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The Socialist Program with Brian Becker

Capitalism Is Bad for Babies: What's Behind the Infant Formula Crisis?

The Socialist Program with Brian Becker

The Socialist Program

Politics, News

4.7587 Ratings

🗓️ 18 May 2022

⏱️ 30 minutes

🧾️ Download transcript

Summary

On today's episode Brian Becker and Prof. Richard  Wolff discuss the shortage of infant formula and how the capitalist  economy isn't structured to take into consideration the survival needs  even of babies.

Professor  Richard Wolff is an author & co-founder of the organization  Democracy at Work. You can find his work at rdwolff.com.

Please make an urgently-needed contribution to The Socialist Program by joining our Patreon community at patreon.com/thesocialistprogram.  We rely on the generous support of our listeners to keep bringing you  consistent, high-quality shows. All Patreon donors of $5 a month or more  are invited to join the monthly Q&A seminar with Brian.

Transcript

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0:00.0

Working class parents across the country are scrambling to find one of the most essential goods on the market formula for their babies.

0:11.0

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're excited to have Professor Richard Wolfe join us again for our regular weekly segment where we talk about the biggest stories related to the economy,

0:55.3

the state of the working class, and the crimes of big business.

0:59.1

I'm your host, Brian Becker.

1:01.1

The Socialist Program brings you content three days a week.

1:04.5

Thanks to the support of our patrons at patreon.com forward slash the socialist program.

1:10.2

We appreciate all of your support and encourage you

1:13.4

to become a patron today if you enjoy listening to this show. Richard Wolfe is the co-founder

1:19.5

of the organization Democracy at Work. He's the author of many books. The latest being

1:25.3

The Sickness is the system when capitalism fails to

1:29.2

save us from pandemics or itself. There's a new hard copy edition of Professor Wolp's book

1:34.9

Understanding Marxism. It's been released recently. It features a new, lengthy introduction which

1:41.3

strengthens the case for why Marxism is worth understanding. You can check

1:46.5

out all of his work at R.D. Wolf.com. That's R.D.W.O.F.F.com. Professor Wolf, welcome back.

1:56.6

Thank you, Brian. Glad to be here. I'm looking at Fortune Magazine, Professor Wolf.

2:02.9

America is running out of baby formula because three companies control the market and babies

2:10.4

aren't that profitable. I thought like, okay, let's get started there. That's a perfect headline

2:16.6

for Fortune magazine and And in a way,

2:20.7

very insightful in terms of what this actual problem is. I'll just get you, your first reactions to

2:27.4

the presentation by Fortune magazine. And then as we go forward, I want to go through some more

2:33.1

of the details about why this crisis

2:36.2

is happening in the richest country in the world where parents are spending days and days and

...

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