Economic Update: How Markets Fail


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On this week's Economic Update, Prof. Wolff provides updates on Johnson Controls Corp evades taxes, Disney sued over abuse of HB-1 visa system, French workers strike against austerity and against socialist government; response to listeners on tax-subsidies for churches and lessons of Israel's kibbutz experience, Major discussion of (a) 5 major market failures, and (b) major change in UK Labor Party policy favoring worker coops.

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  • Martin Screeton
    commented 2016-02-02 20:07:57 -0500
    Loved the update and the stories… “the market” does not really work that well… I’ve notice over the years the marketing adjusting to the poverty of the people which is a race to the bottom for everybody! one every level that basically destroys the stability of families since they are working all the time and don’t have time left over to even play with their children! My/Our children (I’m 56) have never seen nor participated in a protest or labor action. I think this is a shame on US… i remember going to strike headquarters with my dad when i was 9/10 years old and learning all about protest and striking! I’m glad to see Europeans have not lost this form of cohersion…

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