Ask Prof. Wolff

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Professor Wolff receives hundreds of questions per week covering a wide array of topics, from economics and politics, to historical movements and current events. While Professor Wolff does his best to reply to some questions on Economic Update with Richard D. Wolff, he's received more questions than can be answered individually. Prof. Wolff will now provide video answers to his favorite questions on this page.
 
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Im interested in understanding how to convert a business to a worker cooperative.

I'm planning an oyster farm start-up, and would like to convert it into a worker cooperative after approximately 5 years.

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Im interested in understanding how to convert a business to a worker cooperative.

I'm planning an oyster farm start-up, and would like to convert it into a worker cooperative after approximately 5 years.

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You did not mention that UEBER got a slap on theyr hands in Europe.

They say that Uber is a taxi/transportation Service and have to work finally under the same rules then all the other taxi companys. Finally someone who wakes up Chris

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How would hiring and firing work at a worker co-op?

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Could reducing executive by 1 or 2% pay for the cost of raising wages for low-income workers?

Why are employers unwilling to raise wages? I realize it is impossible to force executives to reduce their pay in order to raise wages for other workers, but I think it would be helpful to illustrate that a small reduction in executive compensation could easily cover the cost of raising wages. Is this true? Thank you.

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Advice for Future Workers

Hey Dr. Wolff, I am in my Junior year of Highschool in the United States, which means I will soon be facing the mess of this economy as a young adult soon, including the inevitable crash. I am not sure if this question is well developed, especially since you do not know my life completely, but are there advice or anything that I should know so that I can fair better in the future in our current economy? Similarly, is there anything that you can tell me that could help me react better to an economic crash?

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Advice for Aspiring Marxian Economists

Hi Dr. Wolff, I recently graduated with an undergraduate degree in economics. During my studies I was frustrated by the dominance of neoclassical theories and ideas in my courses. I have recently considered applying to graduate school for economics, but I am uncertain about whether it is the best use of my efforts. Do you have any advice for aspiring Marxian economists? Are there any particular schools or programs that are known for having more intellectual diversity within the economics discipline? Thank you, Nora Fergany

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Please explain the rental crisis across the West Coast.

Dear Dr. Wolff. My rent just went up again by $70 after only 6 months. Even more than it did for the first six months. And if I choose not to sign a lease, it will go up by $400. In addition, I can no longer find apartment complexes that will pay for any utilities. Can you please explain what is going on with the rental crisis up and down the West Coast, from Los Angeles to Seattle? Is it really an issue of supply and demand? Or is there more to it? My rent continues to increase despite any new apartment constructions that surround me. And most of these constructions begin at the high end of the market. I read that rent prices here in southern CA have risen by twice the rate of inflation in recent years. Seriously, it's killing me. I'm not prepared to buy a house, and I don't know where to move to escape this. I'm an educated professional who makes a fairly decent living -- but apparently not enough to keep a roof over my head. What is happening? And what are your thoughts on rent control measures? Will they address the source of the problem? Here are some articles that thoroughly confused me. Thanks. http://beta.latimes.com/business/la-fi-costa-hawkins-repeal-20170314-story.html https://www.ocregister.com/2017/08/17/southern-california-rent-costs-soaring-twice-as-fast-as-inflation/ http://www.laweekly.com/news/will-rent-control-come-to-pasadena-long-beach-inglewood-and-glendale-8879562

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what do you think about criptocurrency as an alternative to banks ?

is criptocurrency an interesting resource for working people? is private money anyway. von hayek dreamed with private money. do you think banks are afraid of criptocurrency?

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"By 2053, Black households will have a median wealth of zero." - Forbes

Greetings Prof. Wolff ! Are worker cooperatives the best solution for African Americans? I can find no answer to how to close the wealth gap. Could sections of cities like Detroit, Chicago, Baltimore with abandoned homes and warehouses be turned into a proverbial Mondragons in order to begin to close the wealth gap? Coupled with community land trusts, do you believe the concept seems doable? And if so, how long could it possibly take to execute. Alternatively, could entire communities of energy-efficient housing and a commercial sector be developed from scratch and use the worker cooperative model to be self-sustained? http://www.blackenterprise.com/baltimore-sell-homes-1/ http://nashvillepublicradio.org/post/nashville-creates-community-land-trust-stem-gentrification#stream/0

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Depression=Alienation. Cure: Worker co-ops

Dr Wolff: I think it would be supremely useful to everyone who listens to your show for you to have Johann Hari on for an interview, preferably with you and Dr Fraad together. Depression is the result of human needs unmet, not chemical or pathological. J.Hari's new book describes depression as basically alienation, prescribes worker coops as part of cure https://www.theguardian.com/society/2018/jan/07/is-everything-you-think-you-know-about-depression-wrong-johann-hari-lost-connections

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Stock Market in a Socialist society

Hey Dr. Wolff, I'm curious about whether or not a stock market would exist in a socialist society, and if it did, how would it work? Obviously private individuals will no longer be able to own or control a certain percentage of a business if he/she does not work there, so does this mean that external investments would, in a sense, operate like borrowed money?

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Connecticut Debt Crisis

Hello Dr. Wolff, Would you please address the Connecticut debt crisis? For a state with numerous insurance and other Fortune 500 companies and a state that is supposedly one of the wealthiest in the nation, it just doesn’t make sense. I have read numerous articles on the issue and it still does not make sense. Thanks!

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If I sell an AT&T sock what does AT&T get from that sale?

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http://paulgrignon.netfirms.com/MoneyasDebt/MAD2016/ThirstySwans.htm

http://paulgrignon.netfirms.com/MoneyasDebt/MAD2016/ThirstySwans.htm

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