Yaron Debates Richard Wolff: Should the United States embrace Capitalism or Socialism?
Channel: Yaron Brook
Date: 2021-10-14

The global pandemic and the varied responses among nations to the global economic crisis it sparked has served to intensify debates over economic self-governance. While the right argues that market economies proved resilient to the shocks dealt them, and indeed should be even freer to innovate in the face of new challenges, the left points to unprecedented government interventions that not only prevented economic collapse but even helped ease poverty. In this context, Yaron Brook and Marxian economist Richard Wolff debate the merits and perils of capitalism and socialism as models for our economic future.

This hybrid debate was hosted by the Andrea Mitchell Center and the Penn Political Union at UPenn on October 12, 2021.  Co-sponsored by Penn Government and Politics Association, Penn Justice Democrats, Penn for Liberty, and University of Pennsylvania College Republicans.  This video originally posted at https://www.youtube.com/watch?v=gVx57ilss2Q.  For more like this, see the Andrea Mitchell Center's Channel at https://www.youtube.com/user/PennDCC/about. 

00:00 Intro
04:09 Wolff’s Opening Statement
11:50 Brook’s Opening Statement
19:14 Wolff’s Rebuttal
23:55 Brook’s Rebuttal

29:57 How Does Socialism Look and Function?
36:57 China’s inequality and Human Rights Violations, Death Count Analysis
40:20 How has the definition of Capital Changed?
44:17 Ex. of Socialism, Role of Gov't, Solution to Cronyism

52:23 What are Goals for Govt’s? 
56:14 Mental Illness Rates & Healthcare Outcomes
59:26 Homogeneity in Socialism
1:03:27 Differences of Socialism thru History
1:07:52 Disintegration of America
1:14:16 Critiques on Coops and Gov’t Initiatives?
1:22:38 Education Reforms
1:26:12 Progress in Socialism, War in Capitalism?
1:30:20 Employee and Employer Dynamic
1:35:30 State Intervention in Education
1:40:47 Unqualified People Running Socialist Businesses
1:44:50 Wolff’s Closing Statement
1:49:10 Brook’s Closing Statement
1:54:26 Outro

Yaron's recap of the debate is here: https://youtu.be/_nYuBFJpyHE

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