Economic Update with Richard D. Wolff

This episode provides updates on economics vs. the "free press," Nevada vs. public education and bikes displacing cars in Europe. We also respond to listeners' questions on the economics of closed ACA health co-ops and on inflation's dangers and impacts. Finally, we have major discussions on the Massachusetts Senate bill to tax rich universities and answering the question: "What is Capitalism?"

Updates on Spain's new left government, no NFL money for concussion research, Harvard runs like a business, Fresno research proves widespread hunger. Responses to questions on why corps buyback own shares and why the "new" gig economy is not new. Major topic: comparing old socialism (govt intervenes in economy) to new socialism (democratizing the enterprise).

Updates on FED's interest rate hike, Peter Drucker on "like a business," gun business, and oil economics. Response to question on whether it is China that is slowing the world economy. Major discussion of Greek and Spanish austerity politics and how major oil, banking and auto corporations proved why we can and must do better than capitalism.

Updates on denying bailout for Puerto Rico and gross wealth inequality in US and Wisconsin. Response to listeners on guns and the capitalist profit motive. Interview with Prof. Cathy Mulder on transcending capitalism via worker cooperatives.

Updates on Portugal joins Greece against austerity, US austerity especially in Puerto Rico and Illinois, useless laws for banks, words not action in Paris. Major discussions of Thanksgiving economics, Germany and refugees, France and terrorism, US airlines cheat for profits.

Updates on economics of immigration, economic alarmists, Ireland as tax haven. Response to listeners on role and place for small business in worker-coop based economy. Interview with Dr Harriet Fraad on crisis for middle-aged whites in US today.

Updates on Japan's Recession, half of New York City economically in trouble, ACA deductibles undermine affordability, Million student March, another crooked capitalist. Response to listeners on private vs public enterprises. Major topics: small vs big business and big ideas not being discussed in campaigns.

Updates on Greek and Portuguese austerity struggles, obesity and Coca Cola, importance of U of Missouri, JC Penney's fake sales, and Macy's urgent sales. Response to listeners on politics, economics of TPP. Major discussions of (1) upcoming FED decision on interest rates and (2) economic causes of gentrified US cities.

Updates on capitalism vs higher education, real costs of apps, how other half banks. In depth analyses of projected economic downturn in 2016, capitalist inequality and housing changes, and how capitalism affects sports.

November 1, 2015 Today's episode includes updates on Obama's harshness regarding student debt, how much corporations and the rich abuse tax havens, MIT rejects fossil-fuel divestment and Tylenol's profit over safety practices. Prof. Wolff responds to listeners on where the US economy is now headed and discusses the problems and prospects of teaching economics after the 2008 crisis during an interv...

Sept 7, 2015 This week's updates cover extreme poverty, workers' victory over tech giants, NFL concussions, Trump's economics analyzed and Oakland for worker coops. Prof Wolff responds to listeners questions on workers who lost out from 2007-2014 and on the injustice of state and local taxes. We close with major discussions of last week's stock market gyrations and the resurgence of socialism.

Sept 14, 2015 This week's updates include the economics of refugees, Ford buys French political wife, LAs homeless, Labor Day history, Seattle Teachers strike and why Japan's jobs are ever more precarious. Prof Wolff responds to listeners on why rising wages need NOT mean rising prices. Interview with Dr. Harriet Fraad, mental health counselor, on the psychological pains, personal suffering, and h...

Sept 20, 2015 This week's updates include the GM settlement, a look at why the Census Bureau proves there is no recovery for 90% and why GE is moving jobs overseas. Prof. Wolff responds to listeners on FED agonies over interest rates and how capitalism mishandles unemployment. We end with a major discussion of WSDEs and capitalist corporations.

Sept 27, 2015 This week's updates include a look into new Detroit book, the Mayor's austerity policy in Chicago, homeless school children and soaring medical insurance deductibles. Prof. Wolff responds to listeners on the VW scandal and the Pope's statements on economics. Prof. Wolff also interviews Prof. Ian Seda-Irizarry on the current crisis in Puerto Rico.

This week's episode includes updates on the Swedish plan for peaceful transition beyond capitalism, ripoffs in car insurance and Ferguson, MO's credit downgrade. Prof. Wolff's response to listeners about the CA drought and the best solution for corporate abuses like VW's. Major discussions include what class means and what is at stake in the different meanings of class and guaranteed income vs gua...

October 11, 2015 This week's episode includes updates on the attack against Planned Parenthood and Irish and French unions' current initiatives. Prof. Wolff responds to questions on the VW scandal and the TPP deals. The second half of the show includes an in-depth update and analysis of the ongoing Crisis in Greece with Prof. Harry Konstantinides.

Today's episode includes updates on a monstrous beer merger, buying the US presidency, homelessness in Hawaii and the Canadian election results. Prof. Wolf responds to a listener's question on the relationship of individualism to capitalism and socialism. We end on a major discussion of the history of socialism vs. capitalism with a focus on the specific place of democratic socialism.

October 18, 2015 This week's edition of Economic Update features discussion on: saving capitalism, looming economic downturn, 250,000 against TTIP in Berlin, US plan to give Puerto Rican taxes to banks, and a one-on-one interview with Ms. Laura Flanders, an independent journalist on co-ops vs capitalism.

June 14, 2015 Today's updates include an analysis of unemployment numbers to show what they hide as well as reveal. Responses to listeners' questions expose the economics of lotteries and why the largest US corporations have recently used their profits to buy back their shares in the stock markets. The second half of the show features an in-depth interview with Prof. Sohnya Sayres where we explore...

June 21, 2015 Today's show opens with Goldman Sachs' injustice and then we move on to the 'independent contractor' ploy just busted at FedEx and Uber followed with Wisconsin governor's attack on public universities to lower taxes on corporations and the rich. In the second half of today's show, we interview Prof Kristin Ross on her new book about the significance of the Paris Commune where workers...

June 28, 2015 Today's updates begin with the victories of alumna, faculty and students over the autocratic board of Sweet Briar College in Virginia. We then discuss the uniquely awful US record on paid leave for workers and an interesting move by cities (ex: Santa Cruz, CA) to disconnect from corrupt big banks. We have fun with the US gov't leaving the Waldorf Astoria hotel in New York and we cele...

July 6, 2015 We are beginning a new 3-week experiment with a new format that includes two in-depth analyses, one in each half of the show. We begin this update by considering the different meanings of class, class analysis and class struggle across human history and why those differences matter so much now. Today's second half explores how socialism evolved from a basic alternative to capitalism i...

July 12, 2015 Continuing our new format experiment of two in-depth analyses, the first half of today's show we discuss how The New Deal was both a victory and a defeat. Both offer crucial lessons for today's world. In the show's second half, we'll dive into a critical review of labor's short and long-run goals, labor's defensive decline, and a new strategy built on lessons of that decline.

March 29, 2015 In this episode of Economic Update we take a look at the Trans-Pacific Partnership secrets, the Heinz-Kraft merger, the overly costly and underperforming US medical care system, the fines for Graco selling faulty child car-seats, China's real-estate bubble and the estate tax repeal being pushed by Republican House Representatives. We will also hear responses to listeners on property...

April 5, 2015 This episode of Economic Update features a look into the car parts industry, why and how German courts cut Uber, how Russia's economy is growing despite economic sanctions, why there's no recovery in declining teaching positions in the US for new PhDs in the humanities, and the impact of huge Mexican worker strikes against the agricultural giant Driscoll. We also respond to listeners...