On Economic Update Professor Richard Wolff and guests discuss the current state of the economy, both locally and globally in relation to the economic crisis.We will focus on wages, jobs, taxes, and debts – and on interest rates, prices, and profits. This week’s show provides updates on the end of weak “recovery”, Europe vs US austerity and explores criticism of the privatization debate. Professor Wolff interviews Tess Fraad-Wolff, MSW, about the economics of pornography. The questions section of the show looks at if the rich have the wealth to pay for mass social welfare and if public, democratically allocated funds can finance innovation.