Economic Update Episode List: Season 11

Become a Patron!

Season 11   |   Season 10   |   Season 9   |   Season 8

To view older seasons, please visit our YouTube channel.


Season 11

Season 11 began in January 2021, and will run through December 2021.


Signs of System Decline

No Guest

October 2021 (Season 11 - Episode 38)

Watch on YouTube  | 

On this week’s show, Prof. Wolff presents updates on the following topics: US wars lost: against Afghanistan, Iraq, and Covid; private profit from climate disaster; systemic infrastructure neglect; decline of whites in US; UK fears about US loss in Afghanistan; capitalism's profit-driven "long supply chains;" and lastly, workers power against employers in US today.


EU_S11_E37_US_Workers.pngHow U.S. Workers Are Really Treated

Guest: Tess Fraad-Wolff and Leila Roberts

October 2021 (Season 11 - Episode 37)

Watch on YouTube  | 

This week on Economic Update, Prof. Wolff pays homage to Mikis Theodorakis, Greek musician and political hero, and discusses Starbucks workers in Buffalo, the economic fallout of Supreme Court's anti-abortion act, what Hurricane Ida fatalities show, and the $8 trillion cost of US wars since 9/11. The second half of the show features an interview with Leila Roberts and Tess Fraad-Wolff on the harsh realities of US treatment of workers this Labor Day season, 2021.


Native Americans & American Socialists

Guest: David Cobb and Michelle Vassel

October 2021 (Season 11 - Episode 36)

Watch on YouTube  | 

On this week's show, Prof. Wolff present updates on global supply chain slow-downs; student costs/debts in US, UK far higher than in most peer nations; FED adds inflation to the ways its policies worsen income and wealth inequalities; and lastly, higher gun sales and violence since 1990s despite the dramatic declines in violent crime rate. The second half of the show features an interview with Michelle Vassel (administrator of Wiyot tribe) and David Cobb (Director of Cooperation Humboldt) on their ongoing political collaborations.


EU_S11_E35_OWS.pngOccupy Wall Street: Analysis & Legacy

No Guest

September 2021 (Season 11 - Episode 35)

Watch on YouTube  | 

This program is devoted to Occupy Wall Street (OWS) on its 10th anniversary. Prof. Wolff discusses OWS as a historic turning point, as legacy for the US left, and his personal experience. Wolff presents OWS's 4 basic causes, its anti-capitalist economics, and its lessons.

*This episode of Economic Update was developed as part of a collective effort to explore the legacy of Occupy, in light of this 10 year anniversary. Through this project you can also hear analysis on the impact of Occupy from The Dig & Upstream. The producing partners for this project are the Rosa Luxemburg Foundation’s New York office and The New School’s Milano program. We encourage you to learn more and listen to some of the other episodes by visiting RosaLux.NYC/Occupy.


The Rational and Irrational in Anti-Vaxxers

No Guest

September 2021 (Season 11 - Episode 34)

Watch on YouTube  | 

On this week's show, Prof. Wolff presents updates on the complexities of anti-vaccination movements, the long decline of religion in US capitalism, Disneys’s shift to serve the richest, lessons from AFL-CIO chief Richard Trumka's leadership, and failures of GOP and Dem leaders to stop last 75 years of decline of manufacturing in the US economy (driven by corporate profitability).


EU_S11_E33_Stuck_Nation.png20 Years After 9/11, the U.S. Is Still a "Stuck Nation"

Guest: Bob Hennelly

September 2021 (Season 11 - Episode 33)

Watch on YouTube  |  Read Episode Transcript

On this week's show, Prof. Wolff presents updates on Alabama miners' strike, how China's focus on reducing inequality affects competition with the US, and the economics of the "right to repair" consumers' movement in the US. The second half of the show features an interview with investigative reporter Bob Hennelly, author of Stuck Nation: Can the United States Change Course on Our History of Choosing Profits Over People?


EU_S11_E32_Extremes_Rich_Poor.png

Extremes of Rich & Poor in U.S. Capitalism

No Guest

August 2021 (Season 11 - Episode 32)

Watch on YouTube  |  Read Episode Transcript

This week on Economic Update, Prof. Wolff discusses the new US program for monthly child benefits; why Covid strengthens some and divides other nations; the myth of "labor shortage;" the real cost of ultra-luxury cruises; Uber and sexual assaults; and lastly, the outsized US costs of healthcare.


Liberating Technology from Capitalism

Guest: Wendy Liu

August 2021 (Season 11 - Episode 31)

Watch on YouTube  |  

On this week's show, Prof. Wolff provides updates on two small labor victories (Vermont's AFL-CIO and 4000 pork-processing meat cutters in Sioux Falls), how global capitalism became even more unequal during the pandemic, Iceland's move to the 4-day work week, US students hobbled by debt, and why "labor shortage" is actually class war. On the second half of the show, Wolff interviews Wendy Liu, author of "Abolish Silicon Valley: How to Liberate Technology from Capitalism."


EU_S11_E30_Chile_Feminist_Revolution.png

Chile's Feminist Social Revolution

Guest: Rodrigo Roa Fernandez

August 2021 (Season 11 - Episode 30)

Watch on YouTube  |  

On this week's show, Prof. Wolff discusses the election of a socialist, African-American woman as new mayor in Buffalo, NY; US unemployment insurance's meager support for jobless; Teamsters target Amazon workers for union drive; veterans' suicides and the costs of US wars. On the second half of the show, Wolff interviews Rodrigo Roa Fernandez, Chilean revolutionary activist on his country's new feminist movement, Constituent Assembly, and new Constitution.


A US Left Rises to Remake the World

Guest: Astra Taylor

August 2021 (Season 11 - Episode 29)

Watch on YouTube  |  Read Episode Transcript

On this week's show, Prof. Wolff presents updates on the "Friends" reunion and what it teaches, how China outmaneuvers US tariffs, etc., and how Yellow Vests plus French unions defeated Macron "reforms." On the second half of the program, Wolff interviews Astra Taylor, filmmaker and debt rebellion activist.


Best Year's of US Lie in its Past

Guest: Prof. August Nimtz

August 2021 (Season 11 - Episode 28)

Watch on YouTube  |  Read Episode Transcript

On this week's show, Prof. Wolff talks about Chipotle Mexican Grill blaming its price increases on its workers, economist Arthur Laffer's claims that many poor, minority workers "not worth $15/hour." and false claims that lower taxes help economic growth while higher taxes hurt it. On the second half of the program, Wolff interviews August H. Nimtz, Jr. on today's crisis of a declining U.S. capitalism, its impacts and implications.


EU_S11_E27_Capitalism_Shrinking_Popularity.png

Capitalism's Shrinking Popularity

No Guest

July 2021 (Season 11 - Episode 27)

Watch on YouTube  |  Read Episode Transcript

On this week's show, Prof. Wolff discusses French voters abstaining (66%), and rejecting party establishments in the face of social crisis; Seattle City Council helps tenants with law changes as conservatives seek to recall progressive Council leader Sawan; growing US economic inequality cuts mass consumption and thus hurts US economy; June 2021 polls show capitalism losing, socialism gaining among US adults including Republicans; Washington Post columnist seeks to ban billionaires as bad for society.


The Challenge of Progressive Unionism

Guest: David Van Deusen

July 2021 (Season 11 - Episode 26)

Watch on YouTube

On this week's show, Prof. Wolff discusses Wall Street money corrupting US elections and the facts of a declining US capitalism (wage stagnation driving inequality, rising health and education costs, falling real social security benefits, unequal wealth of people of color vs whites, gross worsening of US income and wealth inequalities). On the second half of the show, Prof. Wolff is joined by David Van Deusen, President of Vermont state AFL-CIO, to talk about the victories of progressive unionism.


Inflation & Labor Shortages

No Guest

July 2021 (Season 11 - Episode 25)

Watch on YouTube | Read Episode Transcript

On this week's show, Prof Wolff talks about the social effects of inflation and the lack of accountability on the part of employers. Capitalist employers set prices with the only motive of maximizing. Employees, the vast majority, must live with inflation but are excluded from decisions setting prices. Employers scream “labor shortage” to get the government to force workers back to work at low wages. Employers also recover from economic crashes while undercutting workers’ efforts to do the same - and that's how capitalism works.


EU_S11_E24_How_Capitalism_Shapes_Our_Food.png

How Capitalism Shapes Our Food

Guest: Mark Bittman

June 2021 (Season 11 - Episode 24)

Watch on YouTube | Read Episode Transcript

In this episode, Prof. Wolff presents updates on the economic aspects of the Covid pandemic: lockdowns vs vaccines, scientific debate vs corporate advertising, long-term vs short term costs, the billionaires made by profiting from vaccines, and false claims of vaccine profiteers. In the second half of the show, Prof. Wolff is joined by former NY Times food-critic Mark Bittman to discuss his new book "Animal, Vegetable, Junk."


Insurgent Working Class & Organization

Guest: Prof. Manny Ness

June 2021 (Season 11 - Episode 23)

Watch on YouTube

In this week's show, Prof Wolff presents updates on the efforts to finally add dental, vision, and hearing coverage to Medicare, the effects of Trump's tariffs on China, and the contradictions between capitalist profiteering and healthcare. In the second half of the show, Wolff is joined by Professor Manny Ness to discuss worker insurgencies and political organizations in the global South today.


EU_S11_E22_Center_Cannot_Hold.png

The Center Cannot Hold

No Guest

June 2021 (Season 11 - Episode 22)

Watch on YouTube

This program begins by analyzing the political monopoly (aka "The Center") operated by the GOP and Dems in the US: its organization and dominance until the last few years. The monopoly deteriorates as both GOP and Democrat coalitions suffer splits and cracks opening opportunities for radical political shifts and perhaps new parties. The context of a declining US capitalism facing mounting unsolved social problems adds to the winds of change as do pressures to resort to repression. Wolff affirms that the Center cannot hold.


A "Living Wage"

Guests: Prof. Carlo Fanelli and Prof. Bryan Evans

June 2021 (Season 11 - Episode 21)

Watch on YouTube

On this week's show, Prof. Wolff comments on how and why "consumerism" matters and on why Biden's "progressive shift" is both like and unlike (far more limited so far) FDR's. Wolff then interviews two Canadian professors of labor studies, Carlo Fanelli and Bryan Evans, on the stakes for labor in fighting for a "living wage.


EU_S11_E20_Labor_Capitalism_Rise_Fall.png

Labor & Capitalism's Rise & Fall

Guest: Prof. Michael Hillard

May 2021 (Season 11 - Episode 20)

Watch on YouTube

On this week's show, Prof. Wolff discusses Congress Bills H.R.51 giving statehood to Washington, DC, and H.R.1 countering GOP efforts to restrict voting; and Biden's tax reforms to help pay for new and expanded government programs. In the second half of the program, Wolff interviews Prof. Michael Hillard on the role of labor in the dramatic rise and fall of Maine's paper industry, a parable for the economic difficulties facing the US today.


Valuing Work by Women of Color

Guest: Prof. Nina Banks

May 2021 (Season 11 - Episode 19)

Watch on YouTube   |   Read Episode Transcript

On this week's show, Prof. Wolff discusses Bernie Madoff's $ 82 billion swindles and capitalism's incentives for swindling, the economics of wars in Iraq and Afghanistan, US government's racist housing policies, and refuting the defense of capitalism as "lifting people out of poverty." On the second half of the show, Wolff is joined by Professor Nina Banks to talk about economics and correcting the undervaluing of community building work by women of color.


Capitalism vs. DemocracyEU_S11_E17_US_Capitalism_Nationalism.png

No Guest

May 2021 (Season 11 - Episode 18)

Watch on YouTube   |  Read Episode Transcript

On this week's show, Prof. Wolff presents an analysis of how and why capitalism is an undemocratic economic system. The first half is devoted to the micro-level, namely to the organization of the enterprise (factory, office or store). Its undemocratic character is exposed using examples and empirical evidence. The second half has a macro-level focus that shows how capitalism's generation of growing income and wealth inequality impels the employer class (a small numerical minority) to use their money politically. Their practice undermines real democracy leaving only its empty forms.


How US Capitalism Uses NationalismEU_S11_E17_US_Capitalism_Nationalism.png

No Guest

May 2021 (Season 11 - Episode 17)

Watch on YouTube   |   Read Episode Transcript

From 1945 to 1990 we were told a great struggle pitted capitalism against socialism/communism (chiefly the USSR and China). Yet still today, US leaders demonize Russia and China despite the end of communism in the USSR and a huge growth of capitalist enterprises in China. The explanation lies in US capitalism's long history of using nationalism (i.e. foreign dangers) to justify tax-payer funded government actions to protect, subsidize, and support major capitalists' dominant position in the US economy.


A Green 3rd Party for the U. S. 

Guest: Dr. Jill Stein

April 2021 (Season 11 - Episode 16)

Watch on YouTube   |   Read Episode Transcript

On this week's episode, Prof. Wolff talks about Rolls Royce's $400,000 cars, unionization defeat at Amazon, why Biden boom is just hype, and progressive wins in the New York state budget. On the second half of the show, Wolff welcomes Green Party leader Dr. Jill Stein to discuss the achievements and goals of an anti-capitalist 3rd party.


Workers Successfully Take Over Their WorkplacesEU_S11_E15_Marcelo_Vieta_(1).png

Guest: Prof. Marcelo Vieta

April 2021 (Season 11 - Episode 15)

Watch on YouTube   |   Read Episode Transcript

On this week's show, Prof. Wolff discusses how the US home rental market is failing over 20% of all renters, and the basic flaws in Biden's $2 trillion infrastructure proposal. On the second half of the show, Prof. Wolff interviews Prof. Marcelo Vieta on his studies of workers' success in taking over enterprises mismanaged by capitalists.


Marxism's Ongoing Relevance

No Guest

April 2021 (Season 11 - Episode 14)

Watch on YouTube   |   Read Episode Transcript

After clearing away the Cold War debris that blocked discussion of Marxism's insights since 1945, we focus on Marxism's core contribution to (1) thinking about and (2) changing modern capitalist society. That contribution is class structure and class struggle. Marxism explores how class struggle exists in capitalism, how it influences all of social life, and how it changes over time. Marxism also envisions the end of class struggles as its social change goal now.


When Economic Systems FailEU_S11_E13_Rob_Urie.png

Guest: Rob Urie

April 2021 (Season 11 - Episode 13)

Watch on YouTube   |   Read Episode Transcript

On this week's episode, Prof. Wolff talks about the structural failure of Biden's American Rescue Plan, Nigerian mass workers' movement, private electricity for the US rich, big vs small business struggles, and why opposition to lockdowns only prolongs Covid. On the second half of the program, Wolff interviews author Rob Urie on criticizing capitalism.


Dems' Self-Promotion vs. Hard Economic RealitiesEU_S11_E12_Bob_Hennelly.png

Guest: Bob Hennelly

March 2021 (Season 11 - Episode 12)

Watch on YouTube   |   Read Episode Transcript

On this week's show, Prof. Wolff discusses the US coal industry decline, Brazil's Covid disaster, economic surge after Covid, and Elizabeth Warren's wealth tax proposal. On the second half of the show, Wolff interviews investigative journalist Bob Hennelly on the gap between Biden regime actions and pronouncements, and the hard realities of economic depression and "food insecurity.


Finally A Tiny Sales Tax on Stocks

Guest: James S. Henry

March 2021 (Season 11 - Episode 11)

Watch on YouTube

On this week's show, Wolff talks about the taxing of CEO pay in the US, the immoral and self-defeating vaccine policy, and LeBron James speaking out on social issues. On the second half of the show, Wolff interviews attorney James S Henry on the struggles for a stock transfer tax in New York, the US and globally.


People to People: Horizontal Social ChangeEU_S11_E10_Marina_Sitrin.png

Guest: Prof. Marina Sitrin

March 2021 (Season 11 - Episode 10)

Watch on YouTube   |   Read Episode Transcript

On this week's show, Prof. Wolff presents updates on the Texas energy catastrophe, the 'Robinhood/Reddit' Wall Street incident, college workers organizing, Hollywood's dependency on China, and how New Zealand used total lockdown to beat Covid and support its economy. In the second half of the program, Wolff interviews Prof Marina Sitrin on pandemic solidarity and horizontal social action.


Socialism and Puerto Rico

Guest: Senator Rafael Bernabe

March 2021 (Season 11 - Episode 09)

Watch on YouTube   |   Read Episode Transcript

On this week's EU, Prof. Wolff presents updates on worsening US inequality, universities borrowing more, billions earned by hedge funds in 2020, Bezos "charity" giving, Macron and French conservatives' anti-Americanism, and Communists after 1945 vs Proud Boys now. On the second half of the show, Wolff interviews socialist Senator Rafael Bernabe from Puerto Rico.


EU_S11_E07.pngThe System Implodes: Amazon, Evictions, Tax Abuses & Minimum Wage

No Guest

March 2021 (Season 11 - Episode 08)

Watch on YouTube   |   Read Episode Transcript

On this week's show, Prof. Wolff discusses Amazon's profits; New York state's eviction crisis and capitalism's reproduction of poverty and inequality; New York's stock transfer tax; raising the minimum wage; and the subsidizing of billionaire's big sport businesses.


EU_S11_E07.pngWhy Capitalism Reproduces Inequality & a Solution

No Guest

February 2021 (Season 11 - Episode 07)

Watch on YouTube   |   Read Episode Transcript

The extreme economic inequalities of both global and US capitalism are not new or exceptional. Capitalism reproduces inequality and repeatedly blocks or reverses redistribution efforts.Inequality stems from capitalist enterprises' internal organization: a tiny minority, employers, with dominant, unaccountable power enriches itself at the expense of all others, the employee majority. To overcome capitalism's inequality requires democratizing its enterprises' organizations.


The US Political Right in Anger & Mourning

Guest: Prof. Arlie Hochschild

February 2021 (Season 11 - Episode 06)

Watch on YouTube

 

On this week's show, Prof. Wolff presents updates on the radical policies of Berlin's city gov't and its Die LInke Party; why raising minimum wage to $15/hour is too little, too late; how bans on evictions and utility shut offs fight Covid-19; and lastly, he argues for the urgent need for a changed China policy. On the second half of the show, Wolff interviews Prof. Arlie Hochschild on her 10 year study of the US political right.


EU_S11_E04_Women_Better_Sec.pngHistory's Lessons on Capitalism's Failures: Germany & US

No Guest

February 2021 (Season 11 - Episode 05)

Watch on YouTube   |   Read Episode Transcript

On this week's show, Prof. Wolff evaluates capitalism by how it deals with Covid-19 and talks about Boeing's latest fatal crash. The second half of the show is dedicated to a major discussion of the causes of Hitler in Germany as offering clues to the rise of Trump and the assault on the Capitol.


EU_S11_E04_Women_Better_Sec.pngWhy Women Have Better Sex in Socialism

Guest: Prof. Kristen Ghodsee

February 2021 (Season 11 - Episode 04)

Watch on YouTube   |   Read Episode Transcript

On this week's show, Professor Wolff explains where the government is respected and empowered, nations have effectively contained the Covid-19 pandemic. He gives examples including New Zealand, Taiwan, South Korea, Cuba, Vietnam, and China. Alternately, where the government is demonized, disrespected, distrusted, the pandemic has been devastating. Examples of this include the UK and the US. Wolff argues that a rational economy includes both less and more government-regulated private enterprises plus state-owned and operated enterprises according to which performs best to meet society's needs. No fundamentalist "either/or" arguments are justified. Finally, he says how private and government enterprises are internally organized - hierarchical or alternatively democratic worker-co-op - is equally important.


EU_S11_E03_Economics_Lesson.pngThe Economics Lesson Taught by the Pandemic 

No Guest 

January 2021 (Season 11 - Episode 03)

Watch on YouTube   |   Read Episode Transcript

On this week's show, Professor Wolff explains where the government is respected and empowered, nations have effectively contained the Covid-19 pandemic. He gives examples including New Zealand, Taiwan, South Korea, Cuba, Vietnam, and China. Alternately, where the government is demonized, disrespected, distrusted, the pandemic has been devastating. Examples of this include the UK and the US. Wolff argues that a rational economy includes both less and more government-regulated private enterprises plus state-owned and operated enterprises according to which performs best to meet society's needs. No fundamentalist "either/or" arguments are justified. Finally, he says how private and government enterprises are internally organized - hierarchical or alternatively democratic worker-co-op - is equally important.


Noam Chomsky on Prospects & Tasks as 2021 Begins

Guest: Noam Chomsky

January 2021 (Season 11 - Episode 02)

Watch on YouTube   |   Read Episode Transcript

This week, Professor Wolff gives updates on President-elect Biden's economic advisor "team", how Argentina's women's movement leads the defeat of the government and Roman Catholic Church oppositions to win legalized abortion and now targets other basic social changes, and how the deepening inequality of US wealth and income cause and reflect the growing gap between stock market prices and the depressed Main street US economy. The second half features an interview with Noam Chomsky on political and economic realities and possibilities facing us in 2021.


EU_S11_E01.pngExternalities & Capitalism's Inefficiencies

No Guest

January 2021 (Season 11 - Episode 01)

Watch on YouTube   |   Read Episode Transcript

This program introduces the economic concept of "externalities." Those are the real costs of employers' business decisions that employers do not pay for or take into account: costs "external" to businesses' profit/loss calculations. Examples include costly damage to the environment, to employees' private lives, etc. Those real social costs are external and additional to capitalists' private costs. Therefore, capitalists' investment decisions based on comparing costs and revenues do NOT take into account the real, external costs. Thus their decisions are not "efficient." Capitalism never was the efficient system its apologists claim.


 
Other Seasons of Economic Update


Season 11   |   Season 10   |   Season 9   |   Season 8

To view older seasons, please visit our YouTube channel. 



Episode transcripts are made possible by our volunteer transcription team. Would you like to join the team? Learn more on our Get Involved page.

  
This show is made possible by donations to Democracy at Work. We'd specifically like to thank our recurring donors and Patreon patrons, whose regular monthly gifts allow us to plan into the future and expand our reach. 

Become a monthly donor  |  Support the show on Patreon

 


 


Showing 2 comments

  • Victor Sciamarelli
    commented 2021-02-02 07:23:00 -0500
    Professor Wolff offered another brilliant Economic Update on February 1, 2021. I would like to add something to the discussion on the minimum wage and wealth tax.
    Rather than look at the wages of the poor, I sometimes ask people about the wages of the rich. For example, imagine you have an excellent position such that, after you pay taxes and bills, you have $400,000 to put aside each year as savings: How many years will it take to accumulate $1 billion? I add, don’t try to do the math just give me a gut reaction. Most people said between 30 and 100 years, a few around 200, one person said 1,000 years, but nobody came close to the real answer which is 2,500 years: Saving $100,000 per year will take 10,000 years to reach $1 billion.
    We talk of billionaires, but earning $1 billion per year means you earn $2.8 million every day. And earning $15 per hour, or roughly $30,000 per year, means you need to work 93 years to earn what the billionaire earns in one day; and work 33,300 years to earn $1 billion.
    I mention this not to add confusion with more numbers but to point out that, in my estimation, few people have a real notion about how much wealth the richest among us like Bezos are really sucking out of the economy for themselves. Many people are smart and creative but they don’t earn nearly as much; something else is going on when a handful of people can grab so much for themselves.
  • Liz Phillips
    published this page in Economic Update 2021-01-11 11:00:38 -0500
Please check your e-mail for a link to activate your account.

Become a Monthly

[email protected]

Supporter

Sign Up!


Follow Us


Facebook Friends:

Which of your Facebook friends have joined

d@w

Connect to Find Out:


patreon_promo-01.png