Ask Prof Wolff: Living in Capitalism, Believing in Socialism

A Patron of Economic Update asks: "I would be considered to belong to the “wealthy” class in my community and country espousing a pro socialist , anti capitalist ideology. I am often accused of being a hypocrite because of what I own or the fact that I have people that I employ with my business (4) and with my household. (My spouse has a bigger business than me and mine is successful too). We are both professionals, we are certainly not billionaires but we do ok and our businesses are structured in a capitalist way - employer employee etc. To explain my own position on this contradiction: I live in a capitalist system and I have to seize on the opportunity to give my own kids the best opportunities, I have no right to deprive them of that chance , not for a political belief etc. I try to raise my kids with social consciousness, etc nevertheless. Do you have any advice for this type of engagement with people - how would you respond when having political/economical discussions with other capitalists."

This is Professor Richard Wolff's video response.

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