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Is an idealized form of socialism possible, and if not, why not?

Aaron Ross Powell
Director and Editor
Trevor Burrus
Research Fellow, Constitutional Studies

James Otteson is the Thomas W. Smith Presidential Chair in Business Ethics, and Teaching Professor of Political Economy at Wake Forest University.

James Otteson is the author of The End of Socialism (2014) and is a professor of political economy at Wake Forest University. This week he joins us to talk about socialism and explains several problems with the philosophy’s methodology that makes it unworkable in the real world.

What exactly is socialism? What’s the distinction between socialism and corporatism? Why doesn’t socialism work?