Pitchfork Economics with Nick Hanauer cover image

Re-imagining capitalism (with Anu Partanen and Trevor Corson)

Pitchfork Economics with Nick Hanauer

00:00

Socialism vs Social Democracy

There's capitalism, this thing called capitalism which is markets and freedom. And then socialism where people lump in affordable health care with Stalinist death camps. Right. Let's make a technical distinction between socialism in the Soviet sense of what we think of as 'socialism' The state is setting all the prices and assigning all the wages and so forth. It's complete top down control. That's not the same thing as a social democracy.

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