Economic Update: Resurgent Labor Organizing In The South

[EU S14 E13] Resurgent Labor Organizing In The South
This week’s Economic Update Professor Richard Wolff discusses the US Treasury Department charges Apple as monopoly, Georgia's state government sides openly with employers against unions, two union members decide to enter important elections as independent voices in Nebraska and West Virginia, and a critique of the FED's policy that keeps inflation and interest rates high. Finally we Interview Mike Elk, publisher of the Payday Report, on his views regarding the important UAW fight for union recognition at VW plant Chattanooga, TN.
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The d@w Team
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[@user-sr8km8zi6s]

Happy Birthday from France Professor Wolff! Thank you for your smart and enlightening work !

[@littlestone1541]

Happy birthday professor! 💐🍻

[@vivalaleta]

Unions are very good but employee ownership is fantastic.

[@serafinacosta7118]

True but not infallible. Go study the demise of VARIG , an employee owned defunct Brazilian airline.

[@vivalaleta]

@@serafinacosta7118 Nothing's ever perfect. We're moving to the Rust Belt where family lives and when I said how terrible it was the company sold the workers out they said it would have failed anyway. I said maybe but those workers would have fought tooth and nail to keep it there.

[@AB-bh6rb]

Richard has become one of my favorite people in a very short time. Integrity and smarts. Whats not to like about the guy?

[@urimtefiki226]

Happy birthday Professor Wolff I wish you health!

[@saveriofalcone66]

Thank you for sharing about unionism in the South of the US. Myke brings a fresh insight perspective from the real people's problems. From Europe, we look at you to really see what are the people's worries there and see that we are all brothers. That is, we are United. Hearing about a change of mentality is what we need in the Western countries to grow in common stronger. No division.

[@insomniac2007]

Happy Birthday, Prof Wolff!!!

[@urimtefiki226]

Thank you for simplifying the explanation in simple words.

[@pedrolopes3377]

Happy birthday Professor! 🍻👏🏼 Thank you!

[@vivalaleta]

What a terrific guest. I look forward to hearing more from him.

[@stevemora7845]

Happy Birthday to you Prof Wolff!!! 🙌🎂🎉🎈

[@dylannaenzo9737]

Happy Happy Birthday, Richard Wolff!! May you continue to enjoy good health and true happiness. Hugs to your wife, too. I am a socialist and I love socialists. But I'm stuck in this crony crapitalism, and I can't get out.

[@tomover9905]

Good pt regarding black workers being a major unionizing force. We need multiracial, multicultural coalitions against plutocracy

[@ZoeYousefi]

Happy Birthday Prof Wolff! With Best Wishes! Wow, thank you for impressive work!

[@diagorasofmel0s]

Happy Birthday prof Wolff !

[@DCastro9mm]

Yay.. I'm so glad to know Mike is connecting the labor movement in our continent ..🇧🇷🇺🇲🚩 and Happy Birthday to our strongest link in the chain Professor Wolff 🙏

[@brianwheeldon4643]

Thanks Prof. Wolff

[@tomover9905]

Good one, Mr Wolff. Thank you. We need a early to mid 21st Century labor movement.

[@jasoncuculo7035]

Happy Birthday Professor Wolff

[@thomasduggan8755]

Best wishes from Manchester Old England great show everybody keep up the good work ❤️ CARPE DIEM PAX VOBISCUM AMEN ❤️

[@severdislike4222]

A belated happy birthday to you Professor Wolff! Thank you for all the work you do to get people started down the path of understanding Marxist traditions.

[@csm.andrew]

Interesting developments from the People’s Republic of Chattanooga

[@jefferystrong6852]

Heaven forbid workers have a hand in their own destiny.

[@michaelmundy5754]

Belated Happy Birthday Professor Wolff!!!

[@joecool3332]

Dennis Kucinich is running for Congress in Ohio as an indy.

[@rabbitcreative]

That's a name I haven't heard in a while. Thanks for sharing.

[@accordionthief]

I'm in Texas and many of my Starbucks workers are minority or mixed. Please be more gracious Señor guest with our excellent organizing efforts.

[@Rebekah347]

Brilliant news. Thanks to Dr Wolff and the whole team.

[@user-sz1rk1jj8j]

Love this show ❤

[@skibum4cy]

Happy Birthday from Cebu, Prof Wolff! Keep educating, informing, & inspiring us all to expect & demand better...The Sickness Is The System!! :)

[@karlmao21]

Warmest greeting to your birth date professor ,many thanks for your service .

[@malone7655]

Hallelujah!!!! The daily jesus devotional has been a huge part of my transformation, God is good 🙌🏻🙌🏻🙌🏻🙌🏻🙌🏻was owning a loan of $47,000 to the bank for my son's brain surgery (David), Now I'm no longer in debt after I invested $12,000 and got my payout of m $270,500 every months,God bless Chloe Linda Henderson🇺🇸🇺🇸🇺🇸..

[@Yusuf-di8cw]

Hello how do you make such monthly ?? I'm a born Christian and sometimes I feel so down 🤦 of myself because of low finance but I still believe in God.

[@eugen-pr6lg]

Thanks to my co-worker (Alex) who suggested Ms Chloe Linda Henderson.

[@GerwigMcgraph]

Hallelujah God is still working wonders,I place myself in position for such miracle.The best thing I've seen today on KZbin thanks a lot..

[@TurlaGarrington]

Yeah,253k from Ms Chloe Linda Henderson, looking up to acquire a new House, blessings.

[@Candy-ud1th]

Please can I sign in from Australia ,is it possible?

[@9JamieRenee]

Another great video, thanks! I think the market is over-heated. And I am concerned that people are focusing less on fundamentals and just chanting the mantra of dollar cost averaging and driving the market higher without considering fundamentals. It is a catch-22 for me. I mean I like stock prices going higher but I also hate buying over-priced stocks and ETFs. Personally, I have stopped buying growth ETFs- they are ridiculously over-valued. Dividend stocks and ETFs are a little better but they are still over-valued. There is some hope with small and mid caps. I am not sure they are undervalued but at least they are less over-valued..This pattern offers a valuable insight for strategic planning. Despite these trends, i have delve deeply into active trading and managed to grow a nest egg of around 100k to a decent 732k in the space of a few months... I'm especially grateful to Linda Wilburn, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.

[@9JamieRenee]

She's often interacts on Telegrams, using the user-name.

[@9JamieRenee]

@Lindawilburn

[@0YinYang]

I appreciate the professionalism and dedication of the team behind Linda’s trade signal service.

[@Claraburch]

Trading with an expert is the best strategy for beginners and busy investor s who have little or no time to monitor their trades.

[@Wesleygriffin1]

Always backup your trading with a good strategy.

[@bharatichaudhari]

HBD, Prof Wolf sir

[@gobeyondaj]

Happy birthday!

[@angelicafrancisco3943]

Thank you so much , very important show .

[@edwardcloonan3596]

Mike Elk - he is a premier working class guy who clearly sees our classed based race based prejudice in our institutions . The union movement is fortunate to have him as such an articulate advocate.

[@falsificationism]

Go Charlie, go Charlie!

[@skettisauce4651]

As a tennessee resident, I have never been more proud of my state

[@msy72112]

As the US government continue to run massive budget deficits, no wonder inflation is not coming down.

[@The1Elcil]

money is fake. printing has nothing to do with monetary effects. Rich people raise the prices. There's your inflation. It's called profit.

[@kp6215]

I remember the vote in TN for years because since internet I constantly read.

[@tomover9905]

Shrewsbury WVA, will check out. Thank you

[@tarmotyyri6733]

🇫🇮❤this channel.

[@williamblack4097]

I would like to see an interview with Socialist Equality candidates Joseph Kishore and Jerry White. The public would get a whole different perspective about the problems with the UAW and the AFL-CIO unions in general.

[@rap36case]

Where are professors teaching about Co-ops, labor, and socialism?

[@nancyhirsch7768]

First off, Happy Birthday Prof Wolff! Secondly so Rivian is trying to set up shop in Georgia? I was a transportation planner in Normal IL and their workers were talking about unionizing a year ago. That little Town went through a lot of hoops to attract and set up that company and stayed with it through massive upsets. So much for investing in and loyalty to Normal.

[@dancor8380]

Check out the mountain bike slope style strike🤔

[@anthonyvasquez486]

I saw a 9yr old video of yours about democratize the work force - that's actually a good idea - has it been tried? How is that battlefront doing? Someone has had to of tried it - its got my interest - it may be the answer to bring the Star trek life to reality - and a idea about the current situation about American Dept - shut it all down except what's necessary and pay the bills - never been done except the depression era - i think?

[@jgalt308]

@@ministryoftruth8090 So, copying what has already been done? All that's missing is the details. This does not seem to be a reflection of the...The workers decide what to produce, when to produce, how to produce, and what to do with the profits. Citing total revenues doesn't really tell you anything...nor does it explain what benefits the "consumer" receives. And while you might be a worker/owner, you can never transition to being an owner...so what is the escape plan? All that's missing is the details.

[@leroitiaks]

As long as US unions continue to benefit from imperialism in the US, they will never truly struggle to achieve broader gains and therefore will remain isolated and weak. Remember the last line of the Communist Manifesto: Workers of the World, Unite! Sadly, US (and western) unions have forgotten this critical call and believe they can achieve sustainable gains just by focusing on they small (petty) demands.

[@The1Elcil]

aww.... my comment was erased (sadface)

[@williamblack4097]

I agree , and can you believe this guy is singing the praises of Biden , who stopped the railroad workers strike.

[@dannydenison6253]

❤

[@plau2007]

What about labor movement in China? Maybe prof. Wolf will discuss the 996 working concept?

[@bernardheathaway9146]

🎉🎉

[@rap36case]

Will it make a difference in the coming elections?

[@improvisedsurvival5967]

Can’t organize in red right to work states

[@craigzdyb390]

Auto union workers betting on an EV line remaining open???

[@comradeweismann6947]

Comments for the algorithm

[@sicilianknicca_mickygreeneyes]

i wouldent count on it black and whites the two main economic workers still dont much care for each other and that divides them as intended

[@SantillanCarlos]

These unions should talk with mexican "real" unions in order not to create an unbalance that may be counterproductive

[@theskepticai3653]

Chad-tanooka

[@Nemesisnxt]

The Nixon wage and price controls were disastrous. Are you for real?

[@anneclarke1598]

Rfk is an Independent candidate .Cornell West is not independent hes on a lead

[@TennesseeJed]

Go Chattanooga Tennessee, ya bunch of socialist!😜

[@getshrekt92]

People's republic of Chattanooga mentioned

[@cme1713]

Isn't Billions of tax payers dollars given to Corporations is SOCIALISM?

[@q__________]

🤍

[@SkipKiplinger]

hope everyone here is enjoying their poverty

[@kp6215]

Not really but I have watched chemical industry destroy the planet for all species that began start of 20th century that all species shall be harmed because laws allows all chemicals unless proven bad yet the company won't pay to do safety and neither do the leaders for the STATE because the company bought the State ask George III of Britain because he put that into overdrive for profits above humans.

[@randallwittman2720]

Unions in the south?? Not likely. As long a unions are asamsociated with civil right and dem party, not likely

[@chuckbog]

such a hack

[@limitisillusion7]

Sorry jgalt, I've beaten you to it this week. It's my turn to copy/paste nonsense. Professor Wolff schools Lex Fridman on economics and how he would run a business, or how he thinks business should work, or.....????? ( substitute AI for the "machine" and this is a repeat of today's attempt sans a few details ) The following was an excerpt from a three-hour interview with Lex where Wolff offers the following example of his understanding of all of the above and titled "Why Capitalism Fails." An employer hires 100 employees as labor to produce "whatever", for $100 and then spends another $100 on the materials the production requires. From this, he receives $20 profit and repeats the process. He then purchases a machine that replaces 50% of his workforce...so he does. Wolff disapproves of this as labor is always exploited ( except in the case of Mr and Mrs Smith who agree to sell their business to their employees ) and he suggests that all the employees should be retained at the same rate of pay, while only working half the hours. ( because labor is 100% responsible for what is being produced. ) This is similar to "other examples" he has offered in his attempt to sell the "democratically run workplace where the "employees" decide what to produce, when to produce, and how to produce as well as what to do with the profits." Now this example is completely flawed and so detached from reality that it is impossible to take it seriously...except on this site. ( echo chamber ) So I leave it to YOU, to decide whether to attempt to defend this idea or see how many flaws you can find pointing out a singular one that as an "existing business" all that what to produce stuff has already been determined, as it would be for any "existing business". Will those who have been "brilliantly educated" by the Professor respond with anything intelligently relevant or substantive? We shall see. *For those with reading comprehension difficulties. Your mission, if you decide to accept it, is to analyze the scenario presented by the Professor and to determine if it is a viable strategy. What are the prospects for its success? Does it provoke questions regarding the elements offered? It should be noted that while the example is suggestive of Wolff's co-op model of a democratic workplace in his alternative solution to firing the replaced workforce, the example itself is the standard, employer owner, employee worker that is the current capitalist structure. Thirteen attempts...still waiting... , falsify it... or question it. ) it is absolutely mystifying that NO ONE seems capable or willing to choose any of them. The single relevant response raised the point that Wolff didn't anticipate the replacement of the machine, and while true, it does jump the gun in terms of many other things that should be of more immediate concern.

[@jgalt308]

It is called plagiarism, it's both incomplete and incorrect, and you have failed to demonstrate that there is any nonsense involved. This could be accomplished by completing the analysis requested which none of the #M2/WI/FI's here have yet to dare to attempt.

[@timc1604]

😂

[@clarestucki5151]

It's enlightening and revealing to hear Wolff admit that almost all entrepreneurs (employers) are limited in what they can charge for their products by the fact that they always face competition in the free market. How many gawdam times have we heard the same guy claim that 'inflation' is always caused by "greedy employers" raising prices at will???

[@jgalt308]

But none of the "I am a victim choir" will ever acknowledge hearing that self-contradiction. Or the fact that the claim that rationing during the 40's, and wage and price controls in the 70's stopped inflation is false. Or the fact that if employers raise prices because they can, why did the price of the commodities produced by the "robber barons" all FALL precipitously...as these "trusts" were "monopolies" and had no competition. While it is TRUE that they are victims, this is a result of their own ignorance, and their failure to accurately identify the "source" or "cause" of it. Clearly, they are attending the wrong church, it is on fire, and being blissfully unaware, they are still singing.

[@curious-relics]

Where did he say that? Wolff said that competition leads to persistent monopoly/oligopoly, and that's who raises prices (not scrappy entrepreneurs). His example was Coke & Pepsi. But there are dozens more... Kroger. Target and WalMart. Microsoft & Apple. Google & Facebook. Boeing and Airbus. Comcast and AT&T. "Healthy competition" inevitably leads to no competition.

[@jgalt308]

See, no memory, no knowledge, and they still have no clue what any of the words mean.

[@clarestucki5151]

@@curious-relics He said that REPEATEDLY all thru the 4 yrs following the Covid 'stimulus' Debacle. And to your comment Re "monopoly/oligopoly", he's on record for stating "monopoly causes competition, and competition causes monopoly", the single most stupid declaration ever made in the history of the science of Economics!!

[@The1Elcil]

Economics is a science now? LOL Here is a math problem for you to solve... How can profit and inflation be up at the same time?

[@outkast40]

This industry can't support unions anymore. Your looking at highly paid Unskilled Auto Workers that demand more than skilled automotive technicians . We have a huge shortage of Auto Technicians . They can't keep up with these poor quality vehicles.

[@jgalt308]

Professor Wolff schools Lex Fridman on economics and how he would run a business, or how he thinks business should work, or.....????? The following was an excerpt from a three-hour interview with Lex where Wolff offers the following example of his understanding of all of the above and titled "Why Capitalism Fails." An employer hires 100 employees as labor to produce "whatever", for $100 and then spends another $100 on the materials the production requires. From this, he receives $20 profit and repeats the process. He then purchases a machine that replaces 50% of his workforce...so he does. Wolff disapproves of this as labor is always exploited ( except in the case of Mr and Mrs Smith who agree to sell their business to their employees ) and he suggests that all the employees should be retained at the same rate of pay, while only working half the hours. ( because labor is 100% responsible for what is being produced. ) This is similar to "other examples" he has offered in his attempt to sell the "democratically run workplace where the "employees" decide what to produce, when to produce, and how to produce as well as what to do with the profits." Now this example is completely flawed and so detached from reality that it is impossible to take it seriously...except on this site. ( echo chamber ) So I leave it to YOU, to decide whether to attempt to defend this idea or see how many flaws you can find pointing out a singular one that as an "existing business" all that what to produce stuff has already been determined, as it would be for any "existing business". Will those who have been "brilliantly educated" by the Professor respond with anything intelligently relevant or substantive? We shall see. *For those with reading comprehension difficulties. Your mission, if you decide to accept it, is to analyze the scenario presented by the Professor and to determine if it is a viable strategy. What are the prospects for its success? Does it provoke questions regarding the elements offered? It should be noted that while the example is suggestive of Wolff's co-op model of a democratic workplace in his alternative solution to firing the replaced workforce, the example itself is the standard, employer owner, employee worker that is the current capitalist structure. Fifteen attempts...still waiting... xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Given the "choices" available in response to this "education" by the Professor...( defend it, falsify it... or question it. ) it is absolutely mystifying that NO ONE seems capable or willing to choose any of them. The single relevant response raised the point that Wolff didn't anticipate the replacement of the machine, and while true, it does jump the gun in terms of many other things that should be of more immediate concern. In short, if nothing else, the example begs many questions, and yet not a single one has been asked. Here are a few. The professor neglected the "machine" entirely. What did it cost to buy? What does it cost to run? Maintain? Operate? Given the suggested solution...these costs would have to be covered by the profit of $20, since all of the employees are to be retained, for the same cost. Yet despite this, the professor has assumed that the "profit" would increase. ( just as he assumes that "business" always produces a profit. ) Also, given the example and solution, we must conclude that all the "employees" are doing the same job...since they are all being retained, and are now working 4 hrs/day. If this were true, the a simpler solution would be to add a second 8 hr. shift and even a third, adding another 50 jobs, and tripling whatever the assumed profit would be. Of course, if they are NOT doing the same job, then the 50 being replaced by the machine would not be capable of replacing anyone. Another question is that since these employees are involved in manufacturing the product, the $20. profit also includes the "owners" work...that would involve securing a constant supply of the resources needed, as well as, the marketing and sale of what is being produced. Given the evidence, it does not seem that the Professor understands what is involved in actually running a business, nor do those supposedly being "brilliantly educated" by him. This result should raise DOUBT about the prospect of the "democratically organized co-op" where the employees decide, what, when, and how to produce and what to do with the "profits". That they would be capable of producing "anything" at a profit is as absurd as the claim that this "lesson" is one that demonstrates "Why Capitalism Fails."

[@The1Elcil]

You say... "Now this example is completely flawed and so detached from reality that it is impossible to take it seriously." but you fail, as usual, to support your claim. Like a good servant of capital, you worry about "profit" and this is where your feeble minded attempts fall short. With "democracy in the workplace" there is NO NEED for profit. I know you don't get it. I know you do not understand. As usual I will leave you with this to consider, you are working and that makes you an exploited worker. It's time to come to terms with reality, Mr. Galt.

[@jgalt308]

@@The1Elcil And you failed to complete the analysis or respond to the unanswered questions the scenario doesn't address. But since you seem to like asking questions, if economics were a science, its first principle would be that all "life" requires producing a profit to survive. So it would seem that it is your claim, that democratic workplaces don't require a profit, that is unsupported. This might be true, if your work produced the requirements to survive directly, but unless you overproduced what you needed and stored it as "profit", the first adverse event would bring your work and your life to an end. Of course, being "democratic" you could always vote who should be killed and eaten and keep doing it until the next time you actually produced a crop...maybe then, the idea of needing to produce a profit ( surplus ) would have made an impression. This is such a simple truth that it shouldn't have to be explained...but it is a consequence of not actually knowing what the words mean...and you clearly don't. BTW the "capital" is fake too and has been since 1934 and inflation has been constant since. Also, in so far as government is concerned "profit" and "inflation" are not related...after all, your taxes are not reduced because inflation has decreased the purchasing power of your fiat currency. You could also earn record profits, be taxed accordingly, yet when those profits are adjusted for 'inflation", that profit, could be an actual loss, and the taxes paid on it would increase that loss further. ( the 70's provide an excellent example of this. ) The professor has also used this example to explain how inflation affects wages, turning what appears to be an increase into a loss. He just ignores the fact that his example applies to EVERYTHING not just wages...and all the problems he blames capitalism for, are caused by government. ( an unconstitutional, criminal, authoritarian tyranny. ) But thanks for sharing...although in your case and the professors, it's really a bad habit and you should stop.

[@paul5434]

Please check this out the Khazarian Mafia the God eaters Chuck Swindoll part 1 and 2 thanks.

[@neiljeffers4746]

NJ USA 1958-76 1977-2023 2023-