Extremely unequal distributions of wealth and income continue to enable the richest and largest individuals and enterprises to manipulate the economy and control the political parties. The result is an economic structure disinterested in a democratically focused way out of crisis and decline.
- We ask if falling US unemployment rates and increased profits for large companies show capitalism can adapt and endure.Published on January 4, 2013VIDEO
originally appeared on Al Jazeera's Inside Story
As unemployment in the US decreases and large companies expand their profit margins, has the capitalist system once and for all proven its ability to endure and adapt?
The jobless rate in the US has dropped to its lowest level in four years. And the economy, which in 2008 appeared to be on the brink of collapse, is said to be recovering.
- Are Worker Co-Ops the “Cure” for Capitalism, or a (“Gasp”) Slippery Slope to Socialism?Published on December 30, 2012AUDIO
My 15MOF interview today will be with someone I have wanted to have on our program for some time, and that is Dr. Richard Wolff, who is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University here in New York City.
Credentials? He is Professor of Economics Emeritus, University of Massachusetts, Amherst, and has earned a BA magna cum laude in history from Harvard in 1963 and an MA in economics at Stanford.
- Published on December 30, 2012AUDIO
Updates on Marvins' "shared unemployment," $4 trillion profits hoarded by US corporations, and root issues of the "fiscal cliff." Discussion of solutions for unemployment. Responses to listeners: on pluses and minuses of China's economic growth and on the contradictions of "social investing."
We’ll discuss what the next phase of the economy should look like after the recovery is over. We’ll debate the value of growth — whether raw economic growth is, in itself, a good thing, or whether a happy, sustainable future with broad prosperity for all is possible without constant growth. And we’ll examine the major battles in Silicon Valley over intellectual property, likely to be one of the bulwarks of the next economy.
Joining Chris at 8 AM ET on MSNBC will be:
- Published on December 26, 2012AUDIOUpdates and discussion of pensions and guns, fiscal cliff, charitable tax deductions, Mondragon, the environment, and prison economics. On Economic Update with Professor Richard Wolff, Wolff and guests will discuss the current state of the economy, both locally and globally in relation to the economic crisis.
In capitalist enterprises across the US, when the working day ends and employees return to their homes, many stop at bars along the way. Signs invite them in for a “Happy Hour” of drinking. The implication is that the previous hours – working – are the day’s unhappy hours. Similarly, current mainstream academic economics (“neoclassical economics”) ascribes “disutility” to labor, an absolute and universal characteristic of labor per se.
- Published on December 17, 2012AUDIO
Updates on Newtown, CT. school shooting, global warming and the CIA, Hostess abuses workers' pensions, and growing gap between CEOs' and workers' pay. Discussion: (1) lessons of Michigan Republicans' assault on union finances and (2) causes and results of declining workers' conditions in US, Europe. Response to listeners: rotation of work in coop workplaces vs capitalist enterprises.
- Published on December 13, 2012AUDIOClick here to listen to the interview on WPKN.org Richard Wolff, Prof. of Economics at the New School in NYC, talks with host Richard Hill about the non-unionized labor actions that have occurred in the last few weeks at Wal-Mart and in the fast food industry, and places these struggles in their historical context.