What methods, lesson plans, content, concepts, and activities do you, would you, and/or could you use to keep students interested and engaged in economics?
Hello Richard, I have been following your economic updates since they went live on Youtube. Looking back, I noted how you there was more theoretical grounding of discussions e.g. Marx analysis of capitalism, from which one learned more about the instruments, contradictions and consequences of capitalism, for instance. It would be nice if a small discussion in the monthly updates would include a short theoretical slot so we also gain some in depth understanding of these issues and are also aware how to expand or apply some theoretical framework to broader issues.
in addition to the story, which Prof. Wolff covered in Economic Update: Economics of Tax Avoidance (2016.10.20) https://www.youtube.com/watch?v=yru0eUGT1uA#t=13m48s here it is: http://www.bloomberg.com/news/articles/2012-12-20/oakland-pays-17-million-for-nfl-raiders-as-cops-get- Certainly not the only story in the NFL of this kind. The NFL is also tax reducted. Many players have these odd charities etc. I also looked up once, which the biggest stadiums of the world were on wiki: https://en.wikipedia.org/wiki/List_of_stadiums_by_capacity Most are NFL stadiums. The NFL is the richest professional league of the world? For me, they are the absolute example of bread and games. It is also incredible to watch, how they spin all this shadiness in their TV channels. + there is the concussion problematic + systematic doping like in all professional sports (and no word about it) + possible game manipulations or how else can it be explain, that games still get decided by a wrong decision of the referees in times of video proof (like i.e. pass interference Falcons vs Seahawks last Sunday)? They are better at regulating their sports than soccer, boxing or ... wrestling though. Back to the raiders: Basically Oakland had it coming. The city got sucked out by the owner of the Raiders and now he will make another big deal. St. Louis Rams, now LA Rams, also similar story, I guess. This could be widened to big investments in sports in general for Olympia or soccer world championships. A couple years later former hosts like Greece, South Africa or Brasil etc. struggle with billions of Dollars debts and the tournament infrastructure often is rotting away unused. These mafia organisations like FIFA or IOC make profits worth xx billions of $ - and still get tax reductions.
What were the alternatives and what would have been the outcome?
Professor Wolff, I am currently studying Capital, Vol 1. and obviously a cornerstone of the entire thesis is the "Labour Theory of Value". Obviously, neo-classical economists favor "marginal utility" instead of the "labour theory of value". Can you explain "marginal utility" and how Marxist economics responds to this? Secondly, Marx refers to the "economic metabolism" several times and, to my knowledge, modern bourgeois economics refers to this as the "velocity of money". Below is a link to the St. Louis FRED and it clearly illustrates a plunge in the "velocity of money". Can you offer some insight into the importance of this metric? https://fred.stlouisfed.org/series/M2V Thank you for all you do! You are a breath of fresh air.
I know you've reported recently on the town/gown relations of Yale and Harvard. I thought you might be interested in what's happening in Princeton, New Jersey. Property taxes in Princeton are very high, in large part because much of the property in town is owned by Princeton University which is tax exempt. About 5 years ago some neighbors of mine filed suit against Princeton University claiming that the University unfairly gets tax exemptions on properties that are, in fact, being used for commercial purposes. After years of delaying tactics by the University, the suit was settled out of court last week, just before it was set to go to trial. Princeton University has agreed to comparatively modest contributions to help middle- and low-income homeowners pay their taxes. The University will contribute $2 million this year and $1.6 million in the next five years to a fund that will help lower income homeowners. There will also be some other contributions to various areas of the town over the next few years. We are glad that we got something, but the outcome doesn't feel just, especially to those of use who have been paying property taxes here for many years. Princeton University's endowment is $22.7 billion. https://www.bloomberg.com/news/articles/2016-05-02/princeton-s-neighbors-say-to-heck-with-freebies-we-want-cash http://www.towntopics.com/wordpress/2016/10/19/university-paying-18-2-million-in-tax-settlement/
Greetings Professor Wolff, You are here in Tampa tonight at the Musical but I am too poor to attend, you may actually be covering this proposal but it is my hope that you will do so on your Economic update program before the election. I am no economist but I find this proposal extremely frightening as I believe you will. Here is a link to the article detailing the proposal: http://www.ibtimes.com/political-capital/hillary-clinton-wall-street-financial-industry-may-control-retirement-savings. Please take the time to look into this prior to the election covering the topic on your Economic Update program. Thanks for all that you do and be sure to blame me by name for bringing this up. Thanks, peace and be well, Clay G. Colson Precinct 36 Committeeman Pasco DEC (2006-2015) Public need over corporate greed (813) 601-3391 "Only after the last tree has been cut down, Only after the last river has been poisoned, Only after the last fish has been caught, Only then will you find that money cannot be eaten."--- Cree Indian Proverb "If a nation expects to be ignorant and free, in a state of civilization, it expects what never was and will never be." Thomas Jefferson
I learned about the Multiplier Effect while a student. I have never understood how it works at the most micro level. I understand that injecting dollars into the system will result in multiplying the original injection by X, and X will vary based on how many times the money changes hands and is active in the economy. But I have never understood at the most basic level, how if Jeff gives $1 to Steve for corn, and then Steve gives $1 to Mike for a potato, how did it turn into $1.02. Is it somehow being coupled with unused money currently in the Economy
Hello Richard, What is the real inflation rate? Construction, food, and medical have gone through the roof.
In January the Labour party tried to add an amendment to the housing bill that simply stated that all landlords would have to ensure that the accommodation they rent out is "fit for human habitation" but it was voted down by the Conservative party. In a recent survey from the housing charity Shelter, it was found that 4 in 10 homes fall below acceptable standards. "Shelter said 24% of people were not able to save anything for unexpected costs after meeting their rent or mortgage, and 23% worried that their rent or mortgage charges might become difficult to pay if they rose. A further 18% of people could not meet their housing costs without regularly cutting back on essentials like food or heating, and 20% could not do this without missing out on social activities, the charity said. Nearly one in five, or 18%, of homes failed the criteria for decent conditions, with renters twice as likely as homeowners to live in places which fail on this element of the standard." There also seems to be a conflict of interest here as 39% of the Conservative MPs are registered landlords, as well as 22% of Labour party and 26% of the Scottish National Party. Even though landlords only make up 2% of the UK population their representation in Parliament is almost a third. "As well as renting property, 18 MPs have a shareholding, interest or directorship in at least one property company. David Tredinnick, a Conservative backbencher, is the director of Malden Mitcham Properties and declared £22,311.52 of income from his 12 hours work for the company each month." http://www.mirror.co.uk/news/uk-news/tories-just-voted-down-rule-7167072 https://www.theguardian.com/housing-network/2016/jan/14/mp-landlords-number-risen-quarter-last-parliament-housing-bill http://www.bbc.co.uk/news/uk-37655908
Dear Professor. i'm rasheed ali from jordan and i want to ask you how we could mang to have your book in arabic?
Dear Professor. I've been a fan and supporter of yours for many years. I've written many questions to Democracy at Work, mostly about environmental economic policy, cap and trade, etc. Today I must really ask for your help. The people of Oregon are extremely confused about a citizen initiatiative—Measure 97. It is a proposal aimed to raise taxes on corporations with sales larger than $25 million, but PBS has been attacking it claiming it would hurt co-ops. It has surprisingly divided even the most liberal voters, more than any other measure that I've been involved with. We would very much appreciate your POV.
Is it even possible for a tax system in the US to be fair given the ease with which wealthy people and organizations dodge tax liability?
Dear Professor Wolff, Thank you so much for your amazing work. I watched your recent video on the looming crisis and am very concerned. I know that you cannot predict what is going to happen but I wonder if you could say anything more about the possible forms this crisis might take, and what if anything we can do to prepare ourselves and our families and communities. Kia ora from New Zealand, Robin