Richard Wolff on Mass Resignations and Strikes

The latest Bureau of Labor Statistics report has shown that a record 2.9% of the American workforce quit their jobs in August, which is equivalent to 4.3 million resignations. Economists are calling this The Great Resignation. At the same time, an estimated 100,000 union workers across the country were either on strike or threatened to strike over contract negotiations, leading analysts to dub this month “Striketober.”

GUEST: Richard Wolff, Professor of Economics Emeritus, University of Massachusetts, Amherst. He has taught at Yale University and at City University of New York. He is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University in New York City and the host of the weekly radio and TV program Economic Update. His books include The Sickness is the System: When Capitalism Fails to Save Us from Pandemics or Itself, as well as Understanding Socialism (2019) and Understanding Marxism (2018) which has just been republished with a new introduction.