Air Date: 5–27-2022
Today we take a look at the disruptions to society that can unfold in times of economic distress such as high inflation, price gouging, wage stagnation and income inequality as well as some policy ideas for turning things around.
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"Germany's capitalists drove it into WW1" Warns Richard Wolff. Could America's capitalist lead us into fascism? "Learn from history"
The underlying problem is not inflation. It’s corporate power. The entire American economy is concentrated into the hands of a few greedy, corporate giants with the power to raise prices.
Jayati Ghosh, who says prices of essentials are soaring much higher than can be explained by oil prices and supply shortages alone, because of what she calls "feverish speculation" in financial markets and corporate profiteering.
Professor Wolff joins to discuss the situation for workers in the US today.
OMAR OCAMPO of the Institute for Policy Studies Program on Inequality and the Common Good explains how it happened, and what actions can and must be taken to reverse this obscene trend.
An overhaul to the system where the government subsidizes only a few formula brands can help combat the monopolization that has caused this crisis, says David Dayen, executive editor of The American Prospect.
The Biden Administration’s 2023 budget proposal includes a Billionaire Minimum Income Tax and a rewrite of stock buyback practices. Will these changes actually take effect? Niko Lusiani is the Director of Corporate Power at the Roosevelt Institute.
MEMBERS-ONLY BONUS CLIP(S)
Trevor’s no finance expert, but the details of Elon Musk’s Twitter buy seem a little weird.
Ch. 12: Final comments on the culture of distrust of the poor
MUSIC (Blue Dot Sessions)
Produced by Jay! Tomlinson
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