On this week's program, we question the effectiveness as well as the economics of US sanctions (Economic Warfare), also the American Federation of Teachers (AFT) endorses the United Auto Workers (UAW) plan of setting all union contracts to expire on May 1, 2028, essentially laying the groundwork for a "General Strike". We also highlight the latest rhetoric from the US Chamber of Commerce's declaration of a "labor shortage" which only masks their desire for government help in procuring more workers without having to offer higher pay and better working conditions to overcome the "phony" labor shortage.

Finally, we Interview Professor Clara Mattei from Rio as Brazil hosts G20 meetings and discuss the protest events calling for an end to the suffering of the people of Gaza.

Clara E. Mattei is an Associate Professor in the Economics Department of The New School for Social Research.

Give Them An Argument w/Ben Burgis interviews Richard Wolff, focusing on his new book "Understanding Capitalism." Wolff discusses capitalism, monopolies, and myths surrounding the economic system. He delves into the misconception that monopolies are the root of the issues within capitalism, explaining that while addressing monopolies is important, it does not fundamentally change the employer-employee relationship at the core of capitalism. He highlights the aspirations of many to become their own bosses as a form of subconscious critique of the current system. The interview touches on the evolving nature of capitalism and the need to consider what comes next in economic systems. Wolff also reflects on the legacy of Michael Brooks and shares insights on collaborative projects that were planned before Brooks' passing.

Don't miss Richard Wolff on The Socialist Program as they cover the recent stock market crashes and rebounds, highlighting the uncertainty and volatility in the market. They discuss the ruling against Google for illegal monopoly practices, exposing the impact on competition in the search industry. The conversation also delves into how capitalists exploit monopolies to inflate prices and generate profits, ultimately burdening consumers. The interview emphasizes the hidden costs of monopolies on working-class individuals and illuminates the manipulative tactics used by powerful corporations. Through a Marxist lens, they analyze the interconnected dynamics of competition and monopoly within capitalism, shedding light on the systemic inequalities perpetuated by corporate entities and billionaires.

Lena Petrova Podcast features Richard Wolff discussing the current phase the United States is in, comparing it to the decline of past empires. They delve into the economic factors contributing to the US economy's challenges, including the decline in demand for US debt held by foreign countries. The conversation also touches on shifting global power dynamics, potential risks of hyperinflation, and the importance of facing reality and seeking alternative perspectives to navigate the complexities of the current economic landscape. Despite expressing concern over leaders' reluctance to address these issues, both remain optimistic about the possibility of finding solutions through open conversations and collective action. Lastly, they highlight the importance of raising awareness and fostering dialogue to address the challenges at hand.

In this Lena Petrova Podcast interview, Richard Wolff discusses the concerning state of the U.S. economy and potential challenges ahead. He highlights the growing inequality of income and wealth over the past 40 years and the emergence of the People's Republic of China as a major economic competitor. Wolff expresses fears of potential turmoil in the banking sector due to high vacancy rates in commercial real estate and banks losing liquidity. He mentions the lack of a national plan to address these issues, with the only solution seeming to be seeking government bailouts. Wolff emphasizes the uncertainty surrounding future economic developments, influenced by factors like political decisions, global trade dynamics, and the rise of economic nationalism.

The Socialist Program welcomes Richard Wolff to discuss the success of Huawei despite U.S. sanctions and the role of state funding in its growth. Wolff criticizes the propaganda around government subsidies, stating that such support is common in the U.S. and plays a crucial role in industries like agriculture and defense. He highlights the failure of economic warfare, exemplified by sanctions imposed by the U.S., and emphasizes the decline of the American Empire. Wolff contrasts the economic models of China and the U.S., noting China's hybrid 50-50 split between private and state-owned enterprises and the different outcomes of their industrial policies. Lastly, he points out the ideological bias in narratives about Huawei and stresses the need for informed discussions on economic warfare and government subsidies.

Both Trump and Biden imposed high tariffs on imported products made in China and other countries. Those impositions broke with and departed from the previous half century’s policies favoring “free trade” (less or minimal government intervention in international markets). Free trade policies facilitated “globalization,” the euphemism for the post-1970 surge in U.S. corporations’ investing abroad: producing and distributing there, re-locating operations there, and merging with foreign enterprises there. Presidents before Trump had insisted that free trade plus globalization best served U.S. interests. Both Democratic and Republican administrations had enthusiastically endorsed that insistence. Dutifully performing ideological support duties, they stressed how globalization’s benefits to U.S. corporations would “trickle down” to the rest of us. Globalizing U.S. corporations used portions of their profits to reward both parties with donations and other electoral and lobbying supports.

In this episode of The Zero Hour with RJ Eskow, Richard Wolff shares insights on global wealth inequality highlighted in recent studies from Oxfam and Wilkinson and Pickett. The interview discusses how capitalism, once heralded for ideals like equality, has perpetuated deepening inequalities over the years. Addressing the failure of regulated capitalism, Wolff argues that the system allows the wealthy to capture regulators, hindering effective change. The conversation delves into how the education system and societal structures contribute to intellectual inequality, limiting diverse perspectives and perpetuating existing power structures. Finally, a personal anecdote from Wolff sheds light on the delusions of grandeur that perpetuate inequality among those at the top of the hierarchy.

Don't miss Richard Wolff on WDRT 91.9fm as they cover various critical economic topics. Dr. Wolff discusses the changing global economic landscape, highlighting the rise of China as a major economic player. He emphasizes the need for resiliency in facing economic challenges and advises diversifying investments, including in gold. Dr. Wolff raises concerns about the declining American economy and its impact on job markets and trade. The interview concludes with insights on adapting to a shifting economic environment and the importance of being prepared for potential changes ahead.

Join Richard Wolff on The Socialist Program as they explore the impact of billionaires like Elon Musk endorsing and financially supporting political campaigns, such as Trump's, with a focus on the changing economic landscape and the tensions between old and new capitalists. They discuss the historical pattern of capitalism that shifts based on profitability, causing conflicts within capitalist groups who seek different government interventions in their favor. The conversation delves into how current political tendencies, like proposing extreme tariffs against China, signify a declining American empire unwilling to adapt to a changing global dynamic. Wolff argues that the U.S. lacks genuine representation for the working class, with both Democrats and Republicans maintaining a system that benefits the wealthy elite at the expense of the majority. The interview concludes by emphasizing the urgent need for the U.S. to acknowledge its declining status and to cooperatively engage with emerging global powers for a sustainable future.