Economic Democracy

Professor Wolff on The Real News Network: "Capitalism's Stunning Contradiction"

Professor Wolff says every capitalist tries to systematically reduce wages, then can't sell what those wage workers have produced.

Transcripts below.

Professor Wolff on The Real News Network: "The State of Workers' Wages around the World"

Economist Richard Wolff compares the stagnation of wages in the U.S. for the past 30 years to the increase in wages in emerging markets and explains why capital left America.

Transcripts below.

The Wages of Global Capitalism

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Economic Update: Labor and Unions

Updates on Ferguson and Portland as symptoms of economic decline, critic rejections of profit-driven business, Sen. Bernie Sanders for worker coops, homeless in New York City, and rising political lefts in Greece, Spain and now Ireland. Responses to listeners on supply-demand economics and "capturing" government regulators. Interview with Steve Early, activist and author, on the present and future of US labor movement.

Costs of Global Capitalism

The International Labor Organization (ILO) just released a report on December 5, 2014 (http://www.ilo.org/global/about-the-ilo/newsroom/news/WCMS_324645/lang--en/index.htm) sharply exposing what the development of global capitalism means and costs. Here are its key conclusions:

1. Real wage growth slowed again in 2013 (to 2% per year), remaining below pre-crisis rates of wage increase that averaged about 3%. 

Economic Update: Economics of Private Property

Updates on unpaid internships, extreme wealth, and economic perceptions. Response to listener questions on real economics of public pensions and of home refinancing. In depth analyses of private property and income and of economic regulation vs system change.

Economic Update: Capitalism's Personal Costs

Updates on Italy's general strike, opera economics, Miami baseball, and Argentina loans. Responses to listeners on economics of US children and on a new political party. Interview on personal and psychological costs of capitalism with Dr Harriet Fraad. 

Global Capitalism November 2014 Monthly Update

These programs begin with 30 minutes of short updates on important economic events of the last month. Then Wolff analyzes several major economic issues. For November 12th, these will include:

1. How the Absence of Economic Democracy Undermines Political Democracy

2. Economic Democracy and Revolution Inside Enterprises (Factories, Offices, Stores)

3. The Real Economics of Wages, Prices, and Profits

Economic Update: Extreme Capitalism

Updates on low Irish taxes on corps, interns fight back, thriving opium, VW brings new  labor relations to US, big banks caught cheating again. Replies to questions on domestic outsourcing and democracy of workers self-directed enterprises. Major discussions of college sports, the business oligarchy in the US and forgiving countries' debts.

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