Glenn Diesen - Greater Eurasia Podcast Richard Wolff: Overextended America vs. Subordinated Europe
Feb 12, 2026
Richard Wolff, economist known for sharp critiques of capitalism, examines America’s overreach and the Trump-era playbook. He discusses theatrical domestic politics, tariffs that miss structural problems, and the US tribute-like foreign strategy. He also outlines Europe's economic shrinkage, social strains, and pressures to align under US dominance.
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Theatrical Politics Serving Elites
- Richard Wolff argues Trump pursues traditional Republican goals focused on enriching the top 1–5% through tax cuts and corporate benefits.
- He uses theatrical nationalism and punitive actions to secure mass voter blocs without addressing structural economic decline.
Tariffs Can't Reverse Structural Decline
- Wolff highlights U.S. decline vs. China's faster growth and shows tariffs failed to reverse that trend.
- He calls tariff moves largely symbolic and unable to stop long-term structural shifts in global trade.
Tribute Economy As Foreign Policy
- Wolff describes Trump's foreign policy as trying to convert other countries into a tributary economy using threats and leverage.
- He compares it to Roman tribute: buy our goods, accept our investments, or face coercion.