The Economics Lesson Taught by the Pandemic_on Economic Update

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

The Economics Lesson Taught by the Pandemic
_on ECONOMIC UPDATE with Richard D. Wolff

On this week’s show, Professor Wolff explains where the government is respected and empowered, nations have effectively contained the Covid-19 pandemic. He gives examples including New Zealand, Taiwan, South Korea, Cuba, Vietnam, and China. Alternately, where the government is demonized, disrespected, distrusted, the pandemic has been devastating. Examples of this include the UK and the US. Wolff argues that a rational economy includes both less and more government-regulated private enterprises plus state-owned and operated enterprises according to which performs best to meet society’s needs. No fundamentalist “either/or” arguments are justified. Finally, he says how private and government enterprises are internally organized – hierarchical or alternatively democratic worker-co-op – is equally important.

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 January 27, 2021.

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