April 22, 2014
Updates on how inequality persists across generations, the nonsense of "taxes are job killers", governor uses tax revenues to prevent unionization in a private enterprise. Major discussion of state and local taxes in the US, the economics of paying executives very high incomes, and the privatization of public services. Response to listener's question on recent Medicare report on oversize payouts to doctors. More
April 13, 2014
Updates on O'Reilly vs de Blasio, Greek bonds, millions for Detroit's athletes, and who pays federal taxes. Interview with Nomi Prins, ex-Goldman Sachs banker, on new book All the Presidents' Bankers.Response to listener on where and why Congress refuses to act (taxing rich, helping poor, reducing inequality, etc.) despite US poll results showing big majorities supporting those actions.
April 6, 2014
Updates on Supreme Court McCutcheon decision on campaign financing, global meaning of French municipal elections, special impacts on women of raising minimum wages, and corporations' cash hoards cause unemployment and cut government services. Interview with Vanessa Bransburg who supports and builds successful worker coops in Brooklyn, New York. Response to listener on scarcity and its economic effects. More
March 30, 2014
Updates on labor struggles at the University of Southern Maine; how low interest rates hurt retirees; the super-rich getting state subsidies; Northwestern University athletes moving to unionization; the BBC on US unemployment; and Nestle's CEO vs. human right to water. Major discussions on income distribution vs. redistribution; Maryland cutting taxes on rich and leaving tipped workers' minimum wages at $3.63/hour; and a final segment on criticisms of capitalism. Response to listener's questions on Bill Gates' C-Span interview. More
March 25, 2014
Updates on GM recall, Bangladeshi women garment workers, and hi tech tax evasion. Major discussions of family income's relation to longevity and of the definition and criticism of capitalism. Response to listener on "spirits" guiding investors' behavior. More
March 16, 2014
Updates on the General Motors recall scandal; corporations' push for secret courts; the economics of marijuana; Radio Shack closings; and US workers leaving the labor force. Major discussions of the history and basics of the criticism of capitalism, and billionaires and extreme inequality as products of capitalism. More
March 9, 2014
Updates on International Womens Day; long-term unemployed; rich/poor cities; subsidies for biggest corporations; Google's hiring policies, Chrysler subsidies and Canada; and defeat of Arizona's discrimination law. Major discussions of (1) Bernanke's speech on FED's bail outs biggest financial corporations and (2) new IMF research show redistribution to reduce inequality does NOT hurt growth. Response to questions on how and why WSDEs perform better than capitalist enterprises and on why governments hire contractors vs public employees to provide services. More
March 2, 2014
Updates on Delta Airlines changes, US millionaires in office, irrational student debt, and Rupert Murdoch's wealth. Major discussions of monopoly and competition in media industry, public employee pension economics, and Obama's economic significance. Response to question on actual movements today for worker coops in UK and US. More
February 23, 2014
Updates on Olympics, Chicago university faculty strike, Chevron's contempt, Gallup poll on unemployment, rising consumer debt again, Europeans oppose privatization of water, and US adults marry less to cope with economy. Major discussions: how Soviet socialism actually worked and decline and inadequacy of pensions in US. Response to listeners on deflation in today's world economy.
February 17, 2014
Updates on polls showing most Americans want less inequality, why Tea Party types fixate on government debt, and why French and other far right parties gain support. Major discussion on US business recognizing death of middle class, the contradictions of Germany's position within Europe's economic crisis, and Part 1 of analysis of what USSR was. Response to listeners on why official unemployment targets are 4-6.5 % rather than feasible and better 0-0.5 % More
About Ecomomic Update
On Economic Update with Professor Richard Wolff, Wolff and guests will discuss the current state of the economy, both locally and globally in relation to the economic crisis.
Wolff focuses on wages, jobs, taxes, and debts – and on interest rates, prices, and profits. We aim to explain why certain economic changes are happening and other changes get postponed or blocked and we will explore alternative ways to organize enterprises, markets, and government policies. Economic Update is a weekly show for people who want to understand and change not only their own financial situation but also the larger economy we all depend on.
Economic Update is in partnership with Truthout.org