Economic Update with Richard D. Wolff: Episode Summary
Title: Resisting Trump's Restoration Project with Kali Akuno
Host: Richard D. Wolff
Guest: Kali Akuno, Co-founder and Co-director of Cooperation Jackson
Release Date: April 29, 2025
Introduction
In this episode of Economic Update, Richard D. Wolff delves into pressing economic issues affecting the American workforce and broader society. The program begins with updates on significant labor movements and critiques of the Trump administration's economic policies, specifically focusing on tariffs. Wolff then engages in a profound conversation with Kali Akuno, a renowned activist advocating for systemic economic change.
1. Kaiser Permanente Workers' Strike
Timestamp: [00:20] – [17:00]
Wolff opens the episode by highlighting the unprecedented strike led by 2,400 mental health workers at Kaiser Permanente in California. This strike, ongoing since October 21 of the previous year, marks the longest in American history for mental health professionals. The core issue revolves around the inadequacies of private-provided mental health services, which Wolff attributes to profit-driven motives rather than community service.
Key Points:
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Mental Health Crisis: Despite having health insurance, approximately two-thirds of Americans diagnosed with mental health conditions couldn’t access treatment in 2021. Only a third received follow-up care post-emergency interventions.
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Impact of Profit Motive: Private provision leads to long wait times, insufficient attention, and overworked staff. Conversely, Medicaid recipients often receive better care due to the absence of profit incentives.
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Legislative Attempts: In 2020, California passed significant legislation to address these issues. However, sustainability was hindered by reliance on privatized medical services, prompting the workers to strike as management failed to implement necessary changes.
Notable Quote:
"Profit is what the people who service the private sector mental health business are letting us all down. And it's dangerous for us as a community."
— Richard Wolff [09:45]
2. Tariffs as an Attack on the Working Class
Timestamp: [17:00] – [26:23]
Wolff transitions to a critical analysis of President Trump's tariff policies, framing them as detrimental to the American working class. He demystifies tariffs, explaining them as taxes imposed on imported goods, which ultimately burden consumers and disrupt domestic markets.
Key Points:
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Understanding Tariffs: A tariff is essentially a tax on imported goods. For example, a 20% tariff on a $20 bottle of French wine increases its cost to $24 for the consumer.
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Economic Ripple Effects: Tariffs not only affect the price of imported goods but also increase production costs for domestic producers who rely on imported materials, such as California wine producers needing corks from Portugal or oak barrels from France.
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Impact on Consumers and Producers: Both imported and domestic products become more expensive, leading to higher costs for consumers without corresponding increases in wages.
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Critique of Policy Rationale: While proponents argue tariffs protect American industries, Wolff counters that they hurt the very workers they intend to help by inflating prices and stifling competition.
Notable Quote:
"Tariffs are an attack on the working class. We've come to the end of the first half, but I want to let you know..."
— Richard Wolff [22:15]
3. Guest Interview: Kali Akuno on Resisting Trump's Restoration Project
Timestamp: [17:10] – [31:38]
In the second half of the show, Wolff interviews Kali Akuno, a prominent activist focused on building democratic and sustainable economic structures through worker cooperatives and community-led initiatives in Jackson, Mississippi.
Key Topics Discussed:
a. Trump's Restoration Project
Notable Quote:
"Trump has in his mind and The MAGA movement have in their minds collectively that there was some bygone glory days of US Empire... He's trying to restore this mythical past."
— Kali Akuno [20:30]
Insights:
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Mythical Past Idealization: Akuno argues that Trump's policies aim to resurrect an idealized version of America's past, characterized by industrial dominance and systemic inequalities rooted in white supremacy and patriarchy.
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Economic and Social Implications: The restoration involves protectionist economic policies and attempts to centralize power, which may lead to increased automation and concentration of economic control among tech elites, undermining genuine job creation.
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Global Confrontation: Akuno warns that these policies position the U.S. in direct competition with rising powers like China, exacerbating global tensions and economic instability.
b. Mobilizing Genuine Opposition
Notable Quote:
"We have to get those of us who are radical progressives. We have to get away from a type of deficit thinking that we do not have enough."
— Kali Akuno [26:23]
Insights:
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Possibility of Change: Akuno is optimistic about the potential for building a broad-based opposition to the current administration's policies. He cites recent social movements as evidence of a populace ready for systemic change.
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Building Coordination: Emphasizing the importance of organizing existing grassroots efforts—mutual aid, community-supported agriculture, worker cooperatives—into a coherent movement that can challenge neoliberal structures and promote economic democracy.
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The "Build and Fight" Formula: Akuno advocates for a strategy that simultaneously builds alternative economic structures while actively resisting oppressive policies, fostering long-term societal transformation.
Notable Quote:
"There are millions of people in this country who are clamoring for change and are willing to engage in constructing it."
— Kali Akuno [25:10]
4. Conclusion and Closing Remarks
Timestamp: [31:38] – End
Wolff thanks Akuno for his insightful contributions and reiterates the importance of recognizing and resisting systemic attempts to undermine the working class. He encourages listeners to engage with Democracy at Work's resources and participate in upcoming events, emphasizing collective action and informed resistance.
Notable Quote:
"We just need to give it more direction and articulation with programs and articulations like this."
— Kali Akuno [30:50]
Final Thoughts
This episode of Economic Update offers a critical examination of contemporary economic struggles, highlighting the intersection of labor rights, governmental policies, and grassroots activism. Richard Wolff effectively bridges the discourse between immediate labor issues and broader systemic critiques, while Kali Akuno provides a visionary perspective on organizing for sustainable and democratic economic transformation.
Listeners are left with a comprehensive understanding of how policies like tariffs not only impact prices but also the very fabric of the working class, and the imperative of building unified, community-driven movements to oppose and replace oppressive economic structures.
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This summary aims to encapsulate the essence of the podcast episode for those who haven't listened, providing a detailed yet accessible overview of the discussions and insights shared by Richard D. Wolff and Kali Akuno.