Economic Update with Richard D. Wolff

Yanis Varoufakis, elected member Greek parliament, joins Prof. Wolff on this week's show and offers his original, critical perspectives on (1) the banking crisis, (2) the decline of the US empire and US capitalism, (3) the mass uprisings of the French and Greek working classes in Europe, (4) the collapse of Europe's efforts to shape an independent (from the US and China) economic position, and (5) class struggle inside China.

Four key changes drive a new world economy emerging from the old. First is capitalism's transition from neoliberal, globalizing to nationalistic capitalism. This includes the shift of capitalism's center from western Europe and the US to Asia and the global south and also includes the deepening economic inequality inside most nations. Second is the end of the stale, old debate between private and state capitalism (misnamed as capitalism vs socialism) in favor of private + state capitalism hybrids. Third is the post-peak decline of the US empire. Fourth is the urgent question of what comes next: a new empire, a multipolar world, or a new post-capitalist system that replaces employer-employee workplace organizations (private and public) with democratically run worker cooperative organizations. Economic Update with Richard D. Wolff is a d@w production. We make it a point to provide the show free of ads. Please consider supporting our work.   

In this week’s show, Prof. Wolff discusses US deaths from Covid, poverty in the US labor force, US and Canada cooperate against immigrants, US warfare vs China's peacemaking, Amazon profits from cutting back on "free" shipping. In the second half of the show, Wolff interviews Dr. William Bronston, advocate for single-payer health care in the US. Economic Update with Richard D. Wolff is a d@w production. We make it a point to provide the show free of ads. Please consider supporting our work. 

In this week’s Economic Update, Prof. Wolff presents updates on the failures of GOP and Democrats to face or solve major crises; layoffs and stock buybacks by US hi-tech companies; a new study of "food insecurity" in LA county. The second half of the show is dedicated to a discussion of how US history of the 1920s and 1930s shows the possibility of a progressive political shift and upsurge in the US today.   Economic Update with Richard D. Wolff is a d@w production. We make it a point to provide the show free of ads. Please consider supporting our work. 

In this week’s Economic Update, Prof. Wolff discusses the history and diversity of Marxist theories and practices that comprise the Marxist tradition. Wolff also explores why Marxism draws renewed interest globally now. Finally, a detailed examination shows how some basic insights from Marx's work are especially relevant to victims and critics of today's capitalism and especially to those who seek transition to another, better system.   Economic Update with Richard D. Wolff is a d@w production. We make it a point to provide the show free of ads. Please consider supporting our work. 

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