Economic Update: Which Way For US Economy

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Season 6, episode 49
THIS WEEK’S TOPICS (w/timestamps):
00:56 – Uber’s corrupt profiteering;
05:45 – updates on the immoral cancer research conducted and sponsored by the sugar industry;
07:36 – the conflict of interest that is Trump’s personal business affairs;
13:16 – announcements;
14:38 – the neglected NYC Subway system;
19:36 – the historic wage decline in the UK;
21:28 – Norway’s sovereign wealth fund;
28:25 – SPECIAL GUEST: interview with economist and political advisor to Bernie Sanders Stephanie Kelton, as she and Prof. Wolff discuss the future of the U.S. economy.

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Richard D. Wolff’s website: http://www.rdwolff.com
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Follow Richard D. Wolff on Twitter: http://twitter.com/profwolff

Comments

Megan Lopez says:

I didn't even know that about Uber!! idk I must be living under a rock I'm glad I got a hankering to hear about our economy and type in "US economy" into YouTube lol I'm subscribing thank you!

Litgow says:

5 videos in and this is already my favorite show.

Findottier says:

What about if we learn from ETs, they might know some better systems. See if you wish, http://proutscandinavia.blogspot.com/2017/12/my-visions-for-year-2018-and-beyond.html

Rahul Shah says:

Keep this up great economic news

Edward Dodson says:

A further comment regarding the British economy and the concentration of income and wealth. There is now strong interest in Henry George's proposal to tax the rent of land. Greens have championed this reform for some time. Now, some Labour and even some Tories have embraced the reform. Most recently, Tony Blair has voiced his support. We shall see whether Britain's historically-powerful landed aristocracy will be able to block the taxation of land values as they were able to do the last time this measure was almost adopted. That was back when David Lloyd George was Prime Minister.

Edward Dodson says:

The reasons we make the food "choices" we make is complex. Even when the knowledge about the dangers of consuming foods with sugar or corn syrup many people continue to consume huge quantities and even feed this type of food to their young children. Obesity and otherwise poor health is for millions of people the result. So, why do so many people make such poor choices? Knowledge or the lack thereof is one reason. For the urban poor the reason is often a lack of choice of where to purchase food. On the positive side, retail food providers (and even restaurants) have clearly got the message from more health-conscious consumers. They provide choices and are expanding the choices of organically grown foods. Despite whatever promoters of good health behaviors can do, there will always be people who continue to make poor choices — about food and about other important life choices. The societal issue is to what extent government should be brought to bear to protect people from themselves. This is a complex societal issue. For a long list of behaviors, choice disappears into addiction. We pay a heavy price for widespread addictions. Prevention is certainly preferred over remediation and treatment. What is the right balance? I wish there was a good answer.

Deep Thought says:

Your getting alot of trolls on your video's these day's professor ,i can only assume they see you as a threat ,keep up the good work your deadication is greatly appreciated.

gpain616 says:

its funny he says the system's profit is the bottom line and serving the customer. dumbass communist, how is the customer not getting a service it needs and wants at a much lower cost all because they are getting rid of the Bullshit thats not needed ? theirs no reason for a "commission" to over see a taxi company.

gpain616 says:

wow he should start out by saying hello fellow comrades. this guy is a full fledged communist. its laughable to listen to him say that we need a commission to over see a taxi service, that the drivers wont be as good LMAO like taxi companies are hiring professional nascar drivers or something. the maintenance wont be as good LOL uber cars must be lining the streets broken down i guess. this guy wants a group of lazy fucks over-seeing and dictating over a company so they can get paid for being lazy fucks.

Lioseia Nishina says:

the Dairy Industry is just as bad as the Sugar industry.

AnotherWayFilms says:

and Part 2 is where?

Dan V. says:

At 21:29 Wolff makes a statement of absolutism I take issue with. He resigns himself and other to having no option but to shake ones head at the terrible economic decline of England. England is a common law country. They understand equity in ways that have been mis-educated and mis-represented in the US. The Republicans alluded to it many years ago when The Speaker, Newt Gingrich, held up a poster declaring "Contract With America" as though it were something new.

There has always been a contract between governments and its citizens. One of the aspects of this is called: "The implied covenant of Quiet Enjoyment." There is also something called the Bill of Rights and the equitable interpretations that should be sued for within those laws. For example the inequitable treatment of lay persons versus corporations when the tax code is enacted; it violates the Deprivation of property without due process clause when the corporations are heard by congress above the lay people.

TheCarin12 says:

Its going to be a hell of a tough time coming up for those reliant of social security and medicare.

engin says:

What ever the reason is to control human and natural resources, by the most insignificant amount of people ,is the main core of the dreadful capitalist system ; either we, the majority population of this planet , will change the system ,or humanity will disappear !

Alex P. says:

Actually, I heard that Norway has mostly depleted its oil/gas; the diversification move is out of pure necessity.

stoeger 2 says:

What they paid the 100 u need to get in front of things like that and announce it first

Dick Hamilton says:

Prof, you could have contrasted what Norway did with their North Sea oil and gas with what Britain under Thatcher and her successors did with theirs. No 'Sovereign Wealth Fund' here…

Irving Kurlinski says:

Regarding the NYC subways. Their reputation as third rate is well known far and wide.

Irving Kurlinski says:

Many companies, including hospitals pay out ransoms to extortionists all the time. Virtually all computerized data systems can br hacked. Just ask the CIA and Pentagon, they do it for a living.

manumus11 says:

lets make big companies understand PLS .,instead of Giving GIFTS this Christmas ..GIVE money to ur Family members .dont buy merchandise . if businesses dont make a profit this Christmas .. THEY WILL FREAK OUT ..LOL #moneyforchristmas

Bryan Woods says:

hello arcade.city and goodbye uber

psychotronik13 says:

No need to contact my local channels. I run my own YouTube channel. I can program you myself.

Lilo Leist says:

We either change the system to a WORKER OWNED ECONOMY or we die – being eaten alive by a parasitic predatory capitalist vampire oligarchy.

Mike Schwarzer says:

Amercians are two cowardly to compel their government to be honest. It's a fake democracy. No different then an annually shareholder meetings except they don't give a shit about out.

Engineering & Science Guy says:

The alternative to sugar – Aspartame is far worse than Sugar.

Engineering & Science Guy says:

All they are trying to do in general across the board with jobs in USA and Europe is reduce the wages to the same scale as Eastern Europeans and China in order to compete with China.

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