The title of the debate was Happiness: capitalism vs Marxism and it was one of the most eagerly awaited events in the academic world, as it featured two ideologically completely different thinkers.

The initiative for the debate was made by Jordan Peterson in November last year as he visited Ljubljana to promote his book. The tickets for the Toronto debate sold out quickly, with resellers charging extreme fees - as much as 950 dollars for a seat.

Peterson admitted that capitalism produces inequality, but added that it also created wealth for the poor, while all other systems produced only inequality.

Žižek acknowledged deficiencies of communism and communist regimes. He spoke about China and its rise since it added the capitalist system and then asking the audience whether the Chinese were happier now than they were under communism.

Žižek sees equality as an opportunity for an individual to pursue creative and personal aspirations instead of just trying to satisfy basic conditions for survival.

As Peterson is strongly in favour of profit as a motive for achievement there is no surprise that he will keep the profit from ticket sales, while Žižek will donate his for charity.