Hi Professor Wolff, In your most Economic Update, Housing Crisis US, you mention that the standard of living for the bottom half of Americans has stagnated or dropped over the past 40 years. Do you mind providing a few links that reflect this data? Thanks a ton.
If passed, will TX SB1750 & 1751 convert the currently defined benefit plan for Texas teachers/retirees into a risky 401(k) style plan?
Would a planned economy reduce or eliminate the effects of long-cycles in an economic system? I don't see how people can continue on accepting capitalism for long if such waves are inevitable.
My question is about the increased use of self-serve checkouts in grocery stores. There are also self driving vehicles including the use of drones for deliveries. These are examples of technologies that will eliminate a significant fraction of jobs. As consumers, employees and citizens, what can we do to stem the tide of job elimination by automation?
My meager savings draw no interest at the bank. My 401K is long gone with the small stock portfolio I held. My collectable pssessions; 1st editions, firearms ( wish I had kept one at times listening to you and Ralph Nader) etc are too along with the curation headaches and equally volatile market. IF I were to invest any funds what ETHICAL options are there? Do Co Ops seek 'Start Up' strategems? Should I just invest in freeze dried Lima beans for the next collapse?
Dear Dr Wolff, Since you have followed the workings of companies like Uber on your show, I was wondering if you were familiar with the business dealings and economic philosophy of AirBnB. I found the below site, AirBnB Watch, this last week. I have long been skeptical of the "gig economy" as a model, so I have always been curious about the realities and community ramifications of AirBnB rentals. Although I’ve tried to learn as much as I can about AirBnB Watch's background and rationale, I’d appreciate the viewpoint of a well-seasoned (particularly Marxist) economist on the subject. Thanks so much for your weekly programs! I listen every week and keep an ear out for when you visit my area and/or places where my friends live. Best regards, Sascha, Boston MA
Dr. Wolff, as billionaires and corporations have largely neutered the impact of the mass of voters and made their concerns mostly irrelevant, raising the effective barriers to entry to the political process, what about establishing a "crowd sourcing" PAC of sorts in which people join by contributing $27.00, then as the 2020 presidential race nears those who belong to the PAC each get to vote for a progressive candidate using Jill Stein's ranked voting proposal, and the winner gets to use the crowd-sourcing funds to run for office?
Please point me to a link if there is one on this subject. Sick of banking w/one of the major ones which I have no reason to trust. Many thanks, Barbra
I am curious as to your position on an annual 10% flat tax on wealth for all households and businesses. Understanding that it would never happen in a capitalist environment, would it not generate enough revenue to equitably fund our government?
It's not your book "Contending Economic Theories" It seems I remember a book that focuses more on Capital Volumes 2 and 3 that would be a nice companion with the actual texts.. Am I crazy? If I'm not, what is it? Thank you, Professor Wolff.
I live in Los Angeles and would like to attend similar lectures here. Are Prof. Wolff's ideas only availabe live in NYC?
Oxfam, mostly known from the inequality reports like "Eight men own the same wealth as the poorest half of the world", have published this paper with analysis of the causes of inequality. Very similar to your analysis. Also covering "The false assumptions driving the economy of the 1%" and "A human economy designed for the 99%". Unusual clear analysis pointing to the richest people/corporations and their anti-social ideology and use of power to maximizing their profits at the expense of the welfare for everybody else. Full text and summary available as pdf here: https://www.oxfam.org/en/research/economy-99 Perhaps you could also contact the author of the paper, Deputy Head of Research, Deborah Hardoon?
Hello Professor Wolff, I love your work & podcasts (although I am certainly not particularly educated in the area of economics). I often get into discussions with people during my daily life, and let them know that I’ve always felt that the "Master issue" (the issue controlling all of its sub-issues, representation of the populace in gov't, legislation, never-ending war, climate change, healthcare, unemployment, incarceration, immigration, civil rights, mental health issues / depression, etc, etc, etc... the list goes on forever) in this country is wealth/income inequality and distribution… generally letting others know that most of our populace are getting poorer, while only a very small percentage are getting fabulously wealthier. A couple people responded to me with this... "everyone is getting wealthier, but a small percentage are getting a lot wealthier, while most are getting only a little bit wealthier, or maintaining status quo". Well, I've researched that notion, and apparently it is part of the "fixed pie vs expanding/variable pie" debate (whether there is actually debate about this, I do not know). While researching this, I ran across an article, by Chelsea German, which seemed to me VERY UN-convincing, with respect to this supposed "debate", at this link: http://humanprogress.org/blog/senator-sanders-fixed-pie-fallacy So, two questions... one, what is your view of "fixed pie vs expanding/variable pie"?, and two, where can I find definitive research/documentation proving, what I’ve always figured MUST be true, that most people are getting poorer (some of the recent research of Gabriel Zucman seems to indicate this, of which I've read only tiny bits, and his work is so voluminous that finding specific data proving would be quite difficult, and time-consuming). I suspect that the answers to my questions are probably more difficult than I was hoping, as it probably involves some type of economic/financial comparison of different time periods, involving various ratios/multipliers/dividers/equations to try to account for inflation and other variables… but I’m hoping not, and that you can provide some definitive data/charts/etc (I also suspect that as one rises on the income/wealth scale, their ability to accept/believe that most people are getting poorer drops off precipitously… and it would not surprise me to find that there have been studies, psych research, etc on this.) Thanks very much for your time, and consideration. Bob