Posted 3 years ago on May 25, 2014, 10:31 a.m. EST by struggleforfreedom80
This content is user submitted and not an official statement
Some people (including on this forum) seem to be a little confused about what these words mean. So let's just go thru them real quick.
So what is capitalism?
Capitalism is a system with private ownership of the means of production. There's of course more to the system than that, but it's this that characterizes capitalism. If there's no private ownership of the means of production, it's not capitalism.
Noam Chomsky on Capitalism: http://www.youtube.com/watch?v=VYW1SdQCM7s
Richard Wolff on Capitalism: http://www.youtube.com/watch?v=YMdIgGOYKhs
Read more here: https://occupywallst.org/forum/the-case-against-capitalism/
So what is socialism? Socialism is a system where there's no private ownership of the means of production, but instead collective ownership of the means of production. In other words, production would be run democratically by the workers.
Noam Chomsky on Socialism: http://www.youtube.com/watch?v=K4Tq4VE8eHQ
Noam Chomsky on Libertarian Socialism/Anarchism: http://www.youtube.com/watch?v=rxYth0ktPsY
Read more here: https://occupywallst.org/forum/the-alternative-to-capitalism/
I hope this cleared things up a little.