Economic Update is a weekly nationally syndicated radio program produced by Democracy at Work and hosted by Richard D. Wolff. The program explores complex economic issues and empowers listeners with information to analyze their own financial situation as well as the economy at large. By focusing on the economic dimensions of everyday life - wages, jobs, taxes, debts, and profits - the program explores alternative ways to organize markets and government policies.
Capitalism's Shrinking Popularity
On this week's show, Prof. Wolff discusses French voters abstaining (66%), and rejecting party establishments in the face of social crisis; Seattle City Council helps tenants with law changes as conservatives seek to recall progressive Council leader Sawan; growing US economic inequality cuts mass consumption and thus hurts US economy; June 2021 polls show capitalism losing, socialism gaining among US adults including Republicans; Washington Post columnist seeks to ban billionaires as bad for society.
The Challenge of Progressive Unionism
On this week's show, Prof. Wolff discusses Wall Street money corrupting US elections and the facts of a declining US capitalism (wage stagnation driving inequality, rising health and education costs, falling real social security benefits, unequal wealth of people of color vs whites, gross worsening of US income and wealth inequalities). On the second half of the show, Prof. Wolff is joined by David Van Deusen, President of Vermont state AFL-CIO, to talk about the victories of progressive unionism.
Inflation and Labor Shortage
On this week's show, Prof Wolff talks about the social effects of inflation and the lack of accountability on the part of employers. Capitalist employers set prices with the only motive of maximizing. Employees, the vast majority, must live with inflation but are excluded from decisions setting prices. Employers scream “labor shortage” to get the government to force workers back to work at low wages. Employers recover from economic crashes but undercut workers’ efforts to do the same.
Economic Update: The Contributions of Karl Marx
Professor Wolff takes a deeper look at the life and work of Karl Marx in celebration of the 200th anniversary of his birth.