Edward Stuart on Capitalism vs Socialism vs Communism

Edward F. Stuart is a Professor Emeritus of Economics at Northeastern Illinois University, where he teaches courses in international economics, the economics of the European Union, comparative economic systems, European economic history, and macroeconomic theory.  0:00:00 Introduction to Prof. Edward Stuart 0:01:11 Difference between Socialism, Social Democracy, and Communism 0:03:53 Social democracy vs Welfare State 0:04:32 What is State Capitalism? And does that characterize China? 0:08:05 Is China "successful" economically, because of Capitalism or Communism? 0:12:50 Does Stalin and his regime deserve praise for raising literacy rates, health care, employment, etc.? 0:20:30 What about Mao? (same question as above / before) 0:23:23 What South vs North Korea says about Capitalism vs Communism 0:34:39 Why North Korea will collapse economically and politically imminently 0:35:50 Not "real" Communism: Why equality doesn't happen in Communist societies 0:40:03 Difference between economic collapse, and a Depression 0:41:03 The conditions for Depression (and how it relates to the current US predicament) 0:54:22 The current US tariff's on China as it relates economic growth / protection 0:59:23 Is the US economy currently headed toward another Depression? 1:01:51 Why printing money doesn't always lead to inflation 1:04:15 Hyperinflation and how to paradoxically solve it 1:08:14 "Communism has killed 10's of millions?" True. 1:09:41 "Capitalism has lifted more out of poverty than any other system?" Partially true. 1:13:55 Can slavery be blamed on Capitalism given Capitalism needs voluntary exchange? (+ an economics joke) 1:19:30 What is "black envy" vs "white envy"? And does Marxism lead to "black envy"? 1:29:21 What are Edward Stuart's biggest differences with Richard Wolff? 1:30:58 Where you can find more from Prof. Edward Stuart 1:31:33 Bonus: Economics vs. Physics Patreon *NEW*: https://patreon.com/curtjaimungal Twitter: https://twitter.com/bluthefilm Learn more about your ad choices. Visit megaphone.fm/adchoices

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Exploring theoretical physics, consciousness, Ai, and God in a technically rigorous manner. If you'd like to support this endeavor, then please visit the Patreon ( https://patreon.com/curtjaimungal ). Thank you for your charitable and kindhearted support. My name's Curt Jaimungal, a Torontonian with a degree in mathematical physics from the University of Toronto and I analyze various Theories of Everything from this analytic perspective, though more and more opening up to alternative approaches. The separating factor of TOE from other podcasts is its focus on depth even at the risk of limiting the audience due to how much detail we delve into subjects. Paralleling the intensity found in academic discourse, we're increasingly embracing a spectrum of unconventional ideas to conduct research during this podcast, rather than merely conveying existing information. Contact toe [at] indiefilmTO [dot] com for business inquiries / sponsorship.