Glenn Diesen - Greater Eurasia Podcast Richard Wolff: The West's Pre-Revolutionary Moment has Arrived
Jan 2, 2026
Economist Richard Wolff joins the discussion, bringing his expertise in Marxian economics and critiques of capitalism. He explores the West's economic decline and its impact on society and politics. Wolff highlights the shift of manufacturing to China and the resulting hollowing out of industries like Detroit. He connects electoral surprises to a growing interest in socialism, particularly among younger voters. Wolff warns of rising authoritarianism and outlines three potential revolutionary paths: fascism, reform, or democratization of production.
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Financialization Masks Industrial Decline
- Richard Wolff links Western economic decline to a financialized bubble that channels money into stock markets instead of production.
- This bubble masks structural shifts of manufacturing to Asia and creates political blindness and instability.
Detroit As A Case Study Of Collapse
- Richard Wolff describes Detroit's collapse as a vivid example of deindustrialization and social devastation over decades.
- He reports abandoned homes, fires, and a population drop from 1.75 million to 700,000 as evidence.
Pre-Revolutionary Moment In The West
- Wolff argues Western voters are rejecting the status quo and rediscovering socialism amid visible failures of capitalism.
- He calls the present period a "pre-revolutionary moment" driven by accumulated economic and ideological exhaustion.