Richard Wolff: Price of coffee beans have dropped but the cost of your cup of coffee hasn’t

“Over the last three years the price of coffee (per pound, at the farm, the beans, the coffee beans) has gone from over $1.20 per pound to $0.55 per pound. It destroyed the livelihoods of tens of thousands of small coffee farmers all over the world through Honduras, El Salvador, Guatemala, Costa Rica…  If you haven’t noticed a drop in the price of coffee that might be because the company delivering your coffee drink is keeping the extra money they get by not having to pay as much for coffee as they used to and using it for their profits.”

We’re taking a look back this week. This clip comes from Episode 30 of this season, which aired in the first week of August: “Win Win For Women’s Soccer”

Watch the full episode here: https://www.youtube.com/watch?v=q_gLw2Y_Oys&list=PLPJpiw1WYdTMLIyASxEheOVjl1vKkajYj&index=24&t=1290s

Check out our new book out by Prof. Wolff: “Understanding Socialism”
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Since 1992 Dr. Amy S. Cramer, (PhD at Univ of Mass), has been Professor of Economics at Pima Community College in southern Arizona. Her approach involves focusing on the multiple, different and alternative perspectives on economic issues: radical, liberal, and conservative. She calls this approach Voices On The Economy (VOTE for short); it became a 501(c)(3) nonprofit organization in 2015. In 2017 Cramer and journalist/writer Laura Markowitz began collaborating on Voices On The Economy: How Open-Minded Exploration of Rival Perspectives Can Spark Solutions to Our Urgent Economic Problems. On July 4th this year, VOTE’s new book came out as a free, online educational resource available on their website: VoicesOnTheEconomy.org