Economic Update on WBAI Aug 20

This episode focused on the previous weeks' major events, including the S&P downgrade of US debt, extreme stock market gyrations, and major signs of broad economic decline. Visiting guest, Professor Immanuel Ness, touches on the history and current prospects of worker-controlled enterprises as alternatives to capitalist enterprises. Professor Wolff also addresses q uestions from listeners' regarding credit markets and the need for critiques of capitalism to recognize and leave space, in post-capitalist economies, for economic individual initiative and creativity in establishing new enterprises.
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.We will focus on wages, jobs, taxes, and debts - and on interest rates, prices, and profits. We aim to explain why certain economic changes are happening and other changes get postponed or blocked and we will explore alternative ways to organize enterprises, markets, and government policies. Economic Update is a weekly show for people who want to understand and change not only their own financial situation but also the larger economy we all depend on. 
Economic Update is in partnership with

WBAI Aug 20 2011

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