The Corporatization of Universities and Trump's Attacks

Economic Update with Richard D. Wolff

Democracy at Work

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

4.8 • 1.9K Ratings

🗓️ 20 May 2025

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week on Economic Update, Professor Wolff begins by presenting updates on the death of libertarianism and the rise of US economic nationalism, and US universities become big businesses, governed by money concerns. In the episode's second half, Professor Wolff interviews Professor Geert Dhondt, the Chair of the Economics Department and Economics Professor at John Jay College of the City University of New York, on how colleges and universities are reacting to Trump's attack on higher education.

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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
0:26.3	economic dimensions of our lives and those of our children. I'm your host, Richard Wolf.
0:34.5	Today's program will begin, of course, as we usually do, by reminding you that Charlie is
0:41.7	waiting your communications. If you have suggestions or comments for the program, you can reach
0:48.8	them at Charlie.info-3-8 at gmail.com. And also to remind you of the book Understanding Capitalism
0:59.7	available at our website, which is a companion to these programs in terms of going much more
1:06.3	deeply into all of the kinds of topics we deal with here and giving you, as I say, more depth to
1:14.1	understanding them. And I think it's a worthwhile companion to the program. In the second half
1:21.9	of today, we're going to be talking with Professor Gert Dantt, an economics professor at an unusual economics program here in the
1:30.8	United States and who will talk to us about the profession, the teaching, and the special
1:37.6	program that they operate.
1:39.5	All right, let's jump right in.
1:42.7	I want to begin by talking about something I've occasionally brushed up against in these
1:47.8	programs, but many of you have asked me to go into in some more detail.
1:53.7	And it's nothing short of the death of libertarianism.
1:59.9	Libertarianism has been a way of thinking now, quite powerful, quite dominant in the United
2:05.9	States for a good bit of the last 40 to 50 years.
2:11.0	In other words, most of the lifetime of most of you.
2:15.7	And here's basically what this idea was, that an economy like ours, a capitalist free enterprise
2:25.9	economy, works best if the government stays out of it.
2:32.6	Once upon a time, this was called when the French embraced it laissez-faire.
2:38.6	That means in French, let it be.
	...

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