Capitalism and Culture, Their Connection in Crisis Now
Economic Update with Richard D. Wolff
Democracy at Work
4.8 • 2.1K Ratings
🗓️ 15 July 2025
⏱️ 31 minutes
🧾️ Download transcript
Summary
On this week's episode of Economic Update, Professor Wolff provides updates on Medicare advantage and "pre-authorization" as a way to reduce Medicare payments, liberals and radicals split over Mamdani, Trump's current budget further deepens the inequality of wealth across the US, and Mexico attends the BRICS meeting in Rio de Janeiro. In the second part of today's show, Professor Wolff interviews Professor Henry Giroux from McMaster University, Canada, on capitalism, culture, and fascism in the U.S. today.
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Transcript
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| 0:00.0 | Welcome, friends to another edition of Economic Update, a weekly program devoted to the economic |
| 0:26.9 | dimensions of our lives and those of our children. |
| 0:30.8 | I'm your host, Richard Wolfe. |
| 0:34.0 | I want to remind you that Charlie Fabian is a waiting word from you. |
| 0:39.0 | If you have suggestions or proposals or comments on our programming, you can reach them |
| 0:45.4 | as always at Charlie.info438 at gmail.com. |
| 0:53.3 | And likewise, a reminder that a companion volume to these programs is understanding |
| 1:00.5 | capitalism, a book I wrote and that we released here at Democracy at Work earlier this year, |
| 1:08.3 | and that goes into greater depth and detail on the points that we raise in and |
| 1:15.5 | by means of these more topically focused segments. |
| 1:21.2 | Today we're going to be talking about the so-called Medicare Advantage. |
| 1:26.3 | We're going to be talking again about the implications of the victory |
| 1:32.6 | by Zoran Mamdani in New York City in the Democratic primary for mayor and the bill, the |
| 1:42.2 | new budget bill that President Trump signed and that we are now working under in this country, |
| 1:50.0 | and if time permits about the relationship between Mexico and the BRICS Alliance. |
| 1:57.0 | Okay, let's jump in. |
| 2:00.0 | It is not altogether clear, not to me. Okay, let's jump in. |
| 2:01.2 | It is not altogether clear, not to me, not to the media, not even to Congress. |
| 2:09.0 | What the exact consequences of the new Trump budget will be when it comes to medical |
| 2:17.4 | insurance provided to the American people. |
| 2:23.8 | There are cuts, especially, apparently, in Medicaid. That's the medical insurance for the |
| 2:32.3 | poorest people among us. |
... |
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