Economic Update: Capitalism is the Problem

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On this week's episode of Economic Update, Prof. Wolff provides updates on Bloomberg's money, negative interest rates, the oil market, Puerto Rico's cruel sales tax, Fed Reserve governor supports breaking up banks 'too big to fail,' and Apple borrows despite its huge cash hoard. Response to listeners: converting capitalist into worker coop type enterprises. Major discussion: three alternative responses to the huge problems of capitalism today.

 


Showing 5 comments

  • followed this page 2016-08-10 16:42:02 -0400
  • commented 2016-02-25 15:35:00 -0500
    So what does this structural change look like? Surely we can create mechanisms for workers to take over a company’s work when it decides to leave the country or even when it moves to another locality. And we can provide federal incentives and support for the unemployed to start up worker-owned enterprises. There are probably a lot of opportunities to offer carrots but will sticks be necessary?

    What if some individual with adequate funds decides to start up a business and wants to hire some people to work for her as employees, not as owners. In this new kind of socialism is this to be allowed. If so, what if this enterprise grows to dominate an industry; is that allowed? At what point will the traditional capitalist enterprise simply be forbidden?
  • commented 2016-02-23 17:21:31 -0500
    [My following comment appears on Robert Reich FB page as well…] Aside from the fact that this guy looks like a snapping turtle with a holier-than-thou attitude, he must be put back in his place as a servant of the people, elected by the people. I signed a petition to do just that…and i’d encourage others to do the same. Now i volley with a question to you and D@W audience : Is our proactive involvement truly going to be enough? I balk and protest with the best of people and have yet to see any of it come to fruition…does it truly do any good? Or will we eventually need to take physical action against the establishment…?
  • commented 2016-02-22 02:37:02 -0500
    I’ve been saying for years that we need structural change on tax law and minimum waged rates that is tied to inflation… it needs adjusted first to catch up with what it has lost the last 30-40 years! Those two never got touched during the crash period… so nothing changes if nothing changes.. we are really sitting ducks with another crash possible since nothing was changed!
  • followed this page 2016-02-22 02:32:38 -0500
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