Henry Giroux. All rights reserved. Professor Richard Wolff joined Thom Hartmann to explain the differences and how the money roundabout work. They needed such populist movements to do something—or at least to support politicians—to reverse the downward economic and social spiral so many felt trapped in and by. Yet it spoke to millions of working-class people who feel betrayed by the Democrats and attracted by the usual Republican references to religion, region, and race. By focusing on the economic dimensions of everyday life - wages, jobs, taxes, debts, and profits … Debate against Paul Krugman on Democracy Now! Richard Wolff October 23, 2020 Your voice matters, SHARE THIS Capitalism Hits Home: The Invisible Labor On Which Capitalism Depends. The post-1970 trauma of the working class was worsened, as traumas often are, by being minimally recognized and even less discussed in the media, among politicians, or in the academy. First, neoliberalism endorsed capitalist globalization and the export of jobs—especially the better-paying, more-unionized jobs—after the 1970s. Can Progressives Save Biden From Disastrous Economic Policies? https://www.truthdig.com/articles/prof-wolff-the-next-economic-crisis-is-coming Reproduction of material from any Salon pages without written permission is strictly prohibited. On this week's show, Prof. Wolff discusses the immense social waste of today's US unemployment  the Trump ban on investments in Chinese companies, new global...READ MORE. Richard I. Wolff 80 of Franklin, IN passed away Wednesday November 11, 2020. The centrists wanted and depended on capitalists' donations; that dependence only increased as the party's working-class support ebbed. By Richard D. Wolff December 14, 2020 11:00AM (UTC) Joe BIden, Ilhan Omar and Alexandria Ocasio-Cortez (Photo illustration by Salon/Getty Images)- … They led the Democratic Party into increasing dependence on donations from the capitalist class. Income and wealth were redistributed sharply upward. Paperback $24.00 $ 24. Of the 22 million US workers lost their jobs due to the COVID-19 pandemic, 12 million mostly white-collar workers have regained employment and even benefited from record home prices and low interest rates. Chris Hedges and Richard Wolff were interviewed by Zain Raza on acTVism Munich, in Germany. First Presbyterian Church of Berkeley, 2407 Dana Way, Berkeley Get Tickets Richard Wolff joins Boom Bust to discuss the EU and ASEAN elevating their relations to a "strategic partnership". Richard Wolffe is a columnist for the Guardian US. Richard Wolff joins the Zero Hour with RJ Eskow to discuss. Richard Wolff speaks with Julianna Forlano on Act.tv about the economics and vulgarity of corporate welfare. Three crashes of U.S. capitalism in the 21st century (2000, 2008, and 2020), each far worse than its predecessor, brought home to the U.S. working class how far its social situation had deteriorated. More members of households (especially adult women) undertook more hours of paid labor outside the home to compensate for stagnant real hourly wages. Richard Wolff is also a co-founder and active contributor of his non-profit: Democracy at Work, Professor of Economics, Author, Radio Host, Speaker. The key question then revolves around progressives inside and outside the Democratic Party. Prof Wolff joins The Socialist Program's weekly segment "Capitalism in Crisis." Deepening loneliness, divorce, opioid and other addictions, and suicides were among the social costs. SALON ® is registered in the U.S. Patent and Trademark Office as a trademark of Salon.com, LLC. He had worked in glass manufacturing in Indianapolis, IN and the Dollar General Store in Franklin, IN. Copyright © 2019 Salon.com, LLC. However, the class silence of the major parties created the need and the opportunity for a revival of what they had repressed. Richard Wolff joins Rick Sanchez to discuss China’s meteoric advances in information technology. Joe Biden went further than previous Democrats (including Barack Obama) in focusing his campaign and his new administration on those portions of the working class Democrats prioritized. This week's show is dedicated to a discussion of the signs of US capitalism's decline. Watching The Hawks: The Covid Holiday Season, Economic Update: U.S. Labor Battles Covid 19 & Politics, Streets Blog: Wall Street Thinks the Bike Boom is Over, News with Rick Sanchez: China Outpacing the US, By Any Means Necessary: Dr. Richard Wolff Explains Why Capitalism Was Real Winner of #Elections2020. U.S. capitalism likewise failed to prepare for or contain the social damage from the latest in its regularly recurring cyclical crashes. 00. Richard Wolff … Households also compensated by borrowing more heavily than any working class anywhere had ever done. Their prime targets included evangelical Christian and other religious fundamentalists portrayed as victims of secularists, the South's and other regions' sense of unfair treatment by Washington and coastal elites, and white supremacists portrayed as threatened by rising Black and Brown populations including immigrants. These and other systemic failures are eroding mass support for those parties just as the mounting sufferings of the working class seek political expression and solutions. Richard Wolff joins Watching the Hawks to discuss the impact of Covid-19 on the holiday season and the future of student loan debt. Private and public sectors were unprepared for and could not contain a deadly virus handled far more successfully in many other countries. Many workers felt betrayed. Toward the end of the 20th century, capital added massive student lending that now exceeds total U.S. credit card debt. Wolff has also taught economics at Yale University, City University of New York, University of Utah, University of Paris I (Sorbonne), and The Brecht Forum in New York City. Obituary for Richard C. Wolff. Is China Eclipsing the USA as the World's Superpower? Professor Richard Wolff weighs in on the passing of an important defense policy bill by the US House of Representatives and is set for a showdown with President Trump, who has vowed to veto the legislation. Brian and Prof. Wolff talk about the history of how the labor and socialist movements have organized to press demands and win concrete gains no matter who is in office. New Haven and London: Yale University Press. And now, in 2020, the trigger was a viral pandemic, and we have a far deeper crash than in 2008. But the point is, there are plenty of models out there of countries … Richard C. Wolff, born 21 January 1924, Caldwell, New Jersey, first son of Rudy & Mae Wolff. Wolff’s new book, The Sickness is the System – When Capitalism Fails to Save Us from Pandemics or Itself, is available on September 15. Workers thus encountered the end of the century of rising real wages individually as a mysterious evaporation of the American Dream or loss of an earlier American Greatness. This material may not be published, broadcast, rewritten or redistributed. Both major parties, following the dictates of the Cold War, together eviscerated the class-based politics stressed from the 1930s to 1945. The Treasury provides tax money. Workers turned away first from activity in and for the Democratic Party; eventually many stopped voting for its candidates. They focused instead on carving up the same working class into different, competing portions. Plus, we discuss Janet Yellen, Biden's choice for Treasury Secretary, and what workers can expect from a Biden administration. Richard Wolff joins the Rick Ungar show to discuss some of the metrics he used to ascertain the state of our economy, including how the economy protects public health. Richard D. Wolff. In Question: US House passes defense bill with a veto-proof margin, Economic Update: Social Movement Gains in LA, Fault Lines: Worker Co-ops Safer for Workers. These include outsourcing, "free trade" agreements and union-busting. Donald Trump opportunistically tapped enough of the U.S. working class's bitterness to swing the votes needed to win the presidency in 2016. All of this ‘money’ is going to big business and the stock market. This article was produced by Economy for All, a project of the Independent Media Institute. Richard Wolff, professor of economics at the University of Massachusetts, said the U.S. economy is "a disaster" during an interview Wednesday on Hill.TV's "Rising." The Socialist Program: When and Why Revolutions Happen: Act TV: The Economics And Vulgarity Of Corporate Welfare, Boom Bust: ASEAN, EU Enter ‘Strategic Partnership', The Socialist Program: How the Capitalists Drive U.S. Government Policy, News with Rick Sanchez: Dow Breaks Record while 10 Million Jobless, Economic Update: What Capitalism's Decline Means, Thom Hartmann: Money Created Out of Thin Air, The Rick Ungar Show: Measuring how the Economy Protects Public Health. RICHARD WOLFF: Well, for me, it is always an astonishment to observe this inequality getting worse and worse. Paperback $23.55 $ 23. Capital flows to where the profits are greatest (where wages are far lower and regulations far fewer than in the United States, for example). They were ready to participate in social movements to express their accumulated anger, bitterness, and rage. The address on file for this person is 3436 Magazine St, New Orleans, LA 70115 in Orleans County. Renowned economist Prof. Richard Wolff explains how the crisis facing these jobless millions will have devastating circumstances for us all. Do enough of them have the needed clarity of understanding, courage to act, and wisdom to see their deficit in terms of strong organization? No wonder the U.S. stock market boomed in the 1980s and 1990s. Sam hosts economist Richard Wolff to discuss his new book The Sickness is the System: When Capitalism Fails to Save Us from Pandemics or Itself. RICHARD WOLFF: Well, I agree with Paul, which surprises probably both of us. FREE Shipping on orders over $25 shipped by Amazon. Many (not all) of today's progressives—inside and outside the Democratic Party—want to reconstruct U.S. politics as once again a class politics. The neoliberal turn in U.S. capitalism under Ronald Reagan had two key impacts on the U.S. working class. They also reacted individually. Economic Update is a weekly nationally syndicated radio program produced by Democracy at Work and hosted by Richard D. Wolff. Professor Richard Wolff discusses the state of the economy and the potential impact the 2020 election could have The Fed has created more money out of thin air. So when it comes to the various transportation interests out there, they will, of course, do whatever they have to do to tilt the playing field in their favor — and they do will everything within reach to tilt the playing field against their competitors.” Richard Wolff on Streets Blog. Richard Wolff is listed as a Member/Manager with Wolff Mediation, LLC in Louisiana. That’s a non-profit & independent online media portal in both German and English languages. Will they effectively resist both major parties' efforts to silence and destroy them? Capital thereby supplemented its profits from production (boosted by stagnant wages) by adding interest on consumer and student debts (undertaken because of stagnant wages). By Richard D. Wolff, Professor of Economics Emeritus, University of Massachusetts, Amherst, and Visiting Professor in the Graduate Program in International Affairs of the New School University, NYC. (Photo illustration by Salon/Getty Images), ------------------------------------------. After a century of real wages rising every decade, that stagnation changed the lives of the U.S. working class in traumatic ways. Richard C. Wolff, 56, of Johnstown, NY; passed away October 22, 2020. The centrist leaders of the Democratic Party were those closest to the party's capitalist donors (and vice versa). December 11, 2020 Friday - Sunday. A young Nebraskan said he has to ditch the GOP. Centrist control of the party blocked it from offering a powerful voice to mobilize working-class opposition to neoliberal job exports, deregulations, attacks on unions, etc. Capital obliged: mortgage and auto debts spread more widely and deeply throughout the U.S. population. Banks aren't ready for another crisis - Richard Wolff Dec 15 2020 "This paper looked at whether or not the biggest banks in America were adequately covered with … In short, the neoliberal turn was and remains a major cause of the U.S. working class's decline and its resulting bitterness and anger. Sam and Professor Wolff begin their conversation assessing American capitalism’s failure to prepare for the Covid pandemic and why the private profit system doesn’t work to mitigate against a pandemic. Open source and fee for non-derivative use with link to www.thecommonercall.org ) Status Coup's Jordan Chariton speaks with economist and professor Richard Wolff about the ongoing economic crisis. Memorial service will be conducted on Thursday November 19, 2020 at … Capitalists fund politicians like Reagan to turn policies toward neoliberalism. Both major parties are now stuck with their commitments to a system that has failed spectacularly. Richard Wolff looks at what is going wrong with society and the next crisis. • Wolff, Richard D. (1974). Dr Richard Wolff joins Thom Hartmann to discuss the stimulus package. Dick was the number 1 male graduate of the Class … In these ways, each party's strategy provoked more extreme versions of the other party's strategy. Richard Wolff joins the Mohammed Hijab Podcast to discuss the differences and and compare capitalist, Marxist, and Islamic economics and finance. These new failures compounded earlier, ongoing failures to overcome global warming and the crisis of U.S. race relations. The RCEP deal is putting pressure on Europe and the incoming Biden administration to act and is heralded as a blow to US geopolitical power. 1 reaction [S10 E43] New On this week's show, Prof. Wolff explores what major social changes will flow from today's combination of major economic crash and the viral pandemic (capitalism's worst nightmare). by Richard D. Wolff | Aug 26, 2020. By Richard D. Wolff, Professor of Economics Emeritus, University of Massachusetts, ... second only to the crash of the 1930s. The program explores complex economic issues and empowers listeners with information to analyze their own financial situation as well as the economy at large. A blend of history, analysis and opinion, Understanding Socialism is an honest and approachable text … Continued Progressives such as Bernie Sanders, Alexandria Ocasio-Cortez, and a growing number of others across U.S. politics are riding the wave of protest against all that was lost when centrists took over the Democratic Party. The Economics of Colonialism. But what about the 10 million who are expected to continue to languish in unemployment? Households stressed, families dissolved, and individuals exhausted by ever more hours of labor added severe anxieties to their burdens as rising debts exceeded capacities to service them. Richard D. Wolff is professor of economics emeritus at the University of Massachusetts, Amherst, and a visiting professor in the Graduate Program in International Affairs of the New School University, in New York. Can those who do seize the opportunity to ride a return of class politics into U.S. society? In protest, often unspoken, some began to cross over to vote Republican. Obama's regime had likewise solved nothing in the United States' basic economic problems while worsening income and wealth inequalities and barely overcoming the 2008 capitalist crash in ways that set up the next one. Second, by accelerating the deregulation of industries and markets, neoliberalism facilitated automation and weakened or removed various labor protections. ISBN 0-300-01639-5. In so doing, he prepares the way for the next Trump. Understanding Marxism. That takeover presumed the undoing of the New Deal, the repression of the strong communist and socialist parties built in the 1930s and early 1940s, and the neoliberal turn that came to dominate public policy. 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, interviews Flight Attendants Union President Sara Nelson, and more......READ MORE. Trump's right-wing Republicanism solved none of the United States' basic economic problems; it did worsen income and wealth inequalities. Biden gives every sign—in conditions of even worse economic and political decline—of repeating these oscillating failures. Professor, Economist, Dr. Richard Wolff visits with us to discuss Capitalism and COVID-19. 55 $25.00 $25.00. Associated Press articles: Copyright © 2016 The Associated Press. Richard Wolff joins Boom Bust to discuss soaring Chinese exports and the future of a trans-Pacific relations under a Biden presidency. At New School University neoliberalism endorsed capitalist globalization and the crisis facing these jobless millions will devastating... The increasingly harsh and rageful tones of major Party discourse and behavior generally,! Choice for Treasury Secretary, and Islamic economics and finance ; it did worsen income wealth! The signs of US capitalism from its birth, through... READ more 's progressives—inside outside... 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