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Before the 1980s, mass layoffs were often tied to economic recessions. Today, they are shrewd corporate strategy. Modern mass layoffs are connected to leveraged buyouts or stock buybacks. Steve’s guest, Les Leopold, explains how the process works and how it came to be through the maneuverings of Wall Street and the two political parties. Les is the author of Wall Street’s War on Workers. He and Steve talk about the very real impact on people’s lives, from the coal miners of Mingo County, West Virginia, to Steve’s personal struggles after Verizon’s 2009 lay-offs. They discuss organizing, the value of a job guarantee, and intersectionality within a class analysis. Les Leopold is executive director of the Labor Institute, which he co-founded in 1976. He has written several books on the finance sector’s looting of America. His upcoming book, Wall Street’s War on Workers, is being published by Chelsea Green Publishing. Follow his substack: https://substack.com/@lesleopold1 @les_leopold on Twitter 00:15 Introduction and Personal Story 00:17 Guest Introduction: Les Leopold 00:38 Impact of Mass Layoffs and Wall Street's Role 01:20 Discussion on Les Leopold's Book 01:43 Personal Struggles and the Cruel Economy 02:35 The Role of Wall Street in Mass Layoffs 02:40 The Impact of Mass Layoffs on the Working Class 04:01 The Role of Leveraged Buyouts and Stock Buybacks 05:52 Discussion on Modern Monetary Theory 06:52 Critique of the Democratic Party's Approach to Wall Street 07:05 Discussion on the Role of Policy Choices in Mass Layoffs 08:04 The Impact of Deregulation and Policy Choices on Workers 09:25 Discussion on the Impact of Mass Layoffs on Voting Patterns 11:21 Critique of the Democratic Party's Approach to Working Class Issues 12:15 Discussion on the Role of Identity Politics in the Working Class Struggle 14:06 Case Study: Mingo County, West Virginia 19:12 Discussion on the Impact of Mass Layoffs on Political Engagement 21:46 Discussion on the Potential for Political Independence 24:38 Closing Remarks on the Importance of a Class-Based Analysis 25:14 Understanding Intersectionality and Class Struggle 25:37 The Impact of Class Reductionism 25:50 The Dangers of Neoliberal Identity Politics 26:37 Exploring the Perception of the Working Class 27:04 Investigating the Attitudes of the White Working Class 28:06 The Misconception of the 'Deplorables' 31:11 The Role of Intersectional Class Analysis 32:53 The Power of Trade Union Movement 33:27 The Importance of Intersectionality in the Workplace 34:35 Building Power through Successful Trade Union Organizing 37:57 The Role of Education in Building Power 44:23 Understanding Modern Monetary Theory 46:21 The Power of Education in Shaping the Economy 48:08 Closing Remarks and Future Directions _____________________________ #FIREsector #duopoly #Reagan #Clinton #leveragedbuyouts #stockbuybacks #financecapitalism #labor #economicjustice #FJG #MMT Weaponize Knowledge with Modern Monetary Theory (MMT) Please help our Real Progressives efforts in spreading and become a monthly donor! At PayPal http://paypal.me/RealProgressives/25 At Patreon / realprogressives Write for Real Progressives https://realprogressives.org/submit-a... Visit our website: https://realprogressives.org/ Listen to our podcast: https://realprogressives.org/macro-n-... We believe all materials used in this video fall under Fair Use as defined in Section 107 of the Copyright Act of 1976. #mmt