In this episode of Robinson’s Podcast, Richard Wolff and Michael Hudson explore how Marxist economics is vital to understanding contemporary issues and the ongoing decline of the Western world. They discuss the absence of Marxist perspectives in mainstream economic education and examine the critical insights Marxism offers on the dynamics between capitalism, communism, and socialism. Touching on global politics, Wolff and Hudson analyze the fall of the American empire, the impact of the 2024 U.S. election, and shifts in international power structures like Russia, Ukraine, China, and BRICS. They also critique mainstream economists like Paul Krugman, debate the relevance of Marx’s Das Kapital, and share why the Nobel Prize in Economics may be misguided. Their conversation highlights the relevance of Marx's theories to finance, class stratification, and the future of global economies.
