Puerto Rican Crises and Left Political Unity

Economic Update with Richard D. Wolff

Democracy at Work

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4.8 • 1.9K Ratings

🗓️ 22 October 2024

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this week’s episode of Economic Update, Professor Richard Wolff discusses the new law signed by California Governor Gavin Newsom banning "legacy and donor" favoritism in private college admissions to foster a "merit system." We also bring your attention to Javier Milei and his regime in Argentina as they impose austerity measures on the country: the masses will suffer to pay off debts that enriched the elite few in classic ways.

Finally, we Interviewed economics Professor Ian Seda-Irizarry of the City University of New York about the conditions provoking the rise of the political left and left unity in Puerto Rico.

Ian Seda-Irizarry is an Associate Professor and Graduate Program Director at the
Economics Department of John Jay College, City University of New York. His work
focuses on the current socio-economic crisis of Puerto Rico and its relation to the
island’s first fiscal crisis in the mid-1970s.

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Transcript

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0:00.0	And the Welcome friends to another edition of Economic Update, a weekly program devoted to the economic dimensions of our lives and those of our children.
0:31.0	I am your host, Richard Wolf. Before starting today and as usual,
0:36.9	I want to remind you that Charlie is available, Charlie. info38 at gmail.com for your suggestions and so on to help us plan future programs.
0:51.1	I also want to remind you that we have this new book. I completed it
0:55.8	this last year. It's called Understanding Capitalism. It's available at Democracy
1:02.4	at work. info.
1:04.0	If you like this program, if you tune in either radio, TV, or YouTube,
1:10.0	then let me assure you the book will be valuable as a kind of companion piece.
1:15.0	It is an assemblage of the insights I try to present each week,
1:21.0	generalized integrated brought together to give you an overview of capitalism,
1:27.7	a way to understand the system, and even more importantly the problems, the mythologies, and the way it all impacts on you individually.
1:38.0	These are things I often don't have the time to do in each weekly program, and so I've tried to put it together in this book.
1:45.8	It's a short book but I think it's a concentrated presentation of what it is that brings you to this program.
1:55.0	Understanding capitalism.
1:58.0	Today we're going to be talking about a decision about favoring rich people to get them into college, as
2:07.2	happened in California and of course in many other places. a little bit about the remarkable mullet regime in Argentina, and then
2:18.9	something about Russia and the aircrafts Russia seized in retaliation to the sanctions imposed on Russia.
2:28.9	It'll give us an insight into the sanction warfare that the United States pursues without explaining to its people,
2:40.2	as we ought to have it explained, what the costs of it all might be.
2:45.0	Here we go.
2:47.0	Recently, Gavin Newsom, the current governor of California, signed a law banning legacy and donor favoritism
2:59.7	in private schools like the University of Southern California and
	...

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