Economy

Union Organizer Takes On Neoliberal Fearmongering and Wins

October 28, 2019

Efforts to fight low wages and win health insurance for employees of a tax break-subsidized luxury hotel show how the mainstream media cultivates a false narrative that living wages are unaffordable.

Economic Update: The Capitalist Corporation

October 22, 2019

This week on Economic Update, Professor Wolff examines the structure and functioning of the large capitalist corporations dominating modern economies. He discusses their basic economics and influence on politics and criticizes rationales for corporate profits such as “risks” and “entrepreneurship,” and he also explores the parallels between corporate structures and monarchies.

Laura Flanders Show: How to Make a Democratic Economy

October 21, 2019

The U.S. economy, weak or strong, is the question at the heart of the election. But it doesn’t get to the reality which is that, whatever else it may be, the U.S. economy is not democratic or good for the planet. But it could be. Marjorie Kelly and Ted Howard of the Democracy Collaborative say…

How Land Value Tax Could Narrow the Racial Wealth and Opportunity Gap

October 21, 2019

“Protecting property values” was a canard used to justify racist housing policy in 1910, and continues to be an excuse used today. But what if property wasn’t privately owned? Jacqueline Luqman talks to Rich Nymoen about why a land value tax could reduce inequality and address segregation in housing.

Nobel Winners in Economics Fail to Examine Structural Causes of Poverty

October 18, 2019

While it’s good the Nobel Memorial Prize in Economics went to researchers who study poverty, their research falls far short of describing its structural causes, says development economist David Ruccio.

Economic Update: Worker Co-Ops, Socialism’s Future

October 16, 2019

In the first half of Economic Update this week, Professor Wolff discusses how and why socialism changed from what it meant in the 19th and 20th centuries. During the second half of this week’s episode, Prof. Wolff leads us on an exploration of why 21st century socialism aims to democratize capitalist workplaces, replacing their top-down…

IRS Audits Poor People Far More Often Than the Wealthy

October 11, 2019

Republicans gutted the IRS with New Democrat support. It ensured that the wealthy can cheat our nation with impunity, says Bill Black.

Economic Update: A Growing U.S. Left

October 10, 2019

This week: Updates on California events (LA Times labor union, 80,000 Kaiser workers to strike, new state public banking law); gross inefficiency of private car industry; wide global use of wealth taxes vs “conservative” claims; anti-left politics in US labor history; Prof. Wolff interviews Michael Brooks, the host of “The Michael Brooks Show” about his…

How Useful Is Modern Money Theory for Developing Countries?

October 9, 2019

MMT is gaining traction among progressives as an option for paying for massive government spending projects such as the Green New Deal. Even if it is useful for countries such as the U.S., can it be applied in developing countries? PERI’s Matías Vernengo says only to a limited extent.

California Legalizes Public Banking

October 8, 2019

Governor Gavin Newsom signed a bill that lets municipalities sponsor public banks, and Los Angeles’ City Council is creating a proposal for one. David Jette of Public Bank LA says this will help cities and counties invest in affordable housing and renewable energy.