Is There a Disconnect Between Elites and Everyday Economic Reality?

Richard Wolff highlights divergent narratives about the economy, rising pessimism among consumers, and four decades of stagnant real wages.

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Episode notes

Air Date 5/27/2022

Today we take a look at the disruptions to society that can unfold in times of economic distress such as high inflation, price gouging, wage stagnation and income inequality as well as some policy ideas for turning things around.

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SHOW NOTES

Ch. 1: Will America's Capitalists Pull Us Into War & Fascism? Featuring Richard Wolff - Thom Hartmann Program - Air Date 5-18-22

"Germany's capitalists drove it into WW1" Warns Richard Wolff. Could America's capitalist lead us into fascism? "Learn from history"

Ch. 2: You Are Being Lied to About Inflation - Robert Reich - Air Date 2-28-22

The underlying problem is not inflation. It’s corporate power. The entire American economy is concentrated into the hands of a few greedy, corporate giants with the power to raise prices.

Ch. 3: Prices Soar as Corporate Profiteers & Speculators Drive Inflation; It Hurts the Developing World - Democracy Now! - Air Date 4-13-22

Jayati Ghosh, who says prices of essentials are soaring much higher than can be explained by oil prices and supply shortages alone, because of what she calls "feverish speculation" in financial markets and corporate profiteering.

Ch. 4: Prof. Richard Wolff Do Workers Have It Too Good Nowadays - The Zero Hour w RJ Eskow - Air Date 5-14-22

Professor Wolff joins to discuss the situation for workers in the US today.

Ch. 5: Omar Ocampo of Inequality.org on corporate billionaire greed Part 1 - The BradCast - Air Date 5-11-22

OMAR OCAMPO of the Institute for Policy Studies Program on Inequality and the Common Good explains how it happened, and what actions can and must be taken to reverse this obscene trend.

Ch. 6: David Dayen on the Baby Formula Shortage & Monopolies in the Age of Corporate Power - Democracy Now! - Air Date 5-17-22

An overhaul to the system where the government subsidizes only a few formula brands can help combat the monopolization that has caused this crisis, says David Dayen, executive editor of The American Prospect.

Ch. 7: Omar Ocampo of Inequality.org on corporate billionaire greed Part 2 - The BradCast - Air Date 5-11-22

Ch. 8: How Biden’s budget proposal takes on corporate power (with Niko Lusiani) - Pitchfork Economics with Nick Hanauer - Air Date 5-10-22

The Biden Administration’s 2023 budget proposal includes a Billionaire Minimum Income Tax and a rewrite of stock buyback practices. Will these changes actually take effect? Niko Lusiani is the Director of Corporate Power at the Roosevelt Institute.

MEMBERS-ONLY BONUS CLIP(S)

Ch. 9: Elon Musk’s Billionaire Games - The Daily Show with Trevor Noah - Air Date 5-7-22

Trevor’s no finance expert, but the details of Elon Musk’s Twitter buy seem a little weird.

Ch. 10: Prof. Richard Wolff Do Workers Have It Too Good Nowadays Part 2 - The Zero Hour w RJ Eskow - Air Date 5-14-22

FINAL COMMENTS

Ch. 12: Final comments on the culture of distrust of the poor

MUSIC (Blue Dot Sessions)

Produced by Jay! Tomlinson

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