On this episode of Economic Update, Prof. Wolff begins with an overview of socialism's history, especially in the U.S. where it was widely discussed up to 1945, then repressed in the Cold War and now vigorously revived since the crash of 2008. He then examines socialism's basic economic criticism of capitalism in the 20th century.
In the second half of the show, Prof. Wolff goes on to show how and why socialism, as it is re-emerging now, is new and different.