Economic Update: Economics for Labor Day


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On this week's episode of Economic Update, Prof. Wolff, provides updates on dark money, Mylan drug scandal, air lines concentrating, capitalism and poor countries (India, China). On Labor Day: key facts, struggles, and issues.

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  • commented 2016-09-13 18:57:35 -0400
    <b>Who has a right to own wealth? - Is wealth a criminal thing?

    (1) Wealth is the property we own above what is needed to have a comfortable life.

    (2) Hoarding of wealth by the greedy is the root cause of poverty.

    (3) Capitalist accumulation of wealth is the root cause of global warming.

    (4) Upper-half of society owning all the land and wealth, this imposes poverty and economical slavery upon the laboring-class lower-half.

    (5) The moral fabric of society is destroyed by hoarding wealth, as it is essential that the compassion, pity and charity of passing wealth down to a lower-class take place so that it may produce a grateful response.

    Brian Becker
    “The U.S. is only 6% of world population, yet it has 25%
    of all the jail and prison inmates on earth. The richest
    nation on earth doing such a thing, how could that be?”

    Empire USA has the largest laboring-class of any first world country. For if we total all the Afro-Americans, Native-Americans, Latino-Americans and those of the white laboring-class, we find that half of our population is impoverished and of the slow of thought laboring-class.

    My laboring-class does not vote. Slow and careful thinkers that we be, we have not the speed of thought needed to rule, nor the slightest desire to rule.

    So, as only the white upper-half of society goes to the polls, invariably the voting majority is the rich ruling class, the 26% most wealthy. Which is why the top forth of society has the political power to own 75% of the wealth and to use wars of aggression to plunder Muslim nations.
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