Dialogue: Capitalism vs. Socialism

October 8, 2019

Socialism used to be a dirty word in American politics, but many of the candidates running for president are openly suggesting some socialist policies might be a good thing for America.

A recent Harvard Caps/Harris poll of 1,792 registered voters found 56 percent of 18 to 24-year-olds favor a “mostly socialist” system. The same is true of 48 percent of those aged 25 to 34. So, why is the idea of socialism so appealing now? And, three decades after the Soviet Union’s collapse, what does socialism even mean?

We discuss the pros and cons of capitalism and socialism with Rea Hederman, executive director of the Economic Research Center for The Buckeye Institute and Bob Fitrakis, professor of Political Science at Columbus State Community College and co-founder of the Democratic Socialists of America. The event was moderated by Mike Thompson, chief content director of News and Public Affairs for WOSU Public Media.