A Patron of Economic Update asks: "How did the people of the USSR come to accept the radical shift back to capitalism? Did they not retain an expectation that people should own their homes and means of production? The mass privatization of the Soviet economy was followed by a decade long depression and a huge rise in poverty. How did that affect public perception of capitalism and socialism? Post-Soviet states seem even less social-democratic than western European states, why is that?"
This is Professor Richard Wolff's video response.
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