A Patron of Economic Update asks: "How do you prevent monopolies without the use of government? Furthermore, how does a socialist mode of production prevent monopolies from forming? Or would government intervention still be a necessary function? Is this because socialism is usually predicated on the idea of cooperation instead of competition, or would this require a shift in the paradigm of how we conduct our business?"
AskProfWolff is a @Democracy At Work production. We are committed to providing these videos to you free of ads. Please consider supporting us on Patreon.com/economicupdate. Become a part of the growing Patreon community and gain access to exclusive patron-only content, along with the ability to ask Prof. Wolff questions like this one! Your support also helps keep this content free to the public. Spreading Prof. Wolff's message is more important than ever. Help us continue to make this possible.
Learn more about Prof Wolff's new book, "The Sickness is the System: When Capitalism Fails to Save Us from Pandemics or Itself", available now at www.democracyatwork.info/books
"Richard Wolff in his new book examines frightening and anti-democratic configurations of corporate power, offering not only a blueprint for how we got here, but a plan for how we will rescue ourselves and create new models of economic and political justice.” - Chris Hedges
Follow us ONLINE:
Shop our Store: https://democracy-at-work-shop.myshopify.com/