Video: Richard D. Wolff – What is Capitalism & Socialism? What differentiates them from each other?
This video is part of an educational & historical series with Professor of Economics Emeritus (University of Massachusetts), Marxist economist and founder of Democracy at Work, Richard D. Wolff.
In this first interview we talk to him about Capitalism and Socialism:
- What is Capitalism and Socialism?
- What differentiates Capitalism from Socialism?
- Has either system ever existed in its purest form?
- Was Capitalism actually overcome by Socialism when the State took over private ownership?
- What changes are required in society to truly implement Socialism?
All of this and more is addressed in the video here.