Updates on successful Oregon teaching assistants’ strike, evicting the homeless, law limits unpaid internships to 4 weeks, and universities become businesses. Response to our audiences on the economics of war and military in US – “the elephant in the economy” – and on political corruption in the new budget. Major discussion of the sharp decline in most Americans’ wealth since 2007 (no recovery there either) coupled with widening wealth gaps between whites and both African-Americans and Hispanic-Americans.
Demokratisierung der Unternehmen statt Staatsinterventionismus Die Linke braucht neue Ansätze und Visionen, um erfolgreich in der gegenwärtigen Krise agieren zu können.
Updates on economics of oil price collapse, resumption of US-Cuba relations, lost middle class, and the economics of Uber car service. Response to questions on upsurge of union organizing and on Supreme Court anti-labor ruling. Major discussion of why both men and women in the US are leaving the labor force.
Updates on Mexican farm exploitation, Grenoble takes down advertising, US teachers underpaid, and cutting workers' pensions. Responses to listeners on Harvard and Yale as full participants in capitalism's defects. Analyzing modern "economics" as a discipline from Adam Smith to Karl Marx and since.
Links for radio program are posted below:
Professor Wolff says every capitalist tries to systematically reduce wages, then can't sell what those wage workers have produced.
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.