China’s State Capitalism Stronger than our Private Capitalism

Or:  China’s “State Socialism” Stronger than our “Corporate Socialism”

After his good explanation (shared here two weekends ago) of how a socialism-inspired economy – best described as state capitalism – boosted the Soviet Union so incredibly well prior to its political collapse (yes: political, not economical!), Richard Wolff moved on to describe China’s route in another video. Unfortunately, this report is below his usually very high standard of deep insight and good explanation, which is why I share this episode reluctantly and only with a longish commentary.  Continue reading “China’s State Capitalism Stronger than our Private Capitalism”