Professor Wolff on The Real News Network explains how the holiday season places folks in temporary, low-paid jobs that keep the economy in a fragile state.
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%.
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.
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