Economic Update

 In honor of Karl Marx's birthday over this past weekend, Professor Richard Wolff offers a discussion of Marx's important theory of uneven development as central to capitalism. We show its widespread existence, using examples of it from the past and present. We conclude by showing how uneven development is at the root of key social[...]

 On this week’s Economic Update, Professor Richard Wolff dedicates the entire show to the economic developmental achievements of China, together with the historical background that motivated these achievements. We analyze the uniqueness of both the economic philosophy and the politics of contemporary China.

In this week’s Economic Update, Professor Richard Wolff devotes the program to understanding government spending, specifically how it shapes the larger society. We will focus on two questions 1) What is the government spending on? and 2) How is that money going to be used, and who benefits? If government spending only flows to capitalist[...]

In this week’s Economic Update Professor, Richard Wolff examines US spending on war materials for Ukraine and Israel, we will discuss Chinese Electric Vehicle imports and the US's protectionist response, and we will highlight the possible convergence of worker cooperatives as part of union negotiating strategies, and we discuss the impact of Harvard college workers[...]

In this week’s Economic Update, Professor Richard Wolff discusses how the capitalist political economy can explain the Baltimore Bridge disaster and we then explain why raising minimum wages helps big vs small businesses. We highlight the recent court rulings in New York and how cities can lower rents for their citizens as Kingston, NY just[...]

On this week’s Economic Update, Professor Richard Wolff discusses the US Treasury Department's charge against Apple as a monopoly, Georgia's state government siding openly with employers against unions, two union members deciding to enter important elections as independent voices in Nebraska and West Virginia, and a critique of the FED's policy that keeps inflation and[...]

This week features updates on resurging child labor in the US, college athletes voting to join unions, and unionization sweeping not-for-profit charities (hospitals, museums, etc) such as MassMoca in western Massachusetts. We will also have a major discussion of how capitalism concentrates power in mass media (including social media), in authoritarian internal structures of corporations,[...]

 On this week’s Economic Update, Professor Richard Wolff discusses the UAW union’s latest moves; their organizing drives at auto plants, their efforts to form unions among employed and free-lance journalists. In addition, we will highlight New York Governor Kathy Hochul’s decision to deploy national guard troops in New York City subways and what that means[...]

This week's episode of Economic Update hosted by Professor Richard Wolff, we discuss United Kingdom politician George Galloway's by-election victory, and the raised minimum wage in the UK. We will comment on Elon Musk's lawsuit against the NLRB, as Trader Joe's, Starbucks, and Amazon also join to ask the right-wing Supreme Court to gut regulation[...]

 This week's episode of Economic Update we discuss the underemployment of US college graduates, failed anti-Russian sanctions, the collapsed UK birth rate, and expanding wars in the Middle East. In addition, we will dive into the costs and risks in absence of a ceasefire in Gaza. Finally we Interview Dr. Harriet Fraad, host of Capitalism[...]

This week's episode of Economic Update hosted by Professor Richard Wolff, we discuss the Philadelphia University of the Arts Faculty Union and its struggles; we clarify what declining inflation does and does not mean; we answer the question: as to why sanctions fail. Finally we interview Essence Magazine's senior news & politics editor, author, and[...]

 In this week's episode of Economic Update hosted by Professor Richard Wolff, we discuss Germany's recession, California fast-food workers unionizing, how the war in Ukraine boosts the US stock market and corporate stock holdings, while hurting most wage/salary incomes. In addition we ask what lessons from the protest/revolt of European farmers? Finally, the ongoing exposing[...]

  In the latest episode of "Economic Update," Professor Richard Wolff takes us through a comprehensive exploration of pressing economic issues. From the evolving dynamics of remote work and corporate demands to the intricate economics of the Ukraine conflict, and the ripple effects of anti-Chinese sentiment in the US economy. The episode culminates with a[...]

This week's episode of Economic Update hosted by Professor Richard Wolff, we will be discussing the continuing decline of US manufacturing; a 29,000 person strike at California State Univ.; the Houthis disrupt Red Sea shipping in move against Israel; and Texas refuses to obey US federal government's rules in struggle over immigration and white supremacy.[...]

This week's updates are divided into two parts.  Part A: the special dimensions and qualities of the US labor movement's current dynamism, Piketty shows capitalism generates widening wealth and income gaps leading to crashes or else simmering, divisive, domestic resentments. The system itself becomes destabilized. It can then lurch to the left as happened via[...]

 This week's updates include:  information on the closing Greyhound bus stations, miscalculating strengths of Russian obstacle in Ukraine, UK empire cannot afford both Yemen bombs and National Health Service, Boeing aircraft safety debacle enables Chinese export leadership in global auto trade, Israel's caught also in the shifts and changes of the world economy as US[...]

 In this week's show, Prof. Wolff analyzes the corporation. It stands as a basic institution blocking real democracy in our society. The corporation's structure and operations empower and enrich a tiny social minority at the expense of the people's wealth and democratic power. Like the critiques of slave plantations and feudal manors that preceded the[...]

The so-called "decoupling" of the US and Chinese economies is NOT happening. Their economies are too deeply intertwined. The reality hidden by "decoupling" is just capitalism's usual uneven development. Capitalism relocated investment away from its old centers (Western Europe, North America and Japan) to China, India, Brazil et al. The US cannot stop or reverse that[...]

This program begins by analyzing the political monopoly (aka "The Center") operated by the GOP and Dems in the US: its organization and dominance until the last few years. The monopoly deteriorates as both GOP and Dem coalitions suffer splits and cracks opening opportunities for radical political shifts and perhaps new parties. The context of[...]

In this, the last episode of Economic Update for the year, Prof. Wolff presents updates on the Yale graduate & professional students’ union’s recent victory, how the writers/actors strike impacted the labor movement with a show of solidarity, Starbucks loses fight with its workers’ unionization, the National Institutes of Health votes to unionize and fight[...]