Source: Cyrus Janssen youtube
Description:
Economist Professor Richard Wolff explains why he believes the American empire is in decline—and why China and Asia are shaping the future of the global economy.
We discuss the history of U.S. colonialism, the failures of American capitalism, China’s hybrid economic model, the economic consequences of the Iran war, and the growing appeal of socialism in the United States.
Professor Wolff also examines whether America and China can peacefully coexist, how the upcoming midterm elections could reshape American politics, and why both Republicans and Democrats may be unprepared for the dramatic changes ahead.
Timeline:
00:00 - Intro to Professor Richard Wolff
00:30 - Can the United States Empire Survive?
01:59 - Why the US Empire Will Collapse
02:57 - The History of the US Colonialism
07:05 - The United States's Biggest Mistake
08:28 - Why China and Asia is the Future
09:18 - Can the US and China Work Together?
10:25 - What is China Doing Better Than the US?
11:55 - How the US Lost China
12:45 - The Problem with US Capitalism
16:00 - Why the Chinese Hybrid Economy Will Win
17:55 - Why the Chinese Economy Outperforms the US
19:45 - How China Rose from Poverty
21:35 - How China Outperformed Every Other Country
23:15 - Is the Chinese Economy Slowing Down?
24:30 - Will the Iran War Dethrone the United States?
25:33 - How the US Lost in Vietnam and Afghanistan
26:45 - Why the Iran War is Different
27:45 - How Socialism is Growing in America
31:04 - How Will the Midterms Change America?
34:05 - Why the Republicans and Democrats Are in Trouble
36:50 - Why the Future Will Be Very Different
38:57 - Final Thoughts