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Capitalism and Communism: What is the Important Difference?

Posted on January 28, 2025 by Political Economy Project

In this talk, the third in a year-long series, Professor Kohn explains why terms like "capitalism" and "communism" do more to obscure than to illuminate any real understanding of the economic world around us. Understanding the economy involves thinking clearly about the words we use to describe it.

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    In this talk, the third in a year-long series, Professor Kohn explains why terms like “capitalism” and “communism” do more to obscure than to illuminate any real understanding of the economic world around us. Understanding the economy involves thinking clearly about the words we use to describe it.