Ask Prof Wolff

A Patron of Economic Update asks: "Professor Wolff, how can consumers support the push for unions in companies like Starbucks and Amazon?"

A Patron of Democracy at Work asks: "In his book "One Nation Under God: How Corporate American Invented Christian America, Kevin Kruse talks about an alliance between American capitalists and conservative religious leaders, going back to the 1930s. This alliance pushes capitalism in churches under a biblical veneer of 'free-market Gospel.’ Capitalists supply the money, and the churches supply the voters as well as a moral gloss on unregulated capitalism, resulting in the enormous political power that we see in the 'Religious Right.’ Do you agree with his ideas? Is this sort of alliance unique to America or does it happen in other capitalist countries?"

A Patron of Economic Update asks: "I am confused by the 7/12/22 article in the Washington Post: 'Republicans threaten Wall Street over climate positions' by Steven Mufson (https://www.washingtonpost.com/climate-environment/2022/07/12/republicans-threaten-wall-street-over-climate-positions/). Are Republicans really turning on their Wall Street backers? Are the big banks really concerned enough about climate change to do something meaningful at the expense of profits? It doesn't seem likely."

A Patron of Economic Update asks: "My question is about the wage-price freeze concept. If we are to assume that workers would have their wages frozen after decades of stagnated real wage growth and a collapse in purchasing power and we freeze prices how they currently are, then how would workers be able to pay for necessities when such a huge gap in wages and prices exist? Isn’t the problem that wages are so low that we cannot afford rent, buy a week’s worth of food, pay our bills, or stay out of default on student loans (of which I am in real danger of doing)? What would the effect be if we implemented a price freeze but left wages alone?"

A Patron of Democracy at Work asks: "The focus on economic growth, something you talked about in the September 2022 Global Capitalism lecture, seems misplaced, at least for rich nations. I'm reminded of the Kenneth Boulding quote from the early 1970’s—“Anyone who believes that exponential growth can go on forever in a finite world is either a madman or an economist.” Can you please give your perspective on the obsession with economic growth that is seen almost everywhere? There is a degrowth movement which I believe you have mentioned in a discussion of capitalism. Where would economic growth stand in a socialist perspective?"