Economic Update: New Economics Institute with Clara Mattei
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- Опубліковано 9 лют 2025
- [EU S15 E5] New Economics Institute with Clara Mattei
In this week's episode of Economic Update, Professor Richard Wolff delves into the heroic efforts of California firefighters and their extraordinary work in battling the recent wildfires in Los Angeles. We also explore the progressive transformations occurring within U.S. labor unions and shed light on the escalating housing affordability crisis across the United States.
Additionally, we interview Professor Clara Mattei, Director of the newly established Center for Heterodox Economics in Oklahoma. Professor Mattei shares details about this groundbreaking initiative, outlining its goals, mission, and activities, as well as how it distinguishes itself from mainstream economic approaches.
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Professor Wolff's latest book "Understanding Capitalism" is available now for purchase: linktr.ee/unde...
The only person that can calm my anxiety is Wolf. Thank you for caring brotha 🙏
You seem confused...he's creating anxiety...which is his intended effect.
Don’t you have a railway to build or something?
@@jgalt308 room temperature IQ angloid comment
@magnusmauritz8191 replied to dopameems 's comment
He make such good sense. No fake news.
He' pretty much "fake everything"!
@@jgalt308 Stop spamming Prof Wolff bro 😂😂. Get a life.
@@neurodivtries4101 but then what would you do with your life?
Amazing Professor Mattei is doing this! I met her at TNS solidarity encampment for Palestine where I attend for my BA and she’s wonderful. Sad I couldn’t take a class with her but glad she’s doing incredible work!
Clara Mattei is so upbeat and driven to help others. Thank you for your contribution to humanity!
Thanking you for your contribution to our society Mr Wolff
I wish I'd have known Dr. Wolff had a UA-cam channel years ago 😢😢😢
Im glad I read comments, before I commented, cause I was going to say exactly what you said. I could have used this knowledge back in 2020
We've been watching this professor from the start. We're now informed Marxists! So watch out, 😂.
He has 12 years of historical and economic ignorance, which are all still available...and the evolution of continuous self-contradiction is a marvel to behold.
I‘m just curious what exactly was wrong in this video?
@magnusmauritz8191 If your comment is for J. Galt, he has no idea what he's talking about. Questions are fruitless.
Thanks!
Thanks for spreading truth and knowledge Professor Wolff!
I can't seem to find any of that...can you help by pointing out a few of each?
Democracy at work is really stepping it up. Very nice to see and very much needed😊.
What else can you expect from a socialist parasite!
The adverage adult in Oklahoma has a reading level between 3rd and 7th grade. Many of the residents represent the Lyndon B Johnson quote well. They will knowing allow themselves to be taken advantage of by voting against their own best interest! Thank you Mr. Wolf, I certainly look foward to Monday knowing I am going to receive some information that I can use.
So, public education and teachers' unions are NOT working? What use are you going to make of THAT information?
I am very very impressed by Clara Mattie. WTH in the middle of nowhere but Oklahoma lol. The state needs someone like prof Mattie to bring about change .
From here in Canada ... thanx to you both.
The Artificial Intelligence financial bubble has burst. The space bubble begins to be created and inflated. Will this political and financial technique of diverting public attention and resources from the real problems of countries never end?
Excellent!Excellent!Excellent! TY both soooo much!
Thank you professor 🙏🏼
A new dawn for economics with energetic economic theorists emerge, to serve the people. She will keep Wolff and Hudson young with mutually inspiring exchanges.
There are a lot of new economic institutions now working on alternatives to capitalism.
As long as the one percent own Congress, absolutely nothing will change for the better.
That's stupid...given the evidence, they should be looking at the correct form of government.
Finally a way that aim with great logic at economics tasks for the future who is in constant mutation. Now I feel the change of guard is on the way…. Thanks
But he ain't mutating...he's stuck in 1850.
We can fix anything but we can't fix stupid
That's why we're doomed. It's all good though. Who cares?
Why can't we fix stupid?
trump is unfixable his mind is set on draining the swamp which means KILL THE PEOPLE and destroying America is KILLING THE PEOPLE an get Rich at the same time I know a lot of trump supporter that feel like fools and are very scared of the future of this country
@@LJCyrus1 Read the comments.
I wish there was a progressive party that could champion these ideas instead of the conservative Dem party we have.
That will never happen, cause the Politicians can't steal our money America is a business, it hasn't been a country in decades
But the so-called progressive movement is what got you here!
We need more subsidized housing also !!😉
I am graduating with a bachelors in philosophy at the end of this year, I wish I could apply!
Amazing Professor Matteo is doing this! I met her at TNS solidarity encampment for Palestine where I attend for my BA and she’s wonderful. Sad I couldn’t take a class with her but glad she’s doing incredible work!
I purchased and read the Capital Order after watching Clara's interview on here. I highly recommend.
Made me very happy to hear that there will be a new center dedicated to heterodox economics. I say as a sociology professor, who would teach economics if non neoclassical economics was permitted in Econ…
Professor Wolff, here in Greece, during the huge fires, the government went a step further. In the case of the Evia Island fires, the firefighters were ordered to halt their fight against the fires and it was the men of the villages who saved their homes and animals. The firefighters had to take off their uniform and command and help out the men of the villages on how to put out the fires. Mind you that there were no strong winds involved. A few months later, wind turbines replaced the summits of our forests. Whoever is interested here is the link with English subtitles: North Evia, The Plan, english subs, "8 tenth and a report", Part 1
Thank You for another reality check. Please keep educating the American people of the reality of life in these times. Canada is a good neighbor. Leave them in peace. I'm so disgusted with what is going on.
How Dumb To Strike Thy Neighbor While He is Pulling You From A Burning Home !!!!
"If you nail two things together that have never been nailed together before, some SCHMUCK will buy it from you." George Carlin
Why is it that Americans are so complacent with everything Trump is doing to the country?
Because we saw how the democrats pulled every underhanded dirty trick they could... Time for payback...sorry
They are clueless. They have no response for this because they likely ended up believing they're own denial. They are unable to see outside of the system because they made it this way. The Democrats literally set it up so that all Trump has to do is hit a switch.
Because American mainstream media is complicit in its oligarchy and empire.
They're complacent because they VOTED for him. Just like they did in 2016!!
It's a Coup ppl.
Thanks for this information, you are doing ah excellent job as the host.
Thank you for your program.
While I identify as a capitalist, I'm a dedicated viewer of your videos and have even supported your work in the past, including buying your book. Though I may not agree with you on many things, I deeply value the perspectives you share and believe they're essential to the public discourse. I appreciate the work you and the network do, and I want you to know that you have supporters like me who may not fully agree with every point, but still admire your efforts. Much love.
Can I ask what capital you own?
@ Cash, Stocks, Bonds, Real Estate, Vehicles, Etc.
@@XtraFlyRecordsthat’s not capital or the means of production …. You are not a capitalist in the true sense but more so an apologist
@@DawTVFoodReviews Ah thank god for people like you! I am a general contractor, and build furniture on the side, not sure if that counts.
@@XtraFlyRecords no sorry you don’t own capital so just one of their apologists.
Bernie Sanders won all but two of Oklahoma's 77 counties in the 2016 Democratic primary.
Dr Wolff 🇿🇦🇿🇦🇿🇦🇿🇦🇿🇦🇿🇦🇿🇦❤️❤️❤️❤️❤️❤️
Let's hope the new economic is institute succeeds in creating an economic model based on the objective reality of the masses and hold the lucky few responsible to their roles as caretakers of the people instead of skinning them alive with inhuman hardships!
Nice Job Professor..Thank You for the information.
Great points!! Hooray for Canadian Volunteers!!! 💜🌎💟🙏
Canada and Mexico are moral countries unlike the US.
Unions should be free
Please, let's not forget about the "prisoners" that they brought in to fight the fires!!
who after being released...will not be qualified to join the Fire Dept.
5:30 "...the fire department isn't profit-oriented..."
But there ARE privatized firefighters! They protected their clients' mansions only....
You do KNOW what the word "private" means? hint: it means YOU ain't paying for it!
@jgalt308 So what's to stop ALL firefighters from going into the "private sector"? Or is missing the point a specialty of yours?
@@cpc9563 Because what the words mean is IMPORTANT! A few more relevant words here would be...supply, demand, competition, wages and benefits.
Tks. much
Great stuff!
Continue your good work.
Median is WAY different from the Average.
The average price of a new home in the United States in 2024 was $512,200, down from $521,500 in 2022.
he price of homes increased rapidly from 2020 to late 2022, which was one of the fastest increases in U.S. history.
Nice show.
Economics that actually addresses real world conditions?!? What a great idea!
Well worth watching. I like the term heterodox as we( I) believed that economics was more abstract. This combination to pursue economics to interact with all aspects of community with abstract economics is a revelation to those of us of older years
Yeah, one can see the Professor prowling the streets of Manhatten daily, interacting with the community...he's a legend.
Just like you! Oh wait, you're both here talking about "interacting with the community"...oh well, maybe someday?
Gratsia Clara(zetkin)!lei e Magnifica! bonne courage
Very informative, thank you.
Yes the end of capitalism is not the end of the human race. Bravo!! Very good🎉
If the change is to happen, it must be where capitalism and the revolution meet, THE WORK PLACE! Organize brothers and sisters!
The profit motive and absentee private property are the problems we face. True for every major issue common in our society from hunger/housing to crime/violence.
What do you think of Tim Sheehys new bill? National firefighting agency. Also, he owns a firefighting company! Might be worth looking into sir.
Actually some ultra rich people hire ultra well paid and equipped private firelighters...Duh!
Yes they do.
Great show!❤
Excellent! Thank you both.
🙏
Id like to ask a few questions about sovereign countries borrowing from other countries i think this is covered somewhat in macroeconomics courses but I dont remember my courses getting deep into that topic. Where can i email my questions since it is something many of my friends talk and ask about printing money verses borrowing. Now its trendy to say that US is so powerful it does not have to borrow it just hast to print money to run the whole economy.....
We borrow through selling bonds. That's how we paid for the ukraine war. Not taxation bond sales. China and Japan respectfully are the top 2 bond holders. What else would you wanna know im currently studying BRICS
Fantastic. So glad to hear economics is evolving. It was stagnant as hell with a bad reputation.
I wish you would have mentioned the prison labor that also contributed to putting out the fires in California.
I want the book Understanding capitalism, I'm in Colombia.
Finally. Servicing humans existance in real, now time!
Your reasoning doesn't go deep enough my friend. All the not for profit enterprises you mentioned depend on taxes collected, either through a capitalists market or a black market i.e. drug trafficking.
Talking about firefighters in California, we use incarcerated labor, which is slavery, to fight the fires. When California was told they had to release non-violent prisoners, Kamala Harris' admin fought to keep people incarcerated so we would have firefighters. To ad insult to injury, These firefighters are prevented from becoming firefighters on their release from prison.
IM A FAN OF MR WOLF ... VERY ON ☝️☝️ ☝️☝️
Could we get topic timestamps? Thank you!
Hey, CHUCKY read the comments!
Pass this on, take your cash before the crash and it will send a message
Union is the mafia 😮they collect money from you and protect lazy people 😂I have very bad experience with them 😂
👍👍👍👍👍⭐⭐⭐⭐⭐
non-profit prisons...
Capitalism is not the problem.
It is the morals of your leaders.
I would love to go back to school and learn more about economics and theory and apply it to real life and my community but the thought of paying for a masters makes me physically ill😫
Good thing I put down nearly $50k in 2022 and bought the rate down way below 5%
Soo many economists..soo many books.. so many awards..so many institutions of creative ideas..and..look at us!!🙄🤭😂
Dear Richard , I am your regular listener from Nepal. How can I receive your book.
When your dad bought his house, he paid 6 pct, pretty much a rock solid rate back then
we are An InteriLated Species!!!! we Should be Working TOGETHER!! not like some in America Believe Specifically The Right Wing Christian Evangelicas Against the World!!!! greetings from Mexico
thank you for sharing!!!
🇺🇲
Thank you for an excellent video. There is a British UA-camr, former economist and trader in City of London, who's channel is called 'Gary's Economics'. He has similar ideas to you. You are probably aware, but if not please take a look. Thanks
I made the same connection as you. Gary would be an ideal guest lecturer at the Center for Heterodox Economics. His recent video explains why wealth inequality is never even factored into the mathematical models studied at the top schools of economics in the UK: ua-cam.com/video/CivlU8hJVwc/v-deo.html
What can we do about Elon musk sezing the Treasury?
Why...there's no money there...hell, there's no money anywhere...thanks to FDR!
Thank you for highlighting this important program. Capitalism, like Trump, seems to have become a god and the sycophants don't like any criticism of it.
ripartire dal gosplan
Democracy at work, Reaaaaly ? You mean two wolves and a sheep voting on what is for lunch ?
McCain/Mattei might've carried the day back when
Of course Canada and Mexico would do that.
I don't find that this should be considered as out of the norm this is what should happen anytime there is a disaster with such a need to be dealt with. It happens when there's hurricanes it happens when there's tornadoes it happens when there's earthquakes around the world. Even long time enemy countries help each other with disasters like that. I'm Greek and I remember for a fact when they were major earthquakes in Turkey and I'm sure you know the never-ending conflicts between the Greeks and the Turks I was proud to have seen our firefighters and rescue teams go there to help. I mean in the end if you have no humanity no humility no empathy what the hell are we here for!??????
These are things that the people need to know they should be shouted extremely loudly from traditional media and everywhere else but what's truly funny to me is that when we here in America lend a helping hand somewhere else which we do It gets plenty of exposure plenty of like pride to boasted to the world but here are Canadians and Mexicans which have recently and traditionally being a little made fun of or disrespected and even in the era of Donald Trump where those things have been exponentially amplified they are here without asking for anything volunteering and fighting hard to help.
We truly need to appreciate and understand because if that doesn't give you a woman fuzzy feeling and the only thing giving you that same feeling I'm talking about is the rhetoric and the hatred that our politicians especially the new king embraces with completely stupid ignoramus and imbasilic decisions and actually he is the one loudly and almost proudly starts the whole thing. I think it's about time to look in the mirror and search deep inside if that's who we are maybe we should admit it😮😮
Professor Wolff's: I support another preppeing channel, all i had to was touch the screen, join and it gave me options of how much i wanted to donate. How do i support your channel, cause i cant find JOIN on the screen. Obviously, Im not computer savvy., so if someone can baby step me, id appreciate it.
Union still may money
People making minimum wage can't afford housing in many places in America. Many people rely on these jobs for work due to background issues. The people at the top dont get that. That's a big reason for homelessness rise. Many homeless work. It's a very hard life cycle to get out of making such low wages. It's often a stepping stone job away from better options but its very hard once in homelessness.
With unconditional property/school tax no one owns. Only different form of rent.
The firefighting help from other states are too late. In China, firefighting reinforcements from other provinces happen the very next day, not the next week or weeks. So much for democracy, freedom, human rights, and justice--all B.S.
Australia should have sent fire fighters as well It is an arrangment that USA help OZ and uses the time in OZ as Training, and OZ in USA does same. We help each other. DONT know about USA but in Australia you dont have to ask for help, Every state helps others, Civilians help,,, IT is working together that make us great
and as unions decline, no one asked, 'why?'
'why' is simple. unions are looking out for their members. not the nation.
so employers hire people who are not in a union, and fire, when they join.
there is always someone desperate enough to work for less.
if there is a cure, it is getting democracy. call it 'one big union' if democracy is too hard for you.
Go work for Amazon then.
"Unions are looking out for their members, not the nation". Who do you think are members of the union? Unions are the reason for most rights you have at your job. Just because you're illiterate of their previous impact doesn't mean that they had none.
That is factually incorrect. It has been well documented that Union Aristocrats, after 1948, looked out for the Nation in their unsanctioned campaigns overthrowing democratically elected governments in the global south; rather than looking out for their members. That, Neoliberalism, is what caused the decline in Unions. Check out "Blue Collar Empire" by Jeff Schurke. Its honestly horrifying.
For some years Unions have been accused of working for the Bosses. You should love them.
The fallacy of this assumption has been extremely well documented. The decline of Organized Labor has come from explicitly supporting the Nations neoliberal imperialist globalization campaign post 1948. Two books that go into detail about this is "New Men of Power" C. Wirght Mills and "Blue Collar Empire" by Jeff Schurke. While labor aristocrats were trying to get in to the circles of power by suppressing labor movements around the world, Union members back home were subject to concession bargaining.
2 things young Americans should be exposed to before finishing high school.
Financial Planning & Basics in World / USA Economy
The sooner you learn a bit the sooner you can apply in real life.
There are 15 million empty homes and 700k homeless people in America, building more isn't the issue. Tax empty units to bring down prices.
Why are they vacant?
Fire fighters make money. Just like home builders and realtors make money. Dumb dumb.
And for profit private schools out perform public schools badly.
American Empire is declining, egre.
Communism forever!!!!!
Ah another example of privatising profits and socialising losses
As always, profit is theft.
Damn those bees...they never stop at "just enough" honey...greedy little bastards.
Thanks!
union scam
Good unions work hard for its members. If yours isn't doing that replace them.
when was it not? The first target of the Sherman Anti-trust Act was unions!