Socialism vs Social Democracy
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EnglishVoice Age
Young Adult (18-35)Accents
North American (General)Transcript
Note: Transcripts are generated using speech recognition software and may contain errors.
many liberals do not know the exact difference between socialism and social democracy. What they have in Norway, Denmark, etcetera. To put it simply, social democracy is not socialism. It is capitalism. Under socialism, all of the means of production, distribution and exchange are controlled by the community indirectly, by electing officials democratically to control those means in a social democracy, only some of the means of production, distribution and exchange are controlled by the community, on most of it is privately owned. To put it, in layman's terms, social democracy is friendlier capitalism.