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Economic Update with Richard D. WolffAuthor: Democracy at Work, Richard D. Wolff
Economic Update with Richard D. Wolff is a weekly nationally syndicated program produced by Democracy at Work and hosted by Richard D. Wolff. The program explores complex economic issues and empowers listeners with information to analyze not only their own financial situation but the economy at large. Beyond focusing a critical eye on the economic dimensions of everyday life - wages, jobs, taxes, debts, interest rates, prices, and profits - the program also explores systemic solutions to our economy's problems including alternative ways to organize production and distribution of the goods and services we all depend on. Language: en Genres: Government, News, Politics Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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Criticizing Pro-Capitalist Ideology
Episode 13
Tuesday, 31 March, 2026
This week on Economic Update, Professor Wolff discusses the flaws in the argument that profit is an appropriate, just return to the risk taken by a capitalist who invests. The critique focuses on (1) what it means that a capitalist can withhold means of production from production, and (2) how workers, their families, and communities also take risks in any productive enterprise yet get no profits, thereby invalidating the justification of profit as a reward for risk. In the second half, he shows that technical innovations such as AI do not cause unemployment; rather, the capitalist system does. An example is offered of how AI could be installed to advantage every enterprise's majority—its employees—rather than profit its employers (a minority in enterprises). The d@w Team Economic Update with Richard D. Wolff is a DemocracyatWork.info Inc. production. We make it a point to provide the show free of ads and rely on viewer support to continue doing so. You can support our work by joining our Patreon community: https://www.patreon.com/democracyatwork Or you can go to our website: https://www.democracyatwork.info/donate Every donation counts and helps us provide a larger audience with the information they need to better understand the events around the world they can't get anywhere else. We want to thank our devoted community of supporters who help make this show and others we produce possible each week. We kindly ask you to also support the work we do by encouraging others to subscribe to our YouTube channel and website: www.democracyatwork.info
