New Economics Institute with Clara Mattei

Economic Update with Richard D. Wolff

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4.8 • 1.9K Ratings

🗓️ 4 February 2025

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this week's episode of Economic Update, Professor Richard Wolff delves into the heroic efforts of California firefighters and their extraordinary work in battling the recent wildfires in Los Angeles. We also explore the progressive transformations occurring within U.S. labor unions and shed light on the escalating housing affordability crisis across the United States.

Additionally, we interview Professor Clara Mattei, Director of the newly established Center for Heterodox Economics in Oklahoma. Professor Mattei shares details about this groundbreaking initiative, outlining its goals, mission, and activities, as well as how it distinguishes itself from mainstream economic approaches.

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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
0:26.5	economic dimensions of our lives and those of our children.
0:31.0	I'm your host, Richard Wolfe.
0:34.6	Today's program is going to look at the firefighters that have been really battling now for weeks in California,
0:42.3	where we are having an effect of climate change that is really shaking the country to its roots,
0:50.3	at least among those who take all this seriously.
0:55.2	I'm going to talk about a change in the labor movement that's not about strikes and not
1:01.2	about organizing unions, but about changes inside unions that deserve at least as much attention.
1:09.2	And then finally, about the genuine housing crisis that is
1:14.5	crashing across the United States and promises now to get worse. But before we do, of
1:23.1	course, I'll go through the two announcements we open our programs with. The first is a reminder
1:30.4	that Charlie Fabian, whom you can reach at Charlie. Info-338 at gmail.com, and also to remind you of the book we have recently released, Understanding
1:48.5	Capitalism, a book I wrote, to work alongside, to be read alongside these programs. Because the book
1:57.2	will explain the economics often behind the analysis in a program.
2:03.6	And likewise, each of the analyses in our programs illustrate, amplify, use what's in the
2:11.6	book. Together, they provide really quite an education into the realities of American and global capitalism
2:22.4	right now. Okay, I want to start with the firefighters. Like most of you, having seen the dramatic
2:31.4	pictures of what's going on there, we're struck on the one hand with the
2:37.4	horror of the catastrophe and on the other with the heroism of the people who have responded.
2:46.6	First of all, the 3,200 members of the Los Angeles Fire Department.
2:54.2	They have shown extraordinary heroism.
2:57.1	They have been very effective in many areas, but they're not enough.
	...

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