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Tag: economics

Todays EU: The Insane Prices of Super Bowl Ads

Todays EU: The Insane Prices of Super Bowl Ads

This is Today’s Economic Update. I’m Richard Wolff from Democracy at Work. I want to talk today, as I have in the past, about what it means to live in a society where we have the best government money can buy. The recently completed Super Bowl in the United States gets tens of millions of people gathered together to watch the television at the same time — one of the largest audiences ever, doing one thing at one time, to…

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Economic Update: Capitalisms Uneven Development [Trailer]

Economic Update: Capitalisms Uneven Development [Trailer]

In the language of the ancient Greeks inequality, imbalance, is bad for social cohesion, for holding communities together. Imbalance is capitalism’s normal way of functioning. The anxiety born of capitalism that if you have something, and people who don’t get some, it’ll be at your expense. The important thing is not to think that it’s necessary. This is not about nature, this is not about automatic, this is not about neutral. This is a product of capitalism. And you know…

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Richard Wolff Debunks the Myth of Low Unemployment

Richard Wolff Debunks the Myth of Low Unemployment

One of the reasons the unemployment rate is low is not that we don’t have lots of people looking for work, it’s actually worse. It’s we have a lot of people who have given up looking for work. Because in our statistical system in the United States, the government (the Bureau of Labor Statistics), when it looks at the working people, says you can either have a job (than you’re employed), you can have no job and be looking (then…

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Mapping how railroads built America | Maptastic ep 3

Mapping how railroads built America | Maptastic ep 3

Welcome to Maptastic. Now you might think that you know the US. But we’re going to look at some maps that show it in a completely different light, looking at some new data that shows us how the US has built up over the last two centuries from East Coast to West Coast. Now cartographers love nothing more than new data to put on maps. And today, I’m with my colleague, Steve Bernard, who is our master cartographer at the…

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Richard Wolff on Military Spending

Richard Wolff on Military Spending

How do you pay for war in this country? An issue that is becoming more urgent each day, as with the assassination of that Iranian general by Mr. Trump. War is paid for, usually, by debts. And the reason for that is simple. If you made the people in a society, like the United States, actually pay with taxes for what a war costs, they’d be a lot less pro-war than they might otherwise be. So you kick the can…

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Black men: Making it in America (Part 2) – interview with Ronald Mincy | VIEWPOINT

Black men: Making it in America (Part 2) – interview with Ronald Mincy | VIEWPOINT

Brad: Hey everyone, this is part two of our discussion with Ronald Mincy. It picks up right where we left off in part one. Welcome back. So we’ve, kind of…we go beyond just looking at, sort of, trends in economic success and trends in poverty in this report to investigate what are the factors that are associated with greater success for black men in America. And one of the things that we, kind of, investigated, sort of, how, you know,…

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Marx Part 2: Capitalism’s Consequences | Philosophy Tube

Marx Part 2: Capitalism’s Consequences | Philosophy Tube

March is my month of Marx: In Part 1 we learned about Labour and Class conflict. In this Part 2 we’ll be looking at capitalism’s consequences, vis-a-vis Alienation. As well as being a generally bad time for anybody who worked in a factory, the other thing Victorian England was famous for was machines: automation, and this is gonna become very important later in the series. Remember Marx thought that value comes from labour. A machine, then, for Marx, is like…

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AskProfWolff: Are monopolies good for competition?

AskProfWolff: Are monopolies good for competition?

This question was sent in by anonymous, someone who doesn’t want his or her name known, and of course we respect that. Like all the questions it was sent in to the Ask Prof Wolff page of our website rdwolff with two Fs dot com. Anonymous asks about what happened to the old argument, the criticism of capitalism if you like, that said that competition gave way to monopoly, and that when you had monopolies all kinds of bad things…

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AskProfWolff Is religion an opium of the people?

AskProfWolff Is religion an opium of the people?

This is a response to G. McNamara, who writes and asks me, “Is religion the opium of the people? Is it a barrier to worker solidarity and cooperation?” You know, this question arises often, and it’s an important one. It has to do with how people influenced by the Marxian tradition look upon that famous line that Marx wrote, that religion is the opium of the people. But what has often happened is that people didn’t read the whole quote….

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Economic Update: U.S. Economy and the Market

Economic Update: U.S. Economy and the Market

Welcome, friends, to another edition of Economic Update, a weekly program devoted to the economic dimensions of our lives – jobs, incomes, debts – all of that. I’m your host, Richard Wolff, and today I want to begin by dividing our program into two major discussions. The first part will be the condition of the US economy at the end of this summer, 2019. And the second topic will be the market, this institution that gets such a remarkable play…

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