Global Capitalism: December 2016 Monthly Economic Update

Global Capitalism:

"Trump's Ideas for Jobs, Taxes, Trade: What Those Plans Mean For Us"

These programs begin with 30 minutes of short updates on important economic events of the last month. Then Wolff analyzes several major economic issues. For December, these will include:

  1. Worker coops and jobs;
  2. Worker coops and taxes;
  3. Worker coops/capitalist firms: a two-sector system.
Our goal: To develop all participants’ understanding and ability to explain current economic events and trends to others. We open the floor to questions and comments when time permits. 
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Showing 3 comments

  • Cheryl McGovern
    commented 2017-08-13 20:29:46 -0400
    I really agree with the worker coop framework for companies but how do retirement pensions get funded without stocks and dividends? Publically traded companies return dividends to investors who save their money and then retire on their investments. If companies are no longer publically traded and are owned by the workers how will the workers get a retirement pension?
  • Dominika Szczygielska
    commented 2016-12-20 06:25:45 -0500
    Christian Caporrimo – If you are disappointed, watch CNN, MSNBC, and tens of other channels that constantly crucify Trump. Dr. Wolff won’t talk as they do because his goal is to provide his listeners with the truth. He is not interested in propaganda; he is unbiased and fair. He always points out negatives, but, at the same time, he does not have a problem to credit people when they deserve it – despite their political affiliation.

    I appreciate Dr. Wolff’s style. In fact, his unbiased way of presenting information is what made me trust him. I can’t, however, trust those who can only criticize their opponents.

    At the end of your comment, you stated that the US citizens “have already shown that they are willing to accept four more years of blundering, lying…” What other choice did they get? Clinton – the corrupt war criminal, who, together with her husband, destroyed the democratic party? I voted for Jill Stein, but, for the majority, she was not even a choice – simply because many of them did not even know who she was. (I talked to my pharmacist and few other random people about the election. When I mentioned her name, they either did not know her, or they repeated the mainstream media propaganda related to her candidature.)

    I agree with you that Trump’s presidency may lead us to a conflict with China, but when it comes to war with Russia, not Trump’s, but Clinton’s presidency would lead us to it. Don’t forget that Clinton was the one who constantly accused Putin of things he did not do, and recently, she even threatened him with the use of military force despite lack of the evidence.

    I am happy that Clinton was not elected. Her presidency would destroy the left wing. If Trump ends up being bad president, the right wing will be blamed. In result, the country will move to the left. If Clinton were elected, the left wing would be blamed, which would result in electing someone as crazy as Cruz four or eight years from now.

    I think that we should stop speculating and crucifying Trump before he even started his tenure. Instead, we should start taking steps to improve our choices in the next presidential election – making sure that we won’t end up again with Clinton or another similar corrupt criminal for whom the word, “democracy” is nothing more than a tool to gain votes of naives and uninformed.
  • Christian Caporrimo
    commented 2016-12-16 14:45:12 -0500
    I gotta say, Dr. Wolff, I’m a little disappointed in your analysis of Donald Trump’s [empty] promises to the working class especially with the Carrier deal. You say that Trump will have to maintain this visage of doing things for the working class. But the Carrier workers are already disillusioned by the fact that he only actually saved 500 jobs, another 1300 are still going to Mexico and he had to give 7 million dollar tax benefit and promises to reform the tax code to allow UTC boss Hayes to virtually “print money.”

    That tax break along with the restructuring of tax codes will place a new and different burden on the working class. I’m very surprised you didn’t point this out in your analysis and kept wondering if Trump will “actually be able to do it”. He has no interests in doing anything for the working class that he isn’t a part of. His role is clearly spelled out with the choices he has made thus far for his cabinet appointees with 3 hawkish wartime generals, 4 billionaires, and the rest industry boss / moguls who are multimillionaires.

    I don’t think there ever was a plan for the Trump government to capture the hearts and minds of the workers. We have a clear example of repressive and violent fascism coming to power. Rather than winning hearts and minds with policies that are doomed to destroy the working class, the Trump regime will go down in history as the first outwardly violent and repressive to take the reigns of US hegemony. War with China and, likely, Russia along with their growing list of allies is becoming a virtual guarantee. Just how many hearts and minds would need to be won if there is a repressive police state at home and one or more major (and potentially eschatological) wars that the US seems to be inevitably moving towards? The US citizens have already shown that they are willing to accept 4 more years of a blundering, lying, fool if it meant not “changing horses midstream”.
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