Economic Update: Economics for a New Year

[S13 E04] New

In this week's show, Prof. Wolff discusses US spending for war in Ukraine paid for by higher interest rates and inflation hurting middle and small businesses ; a rational transport system is NOT electric cars; an appreciation of the "degrowth"...READ MORE

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  • Pasqual DiGesu
    commented 2023-01-31 22:50:02 -0500

    “States are as the men (and woman) are; they grow out of human characters.” —From Plato’s Republic

    “As early as 1928, U.S. President Hoover had declared to a group of public relations experts; “You have taken over the job of creating desire and have transformed people into constantly moving happiness machines, machines which have become key to [our] economic progress”.
    “Consumerism as a state religion was complimented by a new magic phrase in politics “economic growth”. The permanent expansion of the economic growth or growth of the “monetary economy” has been a systemic necessity since the paradigm of endless capital accumulation emerged in the early modern era. It was not until the mid-20th century that this growth was measured as national GDP, and after the war officially elevated to the pinnacle of national priorities”. At this time investiture in growth as a central political goal was attacked by many economists and politicians (to include the many renaissance thinkers of the early 20th century who could not combine their efforts under one movement)

    And, considering what we have been molded into psychologically by Madison Ave style marketing, it is doubtful that we can fix our problems simply by a mere operation of a mechanical process such as universal suffrage.

    Control of capitalism is not a preference of choice, …it is a necessity