Robert H. Lustig, M.D., MSL, is professor of pediatrics in the Division of Endocrinology and a member of the Institute for Health Policy Studies at University of California, San Francisco. He is the former chairman of the Obesity Task Force of the Pediatric Endocrine Society. He is the president of the nonprofit Institute for Responsible Nutrition, dedicated to reversing childhood obesity and Type 2 Diabetes. https://www.youtube.com/watch?v=gmC4Rm5cpOI http://www.penguinrandomhouse.com/books/310422/fat-chance-by-robert-h-lustig/9780142180433/
The question is Kellogg Foundation (W.K.K.F) in partnership with NCEO / Employee Ownership & Economic Well-Being - just published a study in May 2017 about "Employee Ownership" . Is this one of many efforts for large funders and money holders to 'coop' the worker owner and democratic workplace movement? With the "Ownership Economy"? To do one of many things such as grab the attention of potential business owners (large and small) to perpetuate their idea or mental model of what transitioning into a worker owner/democratic workplace looks like, how it's done, why it's done? A way to use 'worker ownership' to promote economic growth? Please elaborate if you all at D@W have time. I don't sense any democracy in their article, philosophy or study - nor any mention of some of the more social and health factors of worker owner businesses. I sent the pdf. to the info@daw email. please find it more directly it at this link https://www.ownershipeconomy.org
Dear Professor Wolff, I very much enjoy your regular economic update and other work. As you open your broadcast, you have worked in academia most of your life. Given the recent hunger strike at the Yale University, could you address in one of the following Economic updates the question of democratic running of academic affairs (departments, schools)? The current model, promoted worldwide, is at best meritocratic, but more commonly managerial and business-derived. It produces the results you described for Yale. How should an academic department or an institution conduct itself in a democratic manner, without compromising quality of teaching and research? I am aware that the Mondragon Cooperation has founded its own university. If you are familiar with it, could you perhaps talk about how it is organized and run, and if it is different from other institutions at all?
Hi Professor, and greetings from a listener in Australia.
Several episodes ago you spoke about a new tax being levied by our Government on big banks.
It may interest you to know that Australia's unique (and terrible) tax arrangements mean the taxpayer will likely pick up the entirety of this new levy, rather than the banks themselves.
Many wealthy Australians take advantage of a system called 'negative gearing', which allows property owners to lose money on their property and then claim the loss on their taxes, vastly slashing their taxable income.
This system is one of the (many) reasons why property ownership for the lower classes in Australia, particularly young people, has become an unattainable dream that the majority have given up on.
Our Governing Liberal Party (who are actually conservative, despite the name!) are staunchly in favour of negative gearing as a policy because their supporters benefit from it (and indeed the electorates with the most negatively geared properties are those of major Liberal politicians and ministers!).
Thanks again for your show. I'm a trade union officer here in Australia, but when America sneezes Australia catches a cold as they say, so I'm always keen to hear sharp, accurate analysis of what's happening over there.
Hi Richard, You had an economic update on youtube recently whereby you poked at Warren Buffet for his over-forgiving attitude toward one of the big banks, I think it was Wells-Fargo. He gives a good interview on how he thinks the super rich are actually under taxed here- his opinion is evident within the first few minutes. Could you comment? You're doing great work by the way! Thank you, Stephen (Ireland) https://www.youtube.com/watch?v=WQc0KiAXynY Youtube- Warren Buffet- How to get Wealthy in 2017
Dr. Wolff, I have read several of Resnick's books such as "New Departures in Marxian Theory" as well as attended his (recorded) class in Marxian Economics at Umass-Amherst but, I feel that the concept of dialectics is a potential weakness in my knowledge. Specifically, one of the difficulties I have in "New Departures in Marxian Theory" is the concept of negation when applying overdetermination for practical use. I follow that an overdetermined totality's negation is to find a set of essentialist causes then relate this back to the overdetermined totality and repeat the sequence in order to find contradictions or insights for the development of the relative truth/thought-concrete/theory. What would you recommend as books for understanding dialectical concepts as negation? Considering the radical nature of Marxian epistemology, would I find any use in taking an undergraduate philosophy course over Hegel and Marx?
What do you think about the situation of Portugal right now? A left government, no austerity, growth through the last 13 quarters, low unemployment rate and yet their bonds are being rated as being garbage by the big rating companies. http://www.economist.com/news/21719753-socialists-say-their-keynesian-policies-are-working-others-fret-about-portugals
Here is the link to my blog post about the relevance of the song, "Sixteen Tons" to exploited workers, both in the past, and in today's world: http://thesuspicionist.blogspot.com/2017/05/is-this-classic-song-real-national.html
You've pointed out that employees always produce more value for their employer than they receive in wages for that labor; that's how capitalism works. But has there ever been a systematic attempt to gauge exactly how much these numbers differ? I'm sure the rate must vary a great deal from industry to industry, business to business, job to job, but I'd be very interested to know if there are any examples of studies where researchers have attempted to put a numerical value on average exploitation of labor.
Even Upton Sinclair in The Jungle did not go easy on the church, the church has always been an accomplice to the few in bringing malice upon the masses. It is a conflict of interest, the people are evolving as they pursue new ideas to gain more equality, and those new ideas have led them to you as you provide alternative economic systems. The church will always be on the side of the elites and it will always be that way. Even Pope Frances attempts to separate himself from his predecessors, but when it comes to humane issues like gay rights, he won't cross that bridge and support their case. The masses want equality in all facets of life, and its time you step away from the institution that has a long history of oppression. Doug Eaker
Article that might interest Professor Wolff: Guardian UK, J Oliver Conroy, MAY 15 2017, "They hate the US government and they're multiplying: the terrifying rise of 'sovereign citizens' " -- makes direct links between the increase in right-wing extremism and the economic conditions in the farm belt (debt, foreclosures).
I would like to hear your thoughts on the idea, that Capitalism is merly an instrument to solidify a kind of world wide Neo-Feudalism with a new ruling class or, as it is called more often, "Elite", hiding behind institutions like countries and governments. Along these lines i have been thinking whether what we see all around the world is a form of ,as i would call it, "Class Colonialism". Moving the idea of colonialism into a new context. There are still territories, or as they would be called countries, but for the top class, these "bounderies" are merey suggestions that can be overcome easily. Not so for the rest of the population, the majority, which has to adhere to rules and controlls at said borders. The idea of exploitation still works in a world wide class context. As we have seen in the aftermath of the 2008 world wide crash banks have been basically exhonerated from any "wrong-doing" on a world wide scale by bailing them out through the tax dollars of the exploited lower classes and their future generations (the crazy thing here, i would like to point out, is the fact, that for instance US tax dollars went to bakns all over the globe, helping the "elites" across borders, suggesting that there is an actual world wide class at the top). Your thoughts? kind regards, Swen Gerards
It's hard to believe you haven't touched on Venezuela in any of your weekly updates. My question is if you could address why Venezuela is in such terrible economic conditions. All the major sources just keep saying socialism has failed etc. So I wanted to to hear a more honest perspective from you