In the video you've just viewed (interview of Leo Panitch by The Real News), Panitch, an avowed Marxist, suggests that a remedy for the present economic crisis is to nationalize banks and large manufacturing corporations. In the next breath, he acknowledged that "the state as presently constituted is not very democratic." This interview was taped in 2009, so Panitch should, by that time, have been aware that "the state" (meaning the capitalist cabal's puppet governments in all nations) is not only anti-democratic but totalitarian!
Panitch and Paul Jay, the interviewer, opine that the mere movement toward nationalizing banks and corporations would at least allow for a movement toward democratization. Again, they deliberately choose to ignore the fact that "the state" (national capitalist governments) have created dictatorships, not democracies. Panitch recognizes that capitalism is, by its very nature, anti-democratic, but he ignorantly (or duplicitly) opines that after a major capitalist economic crisis the state may learn how to better control capitalism. No way!
Capitalism must be replaced by cooperative commonwealth communities, not tinkered with by nationalization of corporations and banks.