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Economic Update with Richard D. Wolff

The US Economy As An Apartheid System

Economic Update with Richard D. Wolff

Democracy at Work

Politics, News, Government

4.82.1K Ratings

🗓️ 6 February 2024

⏱️ 29 minutes

🧾️ Download transcript

Summary

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 [EU S14 E05] The US Economy As An Apartheid System 

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This week's episode of Economic Update hosted by Professor Richard Wolff, we will be discussing the continuing decline of US manufacturing; a 29,000 person strike at California State Univ.; the Houthis disrupt Red Sea shipping in move against Israel; and Texas refuses to obey US federal government's rules in struggle over immigration and white supremacy. In addition we have a special Interview with leading economist Prof. Michael Hudson on basic crises facing US capitalism.  If you haven't already, please subscribe to our channel, follow us on social media and of course be sure to sign up on our website: democracyatwork.info  And as always, we thank for your attention, support and solidarity.  The d@w Team

 

Economic Update with Richard D. Wolff is a DemocracyatWork.info Inc. 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

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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 economic

0:16.7

dimensions of our lives and those of our children. I'm your host, Richard Wolfe.

0:22.9

I want to begin as I have been doing now for a while by alerting you to the fact that

0:28.9

one of you, Charlie Fabian by name, has volunteered to collect and transmit to us

0:35.5

suggestions, ideas, resources that any of you might have to offer

0:40.8

as to where we can go to plan and produce segments for this program. Simply send any suggestions

0:48.4

you have to Charlie.com.438 at gmail.com. Once again, Charlie, that's C-H-A-R-L-I-E, Charlie.

1:02.5

Dot Info-338 at g-mail.com. Today's program, we're going to be talking about manufacturing in the

1:10.6

United States, about

1:12.4

an amazing strike at the California State University System, about missiles in the Red Sea coming

1:21.4

from Yemen and interfering in global trade, and finally the struggle between the United States and the state of

1:30.0

Texas over how to deal with the problem of immigration. Important topics, and we're going to

1:37.5

erase right through them in order to try to get at some of the core issues. Okay, let's start

1:44.0

with manufacturing.

1:45.9

The last dozen presidents have promised to reverse the decline of manufacturing, by which they

1:55.7

have meant the shrinking role of manufacturing in counting all the jobs in the United States economy.

2:05.5

Once upon a time, this was a country that spent most of its time working in the fields,

2:11.8

in agriculture, or in the factories, in manufacturing thing.

2:17.5

But both the manufacturing and the agriculture have long since shrunk to pale shadows of what

2:26.7

they once were.

2:29.3

And it's true of agriculture, as most Americans pretty well now know, but it has become true of manufacturing

2:37.7

as well. We are therefore a nation, the overwhelming majority of jobs that exist are in

...

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