Podcast Summary: Economic Update with Richard D. Wolff

Episode: Mass Media: the Critique
Date: December 2, 2016
Host: Richard D. Wolff
Guest: David Barsamian

Episode Overview

In this episode, economist Richard D. Wolff explores the pervasive influence of mass media on public discourse, the failures and structural shortcomings of mainstream (corporate) media, and the essential role of alternative media in a functioning democracy. The discussion with guest David Barsamian—founder of Alternative Radio and veteran alternative media producer—delves deeply into media consolidation, the limitations of public broadcasting, the unique opportunities and dangers presented by new media, and the role media played in Donald Trump’s 2016 victory. The episode also connects these media critiques with broader themes of economic justice.

Key Discussion Points & Insights

1. Economic Updates and Context (00:00–29:20)

• Bob Dylan’s Protest as Social Commentary (02:05)

  • Wolff discusses Bob Dylan’s refusal to partake in Nobel Prize and White House events, connecting Dylan’s “Maggie’s Farm” lyrics to contemporary economic and societal discontents.
    • Quote (reading Dylan): “I got a head full of ideas that are driving me insane / It’s a shame the way she makes me scrub the floor / I ain’t gonna work on Maggie’s farm no more.” (04:05)

• Worker Cooperatives: John Lewis Partnership in Britain (12:10)

  • Wolff outlines the structure of Britain’s John Lewis Partnership as an example of an employee-owned but not truly worker-controlled cooperative.
    • Emphasizes the importance of worker participation, profit shares, and the contrast with U.S. models.

• Cuba’s Economic Breakthrough and Fidel Castro’s Legacy (17:47)

  • Upon Fidel Castro’s death, Wolff notes Cuba’s defiance against U.S. economic dominance and highlights Justin Trudeau’s respectful statement:
    • Quote (Trudeau): “Fidel Castro was a larger-than-life leader who served his people for almost half a century… A legendary revolutionary and orator…” (20:38)

• Economic Impact of Deporting Immigrants (23:42)

  • Wolff responds to Trump’s deportation plans, discussing the underlying economic role of undocumented immigrants, the potential fallout of mass deportations (reduced consumption, business closures, tax revenue loss), and emphasizes the contradiction of the richest 1% targeting the poorest.

• Trump–Deutsche Bank Relationship (27:36)

  • Explains Trump’s deep financial ties to Deutsche Bank, its ongoing legal troubles, and the conflict of interest with Trump’s presidency.
  • Raises concerns about regulatory leniency due to Trump’s connections.

• Corporate Tax Cuts and Offshore Profits (27:45)

  • Demystifies claims about how bringing corporate profits back to the U.S. would benefit the public, describing this as a “bad joke” that has been tried before with little public benefit.
    • Quote (Wolff): “All that will happen if they lower the income tax rate on corporations is that they may indeed bring the money home, but it'll just be an accounting process.” (28:45)

2. The Critique of Mass (Corporate) Media (29:20–36:14)

The Toxic Influence of Corporate-Controlled Media

• Role of Corporate/Alternative Media (31:37)

  • Barsamian calls corporate media a “critical public health issue” and points to their “toxic waste” of information.
    • Quote (Barsamian): “The alternative media really address a critical public health issue and that is the toxic waste that is generated by corporate controlled media.” (31:40)

• Corporate Profit Motive Distorts Public Discourse (33:52)

  • Corporate consolidation (from 50 to 4–5 media corporations, per Ben Bagdikian) severely narrows the range of viewpoints and prioritizes profit over public interest.
    • Quote (Barsamian): “The corporations that control the mainstream media, so-called, are dedicated to one thing only and that is to maximize profit. That’s what they’re about. That’s in the DNA of capitalism.” (35:44)

• Public Media Co-opted by Elites (37:37)

  • Barsamian criticizes how NPR/PBS did not live up to their founding ideals of being a “forum for controversy and debate,” due to funding insecurity and political pressures.
    • Quote (Barsamian, from Carnegie report): “Public radio and TV...should be a forum for controversy and debate and should provide a voice for those in the community who may otherwise be unheard.” (37:50)

3. The Economic Logic of Media and Its Consequences (36:14–44:05)

• Media’s Profit Motive vs. Informing Citizens

  • Wolff highlights the conflict of interest: “when and if there’s a clash between informing people of something they need to understand and damaging the profitability of the enterprise, we know which way that decision will be made.” (36:14)

• Systemic Media Failures

  • Barsamian: alternative media diagnose problems, but need more solution-oriented approaches.
  • Corporate media provide “mass distraction.”
  • Young people recognize the failure and seek alternatives.

4. Opportunity and Danger: The New Media Landscape (41:58–45:35)

• The Internet as Double-Edged Sword

  • The digital era provides wider access to alternative voices and criticisms previously kept off the air; however, misinformation and lack of vetting pose dangers.
    • Barsamian warns: “We have to be cautious. I think we’re in a very dangerous moment where that kind of media can overwhelm the discourse. And the right wing in this country has understood the importance of dominating and controlling microphones and controlling the discourse.” (43:36)

• Need for Systemic Change

  • Echoes the call for focus beyond individual “bad apples” to “rotten barrels”—the underlying capitalist system, especially necessary in the context of climate change.

5. Media, Trump, and the 2016 Election (45:35–51:25)

• How Media Enabled Trump (46:21–49:51)

  • Trump manipulated corporate media for “hundreds of millions” in free publicity by leveraging attention-grabbing stunts and statements.
    • Quote (Barsamian): “Trump played the corporate media in particular, like a violin. It was a masterful performance. He knew that they were interested in ratings… Trump may be very bad for the country, but he was great for CBS. Why? Ratings were going through the roof.” (46:23–46:43)

• Profit Trumps Democratic Values

  • Wolff: “the profit motive trumped… your role as a citizen in deciding who gets the attention, who gets the visual exposure to the mass of people.” (48:47)

• Image and Visibility in a Celebrity Culture

  • The media's focus on ratings and image helped Trump more than Clinton, despite her higher campaign spending.

6. The Challenge for Alternative Media Under Trump (49:51–56:44)

• Exposing Hypocrisy/Fascist Tendencies

  • Discussion of Trump’s appointment of ex-Goldman Sachs bankers and billionaires, epitomizing the merging of corporate and state power.
    • Barsamian draws a parallel to Mussolini’s classic definition of fascism (“the wedding of corporate and political power”), warning: “that is a very dangerous situation. And yes, I will use that term, fascism.” (52:53)

• The Necessity of Alternative Media’s Role

  • Quote (Barsamian): “It’s up to us in the alternative media to point out these contradictions and absolute, I mean, raging hypocrisies that go on.” (51:45)
  • The Carrier deal as an example of corporate extortion disguised as job-saving policy; mainstream media likely won’t cover its underlying economic impact, but alternative media must.

• Call for Persistence and Economic Justice Focus

  • Barsamian references Gramsci (“pessimism of the intellect, optimism of the will”) as the attitude for independent journalists and activists facing challenging times.
  • Quote (Barsamian): “We have to keep talking about economic justice, about equality, about fairness…when you talk about these issues…we want economic justice in this country and that we have to focus on relentlessly.” (56:29)

Notable Quotes & Memorable Moments

• On Corporate Media’s Purpose:
  • “The corporations that control the mainstream media…are dedicated to one thing only, and that is to maximize profit.” – David Barsamian (35:44)
• On the Narrow Range of Discourse:
  • “You see a range of opinion expressed on economic issues…from A to B rather than from A to Z.” – David Barsamian (39:53)
• On the Collapse of Public Media’s Promise:
  • “They were supposed to be non-commercial. But from the beginning it was manipulated by politicians…who felt threatened…” – David Barsamian (38:20)
• On Media's Role in Trump’s Rise:
  • “He [Trump] knew that they were interested in ratings…Trump may be very bad for the country, but he was great for CBS.” – David Barsamian (46:40)
• On the Dangers Ahead:
  • “That is a very, you know, dangerous situation. And yes, I will use that term, fascism.” – David Barsamian (53:01)
• On the Mission of Alternative Media:
  • “We have to keep talking about economic justice, about equality, about fairness.” – David Barsamian (56:29)

Timestamps for Key Segments

• 00:00 – 12:10: Opening news, Bob Dylan’s song as modern labor critique
• 12:10 – 17:47: Worker co-ops and John Lewis Partnership
• 17:47 – 23:42: Cuba’s economic legacy, Castro/Trudeau statement
• 23:42 – 27:36: The economic fallout of deporting immigrants
• 27:36 – 29:20: Trump’s Deutsche Bank connections; corporate tax repatriation myths
• 29:20 – 36:14: Introduction of David Barsamian; critique of corporate and public media
• 36:14 – 41:58: Economic logic of media; need for solution-oriented alternative news
• 41:58 – 45:35: Opportunities and risks of new/Internet media
• 45:35 – 49:51: Trump’s manipulation of mainstream media in the 2016 election
• 49:51 – 56:44: Alternative media’s challenge under Trump; Carrier deal; optimism amidst adversity

Conclusion

This episode offers a trenchant critique of American mass media’s shortcomings—rooted in its corporate-profit structure—and exposes how these systemic flaws shape economic policy, public understanding, and even electoral outcomes. Through Barsamian’s insights and Wolff’s economic context, listeners are challenged both to recognize the urgency of building and supporting robust alternative media and to demand a more democratic approach to information in the service of economic and social justice.