Economic Update with Richard D. Wolff

This week’s episode of Economic Update features an analysis by Professor Wolff on:  1. How Trump seeks to address the problem of costly American wars and their impact on sharply rising budget deficits,  2. How the rising U.S. debt has led to the loss of the United States’ "AAA" credit rating,  3. How Trump’s response is to seek to slash government spending and raise money by imposing tariffs on the entire world,  4. How this backfires as other countries retaliate, hurting US exports and causing the dollar to lose its appeal as the world's safest currency,  5. How China's economic rise is more substantial than the U.S. measures aimed at stopping or slowing that rise,  6. How the declining U.S. empire undermines the U.S. capitalist economy by making it increasingly difficult for CEOs and other corporate leaders in the U.S., households, and the government to prevail over and dominate the U.S. economy and society.   The d@w Team Economic Update with Richard D. Wolff is a DemocracyatWork.info Inc. production. We make it a point to provide the show free of ads and rely on viewer support to continue doing so. You can support our work by joining our Patreon community: https://www.patreon.com/democracyatwork Or you can go to our website: https://www.democracyatwork.info/donate   Every donation counts and helps us provide a larger audience with the information they need to better understand the events around the world they can't get anywhere else. We want to thank our devoted community of supporters who help make this show and others we produce possible each week.1:01 We kindly ask you to also support the work we do by encouraging others to subscribe to our YouTube channel and website: www.democracyatwork.info

On this week’s episode of Economic Update, Professor Wolff delivers updates on the blow back to Iowa Senator Joni Ernst’s rationalization of budget cuts to Medicaid to help fund tax cuts for corporations and the rich, 8,000 Connecticut healthcare workers win contract gains by threatening to strike, and how the advertising industry spawned by capitalism distorts and corrupts human communication. The show's second half features an interview with UC-Berkeley Professor Arlie Hochschild on the reasons why Trump's political base continues to support him.   The d@w Team Economic Update with Richard D. Wolff is a DemocracyatWork.info Inc. production. We make it a point to provide the show free of ads and rely on viewer support to continue doing so. You can support our work by joining our Patreon community: https://www.patreon.com/democracyatwork Or you can go to our website: https://www.democracyatwork.info/donate   Every donation counts and helps us provide a larger audience with the information they need to better understand the events around the world they can't get anywhere else. We want to thank our devoted community of supporters who help make this show and others we produce possible each week.1:01 We kindly ask you to also support the work we do by encouraging others to subscribe to our YouTube channel and website: www.democracyatwork.info

On this week’s episode of Economic Update, Professor Wolff delivers updates on U.S. vs Chinese wheelbarrows, the Cold War error against China, the lasting effects of terminated U.S. federal workers, how tariffs alone won't bring manufacturing back to the U.S., further declines in U.S. coal mining, McDonald's hamburgers in the U.S., and the rapid economic decline in Europe.   The d@w Team Economic Update with Richard D. Wolff is a DemocracyatWork.info Inc. production. We make it a point to provide the show free of ads and rely on viewer support to continue doing so. You can support our work by joining our Patreon community: https://www.patreon.com/democracyatwork Or you can go to our website: https://www.democracyatwork.info/donate   Every donation counts and helps us provide a larger audience with the information they need to better understand the events around the world they can't get anywhere else. We want to thank our devoted community of supporters who help make this show and others we produce possible each week.1:01 We kindly ask you to also support the work we do by encouraging others to subscribe to our YouTube channel and website: www.democracyatwork.info

This week on Economic Update, Professor Wolff delivers updates on Trump’s cuts to school mental health counselors, the mass strike in LA County, why China is better positioned for a trade war with the U.S., and how profit drives corporate decisions to relocate U.S. factories overseas, thereby making the US economy vulnerable to long, global supply lines.   The d@w Team Economic Update with Richard D. Wolff is a DemocracyatWork.info Inc. production. We make it a point to provide the show free of ads and rely on viewer support to continue doing so. You can support our work by joining our Patreon community: https://www.patreon.com/democracyatwork Or you can go to our website: https://www.democracyatwork.info/donate   Every donation counts and helps us provide a larger audience with the information they need to better understand the events around the world they can't get anywhere else. We want to thank our devoted community of supporters who help make this show and others we produce possible each week.1:01 We kindly ask you to also support the work we do by encouraging others to subscribe to our YouTube channel and website: www.democracyatwork.info

This week on Economic Update, Professor Wolff begins by presenting updates on the death of libertarianism and the rise of US economic nationalism, and US universities become big businesses, governed by money concerns. In the episode's second half, Professor Wolff interviews Professor Geert Dhondt, the Chair of the Economics Department and Economics Professor at John Jay College of the City University of New York, on how colleges and universities are reacting to Trump's attack on higher education.   The d@w Team Economic Update with Richard D. Wolff is a DemocracyatWork.info Inc. production. We make it a point to provide the show free of ads and rely on viewer support to continue doing so. You can support our work by joining our Patreon community: https://www.patreon.com/democracyatwork Or you can go to our website: https://www.democracyatwork.info/donate   Every donation counts and helps us provide a larger audience with the information they need to better understand the events around the world they can't get anywhere else. We want to thank our devoted community of supporters who help make this show and others we produce possible each week.1:01 We kindly ask you to also support the work we do by encouraging others to subscribe to our YouTube channel and website: www.democracyatwork.info

Professor Wolff takes a deeper look at the life and work of Karl Marx in celebration of the 200th anniversary of his birth.