Ask Prof Wolff: Corporate Debt & Government Bailouts

A Patron of Economic Update asks: "You frequently mention the amount of corporate debt in America (which exceeds $18 trillion, an outdated statistic by now), despite having record profits, which are used to buy back stocks to pay dividends to shareholders. As this is the case with capitalism, the bubble always bursts eventually. Under "normal" conditions, the losers would be absorbed by winners, but since we're in End Stage Capitalism, it seems like all the companies in debt would be losers. Would the government bail them out? Or would the companies simply cease to exist? I know you can't predict the future, but I'm hoping you can lay out some possible scenarios based on historical parallels, if there even are any."

This is Professor Richard Wolff's video response.

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