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| 0:00.0 | This is Planet Money from NPR. |
| 0:06.6 | So there's this flaw in capitalism. |
| 0:09.2 | Wherever capitalism has settled in the world, it has a crash. |
| 0:14.0 | On average, every four to seven years, some are short and shallow, others are long and |
| 0:20.0 | deep. |
| 0:20.8 | This is economist Richard Wolff, and we have a lot of words for this crash. |
| 0:24.9 | Depression. |
| 0:25.9 | Recession. |
| 0:26.9 | Recession. |
| 0:27.9 | That boom and bust, the downturn. |
| 0:30.7 | The crash happens all the time, but you probably already knew that. |
| 0:34.5 | We had the.com crash in early 2000. |
| 0:38.0 | We had the subprime mortgage crash in 2008. |
| 0:41.8 | And here we are in the COVID-19 crash. |
| 0:44.6 | Notice three crashes, 20 years right on the target, right on the schedule. |
| 0:50.4 | It's COVID-19 different from the other ones though. |
| 0:52.8 | Like, was that a capitalist crash or was that because of a global health pandemic? |
| 0:56.9 | Well, let me answer it this way. |
| 0:58.6 | It could have been sent off by anything, but the pandemic has made it infinitely worse. |
| 1:04.6 | There had been big, reliable signs in the economy that a recession might be coming a full |
| 1:09.6 | year before the pandemic. |
| 1:11.0 | So if the pandemic didn't set it off, something else might have. |
... |
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