Updates on California's vote for tax hikes on the super rich, a public-funded museum sued for charging admission, and worker self-direction as a solution for the bankrupt Hostess bakery. Interview with political science professor Peter Ranis on workers' coops in Argentina, Cuba, and the US. Response to questions on why corporations and the rich prefer austerity as policy in capitalist downturns.
Wolff will focus on wages, jobs, taxes, and debts - and on interest rates, prices, and profits. We aim to explain why certain economic changes are happening and other changes get postponed or blocked and we will explore alternative ways to organize enterprises, markets, and government policies. Economic Update is a weekly show for people who want to understand and change not only their own financial situation but also the larger economy we all depend on.