Which Way — Capitalism or Socialism or Something Else?

Source: Free Association
by Sheldon Richman

“Big questions are being thrashed out these days. One of the biggest is this: do we want capitalism or socialism? Unfortunately, the online discussions I’ve witnessed have been, to put it as politely as I can, terrible. … Let’s start with the words themselves. We’re in a linguistic mess. It’s only a slight exaggeration to say that nearly everyone has his own definition of capitalism and socialism. So when people get together to hash things out, they ought to begin by saying what they — the discussants, not the words — mean. That doesn’t seem to be an unreasonable demand.” (03/03/23)