Economic Update with Richard D. Wolff

This week on Economic Update, Professor Wolff, responding to requests, explores the parallels between what led to the rise of Hitler and fascism in Germany after World War I and what has brought the US to Trump and his current policies. Many key basic parallels are presented alongside some remaining differences that help explain why what Trump is doing is not yet what a fully formed US fascism would entail.   The d@w Team Economic Update with Richard D. Wolff is a DemocracyatWork.info Inc. production. We make it a point to provide the show free of ads and rely on viewer support to continue doing so.  You can support our work by joining our Patreon community:  https://www.patreon.com/democracyatwork Or you can go to our website: https://www.democracyatwork.info/donate     Every donation counts and helps us provide a larger audience with the information they need to better understand the events around the world they can't get anywhere else.  We want to thank our devoted community of supporters who help make this show and others we produce possible each week.1:01  We kindly ask you to also support the work we do by encouraging others to subscribe to our YouTube channel and website: www.democracyatwork.info

Chris Hedges, a Pulitzer Prize-winning journalist and author renowned for his work on Middle Eastern conflicts, delivers a compelling analysis of the current crises in the region. He explains Israel's military actions against Iran and their implications for Gaza and U.S. foreign policy. Hedges critiques the humanitarian situation in Gaza, revealing severe human rights implications. He draws parallels to historical settler colonialism while advocating for a deeper understanding of these complex geopolitical dynamics.

This week’s episode of Economic Update features an analysis by Professor Wolff on:  1. How Trump seeks to address the problem of costly American wars and their impact on sharply rising budget deficits,  2. How the rising U.S. debt has led to the loss of the United States’ "AAA" credit rating,  3. How Trump’s response is to seek to slash government spending and raise money by imposing tariffs on the entire world,  4. How this backfires as other countries retaliate, hurting US exports and causing the dollar to lose its appeal as the world's safest currency,  5. How China's economic rise is more substantial than the U.S. measures aimed at stopping or slowing that rise,  6. How the declining U.S. empire undermines the U.S. capitalist economy by making it increasingly difficult for CEOs and other corporate leaders in the U.S., households, and the government to prevail over and dominate the U.S. economy and society.   The d@w Team Economic Update with Richard D. Wolff is a DemocracyatWork.info Inc. production. We make it a point to provide the show free of ads and rely on viewer support to continue doing so. You can support our work by joining our Patreon community: https://www.patreon.com/democracyatwork Or you can go to our website: https://www.democracyatwork.info/donate   Every donation counts and helps us provide a larger audience with the information they need to better understand the events around the world they can't get anywhere else. We want to thank our devoted community of supporters who help make this show and others we produce possible each week.1:01 We kindly ask you to also support the work we do by encouraging others to subscribe to our YouTube channel and website: www.democracyatwork.info

In an engaging discussion, Professor Emerita Arlie Hochschild, a renowned sociologist known for her work on the political right, delves into the unwavering support for Trump. She reveals how economic and social challenges, especially in places like eastern Kentucky, have forged a deep connection to his message. Hochschild emphasizes the importance of understanding this political base, highlighting their struggles and resilience amidst systemic issues. The conversation also touches on the impact of advertising and the moral dilemmas surrounding healthcare funding, unveiling complex societal dynamics.

On this week’s episode of Economic Update, Professor Wolff delivers updates on U.S. vs Chinese wheelbarrows, the Cold War error against China, the lasting effects of terminated U.S. federal workers, how tariffs alone won't bring manufacturing back to the U.S., further declines in U.S. coal mining, McDonald's hamburgers in the U.S., and the rapid economic decline in Europe.   The d@w Team Economic Update with Richard D. Wolff is a DemocracyatWork.info Inc. production. We make it a point to provide the show free of ads and rely on viewer support to continue doing so. You can support our work by joining our Patreon community: https://www.patreon.com/democracyatwork Or you can go to our website: https://www.democracyatwork.info/donate   Every donation counts and helps us provide a larger audience with the information they need to better understand the events around the world they can't get anywhere else. We want to thank our devoted community of supporters who help make this show and others we produce possible each week.1:01 We kindly ask you to also support the work we do by encouraging others to subscribe to our YouTube channel and website: www.democracyatwork.info

Celebrate Karl Marx's 200th birthday by diving into his critiques of capitalism. Discover his analysis of labor and surplus, revealing persistent inequalities and modern 'wage slavery.' Explore the contradictions of capitalism where exploitation leads to economic instability and reduced buying power. Unpack Marx's vision of democracy in the workplace, advocating for equality and worker cooperatives. Reflect on his legacy and question the permanence of capitalism, urging progressive change through community engagement.