Economic Update returns next week to its regular schedule! This week's episode was recorded in June this year and covers topics our viewers have written to us and requested. Professor Wolff explains what deficits are and why the capitalist system enables and invites employers to cause them. He then proceeds to explain how deficits both solve specific problems of capitalism while also causing others. Over time, problems accumulate to undermine the credit of the US and bring economic crisis. Modern Monetary Theory (MMT) is shown to offer one way out of the crisis by changing how money is created.

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. 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 this week's episode of the "Best Of Economic Update Series," we examine a comparison between the economic failures we face today caused by the same political forces and capitalists that we have encountered before, as well as the causes and effects of economic policies proven to fail. We hope you're enjoying this "Best Of" series. We will return to regular weekly updates on Labor Day, September 1st, and as always, we thank you for your attention, support, and solidarity.

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. 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

On this week's show, Prof. Wolff presents updates on how capitalism gets in the way of fighting Covid-19, systemic racism and Covid-19, why Europe did not allow the mass unemployment imposed on the US, and Wells Fargo CEO's fake excuse for lack of diversity among bankers. In the second half of the show, Wolff explores why capitalism fears the modern state and how it controls that state.

This week on Economic Update, we take a look back at some of Prof. Wolff's guest interviews from years past that still echo in today's global socio-economic setting. We hope you're enjoying this "Best Of" series. We will return to regular weekly updates on Labor Day, and as always, we thank you for your attention, support, and solidarity.

The d@w Team

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. 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

On the first half of this week's episode, Prof. Wolff discusses the following: graduate student strike at University of Michigan, Johnson & Johnson charged in opioid deaths, the richest Americans gain $845 billion from March-September 2020, New Jersey raises taxes on millionaires, and real unemployment is at 18%. On the second half of the show, Wolff talks with rising podcaster Mexie on how she brings the left together.

This week on Economic Update, we revisit two of the most viewed episodes of Economic Update. The first features Professor Wolff's analysis of the key changes driving the emergence of a new economic world order, and the second provides a look at the causes and effects of China's economic achievements. You can see both episodes in their entirety at the respective links below:

Economic Update: The Emerging New World Order (April 2023)
https://youtu.be/2s6F97zYJ1Y

Economic Update: The Phenomenon of China (April 2024)
https://youtu.be/X6LBNDKTk8Q

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

On this week's show, Prof. Wolff presents updates on the 'Social Progress Index" and US capitalism's decline; how most young Americans, 18-29, now live with their parents; Argentina's debts are cut in half; and lastly, why most of the US economy is now on welfare. The second half of the show features a major discussion of a social transition beyond capitalism.

In this week's show, Prof. Wolff presents a critique of monopoly and oligopoly; past efforts and success in popular control over mega-corporations - in US and abroad; the fight back by mega-corporations to nullify reforms and regulations. Finally, some real solutions to the social problem and costs of an economy dominated by mega-corporations.