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3:53 Marx and Engels basically coined the term "communism", so equating communism with Marxism is perfectly reasonable. Marx and Engels also used the terms "communism" and "socialism" interchangeably, and the idea that socialism was a transitional phase that would lead to communism was introduced by Lenin, in the 20th century. The guy is clearly talking about the Leninist definition of socialism as a transitional period, where the state controls all property.
4:20 Socialism (in the Marxist/Leninist transitional-sense), absolutely is the state ownership of the means of production. To quote the Communist Manifesto, "The proletariat will use its political supremacy to wrest, by degree, all capital from the bourgeoisie, to centralise all instruments of production in the hands of the State". Do you understand the meaning of the words "centralise all instruments of production in the hands of the State"? – "this is basic shit."
5:03 Yes, you are restricted from owning a business under socialism, that's what the abolition of private ownership of the means of production implies. How exactly do you think people would go about abolishing private ownership of the means of production, or abolishing markets, without criminalizing private business ownership?
5:25 Your ideas aren't nuanced, they are muddled, and you're being totally obtuse – obviously he is talking about socialism, in the common, Leninist, transitional-phase sense, where the state controls the means of production! Seriously, this should be obvious.
6:03 "it's not like you can have the KGB come down and . . . throw you in the gulag if you try to make a lemonade stand. It's just that because markets have been abolished . . . starting a business, again, . . . how would you do that even? " How do you propose "abolishing markets" in the first place without outlawing private ownership of the means of production (which is the criminalization of things like running a lemonade stand for profit)?
8:14 In the Marxist/Leninist framework, socialism is the transitional phase between capitalism and communism. So, in your mind/according to whatever school of thought you belong to, what is the transitional phase between capitalism and socialism, and what is the difference between socialism and communism? I'm genuinely curious.