Economic Update: Capitalism's Shadow: Poverty

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On this week's episode, Prof.Wolff presents updates on European sanctuary cities, McDonald's automation, Travis Kalanic, and ritzy restaurant rips off workers. Anti-poverty activist Rob Robinson joins Prof. Wolff for the second half of the show.

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Showing 9 comments

  • Dan Fairbairn
    followed this page 2017-07-07 04:22:30 -0400
  • Joseph A. Mungai
    commented 2017-07-06 04:57:58 -0400
    Allies: http://www.classwarfilms.com/allies.html

    Let Your Life Be a Friction to Stop crapitalism (22:51) https://www.youtube.com/watch?v=N2Xh5eN2fXY
  • Joseph A. Mungai
    commented 2017-07-04 12:01:19 -0400
    “The Museum of Capitalism” (2:40) https://www.youtube.com/watch?v=JkZMRD29p_0
  • Joseph A. Mungai
    commented 2017-07-04 11:52:47 -0400
    “Modern Monetary Theory”, Another way to address climate change, poverty, Medicare for All, tuition free college … (1:09:17) https://www.youtube.com/watch?v=7ccvE2be0d8
  • Joseph A. Mungai
    commented 2017-07-04 11:45:34 -0400
    Could UBI be another way to organise our economies away from Capitalism? — Professor Wolff: “To answer your question directly: it could be. But that depends on how UBI is understood and then used. As other commentators have pointed out, in capitalism there are basically two sources of income: labor and property. Labor incomes include wages, salaries, fees for services rendered etc. Property incomes include rentals, profits, dividends, interest, capital gains and so on. The key point here is that capitalism already dispenses income to people unconnected with their work. So UBI would NOT be a new ideas in the sense of disconnecting income from work. What UBI does is make that disconnect universal, for everyone rather than just for owners of income-earning property (usually a small minority of the population). If we do not believe that providing income without requiring work to property owners has not dampened their incentives to be socially productive, I see little reason to worry about that in regard to universalizing such a basic income distribution so everyone gets it. The way to do this is also simple: tax property income and distribute it equally to all persons. Framed in that way, yes, UBI could be a step toward the next system, toward doing better than capitalism.” http://www.rdwolff.com/jrider/what_are_your_views_on_universal_basic_income
  • Martin Screeton
    commented 2017-07-03 00:47:29 -0400
    Professor Wolff… I’ve been watching and listening to you for at least 5 years and have not heard a thing out of you about Universal basic income and exactly how this would be implemented… seeing is how it would solve two problems… generational poverty and as well.. inject a ton of money into consumer spending which is 70%+ of our economy. Could not the US treasury just issue this as an income that is Taxable? (so fed, state, and local taxes could be collected on it) and as well again… as a shot into our flatlined GDP? It’s seems to me this is a Win Win for both Poverty and the Business community…
  • Martin Screeton
    followed this page 2017-07-03 00:47:00 -0400
  • Tom Welsh
    commented 2017-07-02 15:58:25 -0400
    Regarding the “ritzy restaurant rips off workers” segment at the end of Part I: OUCH! As a longtime resident of the Pacific Northwest USA, I urge Prof. Wolff to check on correct pronunciations of regional places….especially if he is going to, as in this case, emphasize and spell the name of the place he is discussing (and in this case, a recognized Native American nation). It is LUMMI, as in “tummy”, NOT LOOMY, as in “loonie”. (The ironic sociopolitical implications of this ripoff are rife, given the sad history of discrimination against the Lummi Nation, but that is another story.) Otherwise, fine program as always…
  • Tom Welsh
    followed this page 2017-07-02 15:57:26 -0400

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