This is the Tom Hartman program.

Well it's not often I get to do a really deep dive with somebody whose mind I am in awe

of and whose career and thoughts and work I have tremendous respect for but that's what

we're going to do right now with Professor Richard Wolff, the economist, the co-founder

of Democracy at Work.info, the author of numerous books, his most recent is The Sickness is

the system when capitalism fails to save us from pandemics or itself, his website is Democracy

at Work.info and R.D. Wolff with 2Fs.com, you can tweet him at Prof. Wolff with 2Fs.

And Professor Wolff, welcome back to the program, it's always great having you on.

Thanks so much for agreeing to just do a real deep dive here for the hour with us.

I really appreciate it.

I'd like to start out by asking what maybe a really stupid question.

I was watching, Louise and I have been binge watching The Crown and there's this moment

in the movie where the British Prime Minister confronts the reality that the pound has

to be devalued and you know what the consequences of that will be, they devalued the pound

by 20% overnight.

I was actually years ago in Israel when something very similar happened and the result of course

was that anything outside the country that was purchased became 20% more expensive and

the comment in the movie was England just became 20% poorer.

I realize that's not technically true but you know if I've got a hundred thousand bucks

sitting in a savings account in the bank and the federal government says okay we're going

to devalue the currency by 20% which by the way there's a lot less than they've devalued

our currency since 1980 but you know overnight we're going to devalue it by 20%.

...