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Economic Update – Best Years of US Lie in its Past

On this week’s show, Prof. Wolff talks about Chipotle Mexican Grill blaming its price increases on its workers, economist Arthur Laffer’s claims that many poor, minority workers are “not worth $15/hour.” and false claims that lower taxes help economic growth while higher taxes hurt it. On the second half of the program, Wolff interviews August H. Nimtz, Jr. on today’s crisis of a declining US capitalism, its impacts and implications.