Inflation and Labor Shortage_on Economic Update

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

Inflation and Labor Shortage
_on ECONOMIC UPDATE with Richard D. Wolff

On this week’s show, Prof Wolff talks about the social effects of inflation and the lack of accountability on the part of employers. Capitalist employers set prices with the only motive of maximizing. Employees, the vast majority, must live with inflation but are excluded from decisions setting prices. Employers scream labor shortage to get the government to force workers back to work at low wages. Employers recover from economic crashes but undercut workers efforts to do the same. How capitalism works.

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 July 12, 2021.

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