By DCB Editorial, January 27, 2025
Economics Professor Richard Wolff, during a panel discussion, explained that the decline of the American manufacturing empire is intrinsically tied to the broader decline of the American Empire. In the West, we often hesitate to label the USA as an empire, viewing it instead as a nation that spreads democracy, prosperity, and peace around the world. However, Wolff asserts that this perception is inaccurate and has never truly reflected reality—America is, and has always been, an empire.
The American Empire effectively supplanted the British Empire following World War II, emerging as the most powerful economic and military force the world has ever seen. For approximately 50 years, the United States experienced substantial growth. However, Wolff argues that, like all empires throughout history, the American Empire is not immune to decline. He highlights a number of indicators suggesting that the U.S. is in a late stage of imperial decline.
Wolff highlights the rise of the Chinese electric automotive industry, which not only leads in technological innovation but also delivers superior products at affordable prices. This contrasts sharply with European and American car manufacturers, who offer subpar EVs at significantly inflated prices compared to their Chinese counterparts. As always, Professor Richard Wolff provides an interesting and thought-provoking analysis, sparking a discussion that is notably absent from mainstream news outlets.
