What is modern monetary theory? Richard Wolff joined Thom to explain. MMT or Modern Monetary Theory is becoming a point of contention in the Democratic Party,. But what is it and what does it mean? How does a government, or a political candidate use modern monetary theory, Can modern monetary theory help end the debt or the national deficit? What would the effects of modern monetary theory be on the average working person?Read more
This article originally appeared at CommonDreams.org.
As capitalism drives itself into ever-greater inequality, instability and injustice, its critics multiply. Worried defenders react in two ways. Many dismiss the criticisms. After all, capitalism has been around a long time and weathered ups and downs before. They presume or hope that criticism will fade as little really changes despite the critics, and frustrations set in. It’s just losers who complain. The winners will surely carry the system forward. Some defenders insist that there simply is no alternative to capitalism, so criticism becomes pointless.Read more
This article originally appeared at Truthout.org
The crises affecting the political economies of the U.K. and U.S. are strikingly parallel. The 2008 capitalist crash hit and hurt both badly. Each arranged government bailouts of their major banks and many large corporations. After 2008, they both imposed real economic suffering — austerity — on the mass of their people. Finally, in both countries, pre-2008 trends toward greater economic inequality accelerated post-2008. Those trends in turn provoked deepening political and cultural divisions.Read more
Has the FED ever been politicized the way Trump is proposing now and what would be the result of that? Prof. Wolff joins The Thom Hartmann program to answer questions about Donald Trump's attack on the FED and what it means for our country and economy.Read more
Prof. Wolff joins Brian Becker and John Kiriakou on Loud & Clear to discuss Bernie Sanders' Fox News Town Hall meeting in Pennsylvania.
On this week's show, Prof. Wolff presents updates on LA strippers strike, Trump fails to end US trade deficit, UN reports on protests against capitalist inequality and gov't repression of those protests, GM...READ MORE
Prof. Wolff answers a question from a Patron of Economic Update.
The patron asks: Is it necessary for a socialist political party to exist, as Lenin emphasized in his books, in order to support and lead the labour movement fighting capitalism or not. If yes, why don't you and people in this struggle don't create one, or join the Communist party? If not, how we're going to fight this class struggle without an organized party?Read more
Prof. Wolff answers a question from a listener from Tampa, FL.
To what extent do the owners of the country: the billionaires, the CEO's and the people who live only off their investments (and do not work for a living- aka the idle rich)- to what extent are they threatened by low and moderate income people who have a right to health care, a living wage, affordable housing and no worry about college debt? To what extent does a comfortable working class and a comfortable moderate-income class-- threaten the super rich? Another way to ask this is to put this is: Do the super-rich want the rest of us to be uncomfortable, economically speaking? Why?"Read more
US and China: 1 Global Economy, 2 Giants - Tariffs, Competition, Deals: What’s Coming
These programs begin with 30 minutes of short updates on important economic events of the last month, then Prof. Wolff analyzes several major economic issues. For March 2019, these issues will include...READ MORE
This week on Economic Update, Professor Wolff gives a shout out to the striking Oakland school teachers and delivers updates on the dangers of declining pensions, a bank fined for helping wealthy clients evade taxes, the U.S. and the EU in...READ MORE
A patron asks: Is religion an opium of the people? Is religious faith generally harmful to worker solidarity or cooperation? I know a catholic priest founded Mondragon, but most of the anarchists fighting Franco and establishing worker controlled industries were anti religious before the civil war ended...
Wolff joins News.Views.Hughes to discuss reports that the Trump Administration intends to limit or ban Chinese telecommunications equipment by next week.Read more
Wolff joins Hartmann to discuss the US' slow and deliberate destruction of Venezuela.Read more