Tag: Capitalism vs. Socialism

NOVANEWS By Richard D. Wolff, Truthout (Image: LW / TO; Adapted: Matthew Henry, Damian Gladal) Once again, private capitalism's contradictions, flaws and weaknesses threaten its own existence. Two major global collapses -- first in the 1930s and more recently, since 2008 -- plus periodic downturns every few years have underscored the instability that haunts the system. At the same time, deepening inequality has turned ever-larger populations into capitalism's critics. Talk of reform and revolution has crowded onto political agendas. The capitalism versus socialism debate has returned everywhere. However, it is a changed debate transformed by lessons drawn from the Soviet Union and other similar experiences and experiments. The debate now displays three key alternative systems, not...