Glenn Diesen - Greater Eurasia Podcast Richard Wolff: Economic Decline Fuels U.S. Political Meltdown
Nov 9, 2025
Join Richard Wolff, a Marxian economist renowned for his insights on capitalism, as he analyzes the U.S. economic decline and its political repercussions. He argues that capitalism's center has shifted East and outlines the lack of viable paths for the West to regain industrial leadership. Wolff discusses the political theater surrounding tariffs, recent election backlash against the status quo, and systemic polarization in American politics. He cautions that U.S. strategies are extracting resources from allies, warning Europe to rethink ties with a declining America.
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Center Of Capitalism Shifted East
- Richard Wolff argues the dynamic center of capitalism has shifted from the West to the East, driven by faster growth and technological momentum in Asia.
- He says Western denial of decline mirrors a child's tactic of covering eyes to avoid a barking dog and delays realistic responses.
Daughter Covers Eyes Analogy
- Wolff recounts his daughter's reaction to a barking dog as an analogy for denial: she covered her eyes to feel safer.
- He uses this personal story to illustrate how societies ignore inconvenient realities.
No Easy Rescue For Western Decline
- Wolff sees no viable path for the West to reclaim technological and economic primacy given current trends and failed interventions like arming Ukraine.
- He connects ongoing economic deterioration to political theatrics and policy missteps that worsen recessionary pressures.