Richard Wolff and Prabhat Patnaik Discuss What Socialism Really Is—From Mamdani to Global Struggles
Prof Wolff on India & The Global Left
Economists Richard Wolff and Prabhat Patnaik analyze the viability of socialism in an era dominated by corporate power, imperialism, and political stagnation. They consider the rise of figures like New York Assemblyman Zohran Mamdani as a reflection of renewed energy on the American Left following movements like Occupy and the Sanders campaigns. The discussion contrasts progressive welfare policies with the deeper aims of socialism rooted in class struggle and public ownership. They explore the contested role of the private sector in a socialist economy and confront the complexities of revolutionary change, including whether single-party rule can ever be justified. The conversation frames socialism not just as a set of policies, but as a long-term struggle for systemic transformation in both domestic and global contexts.
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Is socialism still possible? Yes, in theory. No, in practice. I don't know anyone under 40 who's willing to fight to make it happen.
Richard Wolf has taught me so much about economics I never knew before. I’ve created a Substack to write about how I believe we can create a social democracy in America through the lens of a gen z American