Economic Update with Richard D. Wolff Economic Update: The Reality, Hype, and Danger of A.I.
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Mar 24, 2026 Richard R.J. Eskow, writer and former Bernie Sanders speechwriter, tackles what AI actually is and why the hype matters. He separates prediction from true intelligence. He explores AI’s threat to jobs, its cultural impact on music and media, corporate data grabs and environmental costs, and argues for public control, transparency, and grassroots responses.
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February 2026 Job Losses Show Deep Labor Shortage
- The U.S. lost 92,000 jobs in February 2026 and needs 100–150k new jobs monthly just to absorb new labor entrants.
- Richard Wolff compares the 7.5 million officially unemployed to the population of New York City to highlight scale and undercounting.
California Fast Food Union Protects Immigrant Workers
- California fast food union found over a quarter of 630,000 fast food workers are immigrants and organized legal protections against ICE workplace raids.
- Richard Wolff frames this as labor stepping up to protect entire communities terrorized by enforcement.
Crashes Drive Political Extremes And Empire Strain
- Major economic crashes push masses politically left or right; 1929 led to fascism in Germany while 2008 fueled right-wing populism like Trump.
- Wolff argues current U.S. decline and imperial overreach create a political and economic dead end.