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Daniel Lyons' Notes

Steve Keen Marxism, Capitalism, and Economics Lex Fridman Podcast 303

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My Notes

  • 01:50: What is economics?
  • 1:11:11: What is socialism?
    • What Americans call socialist is a large amount of provisions by the state.
      • This is a parody of the word.
    • Strictly speaking what socialism actually means is the public ownership of the means of production, and no private ownership of the means of production.
    • 1:12:19: fascism (so-called national socialism) is also a parody of socialism.
      • This is not true socialism because there still is private profit and ownership.
      • Instead it is the state dictating the actions of the private industry.
    • 1:13:26: What does ownership actually mean?
    • 1:13:29: Why did socialism fail?
    • 1:16:51: Socialism kills innovation.
    • 1:21:00: We're running into a wall with Capitalism.

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Steve Keen Marxism, Capitalism, and Economics Lex Fridman Podcast 303
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