The World Economy Is Changing—the People Know, But Their Leaders Don’t
Article by Richard D. Wolff
"The year 2020 marked parity between the total GDP of the G7 (the U.S. plus allies) and the total GDP of the BRICS group (China plus allies). Since then, the BRICS economies grew faster than the G7 economies. Now a third of total world output comes from the BRICS countries while the G7 accounts for below 30 percent. Beyond the obvious symbolism, this difference entails real political, cultural, and economic consequences. Bringing Ukraine’s Zelenskyy to Hiroshima to address the G7 recently failed to distract the G7’s attention from the huge global issue: what is growing in the world economy vs. what is declining..."Read more
The Socialist Program: First Republic Bank Rescue & Secret Collusion Between the Government and Wall Street's Biggest Banks
Brian and Prof. Richard Wolff discuss the third bank failure in two months. First Republic collapsed Monday, a sure sign that the financial system is still in huge turmoil. Then JPMorgan Chase bought the bank's assets for a bargain. What does this say about the economic system and what does it mean for the rest of us?Read more
Guerilla History: Dedollarization & the Petrodollar
Prof Wolff joins Guerilla History to discuss: the process of dedollarization, its impact on the Petrodollar, and how these play into geopolitics more broadly including the ability of the US to sanction whomever they wish - processes that we need to continue keeping an eye on.Read more
Economic Update: The Emerging New World Economy: A New Empire, a Multipolar World, or a Post-Capitalist System
[S13 E17] New
Four key changes drive a new world economy emerging from the old. First is capitalism's transition from neoliberal,globalizing to nationalistic capitalism. This includes the shift of capitalism's center from western Europe and the US to Asia and the global south and also includes the deepening economic inequality inside most nations. Second is the end of the stale, old debate between private and state capitalism (misnamed as capitalism vs socialism) in favor of private + state capitalism hybrids. Third is the post-peak decline of the US empire. Fourth is the urgent question of what comes next: a new empire, a multipolar world, or a new post-capitalist system that replaces...READ MORE
By Any Means Necessary: US Empire Declines as Contradictions of Capitalism Intensify
Prof Wolff joins By Any Means Necessary on Radio Sputnik to discuss House Republicans’ proposal on conditions for raising the debt ceiling and how the debt ceiling political debate demonstrates the unity of both political parties, the ongoing inflation issue and why the assertion that workers’ wage growth is responsible for it ignores price gouging by corporations, and how recent events in the conflict in Ukraine are marking a global shift in the political and economic order.Read more
Zero Hour: The Sickness of 'Artificial Intelligence'? The System.
Prof Wolff joins Zero Hour with RJ Eskow to discuss: The Sickness of 'Artificial Intelligence'? The System.Read more
The Emerging New World Economy
Article by Richard D. Wolff
"The emerging new always both frightens and inspires the fading old. History is that unity of opposites. Sharp-edged rejections of what is new clash with enthusiastic celebrations of it. The old gets pushed away even as bitter denials of that reality surge. The emerging new world economy displays just such contradictions. Four major developments can illustrate them and underscore their interactions..."Read more
The Socialist Program: How Much Was the Bank Bailout...and How Is It Getting Covered Up?
Brian and Prof. Richard Wolff discuss the recent New York Times research on the bank bailout, stating that the regional banks massive sections of the country depend on were on the verge of collapse. Is this study real or a propaganda piece to cover up that the government spent billions on banks' mistakes?Read more
Economic Update: Today's Medicare for All Battle with Dr. William Bronston
[S13 E16] New
In this week’s Economic Update, Prof. Wolff discusses US deaths from Covid, poverty in the US labor force, US and Canada cooperate against immigrants, US warfare vs China's peacemaking, Amazon profits from cutting back on "free" shipping. In the second half of the show, Wolff interviews Dr. William Bronston, advocate for single-payer...READ MORE
The Socialist Program: Dollar Imperialism and Its Decline
Brian and Prof. Richard Wolff discuss how economic powerhouses like China, Russia, Brazil and others are moving away from using the dollar, changing its status as the world’s reserve currency. This shift could erode the power that U.S. banks and corporations have relied on for decades.Read more
Economic Update: When We Put People First in US Politics
[S13 E15] New
The Jimmy Dore Show: This is why the banks are failing now
Prof Wolff joins the Jimmy Dore Show to discuss the private US banking system and why banks are failing now.Read more
Project Censored: the Political Economy of the US Empire in Decline
Prof Wolff joins the Project Censored podcast with host Eleanor Goldfield to discuss the myriad ways in which our economy is falling apart, the compounding traumas of living in late stage capitalism, as well as the ongoing shift from the US dollar in international tradeRead more
Economic Update: The Marxist Tradition
[S13 E14] New
Investopedia: Inflation or the Economy: What Will Fed Rate Hikes Break First?
Prof Wolff is interviewed for an Investopedia article titled: Inflation or the Economy: What Will Fed Rate Hikes Break First? by Diccon Hyatt.
“They're in debt up to the wazoo to build the office towers premised on the marketing which told them every office in that place would be leased at a nice flat rate,” Wolff said. “All that's gone. The offices are empty.”Read more
Law & Disorder: Banking Collapse Contagion?
Prof Wolff joins the Law & Disorder podcast to discuss why the economy was threatened with collapse and what must be done to protect us from the unstable banking system.Read more
Zero Hour: Has the Revolution Started?
Prof Wolff joins Zero Hour with RJ Eskow to discuss: has the revolution started?Read more
H3 podcast: Prof Wolff calls in
Prof Wolff joins the H3 podcast to talk about US isolationism, the ever-growing defense budget, issues with stock buyback and more.Read more
LA Progressive: About Capitalism
Prof Wolff speaks with LA Progressive all about Capitalism, joining Dick Price and Sharon Kyle to give an explanation of his theory that capitalists use certain people as a buffer during economic downturns.Read more
Kim Iversen: The Brink Of Economic Collapse and The Path Forward
Prof Wolff joins the Kim Iversen show to discuss the system on the brink of economic collapse, and the path forward.Read more
Economic Update: Why the US Constitution is an Obstacle to Change
[S13 E13] New
In this week’s Economic Update, Prof. Wolff presents updates on the US banking crisis, plant closing injustice, growing child labor in the US, Biden's budget's tax "proposals," and a new book that shows US homelessness is an economic problem. In the second half of the show, Wolff interviews Prof. Robert Ovetz... READ MORE
Zero Hour: Can Economics Measure Beauty, or Love?
Prof Wolff joins Zero Hour with RJ Eskow to discuss: Can economics measure beauty, or love?Read more
KPFA: Silicon Valley Bank Collapse
Prof Wolff joins KPFA Evening News to discuss the Silicon Valley Bank collapse and more.Read more
Sputnik News: US Faces Multifaceted Economic Crisis
Prof Wolff joins Sputnik News to talk about the pattern and structure of the world's economy as it appears to be changing, with challenges crashing in on the US from different directions.Read more
The Socialist Program: What's Causing the Bank Collapse?
On the Socialist Program, Brian and Prof. Richard Wolff break down what's going on with the collapse of several banks, including how to understand the intentionally complicated economic jargon and why it's vital that we do.Read more