On The Real News Network, Richard Wolff lays out how concentrated wealth tightens an authoritarian grip on democratic institutions. Oil functions as a tool of control, shaping both domestic power and global politics. Extreme wealth inequality destabilizes social life and narrows real freedom. US foreign policy follows imperial patterns, with interventions in places like Venezuela driven by economic interests. An emerging AI bubble carries familiar risks of speculation and collapse. Private equity’s role in healthcare degrades patient care in pursuit of profit. Policing enforces economic hierarchy rather than public safety, while continued reliance on fossil fuels deepens environmental and social crises, underscoring the need for a transition to sustainable energy.
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