The Terminal Crises of Global Capitalism
Economic Update with Richard D. Wolff
00:00
The Automobile Industry Is Making a Commitment to Become a Smaller Industry
The automobile industry has made a commitment to become a smaller industry, more profitable but smaller. They have no intention of selling the kinds of new cars that they used to. In the last year, we recorded the highest average price of an automobile in the U.S., $48,000. The rich at the top who can and will be paying a lot of more money for a new car.
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