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Economic Update with Richard D. Wolff

The Harm Done by Economists

Economic Update with Richard D. Wolff

Democracy at Work

Government, News, Politics

4.82.1K Ratings

🗓️ 22 September 2022

⏱️ 29 minutes

🧾️ Download transcript

Summary

This week on Economic Update, Prof. Wolff talks about the unionization drive among minor league professional baseball players, high poverty rates among US families working full-time year round, and the economics of discrimination against pregnant women. In the second half of the show, Wolff interviews Prof. George DeMartino on the harm done by the economics profession and why it denies doing so.

 
 

Transcript

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0:00.0

Welcome, friends, to another edition of Economic Update, a weekly program devoted to the economic

0:16.4

dimensions of our lives, and those of our children coming down the pike.

0:21.6

I'm your host, Richard Wolfe.

0:24.6

In today's program, we'll be talking about unionization among professional baseball players.

0:30.6

We'll be talking about full-time workers who end up being poor by American standards, and we'll talk about the special conditions

0:39.9

and positions of pregnant women in the American labor force, because all of those particular

0:46.8

issues touch very large questions in our society, which is why we choose them for analysis.

0:55.0

So let's begin with baseball.

0:57.5

For those of you who may not know, we have a professional baseball system here in the United

1:02.8

States, 30 teams making up major league baseball.

1:09.1

But each of those teams maintains what are called minor league teams. This is where

1:15.7

young men, and hopefully in the future, at least young women who are very good at playing baseball,

1:21.9

get a chance to show just how good they are by playing a regular season against other teams, all of the same

1:30.2

apparatus. It's a whole world of minor league baseball. But those particular players have been

1:38.0

ripped off by the capitalists who own and operate major league baseball. What do I mean? Well, they are paid very

1:46.5

poorly. They are supposed to be so excited about the prospect that if they do well in minor

1:53.1

league baseball, well, then they will be lifted up into the Major League teams. Now, it turns out

2:00.7

that the players in the major leagues, those

2:03.5

30 teams, are already unionized. They learned years ago that if they didn't want to be

2:11.3

ripped off by the people who hired them and purchased them for playing in the teams, they better be unionized, and they have been.

2:20.6

And the union is called the Major League Baseball Players Association, MLBPA. And the interesting thing

2:31.0

was this summer, summer of 2022, the MLBPA decided to try to organize the minor

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