Economic Update with Richard D. Wolff

Updates on profits-vs-science and weedkiller “roundup,” most Americans not better off than in 2016, WHO reports bans on corporal punishment of kids and how doing so saves money too, Janet Yellen warns huge corporate debts risk another major economic crash. Interview with Riva Enteen, editor of Follow the Money, a collection of KPFA interviews.

Updates on latest foreign and US elections, the CEA document against socialism, growing inequality of billionaires’ wealth, army represses report on costs and errors of Iraq war, and expose of Maine’s subsidy for corporations by helping indebted students. Interview with Dr. Harriet Fraad on the US “Sugar Arrangements” industry.

Updates on political economy of Trump/GOP attacks on China and their long term costs; parallel analysis of attacks on immigrants; Michelle Alexander on who today is “The Resistance;” and record funds pouring into US midterm elections. Interview with Lee Carter, a socialist elected to Virginia House of Delegates on why and how he won.

Updates on IMF prediction of slowing global growth, Bank of England warnings on accumulation of sub-prime debt, Nordhaus Nobel prize and market ideology, Dutch unions and others against corporate tax evasion, and signs of labor militancy in Marriott strike and profit-sharing demands of steelworkers. Interview Chris Hedges on his latest book: America: The Farewell Tour.

Updates on UK's Liberal Democrats advocating serious reduction of wealth and income inequality, Sears CEO blames pensions for Sears' problems, JP Morgan predicts next financial collapse in 2020, failure to deal with opioid crisis, G-20 meeting in Argentina evades real issues, Europeans clash with US over trade with Iran, trivial SEC fine for Citigroup dishonesty with investors. Major discussion: political economy of immigration as a right-wing issue and an effective left-wing response.

Updates on Bloomberg finds US "among least efficient" providers of health care, Poland's unions demand wealth sharing role, money corrupts US politics in new way, Trump tariffs bad for many US corporations. Interview: Dr. Harriet Fraad on how public policies, past and present, serve corporate profits but undermine families, households and personal relationships.

Updates on Chicago hotel workers strike and Philadelphia parking lot attendants organizing, Cuomo's centrist, money-dependent campaign, another socialist (Julia Salazar) wins election, McDonald's workers strike in 10 cities against employer's failure to stop sexual harassment. Interview: Z and Sean, two leaders of new BSA.  

Updates on Tenth Anniversary of Lehman Brothers Bank collapse, assisting Ocasio-Cortez show how to finance socialist projects, Colin Kaepernick's ad for Nike and contradictions of capitalism. Interview with Michael Pelias on launching a new Left University in New York: rationale and goals.

This special editon of Economic update deals with how and why government take-over of private corporations need not be and often is not "socialism" and why it is often done to strengthen private capitalists.  

Updates on new approach to Labor Day, DNC accepts fossil fuel donations, Turkey's crisis as typical capitalist instability, collapse of Genoa toll bridge, exploding gap between CEO and average worker pay, Gallup Poll on capitalism vs socialism in US.Interview with Dr. Harriet Fraad on why US workers don't rebel more against systemic deprivations.

Updates on Missouri vote for union position, the irrationality of student debt, economic sanction of Iran isolates and costs US for Trump political gains, Monsanto puts profits over cancer risks, Louisiana legislature punishes big banks for lending to assault rifle producers (not for money laundering, illegal fees, mortgage loan disaster etc.). Interview with Troy Walcott, striking Spectrum Cable technician.

Updates on poverty in California, childhood obesity in US, economic fallout from (real meaning of) Trump steel tariff. Prof Wolff responds to questions by explaining how US politics has sustained US capitalism and what the politics of change will require.

Updates on social costs of criminalizing marijuana, US food outlets taken over by foreign conglomerates, capital labor conflict in India, Trump's Signature Bank swamp, New Zealand makes 10-days paid domestic violence leave mandatory. Interview with Matt Christman and Will Menaker of the Chapo Trap House podcast phenomenon: how and why its mix of comedy and sharp social criticism grew to be so popular."

Updates on Europe's higher labor force participation; Cuomo campaign fakes "small donations"; US restaurants decline as pinched incomes switch to food delivery; "market" housing system causes homelessness; education fails to overcome black-white wealth gap. Interview with Dr. Harriet Fraad on causes and consequences of US declining fertility rate.

Updates on New Zealand firm succeeds with 4 day workweek; Vienna's public housing successes; Fordham adjuncts' union wins big; Burberry destroys $ millions in new clothes; precarious US jobs worsen alcoholism among young; US airlines raise profits by shrinking toilets. Interview on collapse of Toys-R-Us chain (causes and consequences) with worker Cheryl Claude and organizer Charles Khan.