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Professor of Economics, Author, Radio Host, Speaker
 * About Richard
 * Updates
 * Economic Update
 * Founder of Democracy at Work
 * Media
   * Media
   * Articles by Prof Wolff
   * Online Lectures
   * Economic Update (d@w)
   * Global Capitalism (d@w)
   * Ask Prof Wolff (d@w)
 * Books
 * Contact


RICHARD D. WOLFF


 * About Richard
 * Updates
 * Economic Update
 * Founder of Democracy at Work
 * Media
   * Media
   * Articles by Prof Wolff
   * Online Lectures
   * Economic Update (d@w)
   * Global Capitalism (d@w)
   * Ask Prof Wolff (d@w)
 * Books
 * Contact

 * FOX Business | 8/13/2019
 * Debate against Paul Krugman on Democracy Now! | 02/24/2020
 * Host of Economic Update
 * The Chris Hedges Report | 12/2/2022
 * Rising with Krystal and Saagar | 5/16/2021
 * Empire Files with Abby Martin | 08/27/2019
 * Real Time with Bill Maher | 07/25/2014
 * Founder of Democracy at Work
 * FOX Business | 8/13/2019
 * Debate against Paul Krugman on Democracy Now! | 02/24/2020

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DIALOGUE WORKS: ISRAEL IS CAUGHT IN A HISTORIC IMPOSSIBILITY AND ITS ECONOMY IS
IN TROUBLE

On Dialogue Works, Richard Wolff joins the conversation to analyze the complex
nature of settler colonialism and its historical impact, particularly relating
to the Israeli-Palestinian conflict. He discusses the perceived historical
impossibility of Israel's settler colonial project in the current international
context and President Biden's shifting policy towards Israel in light of global
opposition. The conversation then shifts to the broader global dynamics, where
Wolff cautions against the United States continuing as a declining empire
incapable of recognizing its fading dominance. He contrasts the US and China's
approach to international policy and development, suggesting the world is
evaluating which is more successful: military expenditure or economic growth
that alleviates poverty. Finally, Wolff addresses the notion of "might makes
right," challenging the inevitability of conflict and suggesting that,
historically, nations have found ways to coexist and resolve tensions without
resorting to perpetual war.

Read more

posted by Richard Wolff | 13684pt
April 19, 2024
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THE SOCIALIST PROGRAM: TREASURY HEAD YELLEN’S NEW CHINA COMPLAINT

Richard Wolff joins The Socialist Program to discuss Treasury Secretary Janet
Yellen's trip to China and her focus on the so-called overcapacity issue, which
the U.S. argues is China's production of too much in certain key economic areas.
Wolff criticizes this complaint as a public relations tactic by the Biden
administration, pointing out that many economies, including the U.S., have
excess capacity, and that China's success in electric vehicles and other
industries is due to their ability to produce large quantities efficiently. The
Chinese strategy of developing extensive production capacity is a normal
competitive strategy in capitalism and has been employed by successful U.S.
companies historically. Wolff also touches on the debate about protectionist
policies and argues that both free trade and protection can have complex and
varying effects on the working class, suggesting that the real issue for the
working class should be their relationship with the employer class. Lastly, he
notes the shift from U.S. advocacy for free trade to protectionist policies,
highlighting how China and other countries are adapting

Read more

posted by Richard Wolff | 13684pt
April 16, 2024
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A CLASS ANALYSIS OF THE TRUMP-BIDEN RERUN

By “class system” we mean the basic workplace organizations—the human
relationships or “social relations”—that accomplish the production and
distribution of goods and services. Some examples include the master/slave,
communal village, and lord/serf organizations. Another example, the distinctive
capitalist class system, entails the employer/employee organization. In the
United States and in much of the world, it is now the dominant class system.
Employers—a tiny minority of the population—direct and control the enterprises
and employees that produce and distribute goods and services. Employers buy the
labor power of employees—the population’s vast majority—and set it to work in
their enterprises. Each enterprise’s output belongs to its employer who decides
whether to sell it, sets the price, and receives and distributes the resulting
revenue.

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posted by Richard Wolff | 13684pt
April 16, 2024
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ECONOMIC UPDATE: A SEA CHANGE IN US LABOR'S MILITANCY

In this week’s Economic Update Professor, Richard Wolff examines US spending on
war materials for Ukraine and Israel, we will discuss Chinese Electric Vehicle
imports and the US's protectionist response, and we will highlight the possible
convergence of worker cooperatives as part of union negotiating strategies, and
we discuss the impact of Harvard college workers vote overwhelmingly to join two
unions. Finally, we Interview author and union organizer, Kim Kelly.

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posted by Richard Wolff | 13684pt
April 15, 2024
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THE CRITICAL HOUR: WEEKLY NEWS WRAP UP (06.04.2024)

Richard Wolff joins The Critical Hour to discuss the success of China’s hybrid
economic model, which combines state-owned and private enterprises, and is
outperforming the US and European market-based economies. Treasury Secretary
Yellen has voiced concerns over China's growing economic capabilities,
particularly in electric vehicles and computer applications. Wolff highlights
that despite government subsidies being a common global practice, China's
efficient use is leading to its expected surpassing of the US economy by the end
of the 2020s. The US Trade Representative, Catherine Tai, has criticized China's
economic model as "non-market" policies, which Wolff argues is an inaccurate
characterization since China does engage in market activities, much like any
other nation. Lastly, Wolff suggests that the European social model, which has
historically provided substantial welfare benefits, could face challenges due to
pressure from the US to increase military spending, potentially leading to tax
hikes or cuts in social services.

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posted by Richard Wolff | 13684pt
April 11, 2024
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ECONOMIC UPDATE: THE MYTH OF BLACK BUYING POWER

This week’s Economic Update Professor Richard Wolff discusses how the capitalist
political economy can explain the Baltimore bridge disaster, we explain why
raising minimum wages helps big vs small businesses. We highlight the recent
court rulings in New York and how cities can lower rents for their citizens as
Kingston, NY just did, (if tenants mobilize to do so). Finally an Interview with
Professor Jared A. Ball on the myths of black buying power and black capitalism
and the role such myths play in supporting capitalism. Read more


posted by Richard Wolff | 13684pt
April 08, 2024
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PROJECT CENSORED: THE COST OF AMERICAN DELUSIONS WITH PROFESSOR RICHARD WOLFF

Prof Wolff joins Project Censored to discuss the decline of U.S. influence and
the delusions of power in current global politics. He analyzes the complex
economic situation in Europe, highlighting its struggles to compete with the
U.S. and China, alongside internal challenges such as right-wing politics and
immigration crises. Wolff also explores the impact of economic nationalism
versus neoliberal globalization, suggesting a shift in global economic power
dynamics towards China. He touches on the economic and political consequences
for Israel due to its conflict with Palestine and the U.S.'s potential
reevaluation of alliances with European countries. Finally, Wolff foresees a
possibility of a left-wing political turn in response to the failure of
right-wing solutions to address underlying social and economic issues.

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posted by Richard Wolff | 13684pt
April 04, 2024
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DIALOGUE WORKS: NATO'S TERRIBLE MISCALCULATIONS AS UKRAINE IS BEING DESTROYED

Prof Wolff joins Dialogue Works to discuss significant miscalculations in the
West's approach to the Ukraine war, suggesting overestimations of Russia's
weakness and underestimations of its resilience. He argues that Western powers
failed to anticipate Russia's capacity for sustaining an attritional conflict,
misjudging both the country's military and economic fortitude. The resulting
miscalculations, according to Wolff, have had catastrophic consequences for
Ukraine, causing widespread destruction and massive population displacement.
Wolff posits that these errors stem from a broader inability to confront the
decline of American hegemony and the concurrent rise of China and the BRICS
nations. He believes that internal struggles within Western societies,
particularly between right-leaning governments and corporate interests vested in
China, will critically shape future geopolitical strategies and highlight the
urgency of addressing these costly delusions.

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posted by Richard Wolff | 13684pt
April 04, 2024
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ECONOMIC UPDATE: RESURGENT LABOR ORGANIZING IN THE SOUTH

This week’s Economic Update Professor Richard Wolff discusses the US Treasury
Department charges Apple as monopoly, Georgia's state government sides openly
with employers against unions, two union members decide to enter important
elections as independent voices in Nebraska and West Virginia, and a critique of
the FED's policy that keeps inflation and interest rates high. Finally we
Interview Mike Elk, publisher of the Payday, on his views regarding the
important UAW fight for union recognition at VW plant Chattanooga, TN. Read
more...


posted by Richard Wolff | 13684pt
April 01, 2024
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THE SOCIALIST PROGRAM: US CAPITALISTS FLOCK TO CHINA AS US GOV’T SAYS STOP CHINA

On this episode of The Socialist Program Brian and Prof. Wolff discuss US
attempts to minimize China's production of computer chips, the scale of which is
proving to be a big draw for US-based corporations. Is it really possible to ice
China out of the global supply chain?

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posted by Richard Wolff | 13684pt
March 27, 2024
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ECONOMIC UPDATE: HOW CAPITALISM DISTRIBUTES POWER

Updates on resurging child labor in US, colleges athlete vote to join unions,
unionization sweeping not-for-profit charities (hospitals, museums, etc) such as
MassMoca in western Massachusetts. Major discussion of how capitalism
concentrates power in mass media (including social media), in authoritarian
internal structures of corporations, and via donations and other controls
exercised over two major political parties and over politicians. Read more

posted by Richard Wolff | 13684pt
March 25, 2024
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THE SOCIALIST PROGRAM: NEW U.S. THREATS AGAINST RUSSIA

Prof Wolff joins The Socialist Program to discuss the intensifying U.S. efforts
to apply pressure on global financial institutions in the Global South to
enforce sanctions against Russia. Despite initial expectations for a quick
economic collapse, Russia's economy has proven resilient, and Washington is now
targeting banks in countries like the UAE and Turkey to cut off Russian access
to global markets. Sanctions are a form of government intervention that dictates
with whom businesses can trade, often leading to evasion and the search for
workarounds by affected entities. The continued failure of sanctions against
Russia over the past two years is seen as evidence of a shifting global economic
balance and the waning influence of the U.S. Lastly, he critiques the use of
"national security" as a catch-all justification for protectionist policies,
which may not always align with the interests of workers or even all sectors of
American capitalism.

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posted by Richard Wolff | 13684pt
March 20, 2024
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ECONOMIC UPDATE: PATRIARCHY AND CAPITALISM

This week’s Economic Update Professor Richard Wolff discusses the UAW union’s
latest moves. Their organizing drives at auto plants, their efforts to form
unions among employed and free-lance journalists. In addition, we will highlight
New York Governor Kathy Hochul’s decision to deploy national guard troops in New
York City subways and what that means for everyday residents. Finally, an
interview with psychotherapist Tess Fraad-Wolff on interactions between
patriarchy and capitalism, today. Read more


posted by Richard Wolff | 13684pt
March 18, 2024
1 comment Share


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THE SOURCE: ECONOMICS OF THE UKRAINE AND GAZA WARS & THE RISE OF ARTIFICIAL
INTELLIGENCE

Prof Wolff joins The Source to talk about global economic challenges, focusing
on the impact of Western sanctions against Russia and the U.S.'s declining
influence. Despite sanctions, Russia's economy shows growth, credited to
Russia's strengthened ties with non-Western economies like China and India.The
sanctions are a failed attempt to control Russia and a means for the U.S. to
engage in the Ukraine conflict indirectly. Turning to Germany, Wolff attributes
its economic downturn to severed ties with key markets like China, exacerbated
by sanctions against Russia. Lastly, on AI, Wolff explores how its benefits or
detriments depend on the surrounding economic and social systems, not the
technology itself.

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posted by Richard Wolff | 13684pt
March 15, 2024
3 comments Share


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THE SOCIALIST PROGRAM: TIKTOK WITCH HUNT!

Prof Wolff joins The Socialist Program to discuss potential new U.S. legislation
that could ban TikTok, fueled by anti-China sentiment and a new wave of
McCarthyism. He contends that various elements contribute to this movement,
including politicians seeking publicity and businesses desiring a competitive
edge. Wolff notes that similar restrictions could hurt American businesses
abroad and emphasizes China's steady economic rise, suggesting the U.S. is in
decline. He also highlights the shortsightedness of the U.S. in failing to
invest in education and infrastructure, necessary for sustaining technological
growth. Finally, Wolff predicts that the accumulation of political and economic
missteps may eventually lead to a significant shift in American politics and
public awareness.

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posted by Richard Wolff | 13684pt
March 14, 2024
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EMPIRE DECLINE AND COSTLY DELUSIONS

When Napoleon engaged Russia in a European land war, the Russians mounted a
determined defense, and the French lost. When Hitler tried the same, the Soviet
Union responded similarly, and the Germans lost. In World War 1 and its
post-revolutionary civil war (1914-1922), first Russia and then the USSR
defended with far greater effect against two invasions than the invaders had
calculated. That history ought to have cautioned U.S. and European leaders to
minimize the risks of confronting Russia, especially when Russia felt threatened
and determined to defend itself.

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posted by Richard Wolff | 13684pt
March 12, 2024
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ECONOMIC UPDATE: DEBRIS FROM A DECLINING EMPIRE

This week's episode of Economic Update we discuss we discuss United Kingdom
politician George Galloway by-election victory, and the raised minimum wage in
UK. We will comment on Elon Musk's lawsuit against the NLRB, as Trader Joe,
Starbucks, and Amazon also join to ask right-wing Supreme Court to gut
regulation of business. We then look at US protectionism as the Biden
administration raises tariffs on Chinese electric vehicles, in an attempt to
keep Chinese EV's from US markets. Then in labor news we discuss Starbucks’
negotiations with unions and how Michigan’s legislature killed "right-to-work"
law after 58 years. Finally, we have an Interview Richard RJ Esjow on the
current decline of the “US Empire”. Richard Eskow is a journalist and host of
The Zero Hour. a syndicated radio and television program. A lead writer,
speechwriter, and editor for Bernie Sanders’ 2016 campaign, he was also a
featured columnist at The Huffington Post. He worked for years in the corporate
world, with governments and with multinational organizations as the World Bank,
specializing in healthcare financing, policy, and information technology. Read
more


posted by Richard Wolff | 13684pt
March 11, 2024
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THE CRITICAL HOUR: WEEKLY NEWS WRAP UP (MARCH 8)

Prof Wolff joins The Critical Hour to discuss President Biden's State of the
Union address, expressing that Biden's narrative of a strong economy is
disconnected from the reality of American inequality and struggles. According to
Wolff, the president's optimistic depiction contradicts the actual economic
hardships like homelessness, mental health issues, and inadequate responses to
community problems. Despite favorable job growth headlines, Wolff criticizes the
nature of these jobs and the systemic issues not being addressed, undermining
the positive spin. He also covers Britain's political landscape, highlighting
George Galloway's surprising election victory as an indicator of public
disillusionment with traditional politics and a shift towards socialist
perspectives. Lastly, Wolff touches on the decline of American power
internationally, citing failed foreign policy in Israel-Palestine and Ukraine as
examples of a diminishing U.S. empire.

Read more

posted by Richard Wolff | 13684pt
March 11, 2024
1 comment Share


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RICHARD WOLFF LIVE WITH BLACK POWER MEDIA

Prof. Wolff joins Black Power Media to discuss socialism, economics, and the
transformative power of worker cooperatives. He emphasizes that socialism, for
him, involves collective decision-making around production and distribution,
democratically controlling the surplus that workers create. Co-ops are seen as a
transitional strategy towards socialism but are not a magic bullet; political
and cultural changes are also needed. They offer a framework to practice
economic democracy, challenging capitalist power structures and the training in
non-participation that workers experience. Wolff advocates aligning economics
with democracy to build towards a society offering real equality and better
quality of life for all.

Read more

posted by Richard Wolff | 13684pt
March 10, 2024
2 comments Share


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DIALOGUE WORKS: NATO'S HUNGER TO LOSE - GEORGE GALLOWAY'S WIN - NULAND'S
RESIGNATION

Prof Wolff joins Dialogue Works to discuss current geopolitical tensions,
including Europe's involvement in Ukraine, neoconservative influence in US
foreign policy, and the shifting balance of power in the global economy. He
highlights the West's failure to undermine Russia, European politicians' refusal
to admit mistakes, and the risks Europe faces by aligning too closely with the
US. He stresses the need for Europe to form a distinct economic block and
advocates for reevaluating relationships with Russia and China given their
growing economic influence. Wolff also comments on the changing US domestic
political landscape and its potential impact on foreign policy decisions.
Lastly, he acknowledges the shifting global economic power from the G7 to BRICS,
predicting it will result in more countries turning to BRICS for better economic
and political deals.

Read more

posted by Richard Wolff | 13684pt
March 06, 2024
3 comments Share


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THE SOCIALIST PROGRAM: BILLIONAIRE POWER: AN AMERICAN OBSCENITY

In this episode, Prof Wolff and Brian Becker delve into the reasons behind the
concentration of nearly $1 trillion in wealth among just five individuals,
contrasting this with the modest one-time awards or cash prizes typically
received by inventors, scholars, and celebrated figures in various disciplines.
They also explore how Jeff Bezos was able to run Amazon without turning a profit
for nine years, a feat unattainable for most businesses, which struggle to
survive beyond a few months without profit.

Read more

posted by Richard Wolff | 13684pt
March 06, 2024
1 comment Share


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ECONOMIC UPDATE: CAPITALISM, GENDER, AND A SPLIT SOCIETY

This week's episode of Economic Update hosted by Professor Richard Wolff, we
discuss the underemployed of US college graduates, failed anti-Russian
sanctions, the collapsed UK birthrate, and expanding wars in the Middle East, we
will dive into the costs and risks in absence of a ceasefire in Gaza. Finally we
Interview Dr. Harriet Fraad, host of Capitalism Hits Home and a clinical
therapist. Professor Wolff and Dr. Fraad explore the post 1970's
deindustrialization in the US, its impact on white males versus other social
groups, and resulting US social splits. Read more...


posted by Richard Wolff | 13684pt
March 04, 2024
1 comment Share


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ECONOMIC UPDATE: BREAKING UP WITH CAPITALISM

This week's episode of Economic Update hosted by Professor Richard Wolff, we
discuss the Philadelphia University of the Artist Faculty Union and its
struggles; we clarify what declining inflation does and does not mean; we answer
the question: as to why sanctions fail. Finally we interview Essence Magazine's
senior news & politics editor author, lawyer Malaika Jabali and discuss her
newly released book "It's Not You Its Capitalism". Read more


posted by Richard Wolff | 13684pt
February 26, 2024
2 comments Share


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DIALOGUE WORKS: UKRAINE LOSING, RUSSIA WINNING, NEOCONS ENDLESS DEFEATS -
TUCKER'S INTERVIEW

Prof Wolff joins Dialogue Works to provide insights on his perspective regarding
the interview with Vladimir Putin by Fox News host Tucker Carlson. He discusses
the importance of such interviews as opportunities to understand official
positions and potentially uncover new information about international conflicts
such as the war in Ukraine. Wolff criticizes American media for attacking
Carlson and emphasized the need for open communication and the value of letting
opponents like Putin express their views. He mentions the historical context and
past conflicts that shape Russia's defensive posture and notes the change in
trade currency from the dollar, indicating a strategic shift by Russia towards
other economies. Lastly, Wolff observes Carlson's journey of realization and
potential ideological shift as he recognizes the discrepancies between
propagated narratives of U.S. capitalism and the realities he is beginning to
acknowledge.

Read more

posted by Richard Wolff | 13684pt
February 26, 2024
3 comments Share


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THE SOCIALIST PROGRAM: WHY ARE WORKERS DROWNING IN CREDIT CARD DEBT?

In this discussion, Prof Wolff joins Walter Smolarek to explore the reasons
behind the significant credit card debt among workers. They delve into this
issue amidst news that the financial behemoth Capital One is attempting to
acquire another major player, Discover, for over $35 billion.

Read more

posted by Richard Wolff | 13684pt
February 22, 2024
1 comment Share


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Richard D. Wolff is Professor of Economics Emeritus at UMass Amherst and a
visiting Professor in the Graduate Program in International Affairs of the New
School University in New York. Richard Wolff is also a co-founder and active
contributor of his non-profit: Democracy at Work

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