Economic Update: The Terminal Crises of Global Capitalism

***Help us reach 300,000 subscribers! We are very close to reaching this important milestone but need your assistance. Please like and subscribe and get your family and friends to do so as well.

[S12 E45] The Terminal Crises of Global Capitalism

In this week's show, Prof. Wolff presents updates on students' solidarity with workers at Smith College; US car industry manipulates supply/demand to inflate prices, profits; Teamsters strike, solidarity defeat Sysco Systems; Starbucks provokes its 250 unionized stores, and why rising wages do not "cause" inflation. In the second half of the show, Wolff interviews Prof. William I. Robinson on global capitalism and its multiple crises he calls "terminal."

Economic Update with Richard D. Wolff is a @Democracy At Work production. We make it a point to provide the show free of ads. Please consider supporting our work. Join our Patreon community: https://www.patreon.com/democracyatwork and help us spread Prof. Wolff's message to a larger audience. Every donation counts!

A special thank you to our devoted Patreon community whose contributions make this show possible each week.
******************************************************************************************
SUBSCRIBE: EU Podcast | Apple Podcasts | Google Podcasts | Spotify | iHeartRADIO

SUPPORT: Join our Patreon community at https://www.patreon.com/democracyatwork or donate on our website at https://www.democracyatwork.info/donate

Follow us ONLINE:
Facebook:
https://www.facebook.com/EconomicUpdate
https://www.facebook.com/RichardDWolff
https://www.facebook.com/DemocracyatWrk

Twitter:
https://www.twitter.com/profwolff
https://www.twitter.com/democracyatwrk

Instagram: https://www.instagram.com/democracyatwrk
DailyMotion: https://www.dailymotion.com/democracyatwrk

Shop our CO-OP made MERCH: https://democracy-at-work-shop.myshopify.com

Want to help us translate and transcribe our videos? Learn about joining our translation team: https://www.democracyatwork.info/getinvolved
******************************************************************************************
About our Guest: Prof. William I. Robinson is distinguished professor of sociology, global and international studies, and Latin American studies at the University of California at Santa Barbara.  He researches globalization, capitalism, and crisis, and is also involved with social movements and anti-capitalist politics in Latin America and the United States.  Among his award-winning books are: Promoting Polyarchy: Globalization, U.S. Intervention, and Hegemony (1996), A Theory of Global Capitalism (2004), Latin America and Global Capitalism (2008), and Global Capitalism and the Crisis of Humanity (2014).

Links:
Web page: http://robinson.faculty.soc.ucsb.edu
Photo web page: www.flickr.com/photos/wirobinson
Facebook blog page: https://www.facebook.com/williamirobinsonsociologist
Amazon author's page: https://www.amazon.com/-/e/B001HD35GA
******************************************************************************************
NEW 2021 Hardcover edition of “Understanding Marxism,” with a new, lengthy introduction by Richard Wolff is now available at: https://www.lulu.com/

“Marxism always was the critical shadow of capitalism. Their interactions changed them both. Now Marxism is once again stepping into the light as capitalism shakes from its own excesses and confronts decline.”

Check out all of d@w’s books: "The Sickness is the System," "Understanding Socialism," by Richard D. Wolff, and “Stuck Nation” by Bob Hennelly https://www.democracyatwork.info/books
******************************************************************************************
SOURCES FOR SHOW SEGMENTS:
1. Auto industry: https://fred.stlouisfed.org/series/TOTALSA
- https://www.axios.com/2022/07/14/automakers-production-levels-decrease-profits?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter_axiosmarkets&stream=business
2. Sysco systems: https://labornotes.org/2022/10/ahead-halloween-sysco-teamsters-give-corporate-ghouls-heebie-jeebies
3. Starbucks: https://truthout.org/articles/starbucks-walks-out-of-union-contract-negotiations-after-months-of-delays/
4. Wage inflation vs price inflation: https://www.cnn.com/2022/10/28/business/workers-wages-third-quarter/index.html