this post was submitted on 07 Oct 2023
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Socialism

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What Happens to Rich People Under Socialism? - Second Thought (youtu.be)
submitted 2 years ago by ProdigalFrog@slrpnk.net to c/socialism@lemmy.ml
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[–] unfreeradical@lemmy.world 3 points 2 years ago* (last edited 2 years ago)

Socialism is the political movement seeking to transfer control of the economy from billionaires to the public.

As the video explained, billionaires are a problem only with respect to their role in society. We seek to eliminate the role, not the individuals. If they change their role, then they are not a problem.

Markets may occur in a socialist economy. Abolishing markets is preferred by some socialists, but would be feasible only if a viable replacement becomes available.