A patron of Economic Update asks: "Dear Prof. Wolff, I would like to begin by saying that I am 15 years old and only educated on a surface level on these topics but I have been engaging in many talks on capitalism with people around me and they often tend to say that the problem is that capitalism has been too monopolized and turned to corporatism but I believe they are misusing the word and it is simply just a problem of natural monopolization of capitalistic economy, so I would love if you could do something talking about whether I'm right or if capitalism has evolved in America at least into corporatism and what corporatism is compared to capitalism." This is Professor Richard Wolff's video response.
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