A patron of Economic Update asks: "Today, my economics teacher was trying to argue that price controls (price ceilings and floors) on landlords somehow creates housing shortages because it widens demand to relatively lower income people. Do you believe his assertion is correct?"
This is Professor Richard Wolff's video response.
Submit your own question to b...
2021-01-19 01:02:00 +0000 UTC View Post
[S11 E02] New
This week, Professor Wolff gives updates on President-elect Biden's economic advisor "team", how Argentina's women's movement leads the defeat of the government and Roman Catholic Church oppositions to win legalized abortion and now targets other basic social changes, and how the deepening inequality of US wealth and income cause and reflect the gro...
2021-01-17 23:11:32 +0000 UTC View Post
A patron of Economic Update asks: "Tito ruled Yugoslavia with an iron fist for nearly 40 years after WW2. He implemented 'self-management' Socialism and despite some initial success, by the late 80s the entire economy collapsed and soon after the country descended into a bloody civil war. I lived in Croatia from 2005 to 2011 and was surprised by the nostalgia for Tito ...
2021-01-16 13:00:05 +0000 UTC View Post
A patron of Economic Update asks: "I am fascinated about socialist & marxist movements in rural areas, small towns and among farmers. This seems inconceivable in todays climate. Especially when these are normally people who are historically suspicious of government intervention. I am curious as to what kind of socialism did these rural socialist envision? Was it go...
2021-01-14 13:02:00 +0000 UTC View Post
[S11 E01] New
This program introduces the economic concept of "externalities." Those are the real costs of employers' business decisions that employers do not pay for or take into account: costs "external" to businesses' profit/loss calculations. Examples include costly damage to the environment, to employees' private lives, etc. Those real social costs are exter...
2021-01-10 01:46:54 +0000 UTC View Post
A Patron of Economic Update asks: "In much of your discussion you imply that the recession began before the coronavirus pandemic. You have talked about the US suffering from two crises, the recession, followed by the pandemic. The mainstream view is that the pandemic and the recession are linked and constitute a singl...
2021-01-08 14:10:00 +0000 UTC View PostA Patron of Economic Update asks: "In much of your discussion you imply that the recession began before the coronavirus pandemic. You have talked about the US suffering from two crises, the recession, followed by the pandemic. The mainstream view is that the pandemic and the recession are linked and constitute a singl...
2021-01-08 14:09:00 +0000 UTC View Post
A patron of Economic Update asks: "I have been trying for many years and many times to get someone noteworthy to discuss the subject of boycotting. Why are there not "any" efforts to organize nationwide citizen boycotts of major corporations and other entities of power? It is like the word boycott has been banned from language. Boycotting, if done right, could be the most powerful tool we have ...
2021-01-06 14:00:00 +0000 UTC View PostA patron of Economic Update asks: "I have been trying for many years and many times to get someone noteworthy to discuss the subject of boycotting. Why are there not "any" efforts to organize nationwide citizen boycotts of major corporations and other entities of power? It is like the word boycott has been banned from language. Boycotting, if done right, could be the most powerful tool we have ...
2021-01-06 14:00:00 +0000 UTC View PostDear EU patrons
Prof Wolff and the d@w staff are taking some time off around this holiday season. This means that there will not be a new episode of Economic Update this week.
It is with your support that this show is made possible and kept free to all. For this, we want to continue to express our gratitude even if we don't have new episodes to give you early access to at thi...
2020-12-31 14:00:05 +0000 UTC View Post
This week's show features updates on the continuing lessons from 2020 at the year's end: the economics of US policing and the 'defund' campaign, building a Cold War against China, and lessons from the 2020 election about political monopoly. In the second half, Professor Wolff interviews David Pakman about growing independent progressive media.
David Pakman is host of the David Pakman Sho...
A patron of Economic Update asks: "My dad is very conservative and when I said that capitalism promotes too much inequality he responded 'I don’t care. Inequality doesn’t matter.' I’m wondering if you have a response besides the morality of inequality and a way to convince someone inequality is bad economically." This is Professor Richard Wolff's video response.
A...
A patron of Economic Update asks: "My dad is very conservative and when I said that capitalism promotes too much inequality he responded 'I don’t care. Inequality doesn’t matter.' I’m wondering if you have a response besides the morality of inequality and a way to convince someone inequality is bad economically." This is Professor Richard Wolff's video response.
A...
This week's show features a survey of the major economic events of 2020 that were poorly covered by mainstream media: the twin crises of viral pandemic/capitalist crash; protesting right-wing regimes (France, US, India, Poland); how the US Census Survey reveals the extent of US suffering; how Federal Reserve policies, intended to combat Covid-19 and economic crash, worsened income/wealth inequa...
2020-12-20 10:21:28 +0000 UTC View Post
A Patron of Economic Update asks: "I am interested in learning about worker co-ops and I want to know what are some of the problems that worker co-ops aim to fix and are there any ways that it can be more efficient or profitable than a capitalist owned business?"
AskProfWolff is a 2020-12-16 13:00:03 +0000 UTC
View Post
[S10 E48] Working Class Power
On this week's show, Prof. Wolff discusses Biden's 'new economic team,' big US banks falling short in key stress tests, India's 250-million-strong general strike, and lastly, huge chunk of US relief funds aimed at small and medium businesses grabbed instead by big business. The second half of the show features an interview with Flight Attendants Union Presid...
AskProfWolff is a @Democracy At Work production. We are committed to providing these videos to you free of ads. Please consider supporting us on Patreon.com/economicupdate. Become ...
2020-12-11 21:02:07 +0000 UTC View Post
AskProfWolff is a @Democracy At Work production. We are committed to providing these videos to you free of ads. Please consider supporting us on Patreon.com/economicupdate. Become ...
2020-12-09 21:02:00 +0000 UTC View Post
[S10 E47] New
**Economic Update is a @Democracy At Work production. We make it a point to provide the show free of ads. Please consider supporting our work. Donate one time or become a monthly donor by visiting us at 2020-12-05 17:48:51 +0000 UTC View Post
AskProfWolff is a @Democracy At Work production. We are committed to providing these videos to you free of ads. Please consider supporting us on Patreon.com/economicupdate. Become ...
2020-12-04 21:01:00 +0000 UTC View Post
AskProfWolff is a @Democracy At Work production. We are committed to providing these videos to you free of ads. Please consider supporting us on Patreon.com/economicupdate. Become ...
2020-12-02 21:00:06 +0000 UTC View Post
**Economic Update is a @Democracy At Work production. We make it a point to provide the show free of ads. Please consider supporting our work. Donate one time or become a monthly donor by visiting us at democracyatwork.info/donate or become a patron of Economic Update on Patreon: 2020-11-30 03:17:54 +0000 UTC View Post
[S10 E2] New
Throughout capitalism's history, the big topic in economics was how far government should intervene in the economy. Conservatives wanted minimum intervention while liberals and socialists wanted much more. In fact, government intervention mostly aimed at saving, protecting, supporting capitalism. The genuinely "great debate" could and should have bee...
2020-07-19 13:36:51 +0000 UTC View Post
A patron asks: "In light of the worker coops started by organized labor during the Seattle Strike of 1919, do you think labor unions today should use their union dues to create a worker-controlled economy that competes with global state capitalism rather than give it to the Democratic Party for the sake of influence? If labor unions owned their own grocery stores, apartment buildings, and hospi...
2020-07-17 14:58:59 +0000 UTC View Post
AskProfWolff is a Democracy At Work production. We are committed to providing these videos to you free of ads. Please consider supporting us on Patreon.com/economicupdate. Become a part of the growing Patreon community and gain access to exclusive patron-only content, along with the ability to ask Prof. Wolff question...
2020-07-15 21:01:01 +0000 UTC View Post
[S10 E27] New
On this week's show, Prof. Wolff presents updates on false "trade-off" between illness and economy, going from normal to extraordinary injustice, hypocritical scapegoating of foreigners instead of facing domestic public health and economic failures, and lastly, the tragic neglect of education during the pandemic and economic crash. On the second hal...
2020-07-11 19:16:09 +0000 UTC View Post
A patron asks: "I wonder if there is any good evidence that the stagnation of worker incomes starting in the 1970's was at least one of the causes of large banks looking for ways to make money via credit default swaps and many other very risky means. My perhaps far too simplistic idea is that with the middle class losing their ability to consume as much as they had in the decades before the 197...
2020-07-11 12:03:01 +0000 UTC View Post
To our wonderful patrons: your support also helps keep this content free to the public. Spreading Prof. Wolff's message is more important than ever. Help us make this possible.
A patron asks: "I wonder if there is any good evidence that the stagnation of worker incomes starting in the 1970's was at least one of the causes of large banks looking for ways to make money via credit default sw...
2020-07-10 12:02:00 +0000 UTC View Post
Your support also helps keep this content free to the public. Spreading Prof. Wolff's message is more important than ever. Help us make this possible.
A patron asks: "What is a good way to strengthen the community element when we are moving into different homes and jobs every few years? We know how important community is, but can't seem to stay in one place long enough to build a ne...
2020-07-07 12:00:02 +0000 UTC View Post
[S10 E26] New
On this week's show, Prof. Wolff presents updates on "zombie" companies and their rapid growth in the US, The Federal Reserve "stress tests" expose risks, and weaknesses of major US banks. On the second half of the show, Prof. Wolff is joined by Greek economist, academic, philosopher and politician, Yanis Varoufakis on DiEM25, Europe'...
2020-07-04 22:49:32 +0000 UTC View Post