
