Dr. Harriet Fraad joins Elaine B. Holtz on KBBF-FM 89.1 to talk about Communism, Socialism and Capitalism.
Dr. Harriet Fraad shares the definitions of Communism, Socialism and Capitalism and the historical movements using these as banners. Dr. Fraad discusses the concept of class as to who is producing the goods or services, who profits from the sale, and who distributes the product. In Communism the workers producing the goods decide how to share the profit, like in Co-Operative companies in this country owned by the employees like Alvarado Bakery. In Capitalism the employer decides how to share the profit but often sees the employees as burdens to the profit rather than generators of profit. In Socialism the employer must abide by regulations in sharing the profit with the employees as a form of regulated Capitalism. The government form taking on the banner of these economic systems can be democratic or dictatorial, and that is where vigilance of citizens is needed as changes are made. Dr. Fraad discusses the anti-regulation movement coming to a head under President Reagan leading to our present inequitable society.
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