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Professor Wolff receives hundreds of questions per week covering a wide array of topics, from economics and politics, to historical movements and current events. While Professor Wolff does his best to reply to some questions on Economic Update with Richard D. Wolff, he's received more questions than can be answered individually. Prof. Wolff will now provide video answers to his favorite questions on this page.
 
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Does a bank bail-in really exist?

Meaning where banks in trouble can seize depositors' money to cover their losses for poor or risky investment decisions they have taken?

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Can you please heavily cover the hidden systemic fentanyl-murders from the US Death System?

A few years ago my mom was murdered by the US Death System ultimately by a doctor/nurse-prescribed "low-dose" fentanyl patch with no antidote that has been used to murder many seniors and others before and since. State-sponsored murder all around--Dept of Public Health, FDA, Medical Board, Nursing Boards, Dept of Health and Human Services, pharmacies, AMA, and on. Here are related fentanyl-murder stories including the Vancouver Sun's that I came across from the many fentanyl-murder pages and groups online: The Unseen: "The program does not apply to patients in hospice or palliative care"--"respiratory failure" = State-sponsored Fentanyl-Murder All Around Every Day": http://www.nationalpost.com/express+scripts+limit+opioids+doctors+concerned/14219761/story.html http://www.latimes.com/local/lanow/la-me-ln-deaths-fentanyl-rise-los-angeles-county-20160415-story.html http://www.nydailynews.com/new-york/nassau-county-sue-big-pharma-opioid-epidemic-article-1.3232606 http://www.nj.com/healthfit/index.ssf/2017/06/doctors_raked_in_cash_to_push_powerful_fentanyl_as_nj_death_rate_soared.html The police wouldn't even investigate this most heinous murder since it occurred more than two years before I contacted them.

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Can you please heavily cover the hidden systemic fentanyl-murders from the US Death System?

A few years ago my mom was murdered by the US Death System ultimately by a doctor/nurse-prescribed "low-dose" fentanyl patch with no antidote that has been used to murder many seniors and others before and since. State-sponsored murder all around--Dept of Public Health, FDA, Medical Board, Nursing Boards, Dept of Health and Human Services, pharmacies, AMA, and on. Here are related fentanyl-murder stories including the Vancouver Sun's that I came across from the many fentanyl-murder pages and groups online: The Unseen: "The program does not apply to patients in hospice or palliative care"--"respiratory failure" = State-sponsored Fentanyl-Murder All Around Every Day": http://www.nationalpost.com/express+scripts+limit+opioids+doctors+concerned/14219761/story.html http://www.latimes.com/local/lanow/la-me-ln-deaths-fentanyl-rise-los-angeles-county-20160415-story.html http://www.nydailynews.com/new-york/nassau-county-sue-big-pharma-opioid-epidemic-article-1.3232606 http://www.nj.com/healthfit/index.ssf/2017/06/doctors_raked_in_cash_to_push_powerful_fentanyl_as_nj_death_rate_soared.html The police wouldn't even investigate this most heinous murder since it occurred more than two years before I contacted them.

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The "march toward socialism."

http://www.newsweek.com/trump-was-laughed-world-leaders-dissing-socialism-667785 "Repealing Obamacare 'is about stopping a march towards socialism,' Republican Senator Lindsey Graham recently said. Meanwhile, in other parts of the developed world, socialism is not something that sends people running for the hills. Most industrialized countries, for example, have implemented universal health care. Moreover, Norway was recently ranked the happiest country in the world, and it pointed to its strong state-support programs as crucial to achieving this accolade. Apparently, people like to know those around them have their back if times get tough." Well, if "socialism is still a dirty word, with just 35 percent of Americans viewing the system positively, compared with 60 percent who view capitalism favorably, according to a May 2016 Gallup poll," why is the President worried about a "march towards socialism? Sounds like he can see the writing on the wall, and fears losing his grip on his bank account, and his profits.

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A Russian bank had to be saved recently. Did Russia do it on the backs of its people?

Want to see if communists do it differently than here. In fact we need to know about all important countries, capitalist, socialist, India, China etc.

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do emphasize purpose of destroying the middle class that produced left leaders in US.

The real reason is white man's desire to control the rest of the world. what is happening in USA is only a an experiment they want to repeat at the world stage. When there is no middle class there is no stepping stone from poverty to riches. This means they are permanently the masters and the rest are permanently the slaves! even in WWII some oil companies in US worked with Franco so as to help the fascists......why? because Fascists in Germany and elsewhere were propped up by the business class who wanted to get rid of the menace of labor, socialists and the communists for good!...i hope you can fill in the gaps in my argument that I did not notice!

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and the jobs fled. Dystopia like Hedges mentioned from july 2015

https://db.tt/Ucdr8NiwJ0

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Cashless Society

Hi, Professor Wolf. Where do you stand on cashless society? Are we ready for it today, or we have to experience a dreadful economic collapse first? Would society embrace it? What would be the implications of dropping the paper?

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Adjuncts

Hi Professor Wolff. I recently obtained an MS in Mathematics and have found that it has afforded me few opportunities. Upon graduation I took a position as an "Adjunct Instructor" at a local community college. The pay is shockingly low and the work is very precarious, requiring me to send inquiries months in advance trying to manage to get the maximum 12 credit hours per semester. Even when given classes every semester, I go unpaid during the months of January and August, as there are no classes scheduled for these months. This past month I was unable to afford groceries and had to rely on family. I was hoping you might say something about the preponderance of Adjuncts teaching at universities and colleges (I believe the statistic is well above 50% now), or perhaps even do a story on economic update (I am a $5 dollar subscriber). I find most students have no idea what an adjunct really is. Indeed, even when I was a student, I simply assumed the part time faculty were well-compensated given their level of expertise. You're a real hero of mine and do a heck of a lot of good. Thanks for that. Hope you can answer this question.

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Why hasn't Dr. Harriet Fraad been interviewed about Irma and Harvey?

In the wake of cataclysmic physical and natural destruction and human displacement and suffering, I think her wise and caring perspective is urgently needed now. I'm sure she has had trauma training and worked with traumatized clients as a psychotherapist. I'm sure she can inform the general public on how trauma appears behaviorally and emotionally in individuals, what to do for and say to trauma survivors, and what social and psychological services are needed. I'm also sure she can give us an historical perspective on how trauma survivors have traditionally come together in communities to push beyond the wreckage of their lives and what is needed now legislatively and morally. I personally am tired of listening to the howling winds of Irma, the rushing waters of Harvey and the sympathetic but endless news reportage of weather conditions with no detailed discussions of longterm recovery plans. I want to hear what this gifted healer Dr. Harriet Fraad has to say.

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“Money generating", i.e. in the context of "e-money" and the role of private banks?

Dear Prof. Wolff,

First of all, thank you very much for the insightful and important talks about the principles and institutions governing our lives.

I'm from Switzerland and, as you may know, we have a political system which also includes direct democracy -- a couple of time a year, we vote on a few "Initiatives" (federal and/or local) created by the people (I spare you the details). Of course, it's beautiful in principle, but considering the context we live in, it's sometimes used by "far-right" or "business-class" partisans to promote their agendas, using fear and (designed/maintained) ignorance to manipulate the people.

This time, I just noticed that there's an interesting and promising Initiative in development, about monetary control. It's about "e-money making/generating" by private banks and by the State: towards the end of the 19th century, the Swiss people decided to include in the Federal Constitution a provision which says that only the (federal) State can print money. Today, the provision still exists (art. 99 Fed. Cst. of 1999).

But of course, today, printed money is only a small portion of the money (in the Initiative website [link bellow], they say about 10% of Swiss money is printed, while 90% is e-money). Although new technologies were created, the principle adopted by the people in the end of the 19th century only applies to printed money, and not to e-money. So private banks can, and do create money -- the vast majority of it actually. The Initiative's goal is to adapt the old constitutional provision to the present reality of money, that is, to take into consideration e-money too.

I was wondering if you could talk a bit about money-making, and the effects of the shift from State-printed-money-making to private-(e-)money-making (credits, bubbles, speculations, etc...). There are already some nice arguments and answer of criticism in the Initiative site, but I was interested in hearing from you. Of course, you don't have to focus on the case of Switzerland -- it would be just as insightful to hear about this process in overall.

Here's a link to the Initiative development, if you're interested (available in German and English): https://www.vollgeld-initiative.ch/

Kind regards,

Adrien Folly

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What is "Economic Nationalism?"

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adical political economy texts such as you might assign

Dr Wolff would yo please send a syllabus of introductory radical political economy texts such as you might assign to those with no awareness or a shaky understanding of the subject. Also, please ask Dr Fraad if she can do the same to help me understand mental health issues from a radical point of view as well. If the listeners or contributors to your show can help that's fine also thank you Larry Buchalter Berkeley California

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What if money went backwards?

Please excuse my weak understanding of money, but as I understand it money is created by the Government issuing a bond to have money printed by the Reserve and then that is distributed by the banks with interest. What I would like to know is would it be possible for money to go backwards? Instead of new dollars going to banks it would be given to all citizens equally as a type of universal income. The money would then be spent at the businesses that people shop. The businesses would put the profits into the bank. Other than the outrage of the top financiers, is my concept flawed?

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