Capitalism's Costly Contradictions
Economic Update with Richard D. Wolff
Democracy at Work
4.8 • 2.1K Ratings
🗓️ 12 July 2023
⏱️ 30 minutes
🧾️ Download transcript
Summary
WE OWE YOU ALL AN APOLOGY WE OWE YOU ALL AN EXPLANATION WE OWE YOU ALL OUR DEEPEST SENSE OF GRATITUDE THANK YOU FOR YOUR SUPPORT, YOUR UNDERSTANDING, YOUR PATIENCE, YOUR KINDNESSES, YOUR CONCERNS, YOUR QUESTIONS, YOUR DEVOTION, YOUR SOLIDARITY & MOST IMPORTANTLY, THANK YOU FOR YOUR SUPPORT. IT HAS MEANT MORE THAN WE CAN SAY HERE OVER THE PAST TWO MONTHS OF TRIALS, TRIBULATION AND NOW, THE TRIUMPH TO COME.
Please stay connected with us for the latest news from d@w and stay tuned as well as Prof. Wolff explains what's been happening with d@w and the exciting changes to come that we're sure you will enjoy. Sign up for our newsletter for more info and updates as we roll out the next chapter of d@w. https://www.democracyatwork.info/sign_up
************************************************************************** [EU S13 E24] Capitalism's Costly Contradictions **************************************************************************
Updates on real US unemployment problem; Congress betrays students on student debt issue; huge majorities polled support US teachers, increased teachers pay, teachers' freedoms to teach about race, and teachers' power vs boards of education and state governors, importance of ILWU strike shutting down west coast seaports. Major discussions of capitalism's contradictions around (1) capitalists forever "saving on labor costs,"and (2) capitalists celebrating self-correcting markets." Economic Update with Richard D. Wolff is a @democracyatwrk 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 Every donation counts and helps us spread Prof. Wolff's message to a larger audience. A special thank you to our devoted donor community whose contributions make this show possible each week. ****************************************************************************
SUBSCRIBE: EU Podcast | Apple Podcasts | Google Podcasts | Spotify | iHeartRADIO
SUPPORT: Join our Patreon community at https://www.patreon.com/democracyatwork or donate on our website at https://www.democracyatwork.info/donate
Follow us ONLINE:
Facebook: https://www.facebook.com/EconomicUpdate https://www.facebook.com/RichardDWolff https://www.facebook.com/DemocracyatWrk
Twitter: https://www.twitter.com/profwolff https://www.twitter.com/democracyatwrk Instagram: https://www.instagram.com/democracyatwrk https://www.instagram.com/profrickwolff
Shop our CO-OP made MERCH: https://democracy-at-work-shop.myshop... **************************************************************************** Check out the Hardcover edition of “Understanding Marxism,” by Professor Richard Wolff at: https://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.”
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome friends to another edition of Economic Update, a weekly program devoted to the |
| 0:22.8 | economic dimensions of our lives and those of our children. |
| 0:27.2 | I'm your host Richard Wolff. |
| 0:30.4 | In today's program we're going to be talking about the latest report on the labor force |
| 0:35.0 | in the United States and on employment. |
| 0:37.8 | We'll look at the student debt problem and what's coming down the pike around that. |
| 0:43.5 | We're going to be talking about a wonderful poll that talks about how public schools |
| 0:49.9 | really work in terms of what do the parents and children think about what's going on |
| 0:56.5 | in our public schools. |
| 0:58.7 | And finally we'll be talking about the strike on the west coast of the United States as |
| 1:04.4 | the International Longshoreman and Warehouseman's Union closes down Los Angeles, San Francisco, |
| 1:12.7 | Oakland, Seattle and all the rest. |
| 1:15.6 | In the second half of the program we'll be talking about the peculiarities of capitalism |
| 1:21.4 | and the capitalist market that introduce the notion of the contradictions that beset |
| 1:29.0 | this system and that we can learn from. |
| 1:32.3 | So let's jump right in. |
| 1:34.6 | Excuse me. |
| 1:37.2 | The Bureau of Labor Statistics keeps records on the labor force of the United States for |
| 1:42.2 | the United States government and it issues a monthly report and I want to talk to you |
| 1:47.9 | about the latest one that is the one from May 2023. |
| 1:54.4 | Lot of people including the president of the United States and many others have pointed |
| 2:00.0 | to the wonderful or the robust or the booming or the good jobs report of the BLS. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Democracy at Work, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Democracy at Work and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.