Economic Update: Marx Was Right

Economic Update with Richard D. Wolff | Full Episode
[EU Season 15, Episode 50] – Marx Was Right

This week’s episode of Economic Update is adapted from a powerful lecture delivered by Professor Wolff at Yale University on December 2, 2025, before the Yale Political Union.

In this presentation, Professor Wolff explores the meaning and importance of the provocative title “Marx Was Right”—a topic that, he notes, would have been unthinkable on the Yale campus for much of the past 75 years. He outlines key arguments from Karl Marx’s work and explains how historical developments have repeatedly confirmed many of Marx’s insights.

The discussion also traces the evolution of socialism, examining its transformations from the rise and collapse of the USSR to the emergence and growth of the People’s Republic of China.

We hope you enjoy this insightful episode and invite you to join us next week for another all-new edition of Economic Update.

Economic Update with Richard D. Wolff is produced by Democracy at Work. The show remains ad-free and is made possible entirely through viewer support. You can help sustain this work by joining our Patreon community.

In this powerful full episode of Economic Update, renowned economist Richard D. Wolff explains why Marx Was Right—and why this idea is gaining renewed attention today. Adapted from a lecture delivered at Yale University on December 2, 2025, this discussion explores how Karl Marx’s core ideas have been validated by economic history over the past 75 years.

Professor Wolff breaks down key insights from Marx’s work, including capitalism’s recurring crises, inequality, and systemic instability. He also examines the evolution of socialism, from the rise and fall of the USSR to the economic transformation of the People’s Republic of China.

This episode offers a clear, thought-provoking analysis of today’s global economy and challenges many mainstream narratives. If you’re interested in political economy, capitalism vs socialism, or understanding the deeper forces shaping our world, this discussion is a must-watch.

🕒 Timestamps

⏱️ 00:00 – Introduction
📘 02:45 – Why “Marx Was Right” Matters Today
🏛️ 08:30 – Why This Topic Was Once Unthinkable at Yale
📊 14:10 – Marx’s Ideas Proven by History
⚖️ 21:40 – Capitalism, Crisis & Inequality
🌍 29:10 – Socialism: USSR to China
🔍 38:50 – What This Means for Today’s Economy
🎯 47:30 – Final Thoughts

🔥 Why Watch This Episode?

Understand why Marx’s ideas are resurfacing

Learn from a leading economist’s real-world analysis

Get clarity on capitalism, socialism, and global economics

Gain insight beyond mainstream media narratives

🏷️ 20 YouTube Tags (inline)

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