A socialist is the leading candidate to be the next mayor of New York City, and younger Americans increasingly support socialism. But what is socialism and is it a good thing or a bad thing ?Victor starts this new series on socialism by looking at profits. First, he makes the case against profits, before laying out why profits are so important. That includes understanding what profits are in a free market: The reward a company receives for making a product someone wants at a price someone is willing to pay. Parental pause point questions: 1. What comes to mind when you hear the term "socialism"? (3:07)2. What's appealing about the argument against profit? Does it make sense to you? (10:47)3. Is it uncomfortable to think that an idea you personally disagree with has appealing arguments? (12:13)4. Do you think the world is mostly static or dynamic? (15:04)5. In a system of free exchange, why does profit exist? (19:09)6. Have you thoughts on profits changed? If so, how? (28:38)For reference, The Great 8 questions are:1. What happens next?2. Has this been tried before?3. Is there a principle involved?4. What are the trade-offs?5. What do you mean by that?6. Is this an appeal to emotion or logic?7. Am I focused on the speaker or the argument?8. What does the Bible say?

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