Economic Update: Prospects for a Political Turn Left

Рет қаралды 31,313

Ай бұрын

[EU S14 E19] Prospects for a Political Turn Left
This week’s Economic Update Professor Richard Wolff discusses the successful unionization drives that is sweeping across US universities (example: Boston University), We highlight the facts that disprove Biden's "great economy" claims and why inflation is much worse in the United States than in China. Finally we have an exclusive Interview with Jared Yates Sexton, writer and political analyst, on prospects for a left turn in US politics
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Пікірлер: 189

@WellDoneOnTheInternetEverybody Ай бұрын

In my early adult life I was a stereotypical 'doomsday prepper' with little faith in society's trajectory and a fairly conspiratorial view on Government. Now approaching 30 soon, The concept of 'waking up' to the class struggle has given me so much optimism towards human nature.

@nicadi2005 Ай бұрын

"The concept of 'waking up' to the class struggle has given me so much optimism towards human nature." - Easily fixable. Just ponder the question: "Why the LONG sleep?"...

@WellDoneOnTheInternetEverybody Ай бұрын

@@nicadi2005 up bringing, perception, education, systematic reasons, etc. I feel like that's as if asking why become sober from a drug instead of initially being sober.

@josepablolunasanchez1283 28 күн бұрын

I disagree. The origin of the struggles of people are two: 1. Institutions violating the law. 2. Interests allow people to get rich without hard work. Make money without producing anything. Imagine you are rich, very rich. You have 2 options. 1. Invest in creating a factory. Manufacture is difficult and many things can go wrong when producing, distributing or selling. You will be very busy. 2. Put money in the bank and make money with interests. Sit and wait. All that idle time is boring, so you may have dreams of changing society in ways that hurt people because you do things disconnected from the reality of affected people. Spare time among the rich is a societal danger.

@WellDoneOnTheInternetEverybody 28 күн бұрын

@@josepablolunasanchez1283 Whilst I understand your feelings in the conclusion of 2. I would argue that this explanation only highlights the dynamic between power and money, which itself is the foundation of the class struggle. Unregulated wealth perpetuates their power through social violence.

@nicadi2005 24 күн бұрын

@@WellDoneOnTheInternetEverybody "up bringing, perception, education, systematic reasons, etc." - All those things you enumerated are SQUARELY under the control of the individual. *Are you implying this 'sleepwalking' most people seem to exhibit is actually a matter of choice?!*

@nightowl5475 Ай бұрын

As a working class guy who is pro-union, I agree 100% with you Professor Wolff, but I want an honest Union. I was in unions that sold out its workers by not standing with its workers. Unions need to make sure they support the rank and file.

@MrDXRamirez Ай бұрын

without being specific ... unions were infiltrated by the FBI and the Mob, syndicalists, thugs and assassins...you’d have to go back to 1965 for the start of the death of unions...the biggest and the last bastion of collective bargaining left in the US economy is UPS, a union in negotiations with private equity investors and Wall Street who want wages reduced, cuts in pensions, and payroll cuts,---compensating for the loss of employees, they want technology in the workplace that speeds up the work and increases the output of the workers. UPS makes up 13% of US GDP, that’s a lot. It stands to add more from fewer workers. There aren’t any Mobs, and Moles infiltrating the unions today and there are no socialists and anarchists in their ranks, what there is, is a class struggle between labor and capital.

@badomaji Ай бұрын

The policies that brought us here were made by those running for office who were either dependent on 'donations' from those who have too much, or were in the ranks of those having too much. We are being 'ruled' by those who worship the golden calf.

@user-vs7wj4kd8n Ай бұрын

美国的工会就象一个黑工头，不是在帮助工人，是在欺负工人的同时，借工人的名义敲诈工厂所有者，

@josepablolunasanchez1283 28 күн бұрын

Unions are a business model. They charge a fee and every 3 months they find an excuse to organize a protest, using a small amount for banners, and labor to make banners and attendance of protest is free. A very profitable business model.

@MrDXRamirez 28 күн бұрын

@@josepablolunasanchez1283 More profitable than the Union model for business is the capitalist model for business. Profits, profits and more profits. Expansion, domination, control, of all the little workers and little countries where the little workers come from, work, work, work, than die. BIG PROFITS.

@Rebekah347 Ай бұрын

Dr Wolff should not be surprised by the resurgence of the Left in the US. His eloquent, thoughtful, and expert analysis has fueled that rise by providing exactly the education and the voice that this country so desperately needed.

@switzjon8405 Ай бұрын

It may also be its destruction

@josepablolunasanchez1283 28 күн бұрын

Amazingly Chinese communism is a libertarian paradise. Low taxes, deregulated job market, low government spending. US on the contrary has huge government spending, making it very interventionist.

@xgxfhzxfuhfjgfhgf 20 күн бұрын

@@switzjon8405how

@harbhajandosanjh9856 Ай бұрын

Thank you Professor Wolf. Forming a union is hard it’s an uphill battle. On the other hand keeping the traitors out of the movement is battle which is the hardest to fight. Don’t forget the power of the democratic presidents and the prime ministers. The memories of Reagan, Thatcher and Mulroney are fresh in the minds of the workers. All three demolished the union structure with stroke of the pen. Organized labour should be strong enough to tell these people where to go. And then they (The capitalists) has a sweet poison (an olive branch) to win back the labour movement with little raises so that the movements don’t become Violent (Revolution) Don’t take the olive branch. Be united and Fight them back.

@TacticalMayo Ай бұрын

He is the traitor.

@ronstephen-wy4ib Ай бұрын

😂🤣😂🤣😂 there nothing funnier than seeing someone displaying willful ignorance and thinking others don't see through it. 😂🤣😂🤣😂

@Support_Ad_Blocker Ай бұрын

@@TacticalMayo troll

@jgalt308 Ай бұрын

Organized labor...struggling toward eventual unemployment. It's a good thing that Wolff never bores you with the "details". Has the Professor ever made a comment regarding the "just in time" supply chains? Was it positive or negative?

@Support_Ad_Blocker Ай бұрын

@@jgalt308 Yes, we should all work for pennies and kiss the sphincters of our oppressors. You've got Ann Rand down to an art.

@AdmiralBison Ай бұрын

Very encouraging THEY/WE the working class are getting back their/our power BUT the need for an Economic system WE/THEY control and owned by public society is still paramount.

@josepablolunasanchez1283 28 күн бұрын

Just make institutions to enforce existing laws. Today institutions are violating law. Examples? First amendment in social media since forever with censorship. Trump had 8th amendment violated.

@dinnerwithfranklin2451 Ай бұрын

Trying to explain that increasing prices are the result of conscious decisions by the owners. Seems simple to me but there are many who perform amazing mental feats to avoid admitting this simple calculation.

@jgalt308 Ай бұрын

Was Standard Oil a monopoly? Did they raise prices because they could? Given your claim, the answer should be obvious if it was true. So your answer is?

@geraldmantel4955 Ай бұрын

Inflation, a matter of collusion ...

@Googlag Ай бұрын

Are you calling everything a conspiracy? For you, the system that generates inflation is not a scientific understanding of its operation? Are there just bad guys sitting there? Do you just need to replace bad guys with good ones? You do not have a sufficient understanding of capitalism and its stage of imperialism. Since the decomposition of primitive communism. Capitalism evolved to imperialism. With the fall of the socialist bloc of the USSR. In a short time, imperialism began to globalize and give birth to its mimicking forms. In Russia, for example, a full-fledged capitalist society was not built. Artificially created financial sharks - Oligarchs. Over the 30 years of plunder of the Soviet heritage, little has been created other than gas transportation structures for the sale of raw materials from hydrocarbons and metallurgy. Therefore, today there is a Scandinavian model of capitalism, an Asian model of capitalism. All this is a mimicry of capitalism, with minor similarities to socialism.

@geraldmantel4955 Ай бұрын

@@Googlag In this case, it's a conspiracy, maybe compounded by the fact that the Fed keeps flooding the world with Amerikans dollars.

@nicadi2005 Ай бұрын

Market control, same...

@switzjon8405 Ай бұрын

It is a matter of endless spending on a trillion-dollar debt and printing endless money and the Fed manipulation. Aka Government

@JimVanderveen Ай бұрын

Wow, BUGU is united! 98% in favor?!? Outstanding!

@saundraraynor2858 Ай бұрын

BUGWU

@y.l.6541 Ай бұрын

I am Canadian. Love your wisdom. I learn a lot❤❤. Thanks

@BestFitSquareChannel Ай бұрын

Thank you Professor Wolff.

@anitahsiao4505 28 күн бұрын

5/19/2024 I went to Zhangjiajie with my children in 2016, and I was amazed at China's progress. Curiosity led me to study the Belt and Road Initiative, China's annual review and planning assessment meeting, and some of China's five-year plans. Then I said to the children that China will be the leading force for a better future for the world. Today, I am very happy to hear a person with a high social status but no Chinese cultural background say what I see and believe. I hope more and more people can see what you see, and give up their arrogance and prejudice, and work together to build a peaceful and harmonious global village❗️🙏

@macavelli8905 Ай бұрын

Excellent presentation

@davidluckens3479 Ай бұрын

As one who lives in the Bible Belt,I appreciate Mr Sexton's discussing his roots in the Evangelical Movement.I know several fellow Kentuckians who have similar stories.As Dr Wolff often says,"life is about contradictions."

@dr.zoidberg8666 Ай бұрын

A turn left in what timeframe? Within the next few years? Extremely unlikely. Within the next few decades? Maybe. In my opinion, continued slow imperial decline & episodic dysfunction is the most likely path (just comparing to the path that other empires took), but there's always room for surprises.

@josepablolunasanchez1283 28 күн бұрын

USA is already far left. A huge portion of US economy relies on government spending. Without it a huge recession would happen

@stevenmedge3479 Ай бұрын

Thanks as always

@JMoroccoMisterBoy Ай бұрын

Dr. Wolff et al.: Tks., much appreciative.

@politika8087 Ай бұрын

About pay for academic workers, when I was in the 6th grade, I was part of a summer-long enrichment program at a public university. This was around 1987-88. I remember seeing several Porches, Ferraris, Mercedes Benz, and even a Lamborghini parked all over campus. As kids, we never got tired of seeing them, and we gleefully wished we could own one someday. But when I became enrolled there as a student in 1994, these cars were almost completely absent from the campus landscape. Years later following budget cuts and other austerity measures, I put two-and-two together, and now understand why there were no more fancy cars around anymore.

@markkessnich4101 Ай бұрын

thank you

@andrzejfrancikiewicz9964 Ай бұрын

WE NEED 3 PARTY 🎉❤PS. NATIONAL PARTY

@harbhajandosanjh9856 Ай бұрын

You will never get the third one. Even your constitution is framed for the rich and the powerful. You have money you can beat any crime you have committed. There are loopholes in your constitution for the wealthy and the powerful. Look at Trump. A known rascal will become the next president 🤣🤣🤣🤣🤣🤣🤣🤣 because the voters will have no choice. USA can’t find anyone better than these two. They are both corrupt. Even if someone else comes in he or she will not be better than them either. Look China one man has brought the country from the rags to the most powerful country in the world. You know why because that Man is honest, he is dedicated, he loves his people and his country, he is father of the nation. Above all he is A LEADER not a politician with a rotten back ground of a lawyer, corrupt, criminal and person without any integrity and conscience. Russia and China have leaders we have politicians. 👏👏👏👏👏👏😍

@AdmiralBison Ай бұрын

I agree we need a party that represents the working class and society.... So why not take over both the Democratic and Republican parties? We don't want to be in the same situation in 1780's France were there was only one small party representing the workers was outnumbered by all the parties owned by the aristocrats and nobles.

@MathUDX 29 күн бұрын

@@AdmiralBison Why not... attempt the same dumb tactic that's been attempted every 8-12 years for the last century? Gee I wonder if we should try that again.

@user-sz1rk1jj8j Ай бұрын

Omg, such great info 💙

@piku5637 Ай бұрын

We need an Uncle Ho type of figure to emerge in America.

@Googlag Ай бұрын

What will happen when uncle dies? Division of inheritance?

@patricialongo5870 Ай бұрын

I wonder how much longer the algorithm can determine our politics.

@markusseah6803 Ай бұрын

Thanks!

@williamblack4097 Ай бұрын

Let's not forget Shawn Fain endorsed Genocide Joe.

@richardong6544 Ай бұрын

Thanks

@CharlotteAdam360 Ай бұрын

Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them

@Juanw5ayne Ай бұрын

Exactly! My grandparents were so frugal but they had a TON of money on both sides. I remember my grandfather telling me "you want to make money while you sleep." And I guess that attitude passed down to my dad (RIP), because I remember going to his house one day and I had bought something I really liked, so I wanted to show it to him. So I said "Look at this! Isn't it cute? It was on sale...I saved 50%!" My dad replied "Well, if you're spending, you're not saving." Obviously I had no retort, and that has always stuck with me.

@DaniCharney Ай бұрын

Saving and investing wisely while prioritizing necessities and a few small luxuries in relation to one's total assets is a great approach. It helps ensure financial stability and I my for the enjoyment of life's little pleasures without compromising long-term financial goals. It's all about finding a balance that works for you!

@KathyJvanest Ай бұрын

very true, a huge part of my portfolio growth has come during this bear market. I've been able to scale from $180K to $572K in a short period of time.

@MattHardwood1 Ай бұрын

How do you do that? I'm interested

@KathyJvanest Ай бұрын

Thanks to my co-worker (Alex) who suggested Ms Brenda Leigh Van.

@idontgetit2938 28 күн бұрын

Nice! I don't know if he's addressed this before, but I wonder if he would do a segment comparing MMT to its competitor theories

@piku5637 Ай бұрын

Co-ops in particular working with strong active unions are the closest we can get to achieving (libertarian)🏴socialism. A true🗳️💙social democracy.🐦‍🔥☭🕊️🌸🏳️‍🌈Ⓐ🏳️‍⚧️

@disastrousemouse Ай бұрын

You still have to contend with a necessary switch to low/no-growth economy, which will require more automation, modular consumer goods with long-lasting foundational structures, and access versus ownership models. Still, worker cooperatives are a bridge and it builds cooperative praxis, IMO.

@SBb374 Ай бұрын

Is there a chance Chris L. Hedges will land at D@W now that his show has left TRNN?

@loisk6186 Ай бұрын

Great interview. I wish your interviews were longer. Is there any reason why they are limited to approx 15 minutes? 30 would be better.

@jgalt308 Ай бұрын

Expanding this free B.S. site, cost him 20% of his Patreon subscribers...resulting in months of absence, and him cutting loose David Harvey and the "All Things Co-op" crew. Clearly, NOT a democratically run co-op...but the 15 minutes does allow him to "control" the content and direct it toward the meaningless rhetoric that fits the mindless victim agenda which never bore you with the details.

@user-dj6hu9gq4t Ай бұрын

@@jgalt308ok bootlicker

@slom2529 28 күн бұрын

Professor Wolff for President 2024!

@MrDXRamirez Ай бұрын

It can only be a question of how long is the working day to be since wages was not the variable for the 45 years? When was the last time you got a pay increase working in the private sector? Right, ---my point exactly.

@sanestflexican 28 күн бұрын

I usually listen to the podcast via Apple, but this episode seems to be unavailable when I try to reproduce it 🤔

@Vienticus Ай бұрын

I don't see how America is retreating into all the entertainment. All the "entertainment" sucks. There's nothing to retreat into.

@user-dj6hu9gq4t Ай бұрын

ClearChannel and Iheart radio is waiting with monotonous propaganda for your escape.

@traciewebster4175 Ай бұрын

What is the big picture of what they are trying to gain and who has the most to gain from most of American's pain?

@geraldmantel4955 Ай бұрын

We as True Amerikans would rather blame the Russians than blame the real source of the problems, Wash DC.

@TheRantingRooster Ай бұрын

What is a "true American?"

@geraldmantel4955 Ай бұрын

@@TheRantingRooster Excellent question, I've been wondering the same thing for the last 60 1/2 years ...

@Support_Ad_Blocker Ай бұрын

The greatest threat to the United States is the United States.

@Glumclam Ай бұрын

The problem is capitalism the government is just another tool of capital.

@user-dj6hu9gq4t Ай бұрын

Capitalism devours democracy and shits oligarchs.

@wertywerrtyson5529 Ай бұрын

Honestly I’ll take Americas growth over the recession we have. And our inflation is worse too because the USD that is the main currency in the world is almost twice as expensive as it was a decade ago which means everything imported is more expensive which is most things in a small country with a small currency.

@switzjon8405 Ай бұрын

23:13 Darn near all of entertainment has a progressive message. It's why most are failing. People are growing tired of it.

@georgegilks348 Ай бұрын

Jimi Hendrix once said "everything in life is a gimmick, something to get your money". We are so manipulated that the majority accepts it, thinking this is normal. Glad we have people such as Richard Wolff who show us what's really going on. A hearty thank you for your insights.

@OPTHolisticServices Ай бұрын

#directdemocracy#smartfuncities...💗🍃🙏🏻

@jacob6908 26 күн бұрын

The problem with unions is the people that support them.

@tonysu8860 Ай бұрын

?? I think the audio needs to be fixed and then the video reuploaded.

@robtippin9111 Ай бұрын

😎

@bernardheathaway9146 Ай бұрын

🎉🎉

@vivalaleta Ай бұрын

Economic despair engenders fascism from an angey public. I'd love to think otherwise.

@theboyisnotright6312 Ай бұрын

I think we are seeing this in trump. It's not so much a political movement as a cult of personality. I can't for the life of me understand why you would look to that conman as a savior. But there it is. Honestly don't worry about trump so much as the person that will take over when he dies. Or the whole thing might just fall apart. Who knows? 4:04

@vivalaleta Ай бұрын

@@theboyisnotright6312 It's because of every American white men had a place in this country - good blue collar job, house, vacations. And though it's shittier for all that group has lost the most. They're angry as hell and we need to convince them of worker's rights before they go full fascist.

@samaval9920 Ай бұрын

Efjc despair in Goba South majority often rovokes reactions to nationa inde endence,rightist centrist eft national ist or socia ist. Antico onial independence pften motivates people in Global South, but nationalism in imperial Global North is rightist imperialist -- how to develop non or anti imperial GlobalNorth national ID??

@bobybrimm5202 Ай бұрын

Reaganomics : Take from poor to give to the rich and maybe rich will give a bit back. Bidenomics : I dont know man, just leave me alone.

@traciewebster4175 Ай бұрын

The rich are supposed to give a lot to the poor per scripture in the Bible. If there are rich people claiming to be religious then why aren't they doing it?

@abeismain Ай бұрын

Do unions have a formula? 😅

@conantheagrarian Ай бұрын

Lemme guess your name, Jaxon claxon

@crowwalksalways3419 Ай бұрын

Not a prayer

@rogerdorsey7823 Ай бұрын

NOT ELIGIBLE FOR DISTINCTION.

@JoMo-yb4oe Ай бұрын

Legalize tiktok

@user-cj2wz8sb1l Ай бұрын

@user-dj6hu9gq4t Ай бұрын

Too much truth, fascists operate in the lie.

@andrzejfrancikiewicz9964 Ай бұрын

Dear Professor Walffe gooten Tag , i think we have to crate 3 party because the two party dont represent 70 percent dont represent common peoples

@geraldmantel4955 Ай бұрын

Amerika .... DUH!

@TacticalMayo Ай бұрын

USA 🇺🇲 USA 🇺🇲 USA 🇺🇲

@geraldmantel4955 Ай бұрын

@@TacticalMayo Duh ... Duh ... Duh!

@Support_Ad_Blocker Ай бұрын

@@geraldmantel4955 Rah Rah 'Murica! Free-dumb!

@user-dj6hu9gq4t Ай бұрын

‘Merikkka. Dumb and dumber

@TacticalMayo Ай бұрын

LOLOL ABSOLUTELY NOT.

@elviraespinoza429 26 күн бұрын

Tvs Laying not talk tis News.

@notsoancientpelican Ай бұрын

about zero, is the realistic answer

@brentirving7209 Ай бұрын

I know professor Wolff knows this and i often think he tries to oversimplify his message, presumably for the audience he believes he has and the response he is hoping to arouse. Economic growth as a simple percentage reflecting the entire country tells you virtually nothing about the wellbeing of its citizens.

@richardthut7071 Ай бұрын

❤❤I ❤❤would ❤❤have to ❤❤say that ❤this our stem is doomed to fail so what you are saying we invent bigger numbers 10 or 11thousand dollars a hour but we want more what do thing?

@richardthut7071 Ай бұрын

I just have to say how 🤔 far can it go

@huwpatt3817 Ай бұрын

Ths distractions are language based... words "obfuscate" "nascent" "duoploldtlc "faid~~" are not generally recognisable meanings... listen 2 yrselves"... & Prof, dosge hyperbole

@conantheagrarian Ай бұрын

Beardo, if you’re not being authentic you’re a flop. You can thank tiktok for that.

@elviraespinoza429 26 күн бұрын

Ex CIA JORGE SOROS AR EUROPEA.

@elviraespinoza429 26 күн бұрын

Not govierna Real Americans today govierna Washington Israel GENOSIDAS govierna Washington.

@richardthut7071 Ай бұрын

US political stem is becoming increasingly childish a absolute imbersment i think that you people have been sniffing to much gun powder 😂

@kitexpoem Ай бұрын

Stopping watch at 21:58 cause i worked 10 hours today...here my fear: you still believe that this civilization is changeable. How far down do we dig? How far back? What structural changes are required? This dude, Richard, has good jargon, blaming TV, basically...it needs to collapse. When anyone has a decent idea about what to replace this with, i will listen. But if y'all wanna talk shit while i work 10 hours a day, he calls you "Mr Wolfe, i call you "Richard." At this point, propose an alternative, what we do day zero, Khmer Rouge refrence intended, or it is all wind of garbage i heard all my life. What to do day one? I am asking, cause this chat is chatter. I am a smart man, have taken billy clubs, what shall we do? And do not dare tell me to vote. I remember.

@user-dj6hu9gq4t Ай бұрын

Start a cooperative.

@nathangostey Ай бұрын

I think that the point was to get organized with unions and the social parties that you align with. But honestly there aren't easy or clear action steps to achieve those things either. There's more information about this stuff online that Richard covers via debates, etc., but you may have to do a little digging.

@nathangostey Ай бұрын

And to add on to what I said, what you want (action steps) wasn't the subject of the video

@geraldmantel4955 Ай бұрын

If Boston U grad students wanted to be true Amerikans, they would take a 50 percent pay cut and donate the difference to pay down the National Debt ... so there.

@TheRantingRooster Ай бұрын

Why not Elon Musk, Jeff Bezos, Warren Buffet, Bill Gates and other "multi-billionaires", who have stashed an estimated $21 to $36 TRILLION in untaxed income in offshore tax havens, donating everything above 1 billion? They would make a bigger dent that college students. You must hate the working class. 🤔

@ronstephen-wy4ib Ай бұрын

You've done that already, right?

@geraldmantel4955 Ай бұрын

@@ronstephen-wy4ib Check's in the mail!

@dbarker7794 Ай бұрын

Thanks for the laugh, bro. 😂

@user-dj6hu9gq4t Ай бұрын

Just tax the rich and it’s done.

@siljrath Ай бұрын

look where we are on the *political compass*. dot, if you will, org. a turn merely left right now, takes us to worse places. freedom first. "We are convinced that freedom without socialism is privilege and injustice, and socialism without freedom is slavery and barbarity." --Bakunin

@Googlag Ай бұрын

Bourgeois democracy is the rule of exploiters, the democracy of the minority. Socialist democracy is the power of the workers, the democracy of the majority.. But you personally can remain among the minority. In their insignificant illusions and fairy tales of garage billionaires.

@user-dj6hu9gq4t Ай бұрын

Waiting to be eaten.