Updates on latest European Summit as attempt of top 1% to impose austerity on 99% and Michigan's parallel attempt to impose austerity on Detroit; corruption scandals at Wachovia Bank and MF Global Brokerage. Interview with Victor Wallis on ecology and economics comparing capitalist and socialist responses to environmental crisis. Response to question on implications and lessons from Lehman Brothers Bank's bankruptcy, 2008 through 2011.

On Economic Update with Professor Richard Wolff, Wolff and guests will discuss the current state of the economy, both locally and globally in relation to the economic crisis.We will focus on wages, jobs, taxes, and debts - and on interest rates, prices, and profits. We aim to explain why certain economic changes are happening and other changes get postponed

or blocked and we will explore alternative ways to organize enterprises, markets, and government policies. Economic Update is a weekly show for people who want to understand and change not only their own financial situation but also the larger economy we all depend on. 

 

To listen in live on Saturdays at noon, visit WBAI's Live Stream

 

Economic Update is in partnership with Truthout.org