Richard Wolff: What is capitalism? What is socialism?

In this interview with acTVism Munich, American Marxian economist Richard Wolff answers:

  • 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?

This article originally appeared on DemocracyAtWork.info.

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