The Socialist Program with Brian Becker The Next Great Depression, with Prof. Wolff
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Sep 24, 2025 
Professor Richard Wolff, an economist and co-founder of Democracy at Work, joins Brian Becker to analyze the potential for a new economic crash reminiscent of 1929. They discuss capitalism's chronic boom-and-bust cycles and compare current stock market behaviors to past crashes. Wolff highlights the disconnect between soaring stock indexes and stagnant incomes, warning that extreme wealth concentration poses risks to consumer spending. He explains how minor market shocks can trigger significant downturns and the implications of government bailouts on future economic stability.
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Capitalism's Built-In Instability
- Capitalism is inherently unstable and prone to regular crashes every 4–7 years on average.
- These business cycles are a historical feature, not a temporary anomaly.
Booms Often Precede Crashes
- Major crashes often follow periods of rapid boom and speculative exuberance in asset prices.
- Stock market froth can detach from the real economy and signal heightened crash risk.
Stock Gains Are Not Mainstream Wealth
- Stock indices have more than doubled since 2020 while wages and prices did not, showing a disconnection from everyday economic reality.
- The stock market functions largely as a playground for the richest 10% and often reflects speculative trading, not production.
