There is a running argument today over whether the United States needs to be more “socialist” in nature. Capitalism is getting pushback, to some degree, because of crony-capitalism. Yet, the main difference between capitalism and socialism is the extent of government intervention in the economy. And while the United States is labeled as a capitalist country, there are still areas of considerable government intervention, such as unemployment benefits, public schools, and spending on health care and infrastructure. Join Co-Hosts Dennis McCuistion and Jim Falk, CEO of the World Affairs Council of Dallas Fort Worth to discuss the difference between the two, why it matters, and where the U.S. stands on both.
Our guests include:
- Robert Lawson, Ph.D., Professor, Jerome M. Fullenwider Centennial Chair in Economic Freedom, O’Neil Center, and
- Lane Kenworthy, Ph.D., Professor of Sociology/ Yankelovich Chair in Social Thought, University of California, San Diego.
Capitalism affords economic freedom, consumer choice, and economic growth. A capitalist economic system is characterized by private ownership of assets and business. A capitalist economy relies on free markets to determine, price, incomes, wealth and distribution of goods. Socialism, which is an economy controlled by the state and planned by a central planning authority, provides for a greater social welfare and decreases business fluctuations. A socialist economic system is characterized by greater government intervention to re-allocate resources in a more egalitarian way. For those who want more of a welfare state, then socialism is an option, yet expect more taxes. If you want less, then opt for less government spending and more capitalism.
Tune in to hear more of what our experts have to say.
For more information: contact Niki McCuistion, Executive Producer/ producer, 214-750-5157, firstname.lastname@example.org
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Niki McCuistion, CSP
Co-founder/ Executive Producer, Certified Speaker, Coach, Consultant, Strategist in organizational culture.
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