Economic Update: A Critique of Government Spending

[EU S14 E16] A Critique of Government Spending

This week’s Economic Update Professor Richard Wolff devotes this program devoted to how to understand government spending. How it shapes the larger society. We will focus on two questions 1) What is the government spending on? and 2) How is that money going to be used, and who benefits? If government spending only flows to capitalist corporations, they will use it to reproduce capitalism including its inequalities and injustices. This is a crucial impact of government spending but rarely examined. The alternative - spending on worker coops - is explained and explored as a better alternative.

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[Deitricklaverne]

These elites in tandem with the corrupt government will take this country to it's knees like the fall of Rome, My sympathy goes to anyone approaching retirement, you may have reasonable concerns over your pension and if it'll stretch to cover the rising cost of living, bad regulatory policies, bad energy and insane fiscal policies.

[spanky]

Thank you Professor Wolff. I'm learning the economics for the Poor and Middle class and proud to be part of it .

[anthonysugarhouse]

One of your best presentations. Keep talking about the solution and less about the problems. Thank you Anthony

[_Jaybefaunt]

This was a deeply necessary question that we all must ask ourselves. Many of us question HOW government spending happens when it comes to defense, but not as many ask how it's spent domestically. Just spending on infrastructure doesn't give us the full picture. I'm glad I was able to react to this on my channel. Thank you so much for this, Professor Wolff.

[moemimouni]

THANK-U - PROFESSOR R .WOLF 4 ALWAYS WIDING MY HORIZONS, WITH EACH PROGRAM.✊

[cheri]

Thank you, Professor Richard Wolff. If anyone has listened to you or read your books, this is a great example of what could be done, as the example of Mandarin, Spain did in the 50s. We have to make our vote count by not supporting neither the Republicans or Democrats whose ties are to the capitalist and Aipec in 2024. I admired Jeremy Corbyn 2015-2020 for his efforts in British Parliament, but unfortunately, the elites squashed his ideas with deceit and lies.

[edwardhaughney]

Wonderful, as usual, presentation. The gods have sent you.

[sehuroka]

Our country needs genine political leaders with your humanitarian values and set of mind.
Thanks for the information and its dissemination Mr. Wolff.

[parmanandmahabir.]

This is a very frank talk: one scenario : one contraactor break a patch, one remake it, one rebreak the patch, oneinstalls electric wires, one covers the patch one redug the patch to fix pluming and so the patch will never complete ever and ever.

[Madaboutmada]

Take heart Prof. Wolff. They are teaching sharing economy (i.e. the Mondragon model) over at University of Illinois at Chicago. :-) While it may not show up alongside conventional economics, it does within urban planning and policy.

[nholth]

I like this idea of having the government require a percentage of spending to be through worker co-op as a way to support these types of businesses. It seems like a similar approach to how the government already directs its spending when it requires a percentage of road and bridge contract work be done through Disadvantage Business Enterprises (DBE).

[vooyas.mp]

Thank you, Professor, for sharing this knowledge so openly, in an undestandable way and for free, for all to watch and learn. I admire your patience, because when I'm trying to get these points to my friends my blood starts to boil haha I will most definitely be back next week!

[jl]

Whenever you hear a politician bragging about "public/private partnerships", be very skeptical.

[treefrog]

The complacency with which so much of America accepts their externally-imposed servitude disturbs me greatly. Orwell looms in the forefront of my thoughts, while I selfishly and ironically embrace my old age. My heart bleeds for the young people of today.

[howardfox]

Thank you. The unions have always been my compaction. As a non union trade worker, we were never given the opportunity to prepare for government jobs. Why.? You have shown my 50 years of business. But remember independents always can do it with less money.

[Marxist]

This is a great issue for us to ask, especially as our govt is giving/passing a 95 billion $ bill for the military industry.

[howardbullows]

Fantastic episode. One of my favorites you’ve made

[MrCortar]

The vacuum analogy was simple but it kinda blew my mind. Another great episode 👏

[Azazin]

Good video with valuable information. More people need to see this.

[TwiztedHumor]

He's right! The government should not do business with the corporations, they should be giving the contracts to coops as much as possible.