Economy

Argentina's Economic Crisis Deepens as Macri Applies IMF Measures

Argentina’s Economic Crisis Deepens as Macri Applies IMF Measures

August 23, 2019

President Macri is trying to blame his predecessor and likely successor in office, Cristina Fernandez and Alberto Fernandez for Argentina’s steep economic crisis. However, the IMF plan he is applying lays out very clearly where the real blame lies, says CEPR’s Mark Weisbrot

Economic Update: Working Class History and the 2020 Election

Economic Update: Working Class History and the 2020 Election

Partner Content Provided By: Economic Update with Richard Wolff
August 20, 2019

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…

Germany Shows Signs of Recession - Is the Global Economy Next?

Germany Shows Signs of Recession – Is the Global Economy Next?

August 15, 2019

Heiner Flassbeck argues that the China-US trade war is not having as much of an impact on the global economy as many assume. China’s currency is not undervalued, despite its recent devaluation. Rather, the undervalued Euro gives Germany a real competitive advantage in world trade. It’s actually Europe’s economic weakness that is dragging down Germany,…

Immigrants Welcome to the US as Long as They Are White and Wealthy

Immigrants Welcome to the US as Long as They Are White and Wealthy

August 14, 2019

The Trump’s administration’s Kenneth Cuccinelli rewrites Emma Lazarus’s words on the Statue of Liberty, telling the poor and oppressed they’re no longer welcome. This comes right after Trump proposes to limit legal migration to the US. We speak to Michael Paarlberg of IPS

Economic Update: Reparations and Forgiving Student Debt

Economic Update: Reparations and Forgiving Student Debt

Partner Content Provided By: Economic Update with Richard Wolff
August 14, 2019

This week: Updates on the economics of 2 million home health aides; extreme Uber inequalities; Alaskan universities’ 41% budget cuts; Michigan governor says his critics are “uncivil” during Flint Water Crisis; a British district’s labor party proposes a worker co-op sector to the UK Parliament using resources from “Economic Update;” Prof. Wolff discusses the economics…

Economic Update: Win-Win For Women's Soccer

Economic Update: Win-Win For Women’s Soccer

Partner Content Provided By: Economic Update with Richard Wolff
August 7, 2019

This week: Updates on Trump as a distraction vehicle; more of French President Macron’s corruption; how the global coffee price collapse is driving immigrants to the U.S.;  the right’s opposition to free tuition and student loans; why Trump and the GOP do nothing to stop the jobs exodus from the U.S.; Prof. Wolff interviews Dr.…

Trump's China Trade War Increases Risk of Recession

Trump’s China Trade War Increases Risk of Recession

August 6, 2019

Trump accuses China of currency manipulation because their currency devalued in the wake of his tariffs. However, as Bill Black explains, this accusation has no basis in fact. Instead, Trump’s trade war only increases the likelihood of a recession

Trump's New Tariffs on China Help Pay for his Corporate Tax Cut

Trump’s New Tariffs on China Help Pay for his Corporate Tax Cut

August 2, 2019

Trump’s claim that China is paying for the tariffs is completely false and basically serves to redirect income from his poor supporters to his wealthy supporters. Not only that, the policy will have the consequence of further isolating the United States, says Michael Hudson

Economic Update: A Socialist Politician Wins

Economic Update: A Socialist Politician Wins

Partner Content Provided By: Economic Update with Richard Wolff
July 31, 2019

This week: Updates on the deprivation of non-white students; how fast food is made worse for profit; Wayfair workers’ demand for power; more scapegoating of immigrants; how companies promises of gains going to workers from the 2017 Trump tax cut proved to be another falsehood; Prof. Wolff interviews Lee Carter, an elected socialist from the…

Economic Update: Socialism & Worker Co-Ops

Economic Update: Socialism & Worker Co-Ops

Partner Content Provided By: Economic Update with Richard Wolff
July 23, 2019

20th century socialism is now behind us. Socialists continued to evaluate both its achievements and failures via extensive self-criticism. A changed socialism has emerged, focused on a transition of workplaces from top-down hierarchical capitalist structures into democratic worker cooperatives. The powerful appeal of worker co-ops as grounding a new 21st century socialism is presented.