Ask Prof Wolff

A Patron of Economic Update asks: "I stumbled upon your video about dialectics about a month ago and I was wondering if you could do more? I appreciate that you made the connection between economy and philosophy."

A Patron of Economic Update asks: "Dear Professor Wolff, could you discuss 'economics' at not-for-profit academic hospitals? How do these hospitals afford the salaries of highly paid administrators (CEOs, Deans, Chairs, etc) who do not contribute to surplus labor (patient care)? Are some of these hospitals using 'nursing shortage' as an excuse to implement austere measures by loading more work on...

A Patron of Economic Update asks: "Can Prof Wolff please explain what it means when a country declares bankruptcy? Like in Sri Lanka?"

A Patron of Economic Update asks: "Hello Prof. Wolff, I came across this article that shows there's a study on 'Re-imagining' Capitalism ( https://hewlett.org/newsroom/major-philanthropies-launch-effort-to-establish-multidisciplinary-centers-at-leading-academic-institutions/ ). Why is the Hewlett Foundation engaging Howard University's Center for an Equitable and Sustainable Society? Could this be...

A Patron of Economic Update asks: "I have always been interested in how workers would build personal wealth and assets in a socialist society like how they usually do in capitalism.  What would personal investments look like?"

A Patron of Economic Update asks: "Can you be both a Marxist and a market socialist and, if so, how?"

A Patron of Economic Update asks: "Prof. Wolff could you please comment or give your analysis regarding the petrodollar, its impact on global markets, geo-politics and the recent news that the Yuan may soon overtake as the leading world's reserve currency? Most notably I'm interested to know how probable this event is and its impact on the United States economy and domestic politics, etc. What can...

A Patron of Economic Update asks: "I was wondering what Prof. Wolff's opinion is on this video (youtube.com/watch?v=xguam0TKMw8) in terms of the accuracy and prediction. It's from billionaire Ray Dalio talking about economics and the US decline and the future. I'd love to get your take."

A Patron of Economic Update asks: "My original understanding of your position and approach to creating more worker coops was that it could NOT really be successfully done by any government forcing changes in the internal structure of enterprises. I have heard that during Stalin's time that was tried, but failed. My understanding of your position was that, while the government could help in some wa...

Two Patrons of Economic Update ask: "Can you please explain the difference between the government borrowing money (from the corporations/rich/other countries) vs. printing money? What are the differences between government bonds for financing infrastructure projects or public goods, and borrowing money from corporations and billionaires for those same projects and services? What if bonds are bough...

A Patron of Economic Update asks: "What are some potential macroeconomic consequences if a significant number of corporations began to experience a profit rate that is near 0 or even less than 0? Thank you!"

A Patron of Economic Update asks: "Hi, Prof Wolff. I work as a pilot in the airline industry. We enjoy great pay, benefits, work rules, etc. compared to other labor in the USA. This is because we have strong unions. There is a company that is doing great financially, has publicized massive growth plans, but is dead-set against meeting pilots' demands for an industry competitive contract. It almost...