[398] In a 1952 letter to Coretta Scott, he said: "I imagine you already know that I am much more socialistic in my economic theory than capitalistic ..." [399] [400] In one speech, he stated that "something is wrong with capitalism" and said, "There must be a better distribution of wealth, and maybe America must move toward a democratic socialism." [401] King further said that "capitalism has outlived its usefulness" and "failed to meet the needs of the masses"
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For context, the incident occurred during the 2001 24 Hours of Daytona, a rare instance where the father-son duo entered as teammates
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