The truth about profits in the US is simple. Ed Dolan’s recent piece in Seeking Alpha contains a graph that makes it all too clear.   

First, its clear that profits as a percentage of total US GDP have recovered from the crash of 2008. Unemployment may still be over 50% higher than it was in 2007, and real wages may be below what they were then, and the benefits and security of jobs may have fallen, but profits have come back. And with them the stock markets. Hence also the upbeat talk about “recovery” yet again.

 

Updates on Cyprus's extreme austerity, equal justice and markets, falling job quality, and capitalism's impact on China. In-depth discussions of how worker coops can get needed capital and on basic flaw in economic education at college and university levels. Response to listeners' questions on printing money and inflation and on teachers' self-directed schools.

 

 

 

Richard Wolff on Capitalism’s Destructive Power

Richard Wolff’s smart, blunt talk about the crisis of capitalism on his first Moyers & Company appearance was so compelling and provocative, we asked him to return. This time, the economics expert answers questions sent in by our viewers, diving further into economic inequality, the limitations of industry regulation, and the widening gap between a booming stock market and a population that increasingly lives in poverty.

    Economist Richard Wolff joins Mark Niu on CCTV to discuss the delicate trade relationship between the U.S. and China.

 

  Pete Dominick presses Professor Wolff on his Sirus radio program Stand Up!

      On Capitol Hill, there's still no deal in sight to avert the 85-billion-dollars' worth of cuts which will kick in later on Friday. It's known in Washington as the 'sequester' and would see significant reductions on military and domestic spending. But Republicans and Democrats just can't agree on what to do. President Obama says U.S. will get through the deep budget cuts if it has to, but admits the economy will get even worse. Economist Richard Wolff says the American people should prepare for the worst.

Updates on profit-driven scandals (horsemeat in Europe and fish in US); how long we work, Correa's anti-austerity victory in Ecuador, and getting public benefits for public investm

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