Capitalism’s Worst Nightmare_on Economic Update

Every Wednesday at 11am Pacific – 2pm Eastern – 19:00 GMTEconomic Update

Capitalism’s Worst Nightmare
_on ECONOMIC UPDATE with Richard D. Wolff

On this week’s show: what major social changes will flow from today’s combination of major economic crash and the viral pandemic (capitalism’s worst nightmare)? To answer, we consider how European feudalism changed after its 14th century combination of economic decline and the bubonic plague. The two big changes then were (1) switching from a decentralized to a strong state, monarchical feudalism and (2) transition from feudalism to capitalism. The two big parallel changes now are also (1) switching to a strong state capitalism and (2) transition from capitalism to a worker-coop based economy.

Each show wraps up with Professor Wolff answering some questions that he receives through his website or on Facebook. Economic Update is in partnership with Truthout.org.


This show was broadcast on November 4, 2020.

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