Economics Professor Richard Wolff blames austerity for the problems of forced food disposal; redefines ‘demand’; romanticizes thuggery

August 26, 2012

What I look like when I listen to Richard Wolff’s ‘Economic Update’.

I love UMass economics professor emeritus Richard Wolff’s podcasts because they challenge me to think in ways that I normally wouldn’t. Consider these snippets from his broadcast of August 11, temporarily available for download at WBAI.org. The first quote begins at 4:26 into the broadcast:

[First, the story from the town of Girona in the north of Spain.] They are in the news this week for having decided to padlock the bins that the city has all around supermarkets. Read the rest of this entry »


Backlog O’Links for August 30, 2010: Old stuff that’s not even newsworthy anymore.

July 25, 2010
  1. World Socialist Party (US) | Making Bread

    Daryl Larson, who farms 1,500 acres in Kansas sold nearly half of his wheat crop but will keep the rest in the silo in the expectation that the prices will at least climb further. Most analysts would concur with Mr Larson’s strategy of holding on to some grain for added profit. The [Socialist Party of Great Britain] only asks: why do some in this world face destitution and hunger, while others hoard food to obtain higher profits?

    Farm subsidies complicate the issue, but the simple answer is: Daryl Larson, the producer of the food, has the perfect right to do anything he pleases with it. He was under no obligation to make the food. Similarly, he is under no obligation to distribute the food. If Mr. Larson were forced to sell his grain at prices he did find agreeable, he probably not stay in the wheat business for very long.

    If we added farm subsidies into the mix, then, depending on why the subsidies were paid in the first place, there could be a basis upon which to demand that Mr. Larson make some concessions to taxpayers….

  2. AFL-CIO NOW BLOG | Public to Lawmakers: Tax the Rich1) Aren’t you glad that the public has no authority to confiscate and redistribute your private property?? 2)Never trust anyone who classifies tax cuts as ‘spending’. 3) This article quotes labor secretary Robert Reich who believes that the ‘fundamental cause’ of the financial crisis is wealth disparity. If not for wealth disparity, the argument goes, Americans would not have needed to borrow so much. I’ve never heard this one before…  Read the rest of this entry »