Economic Update: “Lessons from Economic History”

On Economic Update Professor Richard Wolff and guests discuss the current state of the economy, both locally and globally in relation to the economic crisis. This week’s updates include a discussion of the “university is not a business,” the current attacks on the public workforce, and the bankruptcy of Stockton, CA. The major discussion focuses on learning from history of capitalism’s instability and crises. Questions answered focus on the banks, the Federal Reserve and the philosophy of labor.