Glenn Diesen - Greater Eurasia Podcast Richard Wolff: Europe's Irreversible Economic & Political Decline
Nov 28, 2025
Economist Richard Wolff, known for his critiques of capitalism, discusses Europe's severe political and economic decline. He argues that the continent's cohesion is fading, undermined by class divisions and inadequate leadership. Wolff explains how excessive Russophobia is not strategic but merely a superficial response. He warns that U.S. attitudes are shifting, viewing Europe as more of a burden than an ally, and predicts a future alignment with China as the balance of power shifts globally. Wolff's insights on Europe's potential as a 'retirement economy' provoke thought on its future.
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Europe Losing Global Economic Relevance
- Richard Wolff argues Europe is becoming increasingly irrelevant economically and politically.
- He warns China plus BRICS now form a larger economic unit than the US-led G7, undermining Western dominance.
Wolff's Personal European Roots
- Wolff shares his personal European roots: father born in France, mother in Germany, and lifelong use of French and German.
- He uses this background to express sadness at Europe's decline rather than disdain.
Class Divide Undermined EU Cohesion
- Wolff says EU unification was organised by employers and lacked working-class buy-in.
- That class split produced persistent Euroscepticism and national backlash against Brussels.