Economic Update: Transition Beyond Capitalism

Season 6, episode 42. THIS WEEK'S TOPICS (w/timestamps):
00:57 - The economic costs/benefits of refugees in the US;
06:34 - the rise of the BRICS nations in the world economy;
10:21 - the privatization of US public libraries;
16:09 - announcements;
17:24 - slavery in the world’s economy today;
21:43 - and how the "gig" economy is simply another effort to profiteer from a longer working day.
28:22 - MAIN TOPIC: Wolff covers what the historical transition to capitalism suggests about a possible transition from capitalism to a worker co-op based economic system.

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[Aceks]

The Gig Economy sucks. I work in the Gig Economy, and it is really unstable. The cost of having full time workers is expensive. Employers bypassed that by reducing most of their workers to part time workers and independent contractors. Instead of having one job that gives you 40 hours a week, most people have 2 or more part time jobs. As a result, I work more than 60 hours a week or less than 40 hours in some weeks. This way, they don't have to pay your health insurance, and other benefits. You have to pay for your own health insurance. That is the reality now.

[democracyatwrk]

Economic Update with Richard D. Wolff is available at no cost to public access and non-profit community stations! Contact your local public access station and let them know you would like to add Economic Update to their programming. Let us know if you've reached out: info(a)democracyatwork.info

[DoctorMoreau]

Thank you all at Democracry at Work. This weekly update is really a news source I trust. And in the world we live today, that means a LOT

[smashingdeano]

"For those of you that don't remember, back in the 18th and 19th century..." Brilliant : ). Thanks once again Mr Wolff for your clear and precise work exposing and against injustice.

[ZepawFox]

I worked a couple years for Caviar food delivery. I was working literally all day every day to survive and they still cut the pay.

[Kamezato]

The volume of the jingle at the begining of the videos is too high!

[StevenKHarrison]

Thank you Prof. Wolff for this program, it is a valuable part of my efforts to be informed on what is going on in my country and the world.
I would like to tell you that I live in a country which used to be a social paradise compared to most other countries; Austria. Here we have universal health care, and what is called the social partnership, an agreement between industry, unions and the government. It worked well for many, many years but has, over the past decade or so, been losing ground steadily. Publicly owned institutions, like the Post Office, the trains, water works and energy production have been partly or entirely privatised. Unions weakened by selling off public functions to private corporations and the like. The election yesterday of the conservative "Volkspartei" Kurz, , indicates to me that this wrongheaded policy will continue. Part of their program has been the anti-immgrant rhetoric and the mantra that private is better than public. If I was 20 years younger, I would probably move on, but as it is, I fear I'll be watching the disintegration of Austria in person, while seeing the collapse of America on TV.
Once again, thank you for all you do to educate and inform the public.

[raymondfranklin]

Richard Wolff's work is immensely important now more than ever. His employment of common speech in lieu of academic jargon is renders his work accessible to the mass of people. I would love to see Wolff author a primer on Marxian economics for common folks. Thank you Professor Wolff and the Economic Update and Democracy at Work Team.

[edithmiller]

here is a question:  1.  how do immigrants and outsourcing effect our citizens?

[이환식-bb]

Only in the eyesight not memories but remember it's in my mind. Thank you, sir. Really.

[itzenormous]

I remember when this channel had only 5, 000 subscribers. : )

[CarstenGermer]

Folks, can you please normalize the audio in your videos? The intro music is blaringly loud with my normal volume settings and when I dial it down so my neighbors stop banging the wall I can hardly understand Mr. Wolff a few seconds later.

[silverace]

any one know where i can watch the second half of this episode? i was waiting for 28:22 main- topic but then realized video is only 28:21 long, tried searching youtube but didnt show up here

[mchapman]

"Interesting" I think Proff Wollf has adopted the English manner of understatement!

[via-laterale-SCI]

I'm even more radical. I call it slavery to be punished when you reject poor working conditions and wages.

[frostybuckets]

Richard Wolff makes the world a better place..

[caseycu]

The point made about the U.S. military build up at the same time as economic decline is very interesting. I'm curious if you see parallels between the United States now Soviet Union during their decline as they also increased military spend at the expense of social, consumer, and economic programs?

[edithmiller]

is talking about importing professional.  The question is:  will Americans lose jobs?

[silverace]

man this be the real news that people ought to start watching not that main stream non senses

[thevillageleaf]

i love this and watch it every upload. one piece of constructive criticism, im a disabled vet and im hard of hearing, is there anyway you could make this slightly louder...if this is possible i would appreciate it