In this episode of Wolff Responds, Richard D. Wolff clarifies the distinctions between socialism and communism, prompted by what he perceives as Mr. Trump's confusion on the topic. Wolff explains that no country has ever been truly communist, and that the term "communist" typically refers to a political party advocating for a socialist economy. He details the historical divergence of socialist and communist parties following the Russian Revolution, and outlines three types of socialism: Scandinavian-style with significant government regulation, the Soviet model with government-owned enterprises, and the Chinese hybrid model. Wolff defines communism as an economic system where enterprises are owned and operated by the workers themselves, eliminating the employer-employee divide, a concept that has historically appealed to workers and is resurfacing as capitalism faces challenges.
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