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January 23rd, 2025

Understanding the Impact of Wall Street on the Working Class

  1. Understanding the Impact of Wall Street on the Working Class Evergreen Podcasts 1:11:38

In this episode of the EZ Conversations podcast, the host welcomes Les Leopold, co-founder and director of the Labor Institute, who advocates for labour Education and working-class issues. The conversation begins with exploring Les’s background, highlighting his lifetime work as an educator, turning academic ideas into practical, actionable knowledge for working people since the mid-1970s. Les discusses his transition to writing, revealing how a notable campaign involving Bruce Springsteen and personal experiences prompted him to author several books, including his latest on financial and labour issues. The discussion delves into the undervaluation of the working class due to deregulation, outsourcing, and economic manipulation like stock buybacks and leveraged buyouts. Les emphasizes the need for strong labour unions, community mobilization, and systemic changes to prevent Wall Street-induced layoffs. The conversation also touches on job instability’s personal and societal impacts, and Les shares his vision for a more equitable future. Listeners are provided with resources to explore further, including Les’s educational materials and books.

After graduating from Oberlin College and the Princeton School of Public and International Affairs (MPA 1975), Les co-founded the Labor Institute (1976). This non-profit organization designs research and educational programs on occupational safety and health, as well as the environment and economics for unions, worker centers, and community organizations. In addition to his most recent book, Wall Street’s War on Workers: How Mass Layoffs and Greed are Destroying the Working Class and What to do about it (Chelsea Green 2024), he is also the author of Defiant German, Defiant Jew (Amsterdam Publishers, 2020) he is the author of Runaway Inequality: An Activist’s Guide to Economic Justice (Labor Institute Press, 2015, 2016, 2018), How to Make a Million Dollars an Hour  (John Wiley and Sons, 2013); The Looting of America, (Chelsea Green Publishing, June 2009); The Man Who Hated Work and Loved Labor: The Life and Times of Tony Mazzocchi, (Chelsea Green Publishing, June 2006). The Mazzocchi story won the Independent Publisher Award for best biography.

 

He is helping build a national economic educational train-the-trainer program with unions and community groups. All proceeds from his books are donated to non-profit organizations. 

04:39 Welcome to EZ Conversations

05:17 Les’s Background and Career Journey

07:25 The Joy of Writing

11:52 The Power of the Working Class

17:28 Challenges Facing the Working Class

22:22 Impact of Deregulation and Outsourcing

24:13 The Role of Unions and Labor Laws

26:10 Potential Changes Under Trump Administration

29:29 Corporate Responsibility and Worker Rights

31:34 Global Examples of Labor Power

33:43 Automation and the Future of Work

34:56 Automation and Labor: A Historical Perspective

36:35 The Impact of Stock Buybacks on Workers

37:49 The Mechanism and Consequences of Stock Buybacks

47:35 Corporate Greed and Its Philosophical Implications

01:00:50 The Human Cost of Mass Layoffs

01:03:43 Solutions and Call to Action for Workers

01:06:41 Resources and Final Thoughts

Sponsors of the Podcast:

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  • Aura: https://aura.com/ez10 for a free two-week trial
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Subscribe to the EZ Reflections Newsletter: ⁠⁠⁠⁠https://ez-reflections-newsletter.beehiiv.com

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Furkhan Dandia Therapist and Coach

I am a men's coach, therapist, group facilitator, podcaster and author. My journey began five years ago when I was going through a separation. I found myself alone and in a shame spiral that our culture and society covertly exert on people due to the perceived "failure" of a marriage. Unfortunately, I personalized that message which led me to fall deeper into a hole, causing me to surround myself with people that did not serve me and engage in substance abuse. While seeking therapy, I was not making the wholesale changes I needed.

As part of my experience with therapy, I realized that I am not alone in the challenges men my age experience (I separated at the age of 34/35). I realized I could be a voice for men like myself and offer support in this space. In the middle of the pandemic, I applied for a Master's degree in Psychology to become a therapist. This change was a significant shift for me as I worked in the corporate world as an engineer. Once I leaned into the space of supporting other men, I also started a podcast to normalize these difficult conversations and started a men's group a year later with the support of a friend.

I thought I was giving something back when I started the men's group. However, I quickly realized I was getting substantially more from the connections I built than I initially anticipated. It was also something I needed because I was going through another breakup.

At that point, I also realized that I had not taken the time to heal, and I was outsourcing my healing through romantic relationships, substances, material acquisitions and superficial relationships. I decided to step away from the outgoing lifestyle and started to focus on my healing which was another phase of evolution for me on my journey. Over the last year and a half, I have become mindful of the people I spend my time with. I have cleaned my lifestyle of substances, toxic environments and behaviours. I have focused on my sleep, my health and my knowledge. I have improved my spiritual relationship with myself, which was lacking the most over the past five years. This is the best I have felt.

As part of my solitude journey and to find myself again, I also released a book encapsulating my journey, which I hope to share with others. My book is titled: The Pursuit of Self-Love.

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