Cowboy Economist Tells Us How to Recognize a Socialist

The Cowboy Economist is John Harvey, PhD, who has started making really funny educational videos about econonmics.

They’re worth sharing, so I am.

John draws a distinction between big S socialism (Karl Marx) and small S socialism (Bernie Sanders) in a way that clearly distinguishes them.

The two definitions are below. As he says, they’re quite a bit different.

Socialism is the distribution of a good or a service by a means other than income.

Small S socialism, per the Cowboy Economist

Socialism is the social ownership of the means of production.

Big S socialism, per the Cowboy Economist

To further illuminate his meanings, I bring you, without further delay, The Cowboy Economist, and his advise on how to tell if someone is a socialist.