Prof. Wolff – What the Iran War Really Costs the World

In this video, Richard D. Wolff, Professor of Economics (emeritus) at the University of Massachusetts Amherst, analyzes the far-reaching economic consequences of the US-Israeli war on Iran. The focus is on the Strait of Hormuz, conflicting developments in energy prices and supply, and signs of escalation whose consequences may extend far beyond the region. The key question is: what forces are now shaping the global economy?

To read the transcript of this video: Prof. Wolff – What the Iran War Really Costs the World

This video was produced by Economic Update and published on their YouTube channel on the 13th of April, 2026.

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VIDEO: Prof. Wolff – What the Iran War Really Costs the World

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ABOUT RICHARD D. WOLFF

Richard D. Wolff is the founder of Democracy at Work and hosts the show Economic Update there. He is Professor of Economics Emeritus, University of Massachusetts, Amherst where he taught economics from 1973 to 2008. Earlier he taught economics at Yale University and at the City College of the City University of New York. Wolff was also a regular lecturer at the Brecht Forum in New York City. He is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University in New York City.