Economic Update Episode List: Season 12

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To view older seasons, please visit our YouTube channel.


Season 12

Season 12 began in January 2022, and will run through December 2022. 


Instability - Capitalism's Constant

No Guest

December 2022 (Season 12 - Episode 47)

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In this week’s show, Prof. Wolff presents updates on the Twitter-Musk scandals, critique of profit as return to risk, mass European union-led strikes against inflation, economic crisis of 54 poorest nations today, US General Assembly vote against US embargo (sanctions) against Cuba, and an analysis of crypto-currency collapse.


EU_S12_E46_Anand_Giridharadas.pngPersuasion vs. Polarization

Guest: Anand Giridharadas

November 2022 (Season 12 - Episode 46)

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In this week’s show, Prof. Wolff discusses the massive strike of Canadian public employees; economics of the unemployed; business owners, executives and lawyers dominate US state legislatures; and how rising interest rates push the most vulnerable to the margins of US capitalism. In the second half of the show, Wolff interviews Anand Giridharadas on his new book, The Persuaders.


The Terminal Crises of Global Capitalism

Guest: Prof. William I. Robinson

November 2022 (Season 12 - Episode 45)

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In this week's show, Prof. Wolff presents updates on students' solidarity with workers at Smith College; US car industry manipulates supply/demand to inflate prices, profits; Teamsters strike, solidarity defeat Sysco Systems; Starbucks provokes its 250 unionized stores, and why rising wages do not "cause" inflation. In the second half of the show, Wolff interviews Prof. William I. Robinson on global capitalism and its multiple crises he calls "terminal."


Nomi Prins on the Distorted US Financial System

Guest: Dr. Nomi Prins

November 2022 (Season 12 - Episode 44)

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In this week's show, Prof. Wolff talks about a new Congress report on huge US wealth inequality; Angela Merkel on relying on Russian oil and gas, the irrationality of 20,000 immigrants dumped on NYC, and Harvard exploiting its tax-exempt status. In the second half of the show, Wolff interviews Dr. Nomi Prins, former Goldman Sachs director, on the distorted US financial system and its social effects.


EU_S12_E43.pngCapitalism vs Socialism is NOT Markets vs Planning

No Guest

November 2022 (Season 12 - Episode 43)

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This week on Economic Update, Prof. Wolff shows how the economics of existing capitalist and socialist economies make use of both markets and planning. The opposition of markets and planning is largely false and has worked to distract students and observers of economic systems from better differentiations such as how they differently organize their workplaces: hierarchical in the case of capitalist, democratic in the case of worker cooperatives. Some major implications of this critique of the "planning versus market" obsession are discussed in relation to the US, Soviet Union, and China.


EU_S12_E42.pngAna Kasparian on Today's US Crisis

Guest: Ana Kasparian

October 2022 (Season 12 - Episode 42)

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In this week's show, Prof. Wolff discusses US sanctions against Chinese semiconductor chip makers, OPEC+ cuts oil production by 2 million barrels per day boosting inflation, desperate UK conservatives abandon Brexit scapegoat to cozy up to Europe, and what US might do to solve "labor shortages." In the second half of the show, Wolff is joined by Ana Kasparian, host of “The Young Turks,” to talk about the media and today's US crisis.


Means TV - An Anti-Capitalist Netflix

Guest: Nick Hayes

October 2022 (Season 12 - Episode 41)

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In this week's show, Prof. Wolff discusses global capitalism's "perfect storm" (inflation + rising interest rates + reduced production = "stagflation"); 1000 SFO food workers strike and win; FedEx reinforces "stagflation" predictions, and hurricane Ian confirms system's failures to plan for predictable disasters to lessen their costs and impacts. In the second half of the show, Wolff interviews Nick Hayes of Means TV on how it has grown as an "anti-capitalist" Netflix.


EU_S12_E39_Economics_Colonialism_Pt2.pngThe Economics of Colonialism Pt. 2 - The Neo-colonialism Variation

No Guest

October 2022 (Season 12 - Episode 40)

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In this week's show, Prof. Wolff presents a brief summary of last week's Part 1 as basis for analyzing how WW2 provoked the political independence struggles that changed colonialism into neo-colonialism; how and why political independence is not, by itself, a break from colonialism; why neocolonialism lasts into the present and positions a rich minority of each former colony as the ally, collaborator, and agent of continued entrapment of the former colony within global capitalism. Modern neocolonialism likewise positions a poor majority that seeks real economic independence alongside political independence. The politics of most countries in the world - who are mostly ex-colonies - is a deep class war between that neocolonial minority and its majority/adversary.


The Economics of Colonialism Pt. 1 - The British Empire

No Guest

October 2022 (Season 12 - Episode 39)

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This week's show focuses on an analysis of capitalist colonialism that begins with the passing of Queen Elizabeth as a monument to the passing of the British Empire itself. Wolff discusses the differences between pre-capitalist and capitalist colonialism, the goals of capitalist colonialism, the development of a world economy, examples of India, US, and Kenya, the centrality of independence for ex-colonies, and neo-colonialism.


Insecure Housing is a Social Crime

Guest: Leilani Farha

October 2022 (Season 12 - Episode 38)

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In this week's show, Prof. Wolff talks about the large strikes in Seattle (teachers) and Minnesota (nurses), the significance of Sweden's big vote for ex-Nazi party, and how anti-Russia sanctions cause US electricity prices to rise at twice the inflation rate. In the second half, Wolff interviews Leilani Farha, global campaigner for housing as a human right and against the financialization of housing.


EU_S12_E37_George_DeMartino.pngThe Harm Done by Economists

Guest: Prof. George DeMartino

September 2022 (Season 12 - Episode 37)

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This week on Economic Update, Prof. Wolff talks about the unionization drive among minor league professional baseball players, high poverty rates among US families working full-time year round, and the economics of discrimination against pregnant women. In the second half of the show, Wolff interviews Prof. George DeMartino on the harm done by the economics profession and why it denies doing so.


Rising Labor, Faltering System

No Guest

September 2022 (Season 12 - Episode 36)

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This week on Economic Update, Prof. Wolff talks about the prospects for a labor-union-worker co-op alliance; megacorp stock buybacks; why and how US/UK sanctions on Russia failed so far; the financial abuse of US retirees; and lastly, union popularity in US at 50-year high.


EU_S12_E35_RobRobinson_Homelessness.pngRecord Homelessness Defies US "Solutions"

Guest: Rob Robinson

September 2022 (Season 12 - Episode 35)

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In this week’s show, Prof. Wolff gives updates on China's changed global economic strategy, California's struggle over higher minimum wages, Boston Mayor siding with Starbucks' strikers, and “regulatory capture" issue again as Philip Morris hires top FDA tobacco scientist. In the second half of the show, Wolff interviews Rob Robinson, formerly homeless community organizer, on today's record homelessness despite decades of programs to "solve" the homelessness crisis.


What is Communism?

No Guest

September 2022 (Season 12 - Episode 34)

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This program covers the origins, evolution, and current significance of "communism." After a brief history of communism as a utopian ideal of community, we treat Marx's presentation in the Communist Manifesto, and then communism's subordination to "socialism" to World War 1. That War changed everything. It split socialists everywhere into a Socialist Party and a Communist Party with key differences but also commonalities. When most European communist parties collapsed, socialism once again became the only major systemic left position. Yet the utopian longings expressed by communism left many on the left dissatisfied with modern socialisms. They searched for a possible solution, a new kind of communism located in workplaces organized as democratic, worker co-op.


EU_S12_E33_Loneliness_HFraad.pngLoneliness - Capitalism's Collateral Damage

Guest: Dr. Harriet Fraad

August 2022 (Season 12 - Episode 33)

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In this week’s show, Prof. Wolff presents updates on record homelessness in New York City, rapidly rising US household debt as recession looms, Washington retreats from globalization to economic nationalism, and 2.2 million in the US lacking running water. In the second half of the show, Wolff Interviews Dr. Harriet Fraad, mental health counselor, on capitalism's loneliness crisis.


Recession - Capitalism's Failure Invites System Change

No Guest

August 2022 (Season 12 - Episode 32)

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In this week's show, Prof. Wolff defines recession and shows its relation to inflation and stagflation in their respective roles within capitalism's inherent instability. Rooted in the structure of capitalism, recessions represent both costly burdens on employers and employees alike and also strong incentives to question, challenge, and go beyond capitalism. The economics profession has been unable to end recessions despite centuries of trying. The profession often tries to hide the capitalist roots of recession instead. Wolff concludes with how system change might finally "solve" capitalism's intractable instability problem.


EU_S12_E31_VJ_Prashad.pngThe Deepening Fragility of US Power

Guest: Vijay Prashad

August 2022 (Season 12 - Episode 31)

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In this week’s show, Prof. Wolff presents updates on successful unionization at Trader Joe’s, lottery tickets as disguised regressive taxation, gasoline inflation brings record profits to big oil companies, and pharmaceutical industries' ad campaign to block gov't plan to buy medications in bulk and pass savings onto public. In the second half of the show, Wolff interviews Vijay Prashad on his new book with Noam Chomsky on the fragility of US global power.


Noam Chomsky on Fragile US Empire

Guest: Noam Chomsky

August 2022 (Season 12 - Episode 30)

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In this week’s show, Prof. Wolff gives updates on US freight workers strike preparations; progressives and labor targeting municipal government; Chipotle store-closing to stop unionizing, and Occupy Wall Street's "Debt Collective" $5.8 billion student loan forgiveness win. In the second half of the show, Prof. Wolff interviews Noam Chomsky on the decline and fragility of the US empire, the role of US military, and the rise of fascism as a coping mechanism.


EU_S12_E29_Marianne_Williamson.pngMarianne Williamson on US Politics

Guest: Marianne Williamson

August 2022 (Season 12 - Episode 29)

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In this week's show, Prof. Wolff presents updates on the decline/fall of Boris Johnson and the parallels with Trump; the Sri Lanka collapse and its lessons; Match Corp secretly funding sides in "culture wars" to keep customers, and the latest from UK's Conservative party. In the second half of the show, Wolff talks with Marianne Williamson on the basic social divisions of US politics.


Twin Upsurges - Unionizing and Left Politics

No Guest

July 2022 (Season 12 - Episode 28)

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In this week's show, Prof Wolff discusses the unionization efforts by post-doc medical researchers vote union, central bankers mislead on inflation, rising economic footprint and power of BRICS nations, and left victory in Colombia's elections. The second half of the show will feature discussions of the relevance of Marx's Labor Theory of value and the French political shift leftward with wide ramifications.


Swedish Socialism Undone

Guest: Eleanor Goldfield

July 2022 (Season 12 - Episode 27)

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In this week's show, Prof. Wolff presents updates on SCOTUS decisions, on the chaos of a declining capitalism, French elections and a strongly resurging French left, and on the meaning of recent collapse of the cryptocurrency markets. In the second half of the show, Wolff interviews Eleanor Goldfield, Swedish-US media activist, on why and how Sweden is not socialist.


EU_S12_E26_Great_Replacement.pngThe Great Replacement Theory

No Guest

July 2022 (Season 12 - Episode 26)

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In this week's show, Prof Wolff discusses the replacement theory's grain of truth amidst its mostly ideological function: to save capitalism from criticism. He analyzes why US capitalists deprived so many white, male, Christian workers of their jobs, incomes, and social standing over recent decades and why that analysis was largely silenced by Cold War taboos since 1945. Were a new US left-labor alliance now to offer that critical-of-capitalism alternative, replacement theory's notion of a great conspiracy (largely by Democrats) to replace white, male, Christians with "others" would be far less socially influential.


EU_S12_E25.pngPolitical Divides Deepen

Guest: Katie Halper

June 2022 (Season 12 - Episode 25)

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In this week's show, Prof. Wolff presents updates on US's groceries inflation; US teacher crisis; capitalists profiting from guns and protection from guns, UN report on global suffering from Ukraine war's and sanctions regimes' costs to world's people in terms of fuel, food, and interest rate inflations; and median New York City rent of $4,000/month make city housing increasingly unaffordable to most New Yorkers. In the second half of the show, Wolff is joined by Katie Halper: podcaster, writer, and filmmaker who talks about political decline in the US


Crosscurrents of US Politics

Guest: Krystal Ball

June 2022 (Season 12 - Episode 24)

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In this week's show, Prof. Wolff talks about the effect of Ukraine sanctions on inflation, Musk as economic dictator, Idaho progressives’ impressive gains, and offers a practical response to shootings. In the second half of the show, Wolff interviews media host Krystal Ball on US politics.


EU_S12_E23_Thom_Hartmann.pngIs the US Facing Another Civil War?

Guest: Thom Hartmann

June 2022 (Season 12 - Episode 23)

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In this week's show, Prof Wolff discusses the stale old debate (competition vs monopoly) and which to blame for inflation; unionization drives across US campuses, and Eastern Kentucky University in particular; how US stores manage inflation; and Elon Musk's peculiar economic "morals." In the second half of the show, Wolff interviews Thom Hartmann on divided US politics.


EU_S12_22.jpegThe System is The Problem

No Guest

June 2022 (Season 12 - Episode 22)

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In this week's show, Prof. Wolff talks about insurers defrauding pensions, record highway deaths, inflation and risk, interest rate rises, Massachusetts to vote on millionaires tax, Starbucks CEO as dictator, and Mitt Romney's sudden concern with "fairness" exposed.


EU_S12_E21.jpegCapitalism's Flaws Fester

No Guest

May 2022 (Season 12 - Episode 21)

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In this week's show, Prof. Wolff discusses today's US child care workers' crisis; how sanctions on Russia profit fossil fuel companies and worsen pollution; systemic causes of the US infant formula shortage; how food corp executives helped write Trump's 2020 order keeping Covid-plagued meatpacking plants operating; meat price inflation vs. general US inflation; and how cryptocurrencies (including "stablecoins") are as unstable as money has historically been.


War and the Left

Guest: Prof. Marcello Musto

May 2022 (Season 12 - Episode 20)

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In this week's show, Prof. Wolff talks about the GOP's stance on student debt forgiveness, US corporations replacing home ownership with rentals, today's US economy not "strong," and left unity, as 4 French left parties work to defeat Macron. In the second half, Wolff interviews Prof. Marcello Musto on the history of the left and Marxism, and how they deal with war in the past and in Ukraine.


EU_S12_E19_Emily_Guendelsberger.pngJobs Driving Us Mad

Guest: Emily Guendelsberger

May 2022 (Season 12 - Episode 19)

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In this week's show, Prof. Wolff presents updates on the unionization of Grinnell College student-workers; US GDP drops 1.4% in Q1 of 2022; food inflation versus rationing; Germany's refugee shame; small US businesses to plan price inflation; and western corporations leaving Russia replaced by eager corporations from China, India, Turkey, Brazil etc. In the second half of the show, Wolff interviews Emily Guendelsberger, author of On the Clock, on how badly paid, insanely stressful jobs are the workplace future facing the US.


Housing - Human Right vs. System Failure

Guests: Manon Vergerio & Velvet Ross (aka Fannie Lou Diane)

May 2022 (Season 12 - Episode 18)

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In this week's show, Prof. Wolff discusses global impacts of food inflation, endless class struggle over length of the workday and workweek and US deaths by guns. In the second half of the show, Wolff interviews housing activists Manon Vergerio and Velvet Ross (Fannie Lou Diane) on the US housing crisis, homelessness and evictions.


EU_S12_E17_Inflation_Markets.pngInflation - How Markets Fail

No Guest

May 2022 (Season 12 - Episode 17)

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In this week's show, Prof. Wolff talks about Sri Lanka’s economic crisis as a global example, and how US billionaires escape taxation at our expense. In the second half, Wolff discusses how and why the market system produces inflations like today’s.


Progressive Politics Win

Guest: Gayle McLaughlin

April 2022 (Season 12 - Episode 16)

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This week on Economic Update, an analysis of Ukraine propaganda war, US inflation worsens, the US college debt crisis and New York City eviction crisis looms. In the second half of the show, Wolff interviews Gayle McLaughlin, former Mayor and City Council member, Richmond, CA on winning progressive politics.


EU_S12_E15_Ukraine_Empire.pngUkraine & An Empire’s Decline

Guest: Chris Hedges

April 2022 (Season 12 - Episode 15)

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This week on Economic Update, Prof. Wolff discusses nurses’ suicides as results of our profit-driven healthcare, sanctions and their effect on inflation, US states where 40% of workers earn under $15/hr, and US corporate profits triple from 2008 to present. In the second half, Wolff talks with host and journalist Chris Hedges about Ukraine and the end of the US empire.


Capitalism & Its Self-Delusions

No Guest

April 2022 (Season 12 - Episode 14)

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In the first half of this week's show, Wolff evaluates US capitalism as a system of production and distribution of goods and services. In the second half, he compares the evaluation with the very different self-image of dominant voices within US capitalism. His conclusion: US capitalism has peaked and finding it very difficult to face its decline.


EU_S12_E13_Amazon_9.46.56_AM.png

Amazon Workers Organize a Union

Guest: Christian Smalls

April 2022 (Season 12 - Episode 13)

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This week on Economic Update, Prof. Wolff talks about oil and gas inflation, its impacts, and politicians' phony solutions, the stagnant US gender pay gap and its significance, and why Americans are experiencing economic crisis, while Biden pretends the US economy has "recovered" and is in great shape. In the second half of the show, Wolff interviews Amazon union leader Chris Smalls about union organizing efforts across Amazon and beyond in a revived labor militancy.

***Since the recording of this episode last week, the Amazon Labor Union secured a major victory and has established the first Amazon union in the country under the leadership of @Chris.Smalls_. This is a historic event and we want to express our congratulations to Chris and the Amazon Union workers on this historic feat.


Christian Socialism

Guest: Prof. Joerg Rieger

March 2022 (Season 12 - Episode 12)

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This week on Economic Update, Prof Wolff presents updates on Amazon workers' strike, the impact of US inflation, and the underappreciated economic aspects of Russia-Ukraine war. In the second half of the show, Wolff interviews Prof. Joerg Rieger on Christian Socialism, past and present.


EU_S12_E11_Ukraine.png

Ukraine, Race and Class

Guest: Prof. Adolph Reed, Jr.

March 2022 (Season 12 - Episode 11)

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This week's show on Economic Update, Prof. Wolff talks about the emerging new world order, Ukraine and inflation, and the economics of sanctions. On the second half of the show, Wolff is joined by Prof. Adolph Reed, Jr. to discuss race, class and the US left.


What Marx & Marxism Offer Us Today

No Guest

March 2022 (Season 12 - Episode 10)

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This week's show features a discussion of what Marx offers in the way of a basic critique of capitalism and an alternative economic system that would be better for most people, and how this differs from mainstream economics.


EU_S12_E09_Green_2Party.png

Green Party vs. 2-Party Monopoly

Guests: Gloria Mattera and Michael O’Neil (Green Party)

March 2022 (Season 12 - Episode 09)

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On this week's show, Prof. Wolff talks about the UK selling visa to the rich, why "non-profit" is really "un-taxed," Apple's CEO's 2021 pay of $99 million, AOC and NYPD arrests for stealing diapers and kids' medicines, cleaning products. Green Party leaders Gloria Mattera and Michael O'Neil join Wolff in the second half.


Unaffordable Housing

Guest: Rob Robinson

February 2022 (Season 12 - Episode 08)

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This week on Economic Update, Prof. Wolff presents updates on the 2021 record 100,000 opioid overdose deaths in the US, the savage reductions in K-12 public education, inflation's profiteers, and offers a different take on the truckers' convoy in Canada. The second half of the show features an interview with activist Rob Robinson, formerly homeless, now a professor advocating for public housing.


EU_S12_E07_Covid_Criminals.png

Covid Criminals, Pandemic Profiteers

Guest: John Nichols

February 2022 (Season 12 - Episode 07)

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On this week's show, Prof. Wolff presents updates on Mississippi's legalization of pot, US's $30 trillion national debt, Mexican workers at GM plant vote in militant union, and Amazon's 17% price increase (after a year of record profits), as much of nation already suffers from 7% inflation. In the second half of the show, Wolff interviews John Nichols, author of Coronavirus Criminals and Pandemic Profiteers.


Fascism

No Guest

February 2022 (Season 12 - Episode 06)

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On this week's show, Prof. Wolff talks about the US' 2021 trade deficit and its implications, the FED's inflation policy dilemma, and the political economy of the Baltimore and Bronx fires. In the second half of the show, Wolff uses the actual history of fascism in Italy, Germany and Spain to analyze the positions and prospects of fascism in the US today.


EU_S12_E05_AvivaChomsky.png

Rebuilding a Labor and Left Movement

Guest: Aviva Chomsky

February 2022 (Season 12 - Episode 05)

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This week on Economic Update, Prof. Wolff presents a critique of US Megacorp merger (Microsoft and Activision Blizzard), China vs US on inflation and economic growth, and the collapse of Boris Johnson (like Trump's lost election). In the second half of the show, Wolff interviews author Aviva Chomsky on problems and prospects of US labor and left social movements.


The Socialism Issue

No Guest

January 2022 (Season 12 - Episode 04)

Watch on YouTube  |  Read Episode Transcript

On this week's show, Prof. Wolff talks about the recreation of `company towns' (eg., Kalamzoo, MI) by the richest US capitalists, Biden and the reality of US jobs lost, how and why the US follows UK decline, and rising mass alienation from established political leaders and parties. The second half of the program features a discussion of socialism without Cold War taboos.


EU_S12_E03_Guest_FabianScheidler.png

The End of the Megamachine

Guest: Fabian Scheidler

January 2022 (Season 12 - Episode 03)

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On this week's show, Prof. Wolff talks about the sharp reduction in US population growth; how "lockdowns" are the anti-Covid policy everywhere, some gov't run and focused while others are private, haphazard, and unfocused. In the second half of the show, Prof. Wolff is joined by Fabian Scheidler, author of The End of the Megamachine: A Brief History of a Failing Civilization.


Emotions and US Politics Today

Guest: Tess Fraad-Wolff

January 2022 (Season 12 - Episode 02)

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On this week's show, Prof. Wolff talks about US bank closings as a sign of system decline; victory for 3000 striking Columbia University students; Laredo, Texas combats food deserts with co-ops; pandemic years worsen global inequalities, US defense bill aggravates US capitalism's inequalities. Special guest Tess Fraad-Wolff joins the second half of the show to discuss the role of emotions in US politics today (by Dems and GOP establishments but also Trump and Bernie wings).


EU_S12_E01.png

Strikes Amid Reviving US Labor Movement

Guest: Mike Elk

January 2022 (Season 12 - Episode 01)

Watch on YouTube  |  Read Episode Transcript

This week on Economic Update, Prof. Wolff presents updates on Huawei vs Cisco, Europe's exploding energy prices falsely blamed on Covid, Robert Kuttner announces he has become a socialist, polls show big drop in religious affiliation and praying especially among Christians from 2007 to 2021 as secularism accelerates. In the second half of the show, Prof. Wolff is joined by Mike Elk of Payday Report to discuss the growing wave of US strikes since the pandemic began.


 
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Showing 1 comment

  • Francoise Hall
    commented 2022-01-31 03:21:52 -0500
    01/31/22. This is a comment on Economic Update Season 12, Episode 4, “The Socialism Issue.” Perhaps the reason why neither capitalism, nor socialism, nor communism has changed the situation of workers is that treating workers as inanimate objects is the only way that production can be predicted.

    I refer you to the book by German dramaturge and author Fabian Scheidler, entitled, The End of the Megamachine — a Brief History of a Failing Civiiization (2015), English translation 2020 by Zero Books.

    Since the Scientific Revolution, economists and scientists have wanted to have a predictable world — a world which functions according to calculable laws of cause and effect, and is, therefore, controllable. Capitalism, socialism, and communism treat their workers as inanimate objects mindlessly obeying commands, and thereby are assured of a predictable economic output.

    By treating workers as living beings with a mind of their own, workers’ coops are much less able to predict future production.

    I would appreciate your thoughts in a future Economic Update.

    .
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