The US’ Position as the Dominant Capitalist Power Is Changing – Richard Wolff Global Capitalism

Democracy At Work

– Jun 5, 2021

This is a clip from the May 2021 Global Capitalism lecture in which Richard Wolff gives three examples that indicate the US’s position of global power is changing, and its ability to influence global events is shrinking. “[In the case of Russian/German gas pipeline,] the Germans said ‘Sorry, we’re not closing this deal with Russia. We’re going to continue and finish it.’ The United States jumped up and down, yelled, threatened to sanction any company that participated in laying the pipes. It made no difference. The Germans said, ‘You can do whatever you want. We’re doing this. Go away.’… [In
the case of vaccine patents the Europeans are] not gonna budge. And they’ve told Mr Biden the power, the influence of the United States is not what it was in the past.” The full lecture is titled “Biden’s Economic Plans and Likely Results [May 2021].” In the full lecture, Prof Wolff discusses the following topics: 1. Changes in Government Spending and Taxing 2. Joe Biden and Franklin Roosevelt: Differences and Similarities 3. Historic Decline of US Capitalism: Reality vs Denial Watch the full lecture:…

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Learn more about Prof Wolff’s NEW BOOK, “The Sickness is the System: When Capitalism Fails to Save Us from Pandemics or Itself.”

Now also available as an eBook! “Wolff clearly explains the ways that capitalism exacerbates unemployment, inequality, racism, and patriarchy; and threatens the health and safety of workers and communities – i.e., most of us.” Jessica Gordon-Nembhard, Ph.D. Author of Collective Courage: A History of African American Cooperative Economic Thought and Practice. Check out Prof. Wolff’s other books “Understanding Socialism” and “Understanding Marxism”…

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