This radio show originally appeared on KPFA 94.1
Marxian economist Richard Wolff joins us for the first half of the show to dissect the Eurozone crisis, and describe how it could change dramatically in the coming days.
Updates on Spain's government vs radical unions' responses to crisis, who gains most from expanding money supply, temp and low-paid replace middle level jobs, US dominates global arms sales. Analyses of who pays federal taxes and basic differences between capitalist enterprises and workers' self-directed enterprises. Responses to listener comments on (1) China's economic growth and (2) "capitalism with a human face"
Updates on Romney's economic plan, French socialists' employment plan, Yale wealth growth, and wisdom of world's richest woman. Interview Max Fraad-Wolff on Apple Corp's mixed picture as capitalist "success." Response to question on financial speculation in food products.
On Economic Update with Professor Richard Wolff, Wolff and guests will discuss the current state of the economy, both locally and globally in relation to the economic crisis.
Updates on corporations paying CEOs more than they pay in taxes; causes of coming food price spike; and strikes at Caterpillar in Illinois and Lonmin platinum mine in South Africa. Discussion of 50-year decline in US organized labor, drawing lessons from that decline, and using them to propose a new strategy for labor today. Response to questions about innovation and capitalism that challenge the criticism of capitalism.
Show #25 with economist Richard Wolff of DemocracyatWork.info & Robert Naiman of Just Foreign Policy by Clearingthefog on Mixcloud
Updates on European crisis (creative Spanish anti-austerity politics, Mondragon avoids worst of crisis, suicides in response to crisis), Chilean students' strike against privatized education as bad education. Interview with Jen Hill, co-founder of new social movement Democracy at Work - democracyatwork.info - explains nature and goals of economic transition to worker self-directed enterprises (WSDEs). Question answered on dominant US ideology that blames economic problems on the government.
This article originally appeared on on Truthout's website
This crisis is not going away. Officially begun late in 2007, nearly five years later, no end is in sight. Trillions in government-funded bailouts and interventions failed to do the trick. The private sector's hyped resilience disappeared. "Recoveries" proved weak, uneven and short-lived. The president who rode the crisis into power risks being ridden out by its persistence.
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