Economic Update: Class Struggles in the US Today

[S11 E45] New

On this week's show, Prof. Wolff talks about teacher burnout economics, inflation as an employer-employee fight, the "labor shortage" isn't, "Build Back Better" does not begin to approach what Europe already has, the basic political economy of...READ MORE

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  • pasqual digesu
    commented 2021-12-15 10:06:50 -0500
    An incredible lecture and presentation. Regarding all subject matters, A great display of deeper understanding and intuition reflecting subdued truths and reality. As I believe, an uncontrolled system of capitalism has radically abused its powers in setting prices and manipulating profit for themselves and the distribution of profits, unchecked. As for inflation, yes their actions are a great part of the cause but, the incremental inflationary step increases of the past 6 decades can also be attributed to changes in the backing of our papyrus notes. Going from gold and silver (JFK) to commodities and other market concoctions etc. and these changes diluting the value of our currency. I believe the only way you can also increase currency production and circulation levels is by diverting to another devaluated currency base used to back the currency. In the 3rd century the roman empire’s diminishing abundance of precious metals began its infiltration of silver coins with less precious metals until the silver content was greatly reduced reducing the values of the coinage or currency. This now required 100 coins for a bushel of wheat for what cost decades earlier only 2 coins or drachma?
  • Tom Wayburn
    commented 2021-12-10 03:31:00 -0500
    I just heard your New School lecture on the need for change and I like very much the way you presented your ideas. I couldn’t do it that well even if the lives of everyone I care about depended upon it. Well, I guess the lives of every person and every species does depend upon it. I did the best I could to introduce some ideas that might not be popular at https://www.dematerialism.net/ Perhaps we are allies or could be.

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