Economic Update: US Capitalism At The Crossroads
[EU S14 E04]
This week’s Economic Update Professor Richard Wolff discusses the special dimensions and qualities of the US labor movement's current dynamism; Thomas Piketty’s analysis showing how capitalism generates widening wealth and income gaps leading to crashes or simmering, divisive, and domestic resentments. Leading to the system itself becomes destabilized. Read More...
New Rules: ‘The Empire is Over’: America's Long Economic Decline
In this episode of the New Rules podcast, Professor Richard Wolff explains why you should not believe the media hype about the US economy’s “strong performance." Despite recent upbeat statistics, an economic and geopolitical storm is brewing – one that Biden can’t handle.
Read moreDanny Haiphong: China, Russia, Brics and the Decline of the US Empire
Richard Wolff joins Danny Haiphong to discuss his view on how the last year led to an acceleration in the decline of US hegemony and how economic war on Russia, China, and BRICS is shaping the new world order.
Read moreEconomic Update: As The Empire Crumbles
[EU S14 E03]
In this week's episode of EU, Prof.Wolff delivers updates on the mass closing of Greyhound bus stations around the U.S., the escalating strengths of Russian obstacles in Ukraine, the choice the UK faces between paying for the bombing of Yemen or funding their National Health Service, how Boeing's safety debacle propelled China into the lead of global automotive exports and how Israel has also been aversely affected by the shifts and changes of the world economy caused by the decline of U.S. dominance. Read More...
Dialogue Works: Why are China and Russia the US No. 1 Enemy?
Prof Wolff joins Dialogue Works and Michael Hudson to discuss various aspects of socialism, the economic systems in Europe and China, the impact of military interventions on economies, and the consequences of sanctions. They highlight the challenges and contradictions within socialist parties in Europe, the different models of socialism, and the role of military actions in shaping global economic dynamics. The conversation also touches upon the sanctions imposed on Russia and their unintended consequences on the global automobile industry.
Read moreThe Socialist Program: AI Plus Capitalism a Recipe for Mass Unemployment?
On this episode of The Socialist Program Walter Smolarek and Prof. Richard Wolff discuss the dramatic new report from the IMF showing that 40 percent of all jobs in the world could be impacted by the introduction of Artificial Intelligence. Fears are deepening about mass unemployment, exploding inequality, and other potential consequences of the integration of this new technology into the world capitalist system.
Read moreEconomic Update: Corporations vs Democracy
[EU S14 E02]
In this weeks show, Prof. Wolff analyzes the corporation. It stands as a basic institution blocking real democracy in our society. The corporation's structure and operations empower and enrich a tiny social minority at the expense of the people's wealth and democratic power. Like the critiques of slave plantations and feudal manors that preceded the disappearance of those systems, the growing critique of capitalism reflects but also informs critical social movements now. Read More...
Dialogue Works: Global Economy's Momentous Shift and Monumental Inequality
Prof Wolff, Michael Hudson join Dialogue Works to discuss economic challenges faced by countries like Argentina due to high levels of debt and inflation. The conversation delves into global movements advocating for debt forgiveness, emphasizing the potential impact on politics and economics. The speakers question the widely held perception of capitalism as the most effective system, attributing it to the ideological dominance established by the United States as a global empire. They discuss the evolution of capitalism, noting a shift towards finance capitalism or neo-feudalism and drawing a comparison between the economic approaches of the US and China. The critique extends to the lack of democracy within workplaces under capitalism, highlighting contradictions between employment structures and societal ideals of democracy. Additionally, the rise of the professional managerial class and the potential challenges posed by automatic intelligence are explored.
Read moreWhat Is to Be Done?
Article by Richard D. Wolff
"In 1863, the Russian social critic, Nikolay Chernyshevsky, published a novel entitled “What Is to Be Done?” Its story revolves around a central heroine, Vera Pavlovna, and her four dreams. It brilliantly intertwines her personal life and the social turmoil of Russia’s transition at the time from feudalism to capitalism. Chernyshevsky, a revolutionary imprisoned by the Czarist government, wrote a novel that was nothing less than a pioneering work of socialist feminism. In it, he also passionately appealed for an urban, industrial economy based on worker cooperatives, a modern and transformed version of Russia’s earlier agrarian communes. An appreciative Lenin entitled one of his most important political pamphlets, published in 1902, 'What Is to Be Done?'"
Read moreEconomic Update: U.S. China Decoupling Myth
[EU S14 E1]
Happy New Year! For our first Economic Update of 2024, Professor Richard Wolff discusses the myth of the current narrative of the United States disconnecting itself economically from the Republic of China. Read More...
Professor Richard Wolff and The Brock Press Discuss Transition to Worker Ownership
Professor Richard Wolff presented and discussed the potential of worker cooperatives with "The Brock Press" - a small Canadian business that recently converted into a cooperative. The conversation covered various aspects of transitioning to a worker cooperative model, emphasizing the importance of advocacy and raising awareness. The discussion touched upon scenarios where retiring business owners may choose to transition their enterprise into a cooperative, and Professor Wolff addressed questions about expertise in business and finance, highlighting the cooperative's ability to seek external expertise when needed.
Dialogue Works: Neocon Debacle and Declining Empire
Prof. Wolff joins Dialogue Works to discuss the current geopolitical situation, focusing on the conflict in Ukraine. He criticizes the miscalculations made by the Biden administration, citing three major errors in their approach. Wolff emphasizes the failure of sanctions against Russia and the inability to isolate the country, leading to a weakening of the United States' global dominance. He argues that the Ukraine war is a disaster, with Russia gaining dominance and the West facing difficulties in coordinating its efforts. Wolff also expresses concern about the impact on the U.S. political future, particularly for Biden and his administration. He concludes by highlighting the potential shift in European politics away from the U.S. and towards a more independent stance, influenced by the changing global dynamics.
Read moreThe Socialist Program: Don't Believe Everything You Read: Was the 2023 Economy Really As Wonderful As the Capitalists Say?
In this conversation, Prof Wolff and Brian Becker analyze the mainstream's optimistic view of the economy's soft landing in 2023. Wolff critiques the one-sided narrative, emphasizing capitalism's inherent instability, rising inequality, and global challenges. The discussion delves into the Democrats' struggles to formulate a compelling message for Biden's potential reelection, urging a more comprehensive debate on the flaws within the economic system.
Read moreCommunity Church of Boston: A Changing World Economy - G7, BRICS, Capitalism and Socialism
We are living through a fast-changing world economy. The dominance of the US since 1945 is now ending and being replaced by a Chinese-led multi-polar world. This in turn changes the nature of capitalism and the prospects for socialism. This talk explores the links among all these developments.
Read moreIndia & Global Left: US Labor Movement, Democrats & politics, Chinese Economy & NYT
Prof. Wolff joins India & Global Left in a discussion about the revival of the Labor movement in the US. The conversation delves into the role of the Democratic party and the state of the new Left in the US, especially in the aftermath of the perceived decline of the Sanders movement post-2020. Additionally, insights are shared regarding Prof. Wolff's perspectives on the reporting by liberal US Western press such as the NYT and FT on the apparent slowdown of the Chinese economy. The video concludes with Prof. Wolff offering his reflections on rethinking socialism in the present day.
Read moreThe Decline of the U.S. Empire and the Emerging Multipolar World
Prof Wolff joins Rachel Blevins to discuss various aspects of U.S. foreign policy and economic challenges. He expresses skepticism about the Biden administration's handling of international conflicts, particularly the focus on foreign funding for conflicts in Ukraine, Israel, and Taiwan. He criticizes the administration's economic approach, highlighting its failure to explore alternative measures to address inflation, such as wage-price freezes and rationing. Wolff also touches on the declining influence of the U.S. in the global arena, emphasizing the emergence of China and other BRICS nations as significant competitors. Throughout the interview, Wolff urges for a more realistic assessment of the changing world order and its implications for the U.S. economy.
Read moreThe Socialist Program: Behind Zelensky's Trip to Washington: The Ukraine War Is Financing US Capitalists
In this discussion, Brian Becker and Professor Richard Wolff explore the symbiotic relationship between the US economy and the military-industrial complex. They emphasize the continuous wars, the escalating defense budget (proposed at $842 billion for 2024), and the monopolistic nature of the military-industrial complex. The conversation draws parallels with the medical-industrial complex and highlights how both have become integral, non-competitive components of the US economy.
Read moreEconomic Update: Politics, Economics & Chocolate: Capitalism's Flaws & Failures
[EU S13 E45]
This week's episode of Economic Update features updates on the economic crises in Argentina and Germany, the graduate student unionization wave happening across U.S., how & where the chocolate industry is using child labor, a critical analysis of what "profit" means and a departed Kissinger. Read More
Economic Update: The U.S. Military Machine & What It Costs
[S13 E44]
We hope you all enjoy this week's episode of Economic Update featuring updates on Tesla vs the Swedish Unions, a teachers strike in Portland, Oregon, "food insecurity" in the U.S. today, how the King of Britain has been secretly profiting from assets of the dead and a Michigan "entrepreneur" failed in effort to buy electoral defeat of Rachid Tlaib.
In the second half of this week’s episode, Prof. Wolff interviews Norman Solomon on his latest book, "War Made invisible: How America Hides the Human Toll of its Military Machine". Read More
Dialogue Works: Clowns in Charge
Prof Wolff joins Dialogue Works in discussing various global issues, highlighting the shifting dynamics of capitalism and the emergence of socialist critiques. He acknowledges the significance of figures like Jill Stein, Cornel West, and Mary Ann Williamson, emphasizing the need for a unified left opposition to bring about meaningful change. Wolff points out the failures and mistakes of old capitalism, citing recent geopolitical events and the inability of the ruling class to grasp the unfolding revolutionary situation. The growing labor organizing and alliances between social and labor movements are seen as crucial forces challenging the status quo. Overall, Wolff envisions a revolutionary shift driven by both intellectual figures and grassroots movements, signaling a profound transformation in the socio-political landscape.
Read moreThe Socialist Program: 60% Living Paycheck to Paycheck: Time for a New System
On this episode of The Socialist Program, Walter Smolarek and Prof. Richard Wolff discuss the number of people in the U.S. living paycheck to paycheck and the level of disconnect the elites in government have from the working class.
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