Ask Prof Wolff: Can Capitalism Be Reformed?

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Patron of Democracy at Work asks: "Have you looked into the concept of Collective Capitalism as theorized by G. Means and its influence on Japan (which has the largest Communist Party not in control of the government)? Also, the public private relationship in Singapore's economy seems very different from the Western financial capitalist system. Are these various "Eastern" economic models something that would attract support from American workers rather than socialism? In another way, could concessions from capitalism like guarantees of long-term employment, market controls, social services, etc. be ways that capitalists retain private property rights and stymie socialist progress? For background, it seems like the FDR administration used this approach to prevent a full socialist movement from taking power during the great depression."

This is Professor Richard Wolff's video response.

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