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Interview
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Economy & Labor

Richard D. Wolff: What Are Capitalism and Socialism? What Differentiates Them?

Professor Richard D. Wolff discusses the changes that are required in society to truly implement socialism.

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This interview with Richard D. Wolff, University of Massachusetts professor of Economics Emeritus, Marxist economist and founder of Democracy at Work, discusses capitalism and socialism, including:

  • 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?
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