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Welcome, friends, to another edition of Economic Update, a weekly program devoted to the economic dimensions of our lives, jobs, incomes, debts, our own and our children. I'm your host, Richard Wolff. Before jumping into the updates today, I wanted to respond to the large number of you that have sent in emails through our websites asking about Marxism and what it is and what it means and how it's changed and so forth. In response to this, beyond making comments, which I've done, I've written a small book, short book, designed to introduce anyone interested to the basic ideas. It's called Understanding Marxism. And it's our way of saying, if you're interested in that topic, please go get a copy, take a look at it, tell us what you think and what might be added to it in future. Understanding Marxism. Okay, we'll begin with three short updates that have to do with the state of California, a place where very important things are happening all across the board, more than we have the time to deal with here. But I've chosen three that give you an idea of some of these events. The Los Angeles Times is a 136-year-old newspaper famous over that more than a century of life for being ferociously anti labor. I bring that up because about 14 months ago, the newspaper reporters and workers at that newspaper voted overwhelmingly to become members of a union to be the very thing that the newspaper has tried to fight against. But in the way these things are organized in the American economy. Fourteen months later, they're still negotiating the new union and the company trying to come to a contract. Anti unionism cuts deep at the Los Angeles Times. And you can see that in the struggle that the newspaper reporters and others there are now waging. Another example, 80,000 workers at the Kaiser Permanente held health system across California voted to go on strike in October of 2019, which is not very far away, to say the least. This is an important strike. The vote of the union members on the question do we go on strike or not? Showed a whopping 98% of the workers there favoring a strike. If this strike happens, it will be the largest strike in the United States since 1997. That's over 20 years ago. That strike then involved the 185,000 members of UPS United Parcel Service. The Kaiser Permanente strike will be of that order of magnitude. That's where labor capital relations are heading. And finally, from California, as we go to press, sitting on the governor's desk in California is a bill that passed both houses of the California legislature to create a public bank. That's right. A Bank owned and operated by the state of California, for the first time, providing statewide competition to private banks, who will now have to meet that competition by providing better and more services at lower cost to the people of California. A major victory that took years of organizing to support a public bank. And it will give enormous impetus to other efforts in other states and even in some cities across the United States to set up public banking as well. Let me turn now to the automobile industry, a topic we return to often because so much of the last century of American history has been shaped around the private automobile. Let's begin this way. The private car is the largest single cause of air pollution in our society. What comes out of the tailpipe of that car is what pollutes our air more than anything else. The automobile is the largest killer of Americans in car accidents, Way more deadly than wars or any other cause. And I won't even go into the injuries that it caused. And I won't even go into the use of fossil fuel and the use of all kinds of resources to make all these cars. But it was always a most inefficient way to move people or to move produce or to move anything. The private car. It would have been much cheaper per person, per mile of transport to have a really good rail system, a really good street railway system, a really good bus system. And we know exactly how more efficient it would be because most other countries in the world rely on those systems more than we do here. And that's not because Americans are peculiar. It's because the private automobile, producing something that would sit in your garage or your driveway or somewhere most of the time, and only be used occasionally costing you a fortune to fuel it, to insure it, and to buy it in the first place. This was profitable for car companies, and that's why we have that system. It's even famous that the car companies used their profits early in the 40s and 50s to get rid of street railways, to hammer politicians so they wouldn't fund the railroads the way they once had so that the railway could be a competition. No, we have the private car because it was profitable, even though it was wasteful of resources and deadly. But now that the capitalist system in the United States is in hard times, well, you may not have noticed that if you're in the top 5%. But for the rest of us, all of that has to stop. That's why we have car sharing. Now we're going to call it a nice name because it's crazy to have the car sitting in the driveway it's much more efficient to share them. Even more efficient it would be to have public transportation. But we would have to defeat the profit driven private car companies beyond what we have done so far to get to anything like a rational way to not waste resources in moving people and objects around our society. My next economic update has to do with the growing debate in the United States over a wealth tax. The major stimulus for this has been Elizabeth Warren, and I've talked about her wealth tax proposal in the past. I'll just remind everyone here it only kicks in if you have more than $50 million. So all of you that are watching and listening, you can relax since I don't have too many people in my audience who have $50 million or more. And you will not be affected by Elizabeth Warren's proposal. But if you are possessed of 50 million or more, you would then become subject for every dollar of wealth you have over 50 million to a wealth tax. In her case, something on the order of 1 to 2 to 3%, etc. In the debate. Here's what I'm after. In the debate, conservatives have apparently had something just shy of heart attacks, of anxiety at the thought, can you believe it? That wealth might be taxed. And in their enthusiasm to knock down Elizabeth Warren's proposal. And she's not the only one. Bernie Sanders and others have also proposed wealth taxes. In their enthusiasm, these conservatives shout about confiscation. This tax will confiscate wealth. And in even greater flights of enthusiasm, they say something like the other countries have abandoned wealth taxes because they don't work and so we shouldn't go where others have retreated. This is simply stone cold false. It's not true. Never was true. Taxes on wealth, like taxes on everything else, income, sales, taxes, you name it, come and go. It's a constant fight between the rich who don't want to pay taxes and want the government to serve them, and the rest of us who likewise don't want to pay taxes and would like the government to serve us. And in that endless struggle, some taxes go up, some taxes go down, some taxes are canceled, some taxes come back. But the notion that if there is some kind of movement to get rid of wealth taxes is simply false. I don't have the time, but I'm going to read you a list of countries which you can do the research. All have wealth taxes. By the way, most of the wealth taxes that exist in the countries I'm about to list for you have wealth taxes that kick in at much lower amounts of money than Ms. Warren's 50 million. So they affect many more people. Argentina, Canada, France, Spain, the Netherlands, Norway, Switzerland. All of them have wealth taxes, and most of them have wealth taxes that would go after much more wealth than Elizabeth Warren. So the statement that other countries have given up or don't use this, that's simply false. Are there some countries who have given them up? Yes, there are countries who gave them up and then brought them back. There are countries who had them and then got rid of them and then brought them back. The point is to understand that taxes are an object of contestation between the rich and the poor. Those that capitalism gives a lot of money to don't want to pay taxes. And those that capitalism doesn't give a lot of money to. Guess what? They don't want to pay taxes either. So they fight it out. And if you're not aware of that fight, it's only because you haven't been paying attention. And don't be fooled by people who suggest to you that taxing wealth is something odd or unusual. It isn't, and it hasn't been for a long time, except in the United States, where we allow big chunks of wealth to be taxed only on the income they generate, not on the wealth itself. Next update has to do with a new book. The book was written by Stephen Greenhouse. He's the New York Times reporter on labor issues and has been for a long time. The title of his new book is Beaten Down Worked the Past, Present and Future of American Labor. I like the book in many ways. It is an argument that he makes, and he makes it well. Lots of information, lots of facts, that the decline of the American working man and woman, the loss of real wage increases now for 40 years, the worsening of working conditions, the loss of benefits, has a great deal to do with the decline of the labor movement, the shrinkage in the number of people who are members of a union, that startling statistic, I cannot repeat often enough that something on the order of 7% of the private labor force in the United States, which is the biggest part of our labor force, is in a union. The other 93% are neither in a union nor represented by one. Everything that he does in that subject I think is valid, a very powerful point about what the crushing of unions in this country has meant. But he leaves something out, and I want to comment on that. Why were unions so much weaker? Why was it possible for the business community using the government often to weaken labor so much in the last 70 years compared to the power of the labor movement shown in the 30s, the 40s, and even into the 50s. The answer to that question doesn't show up in Mr. Greenhouse's book. It was the anti socialist and anti communist purges of the late 1940s and 50s, systematically by law and by practice of the government and business. Everyone who was a socialist or a communist was hounded out of the labor movement. Whole unions were expelled from the AFL, CIO, etc. Etc. This destroyed the most militant people in the labor movement, the people who gave their lives to it, the people who deeply believed it. Were they socialists and communists? Sometimes. But they were the best people most unions had. And when you expelled them, you deprived the unions of one of their strongest groups, one of their strongest leaderships, their militants, and it tarred the labor movement. It made them nervous about having left wing people of any kind join the unions and that has hurt them and deprived them of militants ever since. That should have been part of the story well, we've come to the end of the first half of Economic Update. I want to remind you please to subscribe to us on our YouTube channel democracy @ Work. It is an important way of supporting what we do. It helps us in countless ways and it's simply a button press. For those of you that are watching and listening, I also want to ask you to make use of our websites democracyatwork.info and rdwolff with two Fs com. Through those websites you can communicate directly to us, follow us on Facebook, Twitter and Instagram. And finally, mostly, we want to appreciate the Patreon community that supports us and whose enthusiasm and commitment is what keeps us going as much or more than anything else. Thank you Patreon. Again, please stay with us. We're going to have an intriguing interview right away. Welcome back friends to the second half of Economic Update. For today, it is with great pleasure that I introduce you to my guest, Michael Brooks. I've been on his show and it's long overdue for him to be here on mine because he's doing something which in some ways is like what we do on Economic Update, but is also different and represents the growing number of podcasts, radio and television shows that are approaching what's going on here in the United States and indeed in the world from a not conservative or right wing perspective. Something very different and something important in Michael's case. He is the host of the Michael Brooks show, co host of the Majority Report, and is an upcoming author of a zero books. Yeah, I've got that right publication. So Michael, welcome to the.