Profit & Inequality: Two Driving Forces of Capitalism

Economic Update with Richard D. Wolff

Democracy at Work

Coops, Economics, Economy, Workercooperative, Capitalism, Politics, News, Government

4.8 • 1.9K Ratings

🗓️ 20 September 2023

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

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[ S13 E34] Profit & Inequality: Two Driving Forces of Capitalism

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Updates on economists favoring rent control, leading global capitalists resent/resist US's China-bashing, urgent drug shortages in US and a public pharma industry. Major discussion of causes of rising US economic inequality since 1960s and its socially explosive political effects. 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.

Transcript

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0:00.0	Welcome friends to another edition of Economic Update, a weekly program devoted to the
0:15.6	economic dimensions of our lives and those of our children.
0:19.6	I'm your host, Richard Wolf.
0:22.5	As often I do now, I want to remind you that we have a volunteer Charlie who is willing
0:27.8	and able to take your suggestions for topics we might cover, documents we might look at,
0:34.3	and so on, become in a way a partner of this program.
0:38.8	To do that, send whatever it is you have to suggest to the following, Charlie.info438 at gmail.com.
0:49.9	That's Charlie.info438 at gmail.com.
0:56.4	In today's program, we're going to be talking about a federal program of rent control.
1:02.1	We're going to be talking about the United States' China tension and how America's allies
1:08.4	are beginning to think again about being allies of the United States, given the struggle
1:15.9	with China.
1:17.1	And finally, we're going to talk about the drug shortage that is plaguing the American
1:22.3	health care scene and take a look at why.
1:25.5	In the second half of the program today, we'll be talking about inequality in the United
1:31.2	States.
1:32.2	How it grew, why it grew, and what are its important implications, which I think will shed some
1:38.4	interesting light on the politics tearing this country apart right now.
1:44.2	So let's jump right in.
1:46.3	Recently, 30 well-known economists signed a letter, published in many places around the
1:52.0	United States, demanding federal rent control.
1:57.1	The cost of renting an apartment has shot up.
	...

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