Is It Better to Pay Workers a Living Wage Than to Stay in Business?

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The way firms go out of business is by an explosion, like a way popcorn starts getting cooked. The state has some sort of role in fostering firms in either my version of a socialist economy or a capitalist economy to help with these time horizon problems. But more often than that, it's coming from investors,. It's coming from just a host of other market pressures that people might have. So I think this is a problem that could be solved through public policy but definitely exists today as well.

Bhaskar Sunkara is a democratic socialist, political writer, founding editor of Jacobin, president of The Nation, and author of The Socialist Manifesto. Please support this podcast by checking out our sponsors:
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OUTLINE:
Here’s the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.
(00:00) – Introduction
(13:24) – Socialism
(31:54) – Communism
(58:31) – Class struggle
(1:09:33) – Quality of life
(1:17:29) – Unions
(1:29:57) – Corruption
(1:43:15) – Freedom of speech
(1:51:38) – War
(1:59:24) – Karl Marx
(2:13:03) – Socialist vision
(2:18:28) – AI and socialism
(2:23:26) – Socialist policies
(2:48:45) – Billionaires
(2:54:43) – Bernie Sanders
(3:05:10) – AOC
(3:17:11) – 2024 presidential election
(3:22:05) – China
(3:31:06) – Jacobin
(3:38:35) – The Socialist Manifesto
(3:45:55) – Advice for young people
(3:49:28) – Meaning of life