Unprecedented Economic Crisis in America
ฝัง
- เผยแพร่เมื่อ 6 พ.ค. 2024
- A brilliant economist from the US - Dr. Richard Wolff - as our guest on Geopolitics Demystified. He is / the author of numerous books and countless lectures/podcasts. Although he speaks from the point of view of a socialist, his analyses are logical and factual, appealing to people of all ideologies.
While on the surface, the US has the world’s largest GDP, a stock market worth $50 trillion, low unemployment, innovation centers for technology, and 800 or so military vases around the world… the reality for the average American is quite terrible.
For the average America, wages have stagnated for the last 40-50 years, while cost of living has increased exponentially. Young Americans are struggling with student debt, old Americans are unable to save for retirement, and vast majority of Americans are living from paycheck to paycheck.
Prof. Wolff explains how we got here and how to get out of the neoliberal economics trap, which is being replicated all over the world, including India and elsewhere.
His work can be found at Democracy at Work on TH-cam: / @democracyatwrk
Follow your host S.L. Kanthan on Subtack and Twitter/X: @Kanthan2030
Thank you Mr SL Kanthan for having Prof R. Wolff on your show. He is such a great guest.
When politicians & leaders refuse to understand, change their mind-set, co-operate & co-exist, then decline is inevitable.
A country that exists in the world is exactly the same as us. You and I live in a society.
A country must buy things from other countries to survive, just like we buy things from different stores. Some countries are rich, and their things are expensive, like French and Italian cars, while others are poor, and their things are cheap, like Japanese and Korean cars. The same goes for the stores we shop at: some are Neiman Marcus and Saks, where rich people shop, and some are Walmart and Target, where poor people shop.
Many people like to make fun of China and look down on Made in China because they think they are Neiman shoppers. They consider China the Walmart in the world. But, the awful reality is that they are Walmart shoppers and can't live without Walmart, and so is the USA.
Of course, Americans want to rob China the Walmart, as they used to do when the Walmart security was weak and easily defeated. Unfortunately, the Walmart security they now have to fight is PLA.
Is there a simple economic relationship for evaluating the various economic systems that relates wealth inequality vs social mobility? in other words, if we codify a system that minimizes wealth inequality, it seems we end up with a system that destroys the ability to be born lowerclass and die upperclass.
A country that exists in the world is exactly the same as us. You and I live in a society.
A country must buy things from other countries to survive, just like we buy things from different stores. Some countries are rich, and their things are expensive, like French and Italian cars, while others are poor, and their things are cheap, like Japanese and Korean cars. The same goes for the stores we shop at: some are Neiman Marcus and Saks, where rich people shop, and some are Walmart and Target, where poor people shop.
Many people like to make fun of China and look down on Made in China because they think they are Neiman shoppers. They consider China the Walmart in the world. But, the awful reality is that they are Walmart shoppers and can't live without Walmart, and so is the USA.
Of course, Americans want to rob China the Walmart, as they used to do when the Walmart security was weak and easily defeated. Unfortunately, the Walmart security they now have to fight is PLA.
A country that exists in the world is exactly the same as us. You and I live in a society.
A country must buy things from other countries to survive, just like we buy things from different stores. Some countries are rich, and their things are expensive, like French and Italian cars, while others are poor, and their things are cheap, like Japanese and Korean cars. The same goes for the stores we shop at: some are Neiman Marcus and Saks, where rich people shop, and some are Walmart and Target, where poor people shop.
Many people like to make fun of China and look down on Made in China because they think they are Neiman shoppers. They consider China the Walmart in the world. But, the awful reality is that they are Walmart shoppers and can't live without Walmart, and so is the USA.
Of course, Americans want to rob China the Walmart, as they used to do when the Walmart security was weak and easily defeated. Unfortunately, the Walmart security they now have to fight is PLA.
I really enjoyed listening to Professor Wolff. I learned a lot.💕🫶🏼🤍💪🏼