The BIGGEST LIE About Capitalism DEBUNKED
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- เผยแพร่เมื่อ 7 ก.ย. 2024
- Capitalism, we're told, has lifted billions out of poverty and is the driver of prosperity for humanity. Here's why it's a total nonsense.
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stop rubbing your right eye! go and see a doctor, it looks like a potentially serious infection.
Pop some saline in your eye for immediate relief. If you don't have any, just add salt to warm water and splash on your face - tiny stingy first but it will feel better quickly.
You should take a look at book called the forth turning by Neil Howe, it was wrote back in 1996, it goes through society starting at the silent generation, the Gi generation, boomers, 13 (gen x) and millennials. Talks about four circles of society and how they impact each other, it’s scary the predictions he made of the 00’s and onwards. This wrote about US society, but it’s applications to British society is just as impacting. I think you’d find it a fascinating read Owen, if this message ever gets to you and you find the time to read it, love to know what you think. Could even make a great segment for a pod cast
I hope your eye is okay Owen.
Weird to hear you talk about an old and textbook racist myth of rhe noble savage. They deserve better. The vikings got their asses kicked by the locals when they tried to settle.
For me its simple to see that capitalism has failed. I recall as a kid in the 70s (im in my 50s) that ONLY my dad needed to work to support and raise a large family - yes we didnt have excess or luxuries but we had a roof over our heads and food and heating and we had day trips and a family holiday each year. Plus we had free dental treatment, free prescriptions. Nowadays you see families struggling with even both parents working for less
I too am over 50 but don't remember prescriptions being free. In fact it was a Labour government which (re)introduced charges in 1968. It was a conservative government (Major) that reduced the age for free prescriptions for men (to 60 - same as Women) in England. I remember my Dad being furious that a Labour government should start charging (I think they had probably promised they would be free in the election - U turns are nothing new). :-).
I don’t think capitalism did this, it was culture.
A leftist culture that hates the family.
I remember if you were out of work you had free prescriptions, and I’m 54 .
@@NetZeroNo I rember my prescription being free last week when I picked up a month's supply of meds. Dissolve the failed UKs now🏴🏴🏴🏴🏴🏴🏴🏴🏴🏴
@@tutstut6909 I forgot to mention in that era it was still the time of free school meals
I think the greatest lie of capitalism is that we could not have democracy without capitalism.
Why would you want to have democracy - that fool invention of a psychopath?
I hope you've had that eye looked at, looks very sore. Capitalism has had its day, hence capitalists vociferously and desperately arguing it hasn't.
Yes, let's empty the cities and start again at the year Zero.
The American auto industry is the biggest example of this
I always think: how can someone sleep soundly when their neighbors house is on fire? Societal discontent is contagious. Poverty is a national security matter and billionaire govs like Rishi's ignore it at their own peril.
So how many neighbours do you share your income with???
Am I my bother's keeper? What is it to me if some fool deliberately sets fire to his dwelling?
There*is* No poverty in England.
Your wits are addled by religion.
Socialism has been propping up Capitalism for decades.
Very true, and it’s the rich who benefit the most from socialism, with their tax breaks, incentives, loopholes and simple handouts inaccessible to the majority of the population.
Starmer certainly will, though not sure whether he counts, as he is a Tory..
Do you have an example?
@@elcristoph7380 Food stamps for people that have a full-time job. Bank bailouts. Gas subsidies. The police and the military.
Rubbish. Socialism does not work.
Just take a look at society in the UK and US, poverty is on the street more potent than ever now.
Here in USA everyone mentions LA homeless but every City the homeless rate is growing In even cities that were literally American powerhouses during WW2
Society also assumes a homeless person smells or lives on the street
There's many hidden homeless too
I think the poverty line should be placed at £ 250,000 a year. everything from that figure down is chicken feed, as a certain politician will be happy to tell you
Given that poverty means no food no shelter no clothing no warmth, there is no poverty in England
@@vhawk1951kl maybe thats YOUR definition but thats just pulled from your backside
George Carlin, "It's a big club and we're not in it."
If you decided to deliberately create a socio-economic system that would transfer vast wealth into the pockets of the few, whilst not meeting the basic needs of most of the people on the planet, whilst also destroying the planet, what would you do differently from what we're doing now?
I'd also like to add that "Our World in Data is a project of the Global Change Data Lab", and "Global Change Data Lab receives most of its revenue from private grantmaking foundations and individual donors including the Bill and Melinda Gates Foundation"
ah, the circle of life.
Well said Owen. When people say capitalism has enabled society to develop, i just say society has developed in spite of capitalism. If anything, capitalism is just a barbaric force holding humanity back.
Im also currently making a youtube video along these lines.
Thanks for sharing.
You will need to look at different videos to this one. Owen didn't know much about economics obviously
It's because of capitalism we have poverty
Corrupt governments and central market interference with the economy is why we have poverty.
@@tutstut6909 It's a fact. Before capitalism there was no poverty, you farmed for yourself... Wakey wakey.
@@tutstut6909 yes
No, poverty, starvation and inequality all existed before, just yoir master wasnt a ceo it was your lord, who would take a sizeable chunk of your produce and often owned the land you lived on.
This is not to say capitalism was better, the 1700s and 1800s things actually got worse due to extremely long workdays and no health and safety.
Things only began to improve in the late 1800s with limited government intervention and legal recognition of trade unions, and only really took off after WWII under Keynesianism.
USSR, Cuba, Cambodia, China under Mao ?
The trouble with capitalism is that it promotes the love of money.
You often hear people say money is the root of all evil...
But that's not quite true... it's the LOVE of money that is the root of all evil.
Money in itself doesn't DO anything: a coin is incapable of an evil act... it is simply a coin.
...but the love of money: the hunger to acquire more and more and MORE - with no regard for any consequence or damage that feeding that hunger might cause... that is where the EVIL lurks:
When lives are put at risk....
When corruption and unfair actions drive profits up by bleeding money from everyone else...
When damage is done to the planet/flora/fauna...
All those evils and more - perpetrated in the insatiable hunger for ever greater profits... the love of money!
Well said! You nailed it.
Bossy little pedant aren't you?
Stop rubbing that eye! You’ll make it worse.
You are sound, Owen. Love to hear this, although the urge to skip country is very strong. I feel like running away from here, but my family are all in Turkey, which makes Tory Britain look somewhat better. Even your generally optimistic outlook has been kinda grey, man. What to do? :(
Owen Jones reminding me once again, why he is not an analyst, economist or historian..
I was expecting a talk about how markets, and ownership don't generate wealth... they clearly do generate wealth.. its a question of how that taxed and moved around..
Finally!! Hickel's analysis getting some platforming! His book 'The Divide' is a must-read.
capitism is self explanitory...greed
Thank you Gordon Gekko.
Their has never been a free market in the history of the world that has ever been a suck-cess.
There
The simple economic truth is, socialist projects like the NHS massively benefit companies' profits, as they do not need to worry about healthcare or illness anywhere near as much. Another fact is that people who barely earn enough to survive simply do not spend on unnecessary things. Raise peoples pay to above the cost of living and continue to increase it at minimum of inflation, people will spend, businesses will profit and the economy (so precious to capitalists) will grow.
That's not what socialism means.
@@garrett2439 where are you taking this? Police state, or cooperative ownership of the means of production?
@@696190 Worker control of the means of production. Not "co-operative" whatever you might specifically mean by that.
I have heard it said that Musk deserves every penny of his billions because he works 24 hrs a day.
If that's true, he does deserve more than someone who only works 8 hrs a day.
Three times as much.😂
yeah, but he's a genius /s
@@keithparker1346 Einstein was a genius buddy. Musk is just a salesman.😉
@@gregsmith7821 /s is shorthand for sarcasm - I think Musk is a terrible person just to make it clear
Elon is a true genius and not a salesman. He does suffer from Aspbergers which explains his odd dances. Elon is the driving force in all his companies - no one or no country has learned to land a rocket for reusability, Elon worked that one out.
@@mallamal5578 Shotwell and her team did that, not Musk!
10 dollars a day? I lived on £70 a week- a tenner a day, I did not have any luxuries, if something I needed broke, I was screwed. Energy and food were massive concerns. Not like if all of us mucked in and took over public land to grow food to share, no the concept of money is that we should hoard and compete, not work together. Try and establish a farm on that big vacant plot of land the council is doing nothing with and see if they let you!
I agree with the conclusions, but this analysis is deeply flawed. Major problem is that you can't just pick an arbitrary monetary value and apply it globally. Essential goods cost different amount of money in different countries. That's why a "substinence basket" is usually used. This defines essential goods based on local prices and is a much better measure. If anyone is interested, an article titled "Capitalism and extreme poverty: A global analysis of real wages, human height, and mortality since the long 16th century" was published in January on this topic. Available for free at sciencedirect and likely other places.
The issue isn't whether capitalism or socialism has failed. Neither is true. Both work as they should. The question is are you happy living in a country whuch is exploitative. The only viable solution is a mixed economy which has safety nets against either one going too far
Well... The US with its agricultural outcome could not only end poverty in America, but the whole world in merely a few years. But it chooses to make a human right a privilege for the White Bourgeoisie, so they only allow innovation that benefits the few, hence ultra-processed foods and the highest obesity, cancer, and heart failure deaths in the developed world.
I have lived in Beijing for number of years. Been visiting since late 1990’s. Opening up trade and market economy has seen massive reduction in poverty in China. The government does do some things well such as infrastructure. The same process is happening in Vietnam.
You can't define poverty in terms of personal monetary income. It has to be defined with reference to the locality and the costs involved in living there. So a personal monetary income which would make you poor in Copenhagen will make you well off in Marrakech.
Proof if any were needed that inequality is a global problem.
Why does he say China is a unpleasant dictatorship? Don't know much about it myself but I thought they still have elections and stuff?
There have never, had free and fair elections
The left love you
@@peninsulageneralgoodsstore 🥰
@@peninsulageneralgoodsstore Since the left don't support China, no they don't.
You cannot be this ignorant surely.
$1.90 is £1.55 going tourist rates not money transfer between two verified international accounts so not even a chicken bake from Gregg's, how the hell am I meant to feed myself.
You can't buy a house on "normal" wages these days and pretty soon you won't be able to afford to rent one either.
Capitalism is doing fine thanks.
Work houses.
That's what it will be again. At best and if we're lucky!
Radical solutions are needed. A start would be to adhere to financial sincerity. To remove the perpetuation of a debt fuelled economy would be the initial solution too. Stop profits of debt. Stop the profit from over producing products... like vehicles, food, plastics and weapons.
Thanks, Owen.
This should be taught in schools.
Invest in people and the the things they need for society to function, that raises standards of livingm Pretty simple. Roll back things like access to healthcare and education to 19th century standards, you get a 19th century standard of living. The trick is pretty simple as well, they stand to make even more bottom line if they aren't required to invest in people and society. We can't all be fast food workers working for nothing.
Capitalism in the context of a regulated free market economy with a large state sector, particularly with state ownership of monopolies and public utilities. Basically the post war concensus which we had, raised millions of people into the middle class.
I would say that was not 'free market' in the neoliberal sense and also was largely due to technological advances. By now we should all be sitting with our feet up if wealth was shared equally
Don't know what's wrong wiht your eye, but you should really try to stop touching/rubbing it....
The Australian Aborigine existed happily (and peacefully) without capitalism for 50,000 years. Since it's introduction they are mostly below the poverty line. Now it's almost a crime to diminish the flow of capital.
Excellent statistics
Being enslaved by fiat vapor printed from thinair....the bigger issue is weaponised liquidity, it's from the printing press to acquiring real things for the elites
I look around everywhere and I cant see capitalism
This difference between the top and bottom of population income was explained to become better with the trickle down effect since the 1980s. That was the biggest lie.
Similar with the Covid vaccines, mostly developed with public funds, but big therapeutical companies racking in the profits..
that's because we needed to vaccines quickly.. would you rather no public funds were used and we were all still in lockdowns?
The long and short of capitalism is this: the wealth of one nation or individual necessarily implies a deprivation or impoverishment of another.
In a capitalist economy, one can only hope that one doesn't end up being that individual who is so impoverished ( to further enrich the already rich) that life ceases to have any meaning to the oppressed and deprived. You don't need to be a rocket scientist to work that out.
Capitalism is fine - but *ONLY if it is in the context of a Mixed Economy, linked to a government which espouses and implements PROGRESSIVE POLICIES.* This definition is accurate for both the 1945 Labour Government of Clem Attlee, and the current governments of *Norway, Finland and Portugal.*
Where capitalism is *NOT* fine is where you have an extreme Free Market (Neoliberal) government such as we now have in the UK.
and Finland is starting to wobble a bit... 🙁
Why don't you tell homeless people in Scandinavia how great it is over there?
Capitalism =/= trade
@@markwelch3564 : Has wobbled over a decade now. Happens when the government is too busy expanding and plunging into debt instead of ... shrinking.
@Historia, Magistra Vitae what's the big deal about debt? Business does it all the time, and if spent to grow the company, everyone sees that as sensible
Same goes for countries borrowing to invest and grow their economy. Should be common sense, no?
You look tired, Owen. Dark circles under your eyes. I hope it means you've been staying up late having fun. Or working. Either way, please take care of yourself.
I think he has a blackeye
@@piccalillipit9211 So do I.
I think it's conjunctivitis
Don't forget that capitalism relies on public funded education, transport infrastructure, public funded health, public funded security and defence etc etc
These graphs of the reduction of poverty are absolute nonsense.
Think of Zimbabwe in the recent economic disaster the country had hyper inflation.
So if you pick a notional amount of Zimbabwe dollars as a definition of poverty, then as their mega inflation happen more people would have started to earn over the notional amount. Which isn't a sign of less poverty, it's a sign of inflation.
If you want to draw a graph of how many people are in poverty you need a more complex definition of poverty.
For example, write a mathematics equation that takes into account the changes in the cost of living and people's earnings.
Great video Owen. So without a healthy public sector, we see a lot less benefits as a society, but also a let less research conducted for free market capitalists to exploit? How does an economy function after this point? Does that explain why we are where we are in the UK?
Capital is the vampire living off the blood of living labour.
People think mass poverty is a by product of capitalism when it's actually a pre-requisite for capitalism to function.
Then there is no capitalism for clearly there is no poverty; in England no-one has absolutely no food no clothes no shelter and no warmth whatsoever, thus there is no poverty in England, so if your proposition is no poverty, no capitalism, plainly if that be right, there is no capitalism by your own argument.Behold how religion stupefies the reason.
Economic anthropologist ......never heard of that one before .
I always thought that capitalism only profited from those that are left without, surely my having the thing and you don't is your envy and my joy, or similar...
@springspringspring60 as long as we continue to ignore those without as they simply are not trying enough to lift their heads from under the boot of tyranny; quite right too...
Capitalism on its own hasn't reduced poverty, but it has been used as a tool to liberalise economies and so it has enabled a certain demographic in developing countries like China, Brazil and places in Africa, to own their own businesses and create their own wealth. However, those that use the phrase 'Capitalism has lifted the world out of poverty' only compare liberalised economies to socialist states like Cuba, Venezuela or North Korea whilst ignoring countries that take a more moderate line, like Owen says like more liberal or social democratic countries like Japan, Germany, Australia, etc.
cuba is doing very well considering 70 years of embargo. better health care than usa.
@@drakekoefoed1642 I admire Cuba's stance against embargos, but we have seen the Caribbean Island open up more to tourism and free market forces in recent years that have all enabled the nation to strengthen its economy. It certainly didn't follow the path of Venezuela or North Korea. However, despite developments in Cuba's economy, I still think it hasn't been enough to stem the tide of 'dissidents' washing up on the Florida coast, albeit considerably less than it may have been in the past (I don't have the statistical data to say exactly what recent figures may be ).
@@denecroxford2475 So tourists from Capitalist countries prop up Cuba, So less people are fleeing.
It's bit like that other big lie, "The public aren't stupid." In each case, there's a wealth of evidence to undermine each lie.
Capitalism is rich people filtering down wealth and technology.
Honey conjunctivitis is a new symptom of the new covid strain that just came out, I got my hands on it already, been in bed in week it’s … fab 😅
I'm a small 'c' Conservative. (Probably now a 'Lefty' by UK political leanings) And completely agree with Owen.
I hope no one gave you a black eye! Get it looked at. Stay safe pls
'Read 'Technical change, globalisation and the labour market: British and American experience since 1620'' by Bob Allen. IFS 2021. It debunks the simplistic points made here.
Just a question. Whats a better system?.
It's Nicolai Yezhov reincarnated!!
But they don’t earn over a million pounds a year….
So refreshing to hear what's lying in your gut spoken about with scrutiny and actual facts. Many thanks for your great myth busting debates.
You are clashing with Novara !
whoooops sorry, I'm in the US and got my time wrong!
As the song goes she was poor but she was honest.Not a new song.
It's a view point seldom put forward, indeed it's usually totally opposite. How many times have we heard the PM saying its essential these massive private companies make billions in profit, so they can afford to reinvest in research that they then make even more on selling any benefits back to us
Yes things are not improving for the working man under free market capitalism, families once had a bread winner but now both parents have to work to pay the bills and feed the family. Rich getting the cream low paid workers the crumbs
'Capitalism" has definitely made a handful of people very rich?! You know....like, Bill Gates?!
and what policy would you introduce to change that?
@@elcristoph7380 Definitely not leaving things the way they are which is undoubtably your argument? 'You cannot change a problem with the same level of consciousness that created it': Albert Einstein. Hence self-serving arguments prohibit change?!
@@garyhowtobluetoothjblheadp3583 I asked how you would change it.
Yep this is what's happened in the uk.
Didn't realise Owen Jones was so pro war? How comes most of the things he listed come from the defence industry? Perhaps that's the only example???
Yes it does.
A scourge on all your 'isms'. More power to the third way!
Ah yes, the third way. Also known as "centrism". A scourge on your ism!
Spot on. 👍
Interesting stuff. Could you add a link to that essay you mentioned?
Great video, another was WiFi created by CSIRO, the Australian Government funded research organisation.
Great vlog
the figures going back don't matter much compared to any change at the time capitalism was introduced.
on innovation, consider how much of it is done virtually for free by people who are getting wages. even engineers are workers, and make very little compared to the numbers around even a pretty small innovation. so the rentier is incentivized to hire an engineer? oh, well, then, socialism would never have thought to hire an engineer, or to send him to school free to add value to the national workforce.
castro said show him a successful capitalism in latin america or africa. of course they are neocolonies systematically looted by capitalism and they are all poor.
Owen's quote..... "Real data on poverty has only been collected since 1981, so if you go back before then your on dodgy ground"....Having admitted he doesn't have any data to back up his argument, he still goes on to make it.....hilarious!! 🤣🤣🤣
What is the cure for Capitalism?
Capitalism isn't ill. It's just abused by the rats that own it and play it's game of profit before mindfulness. An example would be, massively over producing food and wasting millions of tonnes, while children, where the aforementioned Rats mine diamonds and gold, starve to death.
depends what you want..
@@elcristoph7380 The great English philosopher Freddie Mercury said " I want it all and I want it now"
I've been reading about Marxism and although I dont know the full story, the first thing about it that amazes me is that it was written about predominately by someone called Marx. What a coincidence. It's a truly strange world
Thank you.
The 'cost of living' in each country (and even by internal regions) varies even now and throughout history and has/had zero to do with the value of the dollar anyway.
So yes. Lies, damn lies and statistics.
Did someone fart on your pillow Owen? Nice bit of pink eye… 😂😂😂
We know that the opposite is true
So you are ok with billionaires going to space?
@@michaeladkins6 sorry Michael, I don’t follow you. My point is that we know capitalism isn’t the cure for poverty. The opposite is true in my opinion. Am I happy with billionaires going to space? As long as they stay there, yes.
@@dopelyrics6223 Rich keep getting richer and they pay no taxes. Every corporation makes every decision based solely on how much profit they make.
@@michaeladkins6 indeed they do Michael. Sickening isn’t it?
fantastic video
0:03 - because I got high
Dear Owen Jones Esquire
I have just had a comment, deleted from my local newspaper . I pointed out that the upcoming coming coronation of King Charles is to be held on the 78th anniversary of Victory In Europe day.
I was pointing out or asking who would be the victor because it certainly would not have been Me or You
This comment, apparently breaks their rules. I’m not quite sure how but there you go .
Do you have any thoughts?
Yours Sincerely
Piquet Esquire
I'm just out of forest. Grateful if somebody has tips on home delivery.
Owen, you should read the works of Ayn Rand her views line up with yours perfectly.
This a great video, whose theme, as you said, need to be exposed further!
No one go to work, and let's see who creates wealth.
Well it was almost that during Covid and all we saw was companies like Amazon crank up their profits
Yes, but sadly those Latin American countries ran out of other people's money to spend, and many have stagnated, large structural projects remain unbuilt and industry that was build prior to socialist takeovers, are rusting away..they are broke. Venezuela's people have lost calorific intake, abandoned housing plans, rebellions by the upper-middle classes there trying to sabotage it by hoarding products,..and industry gone..its a shame and shamefully managed.
Look up the role of the US in sabotaging the economies of South American countries. Try again when you have a clue and your ignorance isn't so stunningly embarrassing.
I'm on £6.5k a year. What percentile am I?
Stop rubbing your eyes! Every video lol what you said is absolutely right as always, love your vids
Slap a used tea bag on that eye 3 times a day, and it will get better in a few days. If it doesn't see a doctor.
Is there another " ismn" that we haven't tried yet? What about Patriotismn .
😂
what about onanism?
Is that where you sell bits of your country to the highest bidder? Cos that's what the people who shout loudly about patriotism tend to do when in power
What about syndicalism?
What is poverty it’s a really interesting point. Not easy to define
Is our system capitalist?
Hey Owen you make me think of that quip about not drinking. It seems the same applies to thinking.., never think on an empty head mate.😁
Sure I heard 7 tenths of the world's population can't read ? Should we be going to Mars or should we get round to fixing all those to do jobs about the house first .