Edward Stuart, Professor Emeritus of Economics, breaks down the nuances between capitalism, socialism, and communism. He examines China’s hybrid model and questions whether its economic success stems from capitalism or communism. Stuart discusses the notable differences between North and South Korea’s economies, the real implications of state capitalism, and why communism fails to achieve equality. He also touches on historical context, the potential for U.S. economic depression, and the complexities of hyperinflation versus money printing.
