Ask Prof Wolff: Blaming Government for Capitalism's Ills

A patron of Economic Update asks: "According to a recent Axios article on Americans' trust in institutions (linked below), 77% say they trust their employers and 62% trust businesses, both outperforming NGO's and government by significant margins. After a mass upward transfer of wealth, decades of wage stagnation, union-busting and job outsourcing by businesses and employers, why do so many Americans still think so highly of these institutions? And what can be done to convince the average American that employers are not their friends, and have no incentive to act responsibly?"
Referenced Axios article on American's trust in institutions.

This is Professor Richard Wolff's video response.

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“A magnificent source of hope and insight.”
Yanis Varoufakis
Greek economist, academic, philosopher, politician, author of Talking to my daughter about the economy

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Showing 1 comment

  • Anonymous
    commented 2021-08-17 09:39:22 -0400
    I can definitely say regarding businesses in the post-coronavirus period and even now, businesses often need competent communication with customers. We had these problems ourselves at first, because we had to change our contact methods quickly and on the fly. So we decided to hire an outsourcing team, they are still running our business very successfully, we found here and we are very grateful to them for the way they handled this case as responsibly as possible. This is very cool and deserves respect.

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