Economic Update: The Financialization of US Capitalism

Economics Professor Richard D. Wolff and guests discuss the current state of the economy, both locally and globally in relation to the economic crisis. In this week’s show, Wolff provides updates on the extreme budget crisis and the cuts being made by state governments, on how the government is raising interest on student loans from 3.4 to 6.8 %, and on Argentina’s take-over last week of the private Spanish oil company that dominated its oil and gas industry. In addition, Wolff interviews economics professor William Tabb about the financialization of US capitalism and its economic and social consequences, followed by a discussion of “family values” and economic planning in the US.

Economic Update is in partnership with Truthout.org.