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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.
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.