Economic Update: The Deepening Fragility of US Power
120,439
Published 2022-08-15
In this week’s show, Prof. Wolff presents updates on successful unionization at Trader Joe’s, lottery tickets as disguised regressive taxation, gasoline inflation brings record profits to big oil companies, and pharmaceutical industries' ad campaign to block gov't plan to buy medications in bulk and pass savings onto public. In the second half of the show, Wolff interviews Vijay Prashad on his new book with Noam Chomsky on the fragility of US global power.
**Economic Update with Richard D. Wolff is a @democracyatwrk production. We make it a point to provide the show free of ads. Please consider supporting our work. Join our Patreon community: www.patreon.com/democracyatwork and help us spread Prof. Wolff's message to a larger audience. Every donation counts!
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About our Guest: Vijay Prashad is an Indian historian, the chief editor of LeftWord Books, and the director of Tricontinental: Institute for Social Research. He is a senior fellow at Chongyang Institute for Financial Studies, Renmin University of China, and author of over 20 books, including his latest co-authored with Noam Chomsky and released this month. It is entitled The Withdrawal: Iraq, Libya, Afghanistan, and the Fragility of U.S. Power.
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NEW 2021 Hardcover edition of “Understanding Marxism,” with a new, lengthy introduction by Richard Wolff is now available at: www.lulu.com/
“Marxism always was the critical shadow of capitalism. Their interactions changed them both. Now Marxism is once again stepping into the light as capitalism shakes from its own excesses and confronts decline.”
Check out all of d@w’s books: "The Sickness is the System," "Understanding Socialism," by Richard D. Wolff, and “Stuck Nation” by Bob Hennelly www.democracyatwork.info/books
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SOURCES FOR SHOW SEGMENTS:
1. Trader Joe’s Union: www.usnews.com/news/business/articles/2022-07-28/u… truthout.org/articles/trader-joes-workers-will-vot… www.teenvogue.com/story/young-workers-labor-moveme…
2. US Lottery: www.axios.com/newsletters/axios-markets-155bd5f8-2…
3. Oil Record Profits: www.wsj.com/articles/chevron-posts-record-11-6-bil…
All Comments (21)
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I think Americans genuinely don't realize the world is turning away from it in every way.
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A HUGE fan of Vijay Prashad! I could listen to him for hours.
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I love listening to Vijay Prasad, he is very knowledgeable on geo politics and he can see the truth even though how murky it is. Please bring him more to your show.
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Vijay Prasad is one of the most honest intelligent and enlightened people on the planet!! Always a pleasure to hear his wisdom.
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Thanks professor Wolff we need to keep hearing this message and voices like Vijay. So important
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Thanks that was a great interview with Vijay Pashad. Vijay Prashad expresses his thought in an eloquent way.
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Always a pleasure to listening to Mr Pradesh. An intelligent and truthful man 👍
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The high cost of gas has been mostly oil company profit. You can't say this enough.
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Great discussion, especially with vijay prishad.
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Two giants of wisdom, what a pleasure to listen to them.
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Listen to vijay, never trust the politicians, support your local co-ops, la lucha sigue compañeros 🌹🌹
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I watched the Warmonger U-tube series. Every time when a US President announced a war, they announced it with great pride. They felt absolutely heroic about it.
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I worked in a small mom and pop grocery in a tiny farming town and came to realize buying a lottery ticket is the only hope the poor have.
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The best thinkers are easy to understand. I think because they are approaching the truth. I love this guy.
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One of the most powerful solution for the entire presentation, many thanks to Professor Richard Wollf and well known Historian Mr.VJ Prashad.
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I never thought of lottery tickets as a way for the rich to avoid taxes. Thank you Professor Wolff for enlightening us on this and many other topics! Always love to hear the sanity of Mr. Pradesh. He’s on many platforms and always delivers great insights. Recently he was on Useful Idiots for a lengthy valuable interview.
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Prof Wolfe has been talking for years about how the thrashing and roiling of an empire in it's death throes will terrible to behold. Now it seems that we're experiencing it directly.
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It should be pointed out that during the 1970s, the beginning of the lottery, they stated they would put proceeds towards schools. Obviously, that did not happen.
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This was great. Thank you to the both of you. Excellent analysis from you Dr Wolff and from Vijay, clear and methodical as always. From Sydney Australia.
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This was excellent; please invite Vjay to again speak about US global suicide.
