This week on Economic Update, Professor Wolff explores the historic parallels of the U.S. working class and politics in the U.S. He begins by exploring how and why the Great Depression of the 30’s married the U.S. working class to FDR’s Democratic Party and then explains how that led to both the Democratic and Republican parties becoming pro-capitalist – which has led to both parties presiding over the exponential growth of income and wealth inequalities along with the political power the richest 10% have, and exploit, over the working class in the U.S. today. Professor Wolff goes on to show that because of this, Trump landing in the White House was a result of the working class’ disgust with both parties. Professor Wolff ends with a discussion about the implications of this history for the upcoming 2020 election.
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