Capitalism vs Socialism is NOT Markets vs Planning
Economic Update with Richard D. Wolff
English - November 03, 2022 04:00 - 29 minutes - 66.4 MB - ★★★★★ - 1.8K ratingsPolitics News Government economics capitalism coops economy politics workercooperative Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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This week on Economic Update, Prof. Wolff shows how the economics of existing capitalist and socialist economies make use of both markets and planning. The opposition of markets and planning is largely false and has worked to distract students and observers of economic systems from better differentiations such as how they differently organize their workplaces: hierarchical in the case of capitalist, democratic in the case of worker cooperatives. Some major implications of this critique of the "planning versus market" obsession are discussed in relation to the US, Soviet Union, and China.