How an AI Bubble Crash Could Be Worse Than the Great Depression w/ Prof. Wolff
The Socialist Program with Brian Becker
The Socialist Program
4.7 • 587 Ratings
🗓️ 19 November 2025
⏱️ 30 minutes
🧾️ Download transcript
Summary
The stock market has plunged several days in a row due to fears of the overinvested AI bubble bursting. Nicole Roussell, a producer of the show, and Professor Wolff discuss how the next stock market crash could cause an economic collapse even more devastating than the worst in capitalism’s history: the Great Depression.
Professor Richard Wolff is an author & co-founder of the organization Democracy at Work. You can find his work at rdwolff.com.
Join the The Socialist Program community at http://www.patreon.com/thesocialistprogram to get exclusive content and help keep this show on the air.
Transcript
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| 0:00.0 | Fears of the AI bubble bursting caused the stock market to drop this week, quite a bit. |
| 0:06.2 | What will happen when the bubble does burst? |
| 0:09.1 | We need a new system. We need a new society. |
| 0:13.1 | We need to demand that which may have sounded impossible even a few weeks ago, |
| 0:17.3 | but is not only realizable, but an imperative necessity. We are very excited to have Professor Richard Wolf join us for our regular weekly segment, where we discuss the biggest stories relating to the economy, the state of the working class, and the crimes of big business. |
| 0:55.1 | I'm Nicole Roussel, sitting in for your host, Brian Becker. |
| 0:58.2 | The Socialist Program brings you content several days a week thanks to the support of our patrons |
| 1:02.3 | at patreon.com slash the Socialist Program. |
| 1:05.1 | We appreciate all of your support and encourage you to become a patron today if you enjoy listening |
| 1:09.8 | to the show. |
| 1:11.4 | Richard Wolf is the co-founder of the organization, Democracy at Work, and the author of many books, |
| 1:16.2 | including Understanding Capitalism, which is available at Democracy at Work.Info. |
| 1:22.3 | So as I said in the intro, Richard, I mean, so far this week, we're recording middle of the day, |
| 1:27.2 | Tuesday, and so far this week, the're recording middle of the day, Tuesday, |
| 1:28.1 | and so far this week, the stock market has been just spiraling downward as the investor class |
| 1:33.1 | gets nervous about the AI bubble bursting. The Wall Street Journal has a headline today. |
| 1:38.4 | Fears of an AI bubble are hammering stocks for the fourth straight day. The CEO of Google, |
| 1:43.4 | I'm going to play a clip of him in a few minutes. |
| 1:46.0 | He estimates that a trillion dollars have been put into AI already. |
| 1:49.2 | So that is a pretty big bubble. |
| 1:51.2 | Before we go to that clip, I just want to get your initial thoughts on this. |
| 1:55.1 | Okay. |
... |
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