Support for socialism is surprisingly strong, especially among young Americans, ages 18-29. According to recent polls, they are more likely to have a positive view of socialism than capitalism.
Despite socialist economic failures in Venezuela, Africa and Eastern Europe, today's promises of free health care, college loan debt forgiveness, mandatory stock ownership for employees, and guaranteed income look increasingly attractive to a large group of voters in the U.S.
"Seriously debating socialism gets us talking about a good society really is and the philosophical, economic and political foundations that underlie it," wrote economist Emily Chamlee-Wright this month in The Wall Street Journal.
While believing that "competitive and open markets are the answer", Emily tells us in this episode that the debate over socialism allows us to challenge the flawed system of crony capitalism and discuss fundamental moral questions about how our economy is organized.
Emily Chamlee-Wright is President and CEO of The Institute for Humane Studies at George Mason University.