Renowned American economist Richard Wolff has characterized the U.S. war on Iran not as a display of strength, but as a sign of "despair from a retreating empire drawing its last breaths." Wolff argues that Washington is following the footsteps of the British Empire toward decline, attempting to mask its waning global influence.
اضافة اعلان
The Economic Burden of War
Wolff, a professor of economics at Harvard, Stanford, and Yale, highlighted several critical economic pressures facing the U.S.:
Mounting Debt: U.S. debt has surpassed $39 trillion, with an expected deficit of $2–3 trillion in 2027 alone.
Funding Conflict: The U.S. continues to fund its wars by borrowing from the rest of the world, specifically the Gulf States, China, and Japan.
The Military-Industrial Complex: Wolff noted a paradox where American defense firms profit more from loss and weapon replacement than from victory. These companies are increasingly utilizing automation, worsening domestic unemployment despite record military production.
The "Hormuz Paradox" and Domestic Unrest
Wolff warned of a "social explosion" inside the United States due to the closure of the Strait of Hormuz:
Energy Costs: The war caused the closure of the previously open strait, driving up global oil prices.
Financial Strain: With half of the American population living paycheck to paycheck, any significant spike in gas prices could trigger mass unrest.
Political Fallout: Such economic instability could lead to a major defeat for Donald Trump and his allies in the November 2026 Congressional elections.
Signs of Imperial Decline
Wolff pointed to several indicators that suggest a fundamental shift in the American landscape:
Shifting Demographics: He cited the election of Zahran Mamdani, a socialist Muslim, as the Mayor of New York City—winning with support from Jewish voters—as something that would have been "impossible in the past."
U.S.-Israel Relations: Wolff described the current tension between Washington and Tel Aviv as the "worst ever," noting that Americans will eventually look for someone to blame for the "catastrophe in Iran."
The Rise of China: While the U.S. grows at 2% annually, China has maintained 8–9% growth for 30 years. Coupled with its alliance with Russia, China now effectively balances American military and economic power.
Conclusion
Drawing parallels to the Greek, Egyptian, and Ottoman empires, Wolff concluded that the U.S. is in a stage of "inevitable decay." He noted a consensus among top American economists that current levels of social inequality, political division, and collective despair are the worst in modern history.
Source: Al Jazeera
