Monday, April 11, 2016

The End of Socialism?

Here is a startling statistic: among young Americans, socialism is viewed more favorably as an economic system than capitalism. Capitalism contains inherent contradictions that eventually will destroy it. Relentless reduction of labor costs, commodification of social goods, and overproduction are just three examples of these.  To paraphrase Engels, capitalism does not resolve its inconsistencies, it just moves them around. Watch this video from The Empire Files with Abby Martin and get the very short version of Marxism from Prof. Richard Wolff of UMass, in order to "democratize the enterprise":