Newsworthy
Capitalist Speculators Drive the Dangerous Math Behind Nuclear Energy
Richard Wolff joins The Socialist Program to discuss the recent 233% surge in uranium prices over five years due to geopolitical tensions and a shift in energy demands. Wolff emphasizes that the price spike is being driven not only by increased interest in nuclear energy as an alternative to Russian fuels but also by speculators seeking capital gains. He critiques the capitalist system for prioritizing profit over environmental and public health, highlighting how massive subsidies for fossil fuels could be redirected to develop renewable energy. Wolff also touches on the pressures faced by countries like India and China, as they seek to develop while dealing with historical economic disparities. Ultimately, he underscores the need for mass movement and public engagement to overcome the capitalist interests dominating global energy policy decisions.
More →U.S. Escalates ‘Nuclear’ Risk: World Stands On 'Edge' Of Destruction
On David Lin's show, Richard Wolff covers the topic of escalating tensions in the Ukraine conflict and the potential descent into World War III not being adequately addressed in mainstream media. He outlines how Western powers, by potentially allowing Ukraine to conduct strikes inside Russia and discussing the use of Russia's seized assets to fund Ukraine's war efforts, have drastically escalated the situation. Wolff suggests that this confrontation is the most severe since the Cuban Missile Crisis, with the potential to broaden into a direct conflict involving the U.S. and Europe. Additionally, he touches on economic dimensions, criticizing U.S. sanctions against Russia as ineffective due to strengthening Russia-China ties, and he also presents his views on domestic economic policies, recommending alternatives to interest rate hikes for combating inflation. Lastly, Wolff advocates for workplace democracy, arguing that it could resolve economic dysfunctions and promote a broader democratic ethos.
More →U.S. Health System Fails Cancer Patients, But Wildly Successful for Investors
Richard Wolff provides insights on The Socialist Program regarding the problematic nature of profiteering in the American healthcare system, especially the impact on cancer patients. He criticizes the system's failure to provide essential services and the resultant medical bankruptcies that affect two-thirds of Americans. Wolff emphasizes the stark contrast between the U.S. healthcare model and universal healthcare systems in Europe and other countries, which manage to cover all citizens at a lower cost and with better health outcomes. Discussing the immense profits of insurance companies and pharmaceuticals, he sees a fundamental need for a systemic overhaul to achieve equitable healthcare access. Despite being achievable under capitalism, Wolff argues that entrenched interests make such health reforms difficult without significant political transformation.
More →The End of Financial Colonialism | Richard D. Wolff and Michael Hudson
Dialogue Works features Richard Wolff and Michael Hudson discussing the evolving geopolitical climate, specifically focusing on the shifts in global power dynamics involving Russia, China, and the West. He talks about the complex interplay between international trade, political ideologies, and the apparent failure of the U.S. to adapt to a multipolar world moving away from dollar hegemony. Both Wolff and his fellow speaker express doubts about the effectiveness of current U.S. foreign policies, criticizing their aggressive stance towards China and Russia. They predict worsening global relations unless there is a significant shift toward cooperation, and they highlight the potential for emerging economies to reset their financial and trade frameworks independent of the U.S. influence. Lastly, the interview touches on the diminishing impact of two-party political systems and the long-term implications of ongoing global conflicts.
More →The Critical Hour: Weekly News Wrap Up (25.05.2024)
Richard Wolff provides insights on The Critical Hour regarding the state of the U.S. labor market, dismissing the notion that low unemployment is a sign of strength when wages and purchasing power are not keeping pace with inflation. Wolff argues that the real measure of a strong labor market should include job security, adequate benefits, and living wages that can keep up with the cost of living. He criticizes the mainstream narrative that the economy is strong when many Americans are experiencing a deterioration in their economic conditions. Citing historical examples, Wolff suggests alternative measures to combat inflation, such as price controls, that don't rely solely on interest rate hikes which can exacerbate the problem. Lastly, he calls out the disconnect between official economic indicators and the reality faced by non-supervisory, working-class Americans.
More →Lena Petrova: APWest’s Colossal Mistake: Us Decline, Rise of BRICS, Tariffs Damage US Economy
In this interview with Lena Petrova, Richard Wolff shares insights on the United States' waning dominance in the global economy, exacerbated by tariffs, sanctions, and a changing international power landscape. He highlights how U.S. external and internal economic policies are failing to adapt to the rise of competing economies, such as China, and the resultant shift to protectionism which may stoke further inflation. Wolff also critiques the growing national debt, which he connects to a mismatch between government spending demands and an aversion to raising taxes, leading to unsustainable borrowing. He foresees a generational shift as younger Americans question capitalism and propose more democratic workplace structures as a solution to inequality and systemic problems. Throughout, Wolff emphasizes the importance of recognizing and addressing deep-seated economic issues rather than relying on political posturing or short-term fixes.
More →Dialogue Works: Ukraine Collapsing, Russia-China Alliance Tightens, NATO in Decline
In this Dialogue Works Interview, Richard Wolff talks about the shifting global economic dynamics with the rise of BRICS nations challenging the longstanding dominance of the G7 countries. He argues that China's economic growth and strategic alliances have created a larger economic unit than the G7, compelling nations worldwide to realign their economic ties. Wolff highlights the risks of American decline and the importance of recognizing this shift, as illustrated by the United States' strategic missteps with Russia and the war in Ukraine. He suggests that internal economic systems and class struggles deeply influence global power dynamics, potentially overshadowing geopolitical conflicts. Lastly, Wolff criticizes the US policy responses, such as increased tariffs, as symptomatic of a failure to adapt to a changing world order where other nations are capitalizing on globalization more effectively.
More →The Socialist Program: Biden’s Tariff War on Clean Energy
Richard Wolff provides insights on The Socialist Program regarding the Biden administration's imposition of heavy tariffs on Chinese goods, particularly electric vehicles and green tech, as a protective measure for U.S. industries. Wolff argues that these tariffs are a response to American companies' failure to compete globally, particularly against China's advancements in electric vehicle production. The tariffs, he asserts, may lead to higher costs for American consumers and contribute to inflation, as it stifles competition and gives U.S. companies less incentive to innovate. Additionally, he criticizes the political motivations behind these tariffs, which are influenced by election politics and corporate lobbying rather than genuine concern for job creation or the climate crisis. Ultimately, Wolff suggests this protectionist strategy is indicative of a decline in American competitiveness and offers a critique of the capitalist system's approach to employment and environmental sustainability.
More →The Critical Hour: Weekly News Wrap Up (11.05.2024)
In this The Critical Hour interview, Richard Wolff talks about the false narrative presented by capitalism's proponents regarding its benefits and the historical struggle required for workers' advancements. He critiques the stagnant federal minimum wage in the U.S. and highlights the resistance of capitalist structures to improve workers' livelihood. Wolff also dismantles the notion that China's success is attributable to capitalism, crediting their socialist approach for lifting millions out of poverty. He further argues that criticisms of China's and Russia's political systems are rooted in their refusal to submit to Western hegemony, not their actual governance models. Lastly, Wolff insists that America's decline is the result of systemic economic issues rather than external factors, challenging listeners to critically assess the reality of global economic shifts.
More →Labor Support for Palestinians
The opposition to the war in Gaza by U.S. Labor Unions began early, with historically progressive Unions speaking out first. Local 10 of the International Longshoreman Workers Union (ILWU) passed a resolution on November 17, which sends “a message to the PGFTU [Palestinian General Federation of Trade Unions] expressing our solidarity and determination to take action in their defense consistent with our actions in the past and the ILWU’s principled position of defending Palestinian rights.”The resolution also calls the October 7 Hamas-led surprise attack that killed an estimated 1,200 Israelis “indefensible,” and states that “the UN calls Gaza an ‘open air prison’ of 2.2 million Palestinians. Under such repressive conditions it is no surprise that there would inevitably be a rebellion but this in no way justifies Israel’s genocidal bombing of civilians in Gaza.”“We additionally call on other trade unions both natio0nally and internationally to support PGFTU [Palestinian General Federation of Trade Unions], a ceasefire and an end to Israeli apartheid oppression. . . ”
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