2021-05-10 16:15:35

Economic Update: Capitalism vs. Democracy

On this week's show, Prof. Wolff presents an analysis of how and why capitalism is an undemocratic economic system. The first half is devoted to the micro-level, namely to the organization of the enterprise (factory, office or store).

Its undemocratic character is exposed using examples and empirical evidence. The second half has a macro-level focus that shows how capitalism's generation of growing income and wealth inequality impels the employer class (a small numerical minority) to use their money politically. Their practice undermines real democracy leaving only its empty forms.

Economic Update with Richard D. Wolff takes complex economic issues and makes them understandable, empowering listeners with information to analyze not only their financial situation but the economy at large. 

By focusing on the economic dimensions of everyday life - wages, jobs, taxes, debts, interest rates, prices, and profits - the program explores alternative ways to organize markets and government policies.

Missed an episode? Check out Economic Update on FSTV VOD anytime or visit the show page for the latest clips.

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Capitalism Democracy. Professor Wolff Economic System Economic Update Economy Enterprise Free Speech TV Macro-level Richard Wolff

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