There is no capitalist conspiracy to keep the Marxists out of economics. For Rick, this exclusion reflects a fear of Marxism and socialism on the part of the economics profession.īut I beg to differ. Rick is a proud and committed Marxist, and as you’ll see, he’s bothered by what he takes as the purposeful exclusion of Marx from the mainstream of economics pedagogy, research, and publishing. That conflict is the topic of my latest debate with the economist Richard Wolff. Still, given the choice between socialism and capitalism, I’ll take capitalism any day. It’s possible that the US could even learn a thing or two from these nations, at least when it comes to protections for our most vulnerable citizens. But there are plenty of functional social democracies in Europe, where markets and strong social safety nets coexist more or less in harmony within stable, prosperous societies. The specter of these regimes haunts the American political imagination, conjuring up images of work camps, famine, and purges. That’s partially a result of its most extreme and disastrous iterations in the twentieth and twenty-first centuries, like Stalin’s Soviet Union and North Korea under the Kims. The word “socialism” gets thrown around a lot these days, and often inaccurately.
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