Program Description
This episode of Economic Update features an exploration by Professor Wolff of how Libertarians defend capitalism by saying its many current flaws/faults flow from the state's economic interventions, not from the system itself. He then explains why Libertarians oppose socialism as another, even more, state-dominated intervention into the capitalistic system. Prof. Wolff then offers a critique of Libertarianism based on Capitalism's long history of strong state interventions and socialism's long-standing anarchistic components. He goes on to wrap it all up by inviting Libertarians and Socialists to find potential points of agreement against capitalism.