The Decline of the U.S. Empire and the Emerging Multipolar World

Prof Wolff joins Rachel Blevins to discuss various aspects of U.S. foreign policy and economic challenges. He expresses skepticism about the Biden administration's handling of international conflicts, particularly the focus on foreign funding for conflicts in Ukraine, Israel, and Taiwan. He criticizes the administration's economic approach, highlighting its failure to explore alternative measures to address inflation, such as wage-price freezes and rationing. Wolff also touches on the declining influence of the U.S. in the global arena, emphasizing the emergence of China and other BRICS nations as significant competitors. Throughout the interview, Wolff urges for a more realistic assessment of the changing world order and its implications for the U.S. economy.

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  • Pasqual DiGesu
    commented 2023-12-30 10:56:53 -0500
    Wage price freeze, product cost control, FDR austerity measures = Italian Fascism
  • Pasqual DiGesu
    commented 2023-12-30 10:39:16 -0500
    China’s rapid success can be attributed to the fact that it dropped the old communist philosophy of “all ownership” which hamstrung all Eurasia in the last century. China now practices a system which follows “corporatism” in the way of certain authoritarian governments of the past. They have not only nationalized industries affecting national security, but now allowed increased privatization which allows private ownership and independent professional management to operate progressively while maintaining overall state control and oversight in their direction and balance.
    Their rapid success is also a product of baiting (low [overhead labor & controlled material] cost / greater profit) and allowing completely developed foreign industries and their technology to simply enter their fold, which they now control (possession being nine tenths of the law).
    Something our free enterprise principle allowed and something they would never allow.

    (Reflection, Guzziferno)
  • Pasqual DiGesu
    commented 2023-12-30 10:20:52 -0500
    Our system “democratic self-government”, or Capitalist controlled economics, is supreme and will always remain supreme, how can an AUTOCRATIC economic-political socialist system in China surpass ours?
  • Pasqual DiGesu
    commented 2023-12-30 09:44:56 -0500
    But “our” system of Democracy is Good, Democracy is always Good! ,, ??? From the book "Reflection by Guzziferno;

    “Industrialism became life itself. And governments refused to touch it or having touched it with a multitude of half measures, interfering with economic laws, exposed itself as baffled or even worse. Numbers were on the side of labor. If anyone is discussing self-government and its success and the sincerity of its claims to success under any form of democracy, let him explain why labor did not and could not dictate the complete regulation and all the equities of industrialism and of the so called class conflict. Capital had the money. Labor, however, had the votes. And yet democracies which made their pretenses with sweet psalms of self-government and pretty poetry as to the power of the franchise, did nothing substantial and much that was frivolous. How is that?”
    What beat the numbers of the self-governed was the democratic system; what defeated even the liberals’ pretense that self- government was in existence was the political party.
    — Richard Washburn Child (“The Writing On The Wall”, 1929)

    “Socialism never took root in America because the poor see themselves not as an exploited proletariat, but as temporarily embarrassed millionaires.”- John Steinbeck.
  • Richard Wolff
    published this page in Updates 2023-12-24 06:57:12 -0500

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