Economic Update: Trumponomics Exposed

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On this week's Economic Update, Prof. Wolff provides updates on Basic economy airfares, Trump-May delusions, drop in US union membership, Trump's attacks on Mexico and TPP, elite colleges vs state schools. Major discussion of (1) what 'capitalism' means and (2) fake 'jobs' policies.


Showing 7 comments

  • commented 2017-02-04 16:33:53 -0500
    Another show about jobs and wages for the purposes of supporting consumption. Not sure what that has to do with Marx. Keynes, maybe, but Marx, no. And that’s fine, but please do not claim to be providing analysis through a Marxist lens.

    Marx’s project is a revolutionary one that aims to abolish commodity production, surplus value, abstract labour, commodity fetishism, money, and therefore jobs and wages.

    Not to continue on with more of the same with a more equitable distribution of the value created through changes in property relations, or more effective redistribution schemes, or with greater democracy in the workplace.

    Workplace democracy is desirable to the extent that a socially regulated economy at a macro level enables people to have more time to pursue the projects they desire—either collectively or individually. Not for the purposes of producting commodities according to the dictates of socially necessary labour time, which just prolongs the alienation workers experience, objectively and subjectively, whether they are making the decisions in the workplace or not.
  • commented 2017-02-04 11:16:13 -0500
    great talk! Here in the UK we have poiticians in la la land that are so out of touch that Parliament is now nothing more than a museum where tourists visit the gallery to watch the clowns pretending that democracy exists.

    Unfortunately the stupidity and austerity ideology of these ‘clowns’ is causing the rise of fascism which is nascent in the UK and Europe – more sleepwalking!
  • commented 2017-02-03 22:55:07 -0500
    Yes, Michael, thanks, that’s the one!
  • commented 2017-02-03 02:57:21 -0500
    +Willa Rothman I think you may be referring to a talk called Crisis and Openings, which is on YouTube here: https://www.youtube.com/watch?v=T9Whccunka4. I hope that is the one you are looking for. :)
  • commented 2017-02-03 00:09:23 -0500
    Does anyone know how I can find the talk of Richard Wolff’s where he explains American Exceptionalism in terms of why America was able to have a capitalist system where wages rose with productivity until 1970’s? I’m looking for a particular lecture where he’s at a chalkboard drawing a graph of this. I thought I bookmarked it, but I didn’t and now I can’t find it. Thanks so much!
  • commented 2017-02-02 15:23:23 -0500
    Thank you for your great show. I’d like to suggest a British documentary that helped me understand some of the basics of the global monetary system as it is manifested today. “97% Owned – Economic Truth documentary – Queuepolitely cut” https://www.youtube.com/watch?v=XcGh1Dex4Yo&t=2760s
  • commented 2017-01-31 19:09:16 -0500
    Thank you for fixing the social graph tags!
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