Edward F. Stuart is a Professor Emeritus of Economics at Northeastern Illinois University, where he teaches courses in international economics, the economics of the European Union, comparative economic systems, European economic history, and macroeconomic theory.

0:00:00 Introduction to Prof. Edward Stuart 0:01:11 Difference between Socialism, Social Democracy, and Communism 0:03:53 Social democracy vs Welfare State 0:04:32 What is State Capitalism? And does that characterize China? 0:08:05 Is China "successful" economically, because of Capitalism or Communism? 0:12:50 Does Stalin and his regime deserve praise for raising literacy rates, health care, employment, etc.? 0:20:30 What about Mao? (same question as above / before) 0:23:23 What South vs North Korea says about Capitalism vs Communism 0:34:39 Why North Korea will collapse economically and politically imminently 0:35:50 Not "real" Communism: Why equality doesn't happen in Communist societies 0:40:03 Difference between economic collapse, and a Depression 0:41:03 The conditions for Depression (and how it relates to the current US predicament) 0:54:22 The current US tariff's on China as it relates economic growth / protection 0:59:23 Is the US economy currently headed toward another Depression? 1:01:51 Why printing money doesn't always lead to inflation 1:04:15 Hyperinflation and how to paradoxically solve it 1:08:14 "Communism has killed 10's of millions?" True. 1:09:41 "Capitalism has lifted more out of poverty than any other system?" Partially true. 1:13:55 Can slavery be blamed on Capitalism given Capitalism needs voluntary exchange? (+ an economics joke) 1:19:30 What is "black envy" vs "white envy"? And does Marxism lead to "black envy"? 1:29:21 What are Edward Stuart's biggest differences with Richard Wolff? 1:30:58 Where you can find more from Prof. Edward Stuart 1:31:33 Bonus: Economics vs. Physics

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ABC of economics

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