Updates on China's currency moves, UK'S Corbyn like US Sanders, adjuncts unionize, Pepsi and Coke offer self-serving health advice, Rand Paul's misunderstanding of economics. We answer questions about what happened to US real wages from 1974 to 2014. We analyze why no consensus about global warming, what are toxic effects of rising inequality, and role of psychologists in advertising.
Updates on Sawant victory, fines for defective products, slowing wages, Puerto Rico as the US Greece, economics of refugee tragedies, and crooked banks' fall guys. Response to listener questions on worker self-management. Major discussions of Germany' economic strength today and how and why political economy of capitalism is basically irrational.
A conversation about capitalism with two brilliant minds, Cornel West and Prof. Wolff, together in a rare joint appearance.
Updates on Coke vs Pepsi war, price gouging on cancer drugs, Corwyn good for UK Labor Party, and new Pope's strong anti-capitalist speeches. We respond to listeners' questions on guaranteed basic income and on why public employees are not an economic negative. Major attention is given to supporting countries that refuse to pay certain govt debts and especially to Greece in a review of is dramatic recent struggles.
Prof. Wolff talk about Greece and explains why the furor over a secret contingency plan to leave the Euro and go back to a Greek currency is misplaced and inappropriate on CPRmetro radio.
“Winners and Losers in Today's Shifting Capitalism”
Today's program focuses on two alternatives to capitalism. The first is an alternative to how capitalism organizes enterprises in terms of their internal workings and relationships. We examine workers self-directed enterprises: how they work and how they compare to capitalist enterprises. In the program's second half we look at an alternative to how capitalism organizes the economy as a whole: the socialist tradition that has evolved multiple different forms in the world today.