Why the Stock Market Plunged

Richard Wolff on The Socialist Program

The Socialist Program features Richard Wolff who provides key insights into the volatile nature of the stock market and the recurring economic crises within capitalism. Wolff discusses how capitalist economies experience cyclical downturns and points out the limitations politicians face in controlling these fluctuations. He highlights the recent market plunge, attributing it to uncertainty surrounding Trump's economic policies and signals of a looming recession. The conversation delves into the historical context of economic interventions like Keynesian economics and emphasizes the ideological war against the working class, exemplified by recent federal employee cuts. Wolff underscores the need for a robust people's fight back movement to challenge the systemic issues perpetuating economic instability and social inequality.