Ask Prof Wolff: Why Use the word "Socialism"

A patron of Economic Update asks: "My question is: The word "socialism" has been completely corrupted in the USA and associated with all kinds of false and negative connotations, so can we come up with new terminology to express the concepts that you are describing when you discuss the way to move forward in society to create the fair and equitable government that would truly be "of the people, by the people, and for the people?" Shouldn't we rebrand socialism as progressive democracy, or economic democracy, constitutional democracy, or with some other new terms for getting Americans to accept this new possibility of governance? Now that Democrats and Republicans have both proven through this pandemic that they are working toward the same goals (maintaining the status quo for their donors and doing as little as possible for the voters and taxpayers that put them in office) isn't this the most opportune time in history for a new, third party to form and gain traction with the public?"

This is Professor Richard Wolff's video response.

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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

“A magnificent source of hope and insight.”
Yanis Varoufakis
Greek economist, academic, philosopher, politician, author of Talking to my daughter about the economy

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