Thousands of worker layoffs across Twitter, Amazon, meta, and other corporate giants have sent shockwaves across the tech sector and the broader economy as bosses exercise their dictatorship over workers.

Is this a sign of a new dot-com economic crisis or recession?

We need a new system. We need a new society. We need to demand that which may have sounded

impossible even a few weeks ago, but is not only realizable, but an imperative necessity. We are excited to have Professor Richard Wolf join us again for our regular weekly segment,

where we talk about the biggest stories related to the economy.

I'm your host, Brian Becker.

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Richard Wolfe is the co-founder of the organization Democracy at Work.

He's the author of many books, the latest being The Sickness is the System when capitalism fails to save us from pandemics or itself.

Be sure to check out all of his work at R.D.Wolf.com.

That's R-D-W-O-L-F-F.com.

Professor Wolf, welcome back.

Thank you, Brian. Glad to be here.

There's different elements of this story, Richard, that I think are really important. Of course,

for now what will be actually tens of thousands of workers and their families, the sudden loss

of employment will be, you know, for many of them, just a complete personal catastrophe.

For the economy as a whole, when you see this pattern

of mass layoffs, not just at Twitter because Elon Musk took control and leveraged too much debt,

but it's happening at meta, Facebook. It's happening at Amazon. Amazon just announced, I think, a 10,000 person layoff.

...