Any economic model is subject to flaws and corruption. Corruption, that is people, is the main problem with any economic model. However, it is clear that some are more inherently resistant to corruption than others. So many things depend on the people behaving in a fair and just manner.
The only social system that eliminates corruption is democratic totalitarianism because it removes privacy. No privacy - no corruption. Other options involve non-human governance, such as by open automated systems or AI. While humans don't like absence of privacy, machines don't mind being fully transparent in their job.
Capitalism is the best system when it uses a moral code! Any system with people is inherently flawed, but Capitalism allows for self determination and self interest. If I do what’s best for me and you do what’s best for you both parties win!
@@IllustratetoEducate The point you did not make : The Capitalism is a free open access "grazing land" called "The Market" and Everybody is grazing Profit from the Market to make themselves bigger so they can graze more Profit. The Market is a classical open access problem and therefore the inevitable Tragedy of the Commons scenario follows with all its consequences for the market and all who take part in it.
@@IllustratetoEducateHow is stocks capitalism? A currency is used to trade goods and services, not is a goods and services. Capitalism is only normal supply and demand math chart. Where does capitalism say anything about passive income. This word would be "slavery". To use a currency to make slavery. Communist is about a credit system like food stamps. A UBI of food stamps one can't buy Socialism is about a credit system one buys. Like postage stamps. Marxism is a credit system one buys. A stock. To funnel resources to the top Capitalism. Market trading in normal supply and demand math chart. Nothing about passive income.
Really loving your videos and I am getting myself more into them. While watching this video about Capitalism I was also writing some details that have been stated from this video and it has gave me some well informative stuff about this economic ideology. Thank you and I will be looking forward for more excellent content from you in the future.
@@IllustratetoEducate Adam Smith and Karl Marx did not see that free market with competition is a Tragedy of the Commons Problem which a government exacerbates or tries to mitigate....but never solves.
@@IllustratetoEducate Adam Smith and Karl Marx did not see that free market with competition is a Tragedy of the Commons Problem which a government exacerbates or tries to mitigate....but never solves.
Great content. Thanks for the video! The best social format ever. Attention, I didn't write the perfect one but the best one between those social formats that exist until 2024.
nah. things stay pretty steady without the inbred loser ruling bloodlines playing "hidden sekritt inbizibul handddd". even the stuff that goes in cycles naturally doesn't just wreck havoc and mayhem in busts and then send all the gambling addict weirdos flying to the top on a cocaine-n-crystal magic rocket, round and round again. THAT nonsense is engineered. and to know that the misery is huge at all levels... lol. the banality of evil.
I love capitalism. We are born in the greatest country on earth and we all have the opportunity to make a living. Some choose to trade their time for a hourly wage. Others choose to create jobs and hire people to grow a business. Then you have the ones who choose to cry about everything
Well, in my point of view, capitalism can be good but it is much much worse. You see, for us, people that were born in a certain place, with certain conditions, choosing our own paths is easy, but for most people, this is not the reality. Capitalism is based on individualism so nobody wants what’s greater for everyone, we only think of ourselves and then we defend the idea of only thinking on ourselves. The government and the media hide what’s not pretty, we ignore deaths and poverty everyday claiming that “it’s normal” and “for someone to be rich, someone else has to be poor” but that’s only true in capitalism. we have more than enough money, food and technology for everyone in the world (that’s a fact) we just don’t share it because we dont care, we don’t care about refugees, we don’t care about violence, we just care about what affects us because that’s what capitalism stands for. I don’t think that’s good, but idk people just say I tend to overthink (although I don’t think that’s bad)
Could you please explain how a person born in a poor family can start creating jobs and running a business all of a sudden? You have no options but to work a hourly wage job to make a living meanwhile spending your time and energy on trying to get a degree for a better job. It all takes years and leaves you with a debt for tuition.
@@ДжинТоник-с1п it’s not easy, I know I worked through school. I’m on my second career as a matter of fact. After I finished school got a job working for someone and learned as much as I could through working for five years for three different companies. 8-18 hour days and now am in business for myself. Right at this moment as I write this I have the freedom to be sitting on top of this mountain glassing for elk, deer and bear. I was never able to pursue my this bow hunting like this working for someone else. Also I used to be a drug addict homeless criminal. Growing up we were very poor. No electricity gas or water some times. Heated up water on a fire to take a bath and cook
@@sofiagoncalvesf Speak for yourself Sofia. YOU might not care about others, but that does not mean that ALL successful capitalists feel that way. YOU might feel that YOU must be FORCED by the government to support those who are worthy of help - but there are millions of us who do NOT need to be FORCED at the point of a gun to help others that WE deem worthy. Imagine the audacity of someone saying, "I'm compassionate and to prove it I am going to put you in a jail cell until YOU agree to be as compassionate as I am." People just keep getting more and more irrational.
@@ДжинТоник-с1пhard work my father was born poor in the 40’s and was the child of a single mom. He became a self made millionaire by busting his ass and saving, investing well. He never quit learning and improving himself. He was a master of many trades. My mother was abandoned at age 5 and was in and out of orphanages until age 8 and was adopted by her aunt they grew up poor. She and my father were a team. Always supporting each other and making a better life for themselves and their children. They taught us the value of hard work and determination. Obviously our country is in an economic chokehold and the problem isn’t capitalism it’s the federal reserve and corporate greed.
Marx's philosophy is a little bit misrepresented here. He didn't argue that workers would revolt against the system, he argued that its demise was inevitable due to its very design.
James Lindsay talking on woke and Marx; "And Max Horkheimer who designed the critical theory explained the critical theory. He said well, what we came to realize was that Marx was WRONG about one thing, CAPITALISM does NOT IMMISERATE the worker. It allows him to build a better life. So I developed the critical theory because it is not possible to articulate the vision of a good Society on the terms of the existing Society So critical Marxism criticizes the entirety of the existing Society everything as somehow needing to be subjected to Marxist conflict analysis but how is that to be done? They sought an answer through the middle part of the 20th century and World War ll breaks out the Frankfurt School comes to America" Source: YT search; James Lindsay shatters woke ideology Timestamp: 22:58
@@Time_to_Believe_in_Yourself the only reason capitalism improved workers lives is because during Marx's life nations started taking the capitalists into hand and disallowing their worst abuses. this by no means solved all the problems but by the time Marx had finished Das Kapital many of the policy changes he actually pushes had been done out of necessity. people keep ignoring what was going on in the bigger picture when Marx was alive and working on his book or they read the pamphlet and go no further. for a preview if you were a plant worker you were just this side of a slave. the boss controled the clocks that told you when you started and could leave (and a not insignificant number slowed the clocks to extend the work day with out paying for the extra time), your wages were poor, you could be beaten or fired for any reason, damage to equipment was docked from pay based solely on the foremans say so. if you were caught in a machine your family was often charged for the time needed to shut it off and extract you. these are just some of the working conditions of the time. my advise to people before judging Marx actually look up what he was arguing against and answer for your self "would you not stand against these practices?"
Two things can be true at once. Capitalism causes economic growth. Capitalism also exploits the poor and causes inequality. It apprears that the Governments role if using the laissez-faire approach is to ensure low cost means of production. Eg, ensures that the working class societies remain destabilized.
Why are people poor? They have no marketable skills. They have children they can't afford. They have no understanding of money They have no career goals So how is that capitalism's fault? What about personal responsibility?
your wrong on so much of that ok the man who is the person people literally use as the guy....Marx is the easiest to destroy and make the entire ideology crumble like a tower of cards... Marx and EVERY SOCIALIST advocate on earths argument against capitalism is the Pareto Principle....THAT IS 100% the argument......but NONE OF THEM OR MARX SEE IT... Pareto principle applies to communism, capitalism, and socialism too kid....only difference is in communism or socialism the top 20% of the Pareto principle are government workers....not people selling a good or service to willing customers.... AN ARGUMENT AGAINST CAPITLISM IS INHERENTLY AN ARGUMENT AGAINST FREEDOM
Adam Smith and Karl Marx did not see that free market with competition is a Tragedy of the Commons Problem which a government exacerbates or tries to mitigate....but never solves.
something that I find interesting is that the Boom and Bust Cycle is usually caused by more and more government interference in the market. Every time the government interferes in the market, it creates a bubble like the recent housing markets and the ones in the 2010s that eventually burst causing instability. The same can be said for the great depression where the government kept subsidizing the banking industry and promoting the early stock exchange.
Boom and bust is caused by the greed of the bosses and overproduction for markets that can not absorb all that can be produced. Capital is a social force that is controlled primarily for the benefit of private owners and to increase the value of the ruling capitalist class who controls the government as their executive committee. Of course the bosses seek to make themselves richer by any means possible. Bush was creating the ownership society and fighting an axis of evil to create a "New World Order" only to have the whole neoliberal project blow up in their faces.
@@ricardomurillo5205 They've had to enter as the executive committee of the ruling capitalist class to save the system. They can't use the ordinary and long drawn out methods of the bankruptcy courts. When they can't use profits to expand production because markets are full of unsold overproduction they drive up the value of fictitious capital until it collapses causing an economic crisis. That's been a feature of capitalism since the Dutch Tulip bulb crisis. You create paper values that you sell and trade in You can't help doing the things you do because you are driven by profits.
capitalism caused the trans atlantic slavery, its market and its continuation many famines and genocides were artificially created by capitalism in history that is violating peoples rights not only but taking them@@quatele
@@quatele At the end of the day the human right capitalism defends is the right to trade and privately own the capital which is a social force. A social force that must be set in motion if production is to take place.
Capitalism has always needed a enemy to scapegoat and blame for it's own failings, the current system where there must be 'losers' so there can be 'winners' is flawed and unsustainable and accelerating the pollution and destruction of the planet. Capitalism always crashes eventually by design, due to greed and corruption of the 3% and fascism is an inevitable feature when it does.
@@IllustratetoEducate 1) To sustain a free market You must tax the extreme concentration of Wealth and then give it evenly to everybody , again and again, so that the market can have customers (i.e. humans with money to spend). 2) Do not let foreign entities extract profit from our markets. We must extract profits from their markets.
Can't forget about things like the reserve army of labor - which actively prevents job creation; outdated ip laws - which incentive gatekeeping research and innovation forcing redundant labor; things like discrimination being reinforced and reinforcing the system - which strangles innovation; the fact that nothing profitable ever gets done unless done by government or small communities/organizations - for example the government made the smart phone and the internet; the fact that not everything good is profitable and not everything profitable is good - such as discrimination, workers rights violations, ignoring externalities such as food waste, union busting, climate denial - to be non-profitable is to be non-competitive, and to be non-competitive makes you an at-risk company, so when most companies make extra profit by paying their non-white workers less, the company that isn't is no longer competitive and has to pick up the slack, potentially needed to compromise their morals or risk going out of business. You see capitalism doesn't give anybody great freedoms, rather it binds all of us to obey the intricate system of Capital, business owners act in their best interests to keep their businesses running, and workers act in their best interest to pay rent, and all of this means the majority of people are going to suffer to give a minority extreme economic and political power. Also although Capitalism is supposed to work based off the successful reinvesting their wealth into the economy, those people don't have to, and can even choose not to - which is called a capital strike - and is useful for when the government does stuff those rich people don't like - displaying how even without paying money to government officials, the rich can still effectively control legislation and other political decisions.
The system of Capital is an outdated method to organize society, the support of it is nothing more than the repetition of the ideas of the ruling class, which become the ruling ideas via the power and wealth the class can afford on spreading those ideas. The funding for the ruling class ideas > the funding for other anti-ruling class ideas, therefore you will hear those ideas more, even if they're worse; just another funny quirk of capitalism.
You see before capitalism, most laborers owned and controlled their own labor or were part of a guild that each laborer owned and controlled. Now all the ownership and control is in the hands of the investors, leaving each laborer pracically slaves to Investors.
No, capitalism is based on the rights to peoples own property and labor, before capitalism commoners had no property and only borrowed it from whichever lord or king owned the land. Capitalism gives each worker the rights to their own labor which they use to negotiate a fair trade of value with the capitalist.
@@shnitzilhazel9957 The Right to own private Property and to own other peoples Labor is not freedom its a prison to those who dont have the power. Additionally investors are prioritized over workers.
@@forlorndream Its based on the individual right of a person to own property. In a true capitalist system, only the individual has the right to their own property-no one else, and that right is extended to everyone. That is true freedom. idk what you mean by prioritized though.
"welfare capitalism" is just another term for mixed economy. Pure capitalism is at its core Laissez-faire. This is why it is incorrect to refer to the U.S. as a capitalist economy, as laissez-faire does not exist except for in some very small areas of society. It's important for people to understand that blaming "capitalism" for problems they see in current society is by definition false blame.
People who are left behind have nobody but themselves to blame. Successful people study and learn how to produce goods and/or services that other people want and need. They EARN their success. Unsuccessful people never bother to learn anything worthwhile. They spend their lives doing meaningless things and wonder why they were left behind.
@@theintrovertedaspie9095 No.... it is NOT a generalized claim. Successful people ALL follow the same basic pattern... they figure out early in life what they are good at that could put them at an advantage in the marketplace... then they pursue that advantage by acquiring skills, knowledge and experience. When they see the marketplace shifting, they make adjustments.... but they keep going. Unsuccessful people usually just get jobs... they wait for someone to "give them a break" or a "hand up" instead of making their own opportunities. They grumble with envy when someone else gets ahead... but they never wonder WHY that person got ahead... or HOW they got ahead. Is it any wonder why MOST people are NOT successful. It's hard work. It requires effort. Most of you are too lazy for that.... so, you deserve what you get... or don't get. If that is too blunt... if it hurts your feelings.... too bad.
That doesn't make sense. In order for the person to profit they must provide a good/service people want. So their drive for profit means they need to have a drive to do good by us.
@@johnnynick3621 Wrong there are many reasons, not everyone gets the same start in life, the same opportunities, good advice support and guidance, some have learning difficulties, public school systems do not teach students how to think like a boss just a good obedient drones.
@@IllustratetoEducate God and All scientists do not know that the concentration of Wealth in the hands of an Owner happens in two ways: 1) The free market, no matter how much it is regulated, leads inevitably to extreme levels of Wealth concentration. 2) The exploitation of the Employee by the Owner, also, leads inevitably to extreme levels of Wealth concentration. The only sustainable solution is perpetual redistribution of Wealth from places of Extreme concentration (regardless if private or public) to every citizen evenly. A Repeated Redistribution is the only way towards a more equal society because nobody can stop the exploitation at the work place and nobody can stop the concentration of Wealth by free trade.
The positive and negative about the capitalistic system we play in without thinking. I heard on the news about a female who just out of a Uber car because they was going the wrong way, that the driver refuse to answer her, when she told the person they not going the right way. If we look at the direction capitalistic lifestyles are going, that the majority setting around watching it, and not saying anything. Every wrong turn they can see, every pot hole they can feel, and every accident they are in, but still set around like nothing is going on. What is a capitalistic system? Some think it is the way we see it, in how it designed us to play, in the irresponsible way. Ignoring all the things that brings a negative reaction on the economy we watching every day. Where the greedy takes the lead to bring forth our day in how we all should play. Ignoring how it bring forth setback to the economy, we call inflations, recessions ways. See it so easy to see when a person moving in the opposite way from the negative economy way. Who trying to seek out for a better way, but it is also so easy to force them to change direction, and for them to go back in the negative way. That just the capitalistic way to buy them off from going the opposite way. See a good capitalistic system educate the people to move forward together towards the future. The bad capitalistic system shows the people how to be like crabs, working together to hold each other down. That we see all kinds of groups love working with the negative capitalistic system to fill their pockets up. Who mind only can see nothing but one kind, is why we never see a change into anything they put down, just a lot of sounds. No one really want to get out of the place they complain all the time about. Just think about the decades, and centuries they been passing on the same things to the next generation. Not a solution, but just a complaint. If every nation we see that have rose to greatness, we know it were not from complaints, or setting on our ass praying to our Creator for a better day. All the things we do that some think is right, add up to fall in line with the negative way, by seeing how it set the country back as we fall in the recession way every time, and still have nothing to say.
God and All scientists do not know that the concentration of Wealth in the hands of an Owner happens in two ways: 1) The free market, no matter how much it is regulated, leads inevitably to extreme levels of Wealth concentration. 2) The exploitation of the Employee by the Owner, also, leads inevitably to extreme levels of Wealth concentration. The only sustainable solution is perpetual redistribution of Wealth from places of Extreme concentration (regardless if private or public) to every citizen evenly. A Repeated Redistribution is the only way towards a more equal society because nobody can stop the exploitation at the work place and nobody can stop the concentration of Wealth by free trade. 1) To sustain a free market You must tax the extreme concentration of Wealth and then give it evenly to everybody , again and again, so that the market can have customers (i.e. humans with money to spend). 2) Do not let foreign entities extract profit from our markets. We must extract profits from their markets.
@@reasonerenlightened2456 ok the man who is the person people literally use as the guy....Marx is the easiest to destroy and make the entire ideology crumble like a tower of cards... Marx and EVERY SOCIALIST advocate on earths argument against capitalism is the Pareto Principle....THAT IS 100% the argument......but NONE OF THEM OR MARX SEE IT... Pareto principle applies to communism, capitalism, and socialism too kid....only difference is in communism or socialism the top 20% of the Pareto principle are government workers....not people selling a good or service to willing customers.... AN ARGUMENT AGAINST CAPITLISM IS INHERENTLY AN ARGUMENT AGAINST FREEDOM
@@corryburton9252 Perpetual even redistribution of some of the Wealth is the only solution to the scourge of the free market and the exploitation of the Employee.
@@reasonerenlightened2456 exploitation of the employee is a phrase of the economically illiterate...... redistribution is not a good idea in any way, shape, or form... you say scourge of the free market.....yet THE ONLY THING THAT HAPPENS IN THE FREE MARKET HAPPENS IN SOCIALISM AND COMMUNISM TOO LITTLE BUDDY...... you are using Karl Marx's IGNORANT arguments without even realizing it I think...not realizing your "problem" is A NATURAL LAW called the Pareto principle.. which happens in communism and socialism, except instead of the top 20% providing a good or service....the top 20% are government workers paid by stolen money from citizens.... in short, your assumptions are all ignorant of natural law and economics sorry kid not trying to be an ahole but this is something that I have to correct people on all day every day you know what an employee is worth in a field with no building, tools, or equipment? nothing, capital matters kid
Most comment sections have right wing people saying that there has been a lot of deaths under socialism, but this comment section has figured out about the uno reverse card.
Not really I think many here are biased and illustrate to educate quite naive on some subjects, Abbey Martin's/empire files - America's unofficial religion, the war on ideas, puts it all in perspective of why many will happily fight and die for their capitalist masters.
I read somewhere that Adam Smith said the capitalism would fail if there isn’t discipline which I fear that is happening in the U.S. I haven’t read his book so I’m not sure if it’s really written anywhere.
Well, I've realized that whether the economic system is,there will always be poverty and inequality between people,even despite the fact how good socialism is.
SOCIALISM GOOD? THAT IS LITERALLY AN EVIL THING TO SAY ok the man who is the person people literally use as the guy....Marx is the easiest to destroy and make the entire ideology crumble like a tower of cards... Marx and EVERY SOCIALIST advocate on earths argument against capitalism is the Pareto Principle....THAT IS 100% the argument......but NONE OF THEM OR MARX SEE IT... Pareto principle applies to communism, capitalism, and socialism too kid....only difference is in communism or socialism the top 20% of the Pareto principle are government workers....not people selling a good or service to willing customers.... AN ARGUMENT AGAINST CAPITLISM IS INHERENTLY AN ARGUMENT AGAINST FREEDOM
Capitalism limits productivity because it requires certain levels of profitability (usually through productiveness) from every employee. This blocks inefficient proletarians from capital, leading to empty storefronts and uncultivated land.
ok the man who is the person people literally use as the guy....Marx is the easiest to destroy and make the entire ideology crumble like a tower of cards... Marx and EVERY SOCIALIST advocate on earths argument against capitalism is the Pareto Principle....THAT IS 100% the argument......but NONE OF THEM OR MARX SEE IT... Pareto principle applies to communism, capitalism, and socialism too kid....only difference is in communism or socialism the top 20% of the Pareto principle are government workers....not people selling a good or service to willing customers.... AN ARGUMENT AGAINST CAPITLISM IS INHERENTLY AN ARGUMENT AGAINST FREEDOM the pro lateriat is nothing more than the definition for enemy by an economically illiterate author
There is a large misunderstanding about capitalism where it is confused with corporatism. Capitalism is in fact an absence of system/control. The individuals have a natural right to have ownership/sovereignity/authority/power over their own life, works/trade/business, and property. Any violation of this right is the very definition of what a crime actually is and also what slavery means. Under capitalism the individuals has the right to decide for themselves who they will associate with, interact with, do business with, and decide on what terms and conditions that should happen on. And its the natural Law that will be enforced by a free market of competent professionals with a high level of integrity who will enforce the Law by protecting the individuals Natural Right. What we are under today is corporatism which is a collective form of thinking.
You are absolutely correct William. Unfortunately, the definition of capitalism is no longer taught in school and very few people know what the word means.... much less understand the concept. Keep trying. Thanks!
@@johnnynick3621 not fully true, the reason I am on this very video is to do a homework on the definitions of Capitalism and Communism, so at least some schools cover it
@@BenCarpendale I'm anxious to see what you discover, Ben. Most of the people who THINK they know what the word capitalism means are hugely mistaken. It's a very simple concept that very few understand. Let's see how you do.
Capitalism is systematic production. Economy is systematic distribution. Government is systematic protection. Kapitalizm jest systematyczną produkcją. Gospodarka jest systematyczną dystrybucją. Rząd jest systematyczną ochroną.
@@murlocmaster6192 THIS (as in our economic system today) isn’t the best, because government currently has its hand in the system to create special privileges for private interests. These privileges (subsidies, trade acts, regulations, etc.) crush the ability to compete against those with untold capital and allow only those remaining few players to maintain a stronghold on their respective industries and charge what they want. But if government didn’t have its hand in the pot, the market would naturally correct itself. For instance, if someone at a farmers market was charging $2 for a bundle of produce, but others only charged $1 for the same bundle, people would naturally vote with their dollar to support the farmer who sells at the lower price point. The farmer charging $2 would lose its customer base and go broke. But if regulations in agriculture increase the operating costs of running a business in said industry, only a few can remain and compete. Suddenly all we have left are prices for products or services that few people find worth the asking price.
Both Adam Smith and Karl Marx are correct about capitalism, it can be either. Capitalism left to it's own devices eventually falls into monopolies and tyranny, the full restriction of capitalism stops growth, freedom, quality of life, and de-incentivizes progress. Like a nuclear reactor, capitalism is incredibly powerful and efficient, but naturally unstable without proper guidance and infrastructure. We're currently heading towards a melt down because of poor guidance.
You are severely mistaken. Capitalism makes monopolies nearly impossible. The only possibility of someone capturing an entire market in a free society is to provide such an incredible value to the consumer that nobody would be capable of improving on that offering. Capitalism does NOT lead to tyranny.... a tyrannical government leads to tyranny. In a true capitalist society government is restricted to ONLY protection of individual rights. Capitalism is NOT unstable. The instability we as a society experience is ALWAYS caused by government interference in the marketplace. When government interferes in the economy businesspeople tend to withdraw assets to a safe place which causes a recession and unemployment. We are currently heading toward a meltdown because we do NOT have a capitalist society. Instead, we have a Welfare State that regulates EVERY aspect of our economy in accord with the wishes of a small group of influential people who seek control and power.... and YOU are helping them by blaming the one system they despise.... a free and unfettered marketplace.
''The failure rate of Socialism stands firmly at one hundred percent.'' That quote from my book Handbook for American Conservatives [Amazon Kindle] will never be disproven.
@@tinkletink1403 done it and I know hundreds....they agree....most people live in echochamber cities where they never actually hear anything outside their worldview kid
@@tinkletink1403 I bet you dont even realize why minimum wage was created....because it wasnt to help the working class....thats flat out propaganda kid minimum wage was literally created by Democrats to keep black people out of the workforce kid, that is a historical FACT
@@tinkletink1403anyone working a min wage job isn't putting anything into their career. You can literally get some type of training in a bunch of different fields for 2 years or less and make double the min wage.
@@jimbo2834 Some people already do under capitalism so whats the diff? Other than ego driven and greedy can never be satisfied with what wealth and privilege they have.
@@sophiepooks2174 ok the man who is the person people literally use as the guy....Marx is the easiest to destroy and make the entire ideology crumble like a tower of cards... Marx and EVERY SOCIALIST advocate on earths argument against capitalism is the Pareto Principle....THAT IS 100% the argument......but NONE OF THEM OR MARX SEE IT... Pareto principle applies to communism, capitalism, and socialism too kid....only difference is in communism or socialism the top 20% of the Pareto principle are government workers....not people selling a good or service to willing customers.... AN ARGUMENT AGAINST CAPITLISM IS INHERENTLY AN ARGUMENT AGAINST FREEDOM
91 years after Adam Smith wrote his book about the wonders of capitalism, Karl Max wrote his book criticizing his thesis. Today, under United States (US) capitalism, 38 million Americans live in poverty and 60% live from paycheck to paycheck, while 9 of the 10 richest men in the world are US citizens. Where is the harmony that Smith spoke of for the 99% of US citizens? In stark contrast, the People’s Republic of China, the second largest economy in the world after the US, has already eradicated her poverty, despite having 4 times the US’ population. Today, China and BRICS are economically outperforming the US and the G-7 since 2020! The US hypocritically claims to support Taiwan’s inalienable right to self-determination and independence, while it has consistently refused, a win-lose attitude, to comply with 42 United Nations’ resolutions demanding that it immediately return Puerto Rico’s sovereignty to the Puerto Ricans. And, on Wednesday, July 24, 2024, the US will host, at the Capitol, the international pariah Netanyahu, so that the US could continue to unconditionally support his genocide against the indigenous people of Palestine. It is now very obvious why, in the US, the teachings of Karl Max has always been taboo. History has proven without a doubt that Max’s critique of capitalism is totally correct. It is indisputably impossible to be the champion of democracy under capitalism! Capitalism is the undisputed champion of plutocracy.
Jose, the breadth and width of your ignorance knows no boundaries. Prior to 1978, China was a closed and totally controlled economy and was one of the most impoverished nations in the world, on the brink of economic and societal collapse. The Chinese Communist Party were forced by threat of revolution to open their economy to freer markets. They permitted citizens and foreigners to own and operate for-profit businesses and since then, their population has thrived. While no nation on Earth has ever actually attained the status of true Capitalism, it is a FACT that the closer any nation comes to total economic freedom, the more their citizens thrive - and the more restrictive their economy, the more their citizens suffer poverty and lack of resources. Capitalism is nothing more than the freedom to conduct business without government intervention - so long as you do not deprive others of that same freedom.
@@johnnynick6179would you say that limiting and preventing the abuses of capitalism does not require a communist marxist society? Can we just keep Communism from abusing the middle working class and force the top to pay their workers livable wages so they can do what they want with their left over time and money?
People who defend socialism need to go anywhere in china (like seriously that place is crazy) People who defend communism should…. Go somewhere. There’s never been a true communist government so I don’t know where to send them 😭 People who defend Anarcho-capitalism need to visit the east India trade company (closest example I could find 💀) People who defend anarchism in general need to quit watching V for vendetta and watch SpongeBob instead. Seriously SpongeBob is goated People who defend @shigshug8581 need to go to his channel (his videos are interesting)
Agreed, I want to throw up when someone says they love capitalism, and how it allows you to accomplish your dreams. While stepping on the dreams of others.
An addition is that our economy has slowly become less capitalistic one law and policy at a time ever since the gold standard was removed. If you don't like todays system then you have and issue with something like "techno feudalistic corporatism" that's slowly eating the capitalism base its sitting on. Really though the fact that its takin this long (few lifetimes) for corruption to drive it down and the fact that politicians had to erode at it to do this is a real testament to good a system it was while we had it.
not much of a student of history I take it? some of the worst living conditions for the majority of people was when the plant owners and corporations had the least controls imposed by government and labour laws. while the current corporatism is less then ideal I will take the absolute worst of the modern ones over the industrial revolution in a heart beat, but then I like being able to afford an actual bed (labour laws gave us that option not capitalism)
@kertagin1 Wrong there weren't appropriate and adjusted laws during certain moments in time and as they were adjusted more to match the capitalism they were apart of it got better but starting at 1971 at least we've slowly drifted away from it again. Corporatism is not capitalism nor is it the next stage like some ignorantly say.
@@kertagin1 YOUR ignorance of history is profound, Kertagin. Prior to the Industrial Revolution the majority of people were agrarians living hand-to-mouth, season-to-season under the rule of a monarch or nobleman who leased him land and a dirt floor hut and allowed him and his family to work that land in return for a percentage of what he raised. Conditions were horrendous by today's standards. Disease was rampant. Infant mortality rates were astronomical, and life expectancy was abysmally short. It was the Industrial Revolution that resulted in ALL the modern conveniences YOU take for granted. It was the industrialist/capitalist that dragged civilization, kicking and screaming like spoiled children, out of the Middle Ages.
@@johnnynick6179 your funny. Calling my ignorant while repeating long debunked myths of the middle ages while ignoring the recorded conditions of the industrial Revolution by its conteporary authors, photos, news reports etc. Capitalism had in the US a for hire army that shot protestors asking for living wages among other horrors but sure I'm the one who don't know the history.
@@johnnynick6179 cute. so what your saying is you swallowed the poison cookie of modern Capitalism propoganda. in the middle ages yes agrarian was the norm, and kings were the norm. living hand to mouth... false. most families had a cow or two and/or couple pigs and chickens or geese. they would plant crops on the common lands to ensure their food supplies (the commons was not taxed). disease was rampant till vaccines were developed (and that knowledge was spread for free, one could almost call it communist) taxes were far less and not consistent as the primary tax was on trade or owned land not income. the mortality rate was high as it counted the many babies that died. but if you made it to adult you life span was similar to today the industrial revolution brought us chimney sweeps, child miners, factory towns, the Pinkertons, cramped slums in the cities, starvation wages, in London the average factory work made 4 pennies a day and this allowed you to buy a meat pie and maybe afford to rent a coffin bed with a tarp blanket, or you could save money and rent a chair to sit but not sleep on, or a rope to lean over. as well as vagrancy laws that put you in a work house for not owning a home to sleep in. your grasp of what was going on is hilarious. life quality improved with the unions who fought to bring back some of middle ages standards (they worked less hours a day and had more days off). you need go back to study history
American capitalism still has many human, economic, environmental, cultural, and social problems in a concern. - There is difference between Democrats and Republicans in our federal, state, county, and local governments across our country. For years, our deaf citizens, other citizens with disabilities, people of color, other minorities, immigrants, women, girls, seniors, children, ethnicities, nationalities, religions, and other have had been experienced in unfairness, discrimination in practices without any reasons, being unfairly treated in situations in anywhere, lacks of awareness, inequalities, denials, stereotypes, prejudices and any rejections in reality. At my younger age of my childhood life, I remember that the new US President John F. Kennedy made his important & important statement.-“Life is not fair”.
Blaming capitalism for every injustice you see is irrational. The US has NOT been a capitalist society for at least the past 100 years - arguably since its inception. Capitalism has NOTHING TO DO with discrimination - that is an injustice practiced ONLY by individuals - NOT by the system called capitalism. You should learn what capitalism - the word - actually means.
@johnnynick6179 If it was capitalism, many big companies in 2008/9 would've been allowed to fail for making bad decisions. What we have is socialism for the super rich and capitalism for everyone else. 😳
@@alphaomega1351I don't know who made up that ridiculous expression but it makes no sense. We do not have "capitalism for the rest of us". Capitalism is economic freedom - a lack of all government interference in financial matters. We don't have that. We have the opposite of that.
*Marx.pure Marxism has never been tried anywhere, only a few Scandinavian countries have democratic socialism, they were rated the happiest countries with the best standards of living for all citizens, before they allowed too many religion of peace immigrants in.
The drawings / visuals in the beginning were useless. You basically read a text book definition of capitalism and drew some figures that took longer to understand than the speed of the video. Anyway good job, I don't think I could make a better video.
“Karl Marx is set to become right with his prediction ” people when his prediction of Calculus being wrong comes true and not his other stuff about capitalism (they should’ve been more specific about which prediction)
@@somethingwelovet2188 Capitalism does not cause inequality... nature causes inequality. We are NOT born equal.... and there is NOTHING you can do to make everyone equal. You can try making everyone equal.... but that is evil and will NEVER work.
Well the best system we have is polluting the air we breath, emitting tons of carbon which would cause climate change, causing fast food consumption and obesity rates to rise because of health food prices going up and food deserts, and probobly the lack of health education. This causing people to spend most of their waking hours working themselves to death just to make ends meet which leads to burnout. This is all to keep people busy so they'll keep consuning stuff they dont need just to fill a void in themselves. Not only that, but we also keeps building highways and infrastructure thats car-centric in many cities which causes tons of sound pollution and air pollution. And because of all these car-centric roads and zoning laws, everything is all spread out, making it hard to get anywhere safe withoute having to use a car. And the losing of third places. Combine those with the rise of the internet and social media, everyone is feeling more connected than ever before. But we are still very isolated from each other. Because of this, zoning laws, and car centric infrastructure kids don't go outside as much and dont get the exercise they need. Average lifestyles seem to be coming seditarty as a result. Which is another reason for rising obesity rates. All this combined with burnout and working long hours its bringing fourth a pandemic of alienation and loneliness. Not only from our friends and family but also from ourselves.
@@theintrovertedaspie9095 Actually, life has always sucked. As the buddha says, "life is suffering". Maybe we shouldn't exist at all. Life is suffering, pain and misery for all animals on this planet, but I agree with your comment.
@@quatele That’s only one aspect of capitalism. I know what laissez-faire means. I’m going to assume that you were not intentionally being patronizing. For the record, most capitalist economies aren’t laissez-faire. You could easily look at Japan, Germany, South Korea, even the US as examples. All undeniably capitalist, and definitely not laissez-faire.
@@bradencolaner4811 I am using capitalism as a synonym of laissez-faire. By "capitalism" I see you mean our current mixed economies, which I would call half socialism and half capitalism, or some such ratio. Mixed economies exist world wide, so by my definition there are no pure capitalist nations, just some are more capitalist than others. It also varies by industry, so it's not an apples to apples comparison.
@@WanderingExistenceNo- socialism is when society owns the means of production. Communism's goal is elimination of private property. They're both horrible.
The US is NOT a capitalist society. It is a Welfare State. Even back in 1776 we weren't a capitalist nation. In order to be deemed a capitalist society, the government must have NO CONTROL over trade or business.
I think capitalism is the best system with the best ideas but I also think some of the ideas of capitalism need to be amended with the primary focus and objective now being sustainability not growth. I also think the idea within capitalism that greed and selfishness is somehow a good thing needs to be forgotten. Greed and selfishness in any economy is not good. Competition is good but capitalism also needs to be encouraging much more honesty and responsibility and also promote cooperation, fairness and morality. If capitalism is modified in this way maybe we can’t call it capitalism anymore. Perhaps we can take the good ideas from capitalism and combine it with some of the good ideas from socialism and call it something else. Sweden, Finland, Norway and Demark have had some success it doing this. The thinking that the economy (the production and exchange of goods and services) always has to grow for there to be innovation, progress and prosperity will eventually become a problem on a finite planet. This may have worked well in the past when communities and societies did not know the scale of the planet and the environment but, I think the focus now needs to be on sustainability not on growth! There needs to be flexibility in the system for the economy to be able to expand and contract and for a contraction to be considered normal and not a problem or a failure and for the contraction to be just as innovative and prosperous as the expansion. For this type of thinking to work, there need to be some new economic models developed along with some new types of financial systems. If the academics along with the economist, engineers, politicians, corporations, capitalists and entrepreneurs can figure out some new economic models that are based on sustainability instead of growth, I am sure there will be some noble prizes awarded. The way this can begin and at the same time improve peace, fairness and morality is when our business, government and academic leaders, along with our wealthiest and brightest and smartest among us can start learning how to be much more truthful and honest. People don’t have to love each other. They do not even have to like each other but, they do need to understand that the wellbeing and happiness of others benefits everyone and is the bases for morality. This should also help nations start to build trust and respect in each other so that they will no longer feel the need to spy on each other or feel the need manufacture weapons that can wipe out most of the life on this planet and from there start working towards reducing and eventually stopping the manufacture of weapons for war. If people are struggling to survive or risking their lives defending themselves fighting wars, they will not care about anybody else or about the damage and devastation of their towns, cities and communities including the planet’s environment. They will also be much more aggressive and willing to commit crimes and behave in violent ways with animosity and hatred toward others that don’t look like them or do not share the same religious beliefs. Here are some books with some new economic models and ideas that look like promising developments: 1 “Doughnut Economics” by Kate Raworth 2 “Prosperity without Growth” by Tim Jackson 3 “Confessions of an Economic Hit Man” by John Perkins 4 “Beyond Growth” by Herman Daly “The Centre for Advancements of the Steady State Economy” is also a good source of information
There are absolutely NO moral grounds for ANY of the drivel you have cited. Using FORCE and the threat of VIOLENCE to make productive people support unproductive people is evil - under any and all circumstances. You can dress it up and put lipstick on it - it's still evil. STOP advocating for evil.
In Australia we a capitalist system with some good socialist ideals like affordable healthcare, but successive corrupt politicians have tried to make it dysfunctional and replace it with profit making, so the only people can afford to see a doctor if they have enough money in the bank.
There is no such thing as the "perfect economic system" but at least Capitalism has been shown to lift more people out of poverty than any other, whereas all forms of Collectivism result in subjugation of the masses to an all powerful government.
I almost agree with you - except for your assertion that there is no perfect economic system. Capitalism IS the perfect system. It is morally right and pragmatically efficient. It allows for human flourishing without the need for government coercion. Capitalism rewards the productive and punishes the lazy. It allows for sustainable profitability which enables those so inclined to help the needy who they deem worthy of their support. Life is imperfect. There will never be a utopia where none suffer. Mankind's slow march toward Capitalism has, however, resulted in alleviating and reducing the suffering of millions of people around the world.
The biggest problem of Capitalism is wealth and power is falling into the hands of a small number of people who generally have little concern for the welfare of the mass of the people on the planet. Capitalism will solve world poverty does sound ridiculous. The Economist magazine ranks American democracy always in the late twenties of efficient world democratic governments. Consumerism, a vital aspect of Capitalism, has ruined the eco system of the planet. Making things that dont last and constantly want replacing. By advertising and marketing creating a need for a product that is not really needed, eg fashion; making unhealthy products attractive like smoking, sugar filled drinks etc; creating false and untrue and unfair criticisms of societies, say China, with a modified form of Capitalism which has been so successful for them. American style Capitalism has created an unhealthy obese violent poorly educated society which specialises in overthrowing governments not in favour of their style of Capitalism and similarly fighting wars on an enormous scale to try and totally inappropriately install their version of Capitalism on them. Could some aspects of Capitalism and Communism be combined and a superior system of government be established.
There are MORE wealthy people today than at any other time in history. MORE.... not less. You cannot combine ANY aspects of capitalism and communism. To suggest such silliness merely points out the glaring fact that you do not know what either of those words mean.
@@johnnynick3621ok met consumer. Don't cry when your country goes broke by 2030 and a 18-year-old young will have to be required 4 years of experience to get an entry level job and a used napkin will have more value than his degree. And that's not even the worst part.
@@NicolásSánchez-z5y I have no idea what your comment is trying to say... it's mostly incoherent gibberish... but I agree that the US could easily go broke by 2030... and I agree that for most college graduates a degree is utterly useless. What does any of that have to do with what I said? I claimed that there are MORE wealthy people today than at any other time in history. MORE.... not less. Do you dispute that claim? I claimed that you cannot combine ANY aspects of capitalism with communism. Do you dispute that claim? Be specific.... and coherent.
"Capitalism" is so vague. You could have a market system with a large range of regulations. Also the effects of a capitalist market will differ greatly depending on the technology of the time, the culture and values of the time and place. So its hard to say what THE pros and cons of capitalism are. A libertarian might argue though that true capitalism is 100% regulation free. But since a 100% free market or pure capitalism has never truly existed just true communism never has, then again we can't really say what the pros and cons are. We can only hypothesize.
Well let's see the cons: - Income inequality: Not a problem really, poverty is a problem, inequality is not. Equality is a mathematical concept which makes no sense when applied to people, no two persons are equal. - Exploitation: the marxist idea of exploitation relies on objective value theories, and value is obviously not objective, so marxist exploitation doesn't exist. - Environmental impact: the search for profits motivates efficiency, efficiency motivates the use of as little energy and materials as possible, and this leads to less contamination per production unit. -Economic cycles: This is a complex theme, but many great economists like Mises and Hayek believe this cycles to be caused by artificially low interests for the credit of central banks, so it would be a con of government intervention, and not capitalism.
Thank you for paying attention !! The central banks will steal the wealth of the nation and put it in the hands of the few and more hazardous to people's freedom and liberty than standing armies and one day your children will wake up homeless in the land your forefathers Concord. Thomas Jefferson told us back in the 1700s what unfair crony capitalism will bring about. Welcome to America !! The land of the uneducated & home of the dumb when it comes to the difference between making a demand for lawful money for free men (title 12 USC 411) and legal tender for slaves by deceit.
@facelessentity1088 Inequality is not intrinsically bad, if you live well only jealous people would care about the wage of their neighbour, and what you said about the 1% is totally made up. Exploitaton is a marxist concept, and its existence doesnt depend on how much the "owner" earns compared to the workers, exploitation exists if and only if workers earn less than what their work produce, and since value is subjective there's no way to objectively determine if a worker is being exploited, thus exploitation is a mere feeling, not something real and quantifiable. How are you going to maximize profits if you don't take full advantage of your resources? the only way to maximize profits is to minimize the amount of resources you consume per production unit, what you are telling me is illogical
@@serkratos1216The 1% is not made up, take a look at the richest people in the world. Their net worth is literally worth more than most third world countries. Exploitation is not a marxist concept, Karl Marx didn't just create exploitation out of nowhere. Also, value is not just subjective. It is quite objective actually, because it depends on the demand and supply of said product. This is also the case for raw materials as they depend on their rarity, not because some guy said, "I feel like this is $100 per kilogram.". What you just said "Exploitation is a mere feeling, not something real and quantifiable" is by far the most stupidest thing I've ever heard. Not only that, but I think you forgot that there are 2 types of data, quantitative and qualitative. Not just quantitative. To only objectively look at an issue, especially an issue within society, is wrong. One needs to look through both lenses and not just one. Only selfish shortsighted idiots think of profits only for themselves. Taking full advantage of resources shouldn't be at the cost of the others. In this case, it has something to do with the person's principles and morality. Which I think wouldn't make much sense to you since based from my impression, you dont have any.
Capitalism is invented by the Dutch Calvinists in the 17th century. They said that your place in heaven in granted by God and you can not earn it, it is given. So you don't have to take care of your fellow humans, but praise and thank God. The others have to take of themselves. That is the base of American capitalism, take care of yourself.
That is Not true in the least. 'Private' in this context means any individual person or entity that is private. So if the government is tangled up with a big business, that is NOT a private (capitalist) venture. With real Capitalism, people are more likely to own a house (or a car or their own business) than any other economic system.
Lets not overlook Conservunism... AMERICA’S REAL SOCIALISM is REPUBLICAN CONSERVUNIST CORPORATE WELFARE SOCIALISM for (mostly) PRIVATE CORPORATIONS! (Copy and paste to your friends) Here’s a short list... Remember this next time someone complains about “High Taxes”. Conservunism defined: Primarily Republican Party taxpayer funded corporate welfare Socialism. If you practice political Conservunism, you are a Conservunist politician.
“Socialism for the wealthy, ‘Rugged Individualism’ for the poor.” “Debt is Republican Double Taxation.” (Principle Plus Interest to the Bankers) “Taking from the wallets of the many into the pockets of the few.” “The taxpayer bailout of failure.” “Wait! This is how the Soviets did it!” (Before their empire died of massive debt). Note: As applicable, the following bailouts are in dollars of their time. (Not inflation adjusted to today). 1970’s: Nixon’s printing Billions of fiat money to pay for Vietnam, 21% a year inflation results. 1971: Lockheed Aircraft Corporation taxpayer bailout, $250 Million. 1971: Amtrak, Taxpayers bailing out 23 passenger rail companies. 1974: Penn Central Rail Road taxpayer bailout, $676 Million. 1976: Formation of Government Conrail to bail out failed freight railroads ($?) 1980: Chrysler Corporation taxpayer loan guarantees, $1.5 Billion (paid back in full). 1980: Continental Illinois Bank taxpayer bailout, $1.8 Billion. 1989: Reagan/Bush R.T.C. Savings and Loan taxpayer bailout, $178.5 Billion. 1994: Orange County California Republican investment boondoggle $1.5 Billion taxpayer bailout. 1998: Long Term Capital Management (LTCM) taxpayer bailout, $100 Billion. July 2008: Housing Bailout Package. Nationalized Fannie Mae and Freddie Mac, $200 Billion, adding $5.5 Trillion in debt to the US government accounting books. August 2007: Bear Stearns and JP Morgan taxpayer bailout, $29 Billion. Sept. 2008: American Insurance Group (AIG) taxpayer bailout, $173 Billion. Sept. 2008: bush’s Troubled Asset Relief Program (TARP) taxpayer bailout, $700 Billion. Sept. 2008: GM and Chrysler taxpayer bailouts, $30 Billion (part of TARP). Nov. 2008: Citi Group, $45 Billion and $250 Billion for its toxic assets. Bank of America, $45 Billion and $306 Billion for its toxic assets. 2009 Homeowner Bailouts, $75 Billion. And the Economic Stimulus Plan as a result of the near economic collapse of the US Economy, $770 Billion. More Details: Reagan's and daddy Bush's taxpayer funded $250 billion 1988-1989 Resolution Trust Corporation (R.T.C.) Socialist taxpayer funded bailouts for the financial failures of Savings and Loan Bankers. This was done after Reagan deregulated the Savings & Loan industry in the summer of 1982. And the absolute horrendous financial decisions by Reagan’s Fed Chairman Alan Greenspan. How about co-presidents bush and Cheney's Socialist taxpayer funded $750 billion September 2008 Troubled Asset Relief Program (T.A.R.P.), the socialist taxpayer funded bailouts for their failed Republican "Investment Bankers", Goldman Sachs, Merrill Lynch, Bear Sterns, and Insurance company AIG, and Real Estate moguls like Freddy Mac and Sally Mae. Or how about bush's lying us into the March 2003-2011, $2.2 Trillion Iraq War For Profit complete with Socialist taxpayer funded "No Bid Contracts", “Cost Plus Contracts”, and "$igning $tatement$" to Halliburton, Bechtel, Blackwater’s Mercenaries, and Kellogg Brown and Root just to name a few. Note: 52% of all Iraq contracts went to Cheney’s Halliburton. Wheres the WMD’s George?? Then there’s Trump's March 27, 2020, $3.8 Trillion socialist taxpayer funded, inflation creating, fiat money, Corona Virus Aide Relief and Economic Security (C.A.R.E.S.) Act/s (divided into four Bills). Initiated after Trump dismantled the US Pandemic Task Force in early 2019, which would have mitigated the effects of the virus with scientific responses. The immensely reckless spending corporate welfare C.A.R.E.S. Act is a major cause of our current INFLATION. 2020-03-18, “Family First Covid Response Act: $192 Billion. 2020-03-27, Corona Virus Aide Relief and Economic Security Act: $2.2 Trillion. 2020-03-27, Payment Protection Program (PPP): 484 Billion. 2020-12-27, Consolidated Appropriations Act: $900 Billion. Lets not forget about Credit Card Companies “Cash Back” wealth transfer programs for the already wealthy. Paid for by some poor smuck paying 29% on his credit card bill. How about all that socialist taxpayer money to "private" billionaire sports team owners for their "free" taxpayer funded sports stadiums? Ask yourself this; should you tax money be paying for someone else (a millionaires) entertainment? In Arizona as an example; for the socialist Arizona Cardinals Football stadium, approx $350 Million, the socialist Phoenix Suns Basketball arena, approx $200 Million; the socialist Arizona Diamondback Baseball stadium, approx $300 million; and soon AGAIN, the socialist Arizona Coyotes Hockey stadium. This time the City Counsel suckers (or collaborators) are in Tempe instead of Glendale where the Coyotes skipped out of $100 Million still owed to the Glendale taxpayers. And lets not forget Dubya’s law breaking eminent domain socialist theft from the City of Arlington Texas to build his new taxpayer finances Texas Ranger baseball stadium in 1990. Bush received $21 Million from the crooked deal. How about the taxpayer funded socialist Republican “vouchers” to PRIVATE SCHOOLS AND NOW PRIVATE RELIGIOUS SCHOOLS? Private being the key word for this taxpayer finances Conservunist fraud. The Republican socialist (America's REAL Socialists), got their Redistribution of Wealth...Trickling UP! I am not now nor have I ever been a member of the Conservunist Party. REMEMBER: ANTI REPUBLICAN SOCIALIST CORPORATE WELFARE IS PRO BUSINESS! Remember: Copy and paste to your friends.
Wage labor is renting yourself via "self ownership". Employment is literally renting another human being as if they're property. The employer-employee relationship is a very insidious dynamic. Employment is a rental contract, like if you rented capital (say, a chainsaw from Home Depot), you pay rent for the "time preference" (basically the cost of time) for a piece of property. Capitalism is based on a principle of self ownership, which sounds empowering, until you realize that most people don't own capital goods other than themselves, and must rent out the authority over themselves as pieces of "human capital". This is a process of dehumanization where human beings are valued for their return on investment as capital goods. This is why, at the very least, capitalism needs unions and safety nets (or abolishment), or else the system won't value people for their human value. Importantly we must also think about our sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class to value. We must figure out a way to change this economic system if we wish to value each other.
Capitalism is the best economical system. If your skill is in demand, you’ll be wealthy. Get what you’re worth. On the other hand, I wouldn’t want to share the weight of my hard earned capital to someone who slow jerks in his mom’s basement
What about the skills that are always in demand, yet aren't deemed worthy of commensurate remuneration ? You have a simplistic and erroneous view (imo). Many in the current system take advantage of and exploit their staff for profit. This may not be as a direct consequence of any specific ideological construct, but regardless, capitalism accommodates this behaviour.
@@JB.zero.zero.1 First of all.... anyone who has mastered skills that are in short sully and high demand will ALWAYS be in a position to earn substantial remuneration, and they do NOT need to work for others to do so. Secondly....the idea that people who are working for someone else and being paid to do so are somehow being "exploited" is silly. It can equally be said that those who are demanding to be paid to work for a business owner are "exploiting" that business owner... which is equally laughable. YOU have a simplistic and childish view.
@@ZaiDrizzleDrop Capitalism is incapable of "exploiting" anyone's dreams. It is the opposite of "restricting" others. What we are suffering through today, a corporatist form of society, is the opposite of capitalism. That is the form of society YOU advocate for. YOU have empowered the elite corporate masters you pretend to abhor.
Why can't everyone own a business? Why can't you go work for someone who will pay you to learn a trade.... become good at that trade and in the meantime save up your money.... then go out and start your own business. Didn't your parents teach you ANYTHING?
@@sophiepooks2174Your defeatist attitude is what has held you back. I was trained in multiple skills working for others, and I later trained others those skills while they worked for me. My daughter has a thriving business. She teaches a specific skill set to employees willing to learn. You need to stop blaming others and take responsibility for yourself.
@@tinkletink1403 _"hey dumbo ... if everybody owned a business who would be doing the work?"_ Lazy, stupid people who are not motivated toward success likely would NOT want the responsibility of owning and running a business themselves - but even they COULD do so... if they were motivated to do so. The fact that anyone CAN own a business is quite different from the fact that most people are too lazy to own a business. It is much easier to let someone else take the gamble and do the brainwork while you play video games. The fact remains - anyone can start a business today. In the history of mankind, it has never been easier.
So great video as usual. Political opinion below. In my opinion, Capitalism is bad. Capitalism only attracts progressivism. Also pure capitalism abuses workers. This is my opinion based off of my personal experience.
@@a-pv7sv i read that as “capitalism isn’t the only form of capitalism”. Im not lying. Ik, pure capitalism isn’t it’s only form. But I dont like to consider myself capitalist or socialist. Both are flawed systems that when merged (correctly, not like we have now), can work brilliantly.
Any economic model is subject to flaws and corruption. Corruption, that is people, is the main problem with any economic model. However, it is clear that some are more inherently resistant to corruption than others. So many things depend on the people behaving in a fair and just manner.
Well to bad only the really despicable people win in a capitalist country’s
I think you have just put an end to this argument.
The only social system that eliminates corruption is democratic totalitarianism because it removes privacy. No privacy - no corruption.
Other options involve non-human governance, such as by open automated systems or AI. While humans don't like absence of privacy, machines don't mind being fully transparent in their job.
I assume I left a comment here which was deleted. Why would I get a notification about these comments?
@Trainrhys the big brother watches.
Capitalism is the best system when it uses a moral code! Any system with people is inherently flawed, but Capitalism allows for self determination and self interest. If I do what’s best for me and you do what’s best for you both parties win!
The billionaires wont spare you
Billionaires will use capitalism to impoverish other countries for cheap labor. Theyll get rich while others suffer.@@kuroishiofficial
You are relying on other peoples good will. Wake up!
@ you’re a fool! Wake up!!!
this taught me better than my school
The communist manifesto is free on youtube and it's like two chapters long, read up
@@ottomatedcylinder533 communist manifesto is the greatest shitpost of the 19th century
@@abcogien You don't even understand basic Marxism..? Thought terminating cliché.
thank you! -other's YT videos on this subject were just all over the place & not usable. THIS video is helpful. 🙏
Glad it was helpful! That's my goal with my channel. Straight to the point and simple!
@@IllustratetoEducate The point you did not make : The Capitalism is a free open access "grazing land" called "The Market" and Everybody is grazing Profit from the Market to make themselves bigger so they can graze more Profit. The Market is a classical open access problem and therefore the inevitable Tragedy of the Commons scenario follows with all its consequences for the market and all who take part in it.
Excited to see you still making content, keep up the good work!
Thanks! Good to hear from you! Hope all is well at the Google! :)
@@IllustratetoEducateHow is stocks capitalism?
A currency is used to trade goods and services, not is a goods and services.
Capitalism is only normal supply and demand math chart.
Where does capitalism say anything about passive income.
This word would be "slavery". To use a currency to make slavery.
Communist is about a credit system like food stamps. A UBI of food stamps one can't buy
Socialism is about a credit system one buys. Like postage stamps.
Marxism is a credit system one buys. A stock. To funnel resources to the top
Capitalism. Market trading in normal supply and demand math chart. Nothing about passive income.
Really loving your videos and I am getting myself more into them. While watching this video about Capitalism I was also writing some details that have been stated from this video and it has gave me some well informative stuff about this economic ideology. Thank you and I will be looking forward for more excellent content from you in the future.
Glad you like them! Thanks for being a fan of the channel! 😊
@@IllustratetoEducate Adam Smith and Karl Marx did not see that free market with competition is a Tragedy of the Commons Problem which a government exacerbates or tries to mitigate....but never solves.
@@IllustratetoEducate Adam Smith and Karl Marx did not see that free market with competition is a Tragedy of the Commons Problem which a government exacerbates or tries to mitigate....but never solves.
Never stop putting out cool videos like this!
Thank you! I really appreciate the support and knowing people are enjoying the videos and the channel. 👍🏼
Great content. Thanks for the video!
The best social format ever. Attention, I didn't write the perfect one but the best one between those social formats that exist until 2024.
Fantastic!
The best video I've watched on capitalism and Adam smith’s approach
I feel like every single concept, notion, practice, ideal, program, and really everything, has busts and booms.
nah. things stay pretty steady without the inbred loser ruling bloodlines playing "hidden sekritt inbizibul handddd". even the stuff that goes in cycles naturally doesn't just wreck havoc and mayhem in busts and then send all the gambling addict weirdos flying to the top on a cocaine-n-crystal magic rocket, round and round again.
THAT nonsense is engineered. and to know that the misery is huge at all levels... lol. the banality of evil.
I love capitalism. We are born in the greatest country on earth and we all have the opportunity to make a living. Some choose to trade their time for a hourly wage. Others choose to create jobs and hire people to grow a business. Then you have the ones who choose to cry about everything
Well, in my point of view, capitalism can be good but it is much much worse. You see, for us, people that were born in a certain place, with certain conditions, choosing our own paths is easy, but for most people, this is not the reality. Capitalism is based on individualism so nobody wants what’s greater for everyone, we only think of ourselves and then we defend the idea of only thinking on ourselves. The government and the media hide what’s not pretty, we ignore deaths and poverty everyday claiming that “it’s normal” and “for someone to be rich, someone else has to be poor” but that’s only true in capitalism. we have more than enough money, food and technology for everyone in the world (that’s a fact) we just don’t share it because we dont care, we don’t care about refugees, we don’t care about violence, we just care about what affects us because that’s what capitalism stands for. I don’t think that’s good, but idk people just say I tend to overthink (although I don’t think that’s bad)
Could you please explain how a person born in a poor family can start creating jobs and running a business all of a sudden? You have no options but to work a hourly wage job to make a living meanwhile spending your time and energy on trying to get a degree for a better job. It all takes years and leaves you with a debt for tuition.
@@ДжинТоник-с1п it’s not easy, I know I worked through school. I’m on my second career as a matter of fact. After I finished school got a job working for someone and learned as much as I could through working for five years for three different companies. 8-18 hour days and now am in business for myself. Right at this moment as I write this I have the freedom to be sitting on top of this mountain glassing for elk, deer and bear. I was never able to pursue my this bow hunting like this working for someone else. Also I used to be a drug addict homeless criminal. Growing up we were very poor. No electricity gas or water some times. Heated up water on a fire to take a bath and cook
@@sofiagoncalvesf Speak for yourself Sofia. YOU might not care about others, but that does not mean that ALL successful capitalists feel that way.
YOU might feel that YOU must be FORCED by the government to support those who are worthy of help - but there are millions of us who do NOT need to be FORCED at the point of a gun to help others that WE deem worthy.
Imagine the audacity of someone saying, "I'm compassionate and to prove it I am going to put you in a jail cell until YOU agree to be as compassionate as I am."
People just keep getting more and more irrational.
@@ДжинТоник-с1пhard work my father was born poor in the 40’s and was the child of a single mom. He became a self made millionaire by busting his ass and saving, investing well. He never quit learning and improving himself. He was a master of many trades. My mother was abandoned at age 5 and was in and out of orphanages until age 8 and was adopted by her aunt they grew up poor. She and my father were a team. Always supporting each other and making a better life for themselves and their children. They taught us the value of hard work and determination. Obviously our country is in an economic chokehold and the problem isn’t capitalism it’s the federal reserve and corporate greed.
Marx's philosophy is a little bit misrepresented here. He didn't argue that workers would revolt against the system, he argued that its demise was inevitable due to its very design.
He did talk about revolt
And yet communism died first.
James Lindsay talking on woke and Marx;
"And Max Horkheimer who designed the critical theory explained the critical theory. He said well, what we came to realize was that Marx was WRONG about one thing, CAPITALISM does NOT
IMMISERATE the worker. It allows him to build a better life.
So I developed the critical theory because it is not possible to articulate the vision of a good Society on the terms of the existing Society
So critical Marxism criticizes the entirety of the existing Society everything as somehow needing to be subjected to Marxist conflict analysis but how is that to be done?
They sought an answer through the middle part of the 20th century and World War ll breaks out the Frankfurt School comes to America"
Source: YT search; James Lindsay shatters woke ideology
Timestamp: 22:58
And then he went on to design a much worse system that ended up killing millions of people.
@@Time_to_Believe_in_Yourself the only reason capitalism improved workers lives is because during Marx's life nations started taking the capitalists into hand and disallowing their worst abuses. this by no means solved all the problems but by the time Marx had finished Das Kapital many of the policy changes he actually pushes had been done out of necessity. people keep ignoring what was going on in the bigger picture when Marx was alive and working on his book or they read the pamphlet and go no further. for a preview if you were a plant worker you were just this side of a slave. the boss controled the clocks that told you when you started and could leave (and a not insignificant number slowed the clocks to extend the work day with out paying for the extra time), your wages were poor, you could be beaten or fired for any reason, damage to equipment was docked from pay based solely on the foremans say so. if you were caught in a machine your family was often charged for the time needed to shut it off and extract you. these are just some of the working conditions of the time. my advise to people before judging Marx actually look up what he was arguing against and answer for your self "would you not stand against these practices?"
Loved it❤ you’re so hardworking
Thank you so much!! 😊
Two things can be true at once. Capitalism causes economic growth. Capitalism also exploits the poor and causes inequality. It apprears that the Governments role if using the laissez-faire approach is to ensure low cost means of production. Eg, ensures that the working class societies remain destabilized.
Why are people poor?
They have no marketable skills.
They have children they can't afford.
They have no understanding of money
They have no career goals
So how is that capitalism's fault?
What about personal responsibility?
your wrong on so much of that
ok the man who is the person people literally use as the guy....Marx is the easiest to destroy and make the entire ideology crumble like a tower of cards...
Marx and EVERY SOCIALIST advocate on earths argument against capitalism is the Pareto Principle....THAT IS 100% the argument......but NONE OF THEM OR MARX SEE IT...
Pareto principle applies to communism, capitalism, and socialism too kid....only difference is in communism or socialism the top 20% of the Pareto principle are government workers....not people selling a good or service to willing customers.... AN ARGUMENT AGAINST CAPITLISM IS INHERENTLY AN ARGUMENT AGAINST FREEDOM
Adam Smith and Karl Marx did not see that free market with competition is a Tragedy of the Commons Problem which a government exacerbates or tries to mitigate....but never solves.
something that I find interesting is that the Boom and Bust Cycle is usually caused by more and more government interference in the market. Every time the government interferes in the market, it creates a bubble like the recent housing markets and the ones in the 2010s that eventually burst causing instability. The same can be said for the great depression where the government kept subsidizing the banking industry and promoting the early stock exchange.
Or that Capitalism only works in theory and not in practice and is complete pseudoscience.
Boom and bust is caused by the greed of the bosses and overproduction for markets that can not absorb all that can be produced. Capital is a social force that is controlled primarily for the benefit of private owners and to increase the value of the ruling capitalist class who controls the government as their executive committee. Of course the bosses seek to make themselves richer by any means possible. Bush was creating the ownership society and fighting an axis of evil to create a "New World Order" only to have the whole neoliberal project blow up in their faces.
Um. You need to continue reading. Boom and bust has been with capitalism since it was coined. The kind of boom and busts have changed.
@@ricardomurillo5205 They've had to enter as the executive committee of the ruling capitalist class to save the system. They can't use the ordinary and long drawn out methods of the bankruptcy courts. When they can't use profits to expand production because markets are full of unsold overproduction they drive up the value of fictitious capital until it collapses causing an economic crisis. That's been a feature of capitalism since the Dutch Tulip bulb crisis. You create paper values that you sell and trade in You can't help doing the things you do because you are driven by profits.
@@kimobrien. true. Now that you mention it the Dutch 🌷 is so similar to the kryptocurrency phenomenon.
The most important aspect is not violating people's rights.
trans atlantic slavery says other wise
@@soranoaz_8407 How can you justify slavery and still maintain universal principles?
capitalism caused the trans atlantic slavery, its market and its continuation many famines and genocides were artificially created by capitalism in history that is violating peoples rights not only but taking them@@quatele
@@quatele At the end of the day the human right capitalism defends is the right to trade and privately own the capital which is a social force. A social force that must be set in motion if production is to take place.
Capitalism has always needed a enemy to scapegoat and blame for it's own failings, the current system where there must be 'losers' so there can be 'winners' is flawed and unsustainable and accelerating the pollution and destruction of the planet.
Capitalism always crashes eventually by design, due to greed and corruption of the 3% and fascism is an inevitable feature when it does.
Wow , amezing presentation 😊....
Thanks a lot 😊
very good video, clear explanation
Glad you think so!
Id like to see a video about WHY each part of kapitalism is - the reasoning for each topic of it
Please do a video on Distributism.
That’s a great idea! Thanks!
@@IllustratetoEducate 1) To sustain a free market You must tax the extreme concentration of Wealth and then give it evenly to everybody , again and again, so that the market can have customers (i.e. humans with money to spend).
2) Do not let foreign entities extract profit from our markets. We must extract profits from their markets.
Grade 9 in Saskatoon says we like the drawings! It was very quick, but it stuck. The drawings made the information easier to understand. Bravo!😍🤩🤪😶🌫
Good to know! Thank you for watching!
Well illustrated
Can't forget about things like the reserve army of labor - which actively prevents job creation; outdated ip laws - which incentive gatekeeping research and innovation forcing redundant labor; things like discrimination being reinforced and reinforcing the system - which strangles innovation; the fact that nothing profitable ever gets done unless done by government or small communities/organizations - for example the government made the smart phone and the internet; the fact that not everything good is profitable and not everything profitable is good - such as discrimination, workers rights violations, ignoring externalities such as food waste, union busting, climate denial - to be non-profitable is to be non-competitive, and to be non-competitive makes you an at-risk company, so when most companies make extra profit by paying their non-white workers less, the company that isn't is no longer competitive and has to pick up the slack, potentially needed to compromise their morals or risk going out of business. You see capitalism doesn't give anybody great freedoms, rather it binds all of us to obey the intricate system of Capital, business owners act in their best interests to keep their businesses running, and workers act in their best interest to pay rent, and all of this means the majority of people are going to suffer to give a minority extreme economic and political power. Also although Capitalism is supposed to work based off the successful reinvesting their wealth into the economy, those people don't have to, and can even choose not to - which is called a capital strike - and is useful for when the government does stuff those rich people don't like - displaying how even without paying money to government officials, the rich can still effectively control legislation and other political decisions.
The system of Capital is an outdated method to organize society, the support of it is nothing more than the repetition of the ideas of the ruling class, which become the ruling ideas via the power and wealth the class can afford on spreading those ideas.
The funding for the ruling class ideas > the funding for other anti-ruling class ideas, therefore you will hear those ideas more, even if they're worse; just another funny quirk of capitalism.
You see before capitalism, most laborers owned and controlled their own labor or were part of a guild that each laborer owned and controlled. Now all the ownership and control is in the hands of the investors, leaving each laborer pracically slaves to Investors.
Slavery requires force.
True, its incredibly depressing that there are actual laws in the US that force companies to place shareholders about their employees
No, capitalism is based on the rights to peoples own property and labor, before capitalism commoners had no property and only borrowed it from whichever lord or king owned the land. Capitalism gives each worker the rights to their own labor which they use to negotiate a fair trade of value with the capitalist.
@@shnitzilhazel9957 The Right to own private Property and to own other peoples Labor is not freedom its a prison to those who dont have the power. Additionally investors are prioritized over workers.
@@forlorndream Its based on the individual right of a person to own property. In a true capitalist system, only the individual has the right to their own property-no one else, and that right is extended to everyone. That is true freedom.
idk what you mean by prioritized though.
Good stuff
Thank you!
Nice work man
Appreciate it
"welfare capitalism" is just another term for mixed economy. Pure capitalism is at its core Laissez-faire. This is why it is incorrect to refer to the U.S. as a capitalist economy, as laissez-faire does not exist except for in some very small areas of society. It's important for people to understand that blaming "capitalism" for problems they see in current society is by definition false blame.
Welfare Capitalism doesn't mean mixed economy
@@Angel_559_ Yes it does. That's why it's called "welfare capitalism" and not just capitalism.
@@theelwoodful What if it's a social market economy?
@@theelwoodful Laissez-faire is just a form of Capitalism
@@Angel_559_ A social market economy is also a mixed economy. Also not called capitalism for a reason.
Great piece of content, bro
just awsome , thank you so much
Glad you liked it! 👍🏼
Capitalism leaves people behind in favor of profit
People who are left behind have nobody but themselves to blame. Successful people study and learn how to produce goods and/or services that other people want and need. They EARN their success.
Unsuccessful people never bother to learn anything worthwhile. They spend their lives doing meaningless things and wonder why they were left behind.
@@johnnynick3621That's a generalized claim.
@@theintrovertedaspie9095 No.... it is NOT a generalized claim. Successful people ALL follow the same basic pattern... they figure out early in life what they are good at that could put them at an advantage in the marketplace... then they pursue that advantage by acquiring skills, knowledge and experience. When they see the marketplace shifting, they make adjustments.... but they keep going.
Unsuccessful people usually just get jobs... they wait for someone to "give them a break" or a "hand up" instead of making their own opportunities. They grumble with envy when someone else gets ahead... but they never wonder WHY that person got ahead... or HOW they got ahead.
Is it any wonder why MOST people are NOT successful. It's hard work. It requires effort.
Most of you are too lazy for that.... so, you deserve what you get... or don't get.
If that is too blunt... if it hurts your feelings.... too bad.
That doesn't make sense. In order for the person to profit they must provide a good/service people want. So their drive for profit means they need to have a drive to do good by us.
@@johnnynick3621 Wrong there are many reasons, not everyone gets the same start in life, the same opportunities, good advice support and guidance, some have learning difficulties, public school systems do not teach students how to think like a boss just a good obedient drones.
Are you able to do one about Distributism? I like the way you explain things
Definitely! Thanks for the suggestion.
@@IllustratetoEducate God and All scientists do not know that the concentration of Wealth in the hands of an Owner happens in two ways:
1) The free market, no matter how much it is regulated, leads inevitably to extreme levels of Wealth concentration.
2) The exploitation of the Employee by the Owner, also, leads inevitably to extreme levels of Wealth concentration.
The only sustainable solution is perpetual redistribution of Wealth from places of Extreme concentration (regardless if private or public) to every citizen evenly. A Repeated Redistribution is the only way towards a more equal society because nobody can stop the exploitation at the work place and nobody can stop the concentration of Wealth by free trade.
I wish you were my school teacher. I would have paid attention more. 👍
The positive and negative about the capitalistic system we play in without thinking. I heard on the news about a female who just out of a Uber car because they was going the wrong way, that the driver refuse to answer her, when she told the person they not going the right way. If we look at the direction capitalistic lifestyles are going, that the majority setting around watching it, and not saying anything. Every wrong turn they can see, every pot hole they can feel, and every accident they are in, but still set around like nothing is going on. What is a capitalistic system? Some think it is the way we see it, in how it designed us to play, in the irresponsible way. Ignoring all the things that brings a negative reaction on the economy we watching every day. Where the greedy takes the lead to bring forth our day in how we all should play. Ignoring how it bring forth setback to the economy, we call inflations, recessions ways. See it so easy to see when a person moving in the opposite way from the negative economy way. Who trying to seek out for a better way, but it is also so easy to force them to change direction, and for them to go back in the negative way. That just the capitalistic way to buy them off from going the opposite way. See a good capitalistic system educate the people to move forward together towards the future. The bad capitalistic system shows the people how to be like crabs, working together to hold each other down. That we see all kinds of groups love working with the negative capitalistic system to fill their pockets up. Who mind only can see nothing but one kind, is why we never see a change into anything they put down, just a lot of sounds. No one really want to get out of the place they complain all the time about. Just think about the decades, and centuries they been passing on the same things to the next generation. Not a solution, but just a complaint. If every nation we see that have rose to greatness, we know it were not from complaints, or setting on our ass praying to our Creator for a better day. All the things we do that some think is right, add up to fall in line with the negative way, by seeing how it set the country back as we fall in the recession way every time, and still have nothing to say.
God and All scientists do not know that the concentration of Wealth in the hands of an Owner happens in two ways:
1) The free market, no matter how much it is regulated, leads inevitably to extreme levels of Wealth concentration.
2) The exploitation of the Employee by the Owner, also, leads inevitably to extreme levels of Wealth concentration.
The only sustainable solution is perpetual redistribution of Wealth from places of Extreme concentration (regardless if private or public) to every citizen evenly. A Repeated Redistribution is the only way towards a more equal society because nobody can stop the exploitation at the work place and nobody can stop the concentration of Wealth by free trade.
1) To sustain a free market You must tax the extreme concentration of Wealth and then give it evenly to everybody , again and again, so that the market can have customers (i.e. humans with money to spend).
2) Do not let foreign entities extract profit from our markets. We must extract profits from their markets.
@@reasonerenlightened2456 ok the man who is the person people literally use as the guy....Marx is the easiest to destroy and make the entire ideology crumble like a tower of cards...
Marx and EVERY SOCIALIST advocate on earths argument against capitalism is the Pareto Principle....THAT IS 100% the argument......but NONE OF THEM OR MARX SEE IT...
Pareto principle applies to communism, capitalism, and socialism too kid....only difference is in communism or socialism the top 20% of the Pareto principle are government workers....not people selling a good or service to willing customers.... AN ARGUMENT AGAINST CAPITLISM IS INHERENTLY AN ARGUMENT AGAINST FREEDOM
@@reasonerenlightened2456 you end up with same thing when redistribution happens too kid...stop playing the fool
@@corryburton9252 Perpetual even redistribution of some of the Wealth is the only solution to the scourge of the free market and the exploitation of the Employee.
@@reasonerenlightened2456 exploitation of the employee is a phrase of the economically illiterate......
redistribution is not a good idea in any way, shape, or form...
you say scourge of the free market.....yet THE ONLY THING THAT HAPPENS IN THE FREE MARKET HAPPENS IN SOCIALISM AND COMMUNISM TOO LITTLE BUDDY......
you are using Karl Marx's IGNORANT arguments without even realizing it I think...not realizing your "problem" is A NATURAL LAW called the Pareto principle..
which happens in communism and socialism, except instead of the top 20% providing a good or service....the top 20% are government workers paid by stolen money from citizens....
in short, your assumptions are all ignorant of natural law and economics
sorry kid not trying to be an ahole but this is something that I have to correct people on all day every day
you know what an employee is worth in a field with no building, tools, or equipment?
nothing, capital matters kid
Give me power and ill fix everything
You got my vote
Vote for Presidential3228 this 2024
Most comment sections have right wing people saying that there has been a lot of deaths under socialism, but this comment section has figured out about the uno reverse card.
Not really I think many here are biased and illustrate to educate quite naive on some subjects, Abbey Martin's/empire files - America's unofficial religion, the war on ideas, puts it all in perspective of why many will happily fight and die for their capitalist masters.
I read somewhere that Adam Smith said the capitalism would fail if there isn’t discipline which I fear that is happening in the U.S. I haven’t read his book so I’m not sure if it’s really written anywhere.
America hasnt been capitalist for a hundred years kid
Poetic journey: the essence of refund details and expected actions
Nice ! 👍
good job bro
Thank you! 🙏🏼
Outstanding 🔥🔥🔥
excelent video!!
Great video!
Glad you enjoyed it
Capitalism allows the smart and capable to succeed while also providing sustanance to the not so smart and not so capable.
And rich!
Thanks for explanation
very cute illustrations 😊❤
1:50
Well, I've realized that whether the economic system is,there will always be poverty and inequality between people,even despite the fact how good socialism is.
True. The only way to equality of wealth is communism.
SOCIALISM GOOD? THAT IS LITERALLY AN EVIL THING TO SAY
ok the man who is the person people literally use as the guy....Marx is the easiest to destroy and make the entire ideology crumble like a tower of cards...
Marx and EVERY SOCIALIST advocate on earths argument against capitalism is the Pareto Principle....THAT IS 100% the argument......but NONE OF THEM OR MARX SEE IT...
Pareto principle applies to communism, capitalism, and socialism too kid....only difference is in communism or socialism the top 20% of the Pareto principle are government workers....not people selling a good or service to willing customers.... AN ARGUMENT AGAINST CAPITLISM IS INHERENTLY AN ARGUMENT AGAINST FREEDOM
THANKS!
Capitalism limits productivity because it requires certain levels of profitability (usually through productiveness) from every employee. This blocks inefficient proletarians from capital, leading to empty storefronts and uncultivated land.
ok the man who is the person people literally use as the guy....Marx is the easiest to destroy and make the entire ideology crumble like a tower of cards...
Marx and EVERY SOCIALIST advocate on earths argument against capitalism is the Pareto Principle....THAT IS 100% the argument......but NONE OF THEM OR MARX SEE IT...
Pareto principle applies to communism, capitalism, and socialism too kid....only difference is in communism or socialism the top 20% of the Pareto principle are government workers....not people selling a good or service to willing customers.... AN ARGUMENT AGAINST CAPITLISM IS INHERENTLY AN ARGUMENT AGAINST FREEDOM
the pro lateriat is nothing more than the definition for enemy by an economically illiterate author
There is a large misunderstanding about capitalism where it is confused with corporatism.
Capitalism is in fact an absence of system/control.
The individuals have a natural right to have ownership/sovereignity/authority/power over their own life, works/trade/business, and property.
Any violation of this right is the very definition of what a crime actually is and also what slavery means.
Under capitalism the individuals has the right to decide for themselves who they will associate with, interact with, do business with, and decide on what terms and conditions that should happen on.
And its the natural Law that will be enforced by a free market of competent professionals with a high level of integrity who will enforce the Law by protecting the individuals Natural Right.
What we are under today is corporatism which is a collective form of thinking.
You are absolutely correct William. Unfortunately, the definition of capitalism is no longer taught in school and very few people know what the word means.... much less understand the concept. Keep trying. Thanks!
@@johnnynick3621 not fully true, the reason I am on this very video is to do a homework on the definitions of Capitalism and Communism, so at least some schools cover it
Thanks finally
@@BenCarpendale I'm anxious to see what you discover, Ben. Most of the people who THINK they know what the word capitalism means are hugely mistaken. It's a very simple concept that very few understand. Let's see how you do.
my comment are getting deleted
Capitalism is systematic production. Economy is systematic distribution. Government is systematic protection. Kapitalizm jest systematyczną produkcją. Gospodarka jest systematyczną dystrybucją. Rząd jest systematyczną ochroną.
Capitalism is internally contradictory because different groups & classes in capitalist societies have conflicting selfish goals & interests.
okay? its natural. Having a communist and socialist economy is just retarded
Wait till you hear about 4 square
There are no conflict between rational people.
No, we business owners all have the same goal... make as much money as possible.
@@youtubesucks1499Why do you think capitalist societies are identical to business owners?
I love Capitalism ❤❤
The best economic system, it's even better when the goveement doesn't have their hand in the game.
In fact, government having their hand in the game seems to be one of the ONLY ways capitalism can “fail” and it’s outcomes turned badly.
Socialism isn't when the government does stuff.
This is stupid the govt is here to control your exploitation
the best? THIS is the best? So your telling me that it doesent get any better? Jeez kill me now.
@@murlocmaster6192 THIS (as in our economic system today) isn’t the best, because government currently has its hand in the system to create special privileges for private interests. These privileges (subsidies, trade acts, regulations, etc.) crush the ability to compete against those with untold capital and allow only those remaining few players to maintain a stronghold on their respective industries and charge what they want. But if government didn’t have its hand in the pot, the market would naturally correct itself.
For instance, if someone at a farmers market was charging $2 for a bundle of produce, but others only charged $1 for the same bundle, people would naturally vote with their dollar to support the farmer who sells at the lower price point. The farmer charging $2 would lose its customer base and go broke. But if regulations in agriculture increase the operating costs of running a business in said industry, only a few can remain and compete. Suddenly all we have left are prices for products or services that few people find worth the asking price.
Both Adam Smith and Karl Marx are correct about capitalism, it can be either. Capitalism left to it's own devices eventually falls into monopolies and tyranny, the full restriction of capitalism stops growth, freedom, quality of life, and de-incentivizes progress. Like a nuclear reactor, capitalism is incredibly powerful and efficient, but naturally unstable without proper guidance and infrastructure. We're currently heading towards a melt down because of poor guidance.
You are severely mistaken. Capitalism makes monopolies nearly impossible. The only possibility of someone capturing an entire market in a free society is to provide such an incredible value to the consumer that nobody would be capable of improving on that offering.
Capitalism does NOT lead to tyranny.... a tyrannical government leads to tyranny. In a true capitalist society government is restricted to ONLY protection of individual rights.
Capitalism is NOT unstable. The instability we as a society experience is ALWAYS caused by government interference in the marketplace. When government interferes in the economy businesspeople tend to withdraw assets to a safe place which causes a recession and unemployment.
We are currently heading toward a meltdown because we do NOT have a capitalist society. Instead, we have a Welfare State that regulates EVERY aspect of our economy in accord with the wishes of a small group of influential people who seek control and power.... and YOU are helping them by blaming the one system they despise.... a free and unfettered marketplace.
Educational
''The failure rate of Socialism stands firmly at one hundred percent.'' That quote from my book Handbook for American Conservatives [Amazon Kindle] will never be disproven.
Capitalism aka the best all around economic system for all!
tell that to people who are working min wage jobs
@@tinkletink1403 done it and I know hundreds....they agree....most people live in echochamber cities where they never actually hear anything outside their worldview kid
@@corryburton9252 sure pal … in your dreams 😂
@@tinkletink1403 I bet you dont even realize why minimum wage was created....because it wasnt to help the working class....thats flat out propaganda kid
minimum wage was literally created by Democrats to keep black people out of the workforce kid, that is a historical FACT
@@tinkletink1403anyone working a min wage job isn't putting anything into their career. You can literally get some type of training in a bunch of different fields for 2 years or less and make double the min wage.
No matter what it’s just people exploiting other people
Everyday a new sucker is born
You are going to own nothing, and like it!
@@jimbo2834 Some people already do under capitalism so whats the diff? Other than ego driven and greedy can never be satisfied with what wealth and privilege they have.
@@jimbo2834Thats simply just false
@@sophiepooks2174 ok the man who is the person people literally use as the guy....Marx is the easiest to destroy and make the entire ideology crumble like a tower of cards...
Marx and EVERY SOCIALIST advocate on earths argument against capitalism is the Pareto Principle....THAT IS 100% the argument......but NONE OF THEM OR MARX SEE IT...
Pareto principle applies to communism, capitalism, and socialism too kid....only difference is in communism or socialism the top 20% of the Pareto principle are government workers....not people selling a good or service to willing customers.... AN ARGUMENT AGAINST CAPITLISM IS INHERENTLY AN ARGUMENT AGAINST FREEDOM
91 years after Adam Smith wrote his book about the wonders of capitalism, Karl Max wrote his book criticizing his thesis. Today, under United States (US) capitalism, 38 million Americans live in poverty and 60% live from paycheck to paycheck, while 9 of the 10 richest men in the world are US citizens. Where is the harmony that Smith spoke of for the 99% of US citizens? In stark contrast, the People’s Republic of China, the second largest economy in the world after the US, has already eradicated her poverty, despite having 4 times the US’ population. Today, China and BRICS are economically outperforming the US and the G-7 since 2020! The US hypocritically claims to support Taiwan’s inalienable right to self-determination and independence, while it has consistently refused, a win-lose attitude, to comply with 42 United Nations’ resolutions demanding that it immediately return Puerto Rico’s sovereignty to the Puerto Ricans. And, on Wednesday, July 24, 2024, the US will host, at the Capitol, the international pariah Netanyahu, so that the US could continue to unconditionally support his genocide against the indigenous people of Palestine. It is now very obvious why, in the US, the teachings of Karl Max has always been taboo. History has proven without a doubt that Max’s critique of capitalism is totally correct. It is indisputably impossible to be the champion of democracy under capitalism! Capitalism is the undisputed champion of plutocracy.
Jose, the breadth and width of your ignorance knows no boundaries.
Prior to 1978, China was a closed and totally controlled economy and was one of the most impoverished nations in the world, on the brink of economic and societal collapse. The Chinese Communist Party were forced by threat of revolution to open their economy to freer markets. They permitted citizens and foreigners to own and operate for-profit businesses and since then, their population has thrived.
While no nation on Earth has ever actually attained the status of true Capitalism, it is a FACT that the closer any nation comes to total economic freedom, the more their citizens thrive - and the more restrictive their economy, the more their citizens suffer poverty and lack of resources.
Capitalism is nothing more than the freedom to conduct business without government intervention - so long as you do not deprive others of that same freedom.
@@johnnynick6179would you say that limiting and preventing the abuses of capitalism does not require a communist marxist society?
Can we just keep Communism from abusing the middle working class and force the top to pay their workers livable wages so they can do what they want with their left over time and money?
New sub❤
People who defend capitalism needs to be put in the streets like in downtown LA with all the homeless people.
People who defend socialism need to go anywhere in china (like seriously that place is crazy)
People who defend communism should…. Go somewhere. There’s never been a true communist government so I don’t know where to send them 😭
People who defend Anarcho-capitalism need to visit the east India trade company (closest example I could find 💀)
People who defend anarchism in general need to quit watching V for vendetta and watch SpongeBob instead. Seriously SpongeBob is goated
People who defend @shigshug8581 need to go to his channel (his videos are interesting)
Amen to that.
Agreed, I want to throw up when someone says they love capitalism, and how it allows you to accomplish your dreams. While stepping on the dreams of others.
An addition is that our economy has slowly become less capitalistic one law and policy at a time ever since the gold standard was removed.
If you don't like todays system then you have and issue with something like "techno feudalistic corporatism" that's slowly eating the capitalism base its sitting on.
Really though the fact that its takin this long (few lifetimes) for corruption to drive it down and the fact that politicians had to erode at it to do this is a real testament to good a system it was while we had it.
not much of a student of history I take it? some of the worst living conditions for the majority of people was when the plant owners and corporations had the least controls imposed by government and labour laws. while the current corporatism is less then ideal I will take the absolute worst of the modern ones over the industrial revolution in a heart beat, but then I like being able to afford an actual bed (labour laws gave us that option not capitalism)
@kertagin1
Wrong there weren't appropriate and adjusted laws during certain moments in time and as they were adjusted more to match the capitalism they were apart of it got better but starting at 1971 at least we've slowly drifted away from it again. Corporatism is not capitalism nor is it the next stage like some ignorantly say.
@@kertagin1 YOUR ignorance of history is profound, Kertagin. Prior to the Industrial Revolution the majority of people were agrarians living hand-to-mouth, season-to-season under the rule of a monarch or nobleman who leased him land and a dirt floor hut and allowed him and his family to work that land in return for a percentage of what he raised. Conditions were horrendous by today's standards. Disease was rampant. Infant mortality rates were astronomical, and life expectancy was abysmally short.
It was the Industrial Revolution that resulted in ALL the modern conveniences YOU take for granted. It was the industrialist/capitalist that dragged civilization, kicking and screaming like spoiled children, out of the Middle Ages.
@@johnnynick6179 your funny. Calling my ignorant while repeating long debunked myths of the middle ages while ignoring the recorded conditions of the industrial Revolution by its conteporary authors, photos, news reports etc. Capitalism had in the US a for hire army that shot protestors asking for living wages among other horrors but sure I'm the one who don't know the history.
@@johnnynick6179 cute. so what your saying is you swallowed the poison cookie of modern Capitalism propoganda.
in the middle ages yes agrarian was the norm, and kings were the norm. living hand to mouth... false. most families had a cow or two and/or couple pigs and chickens or geese. they would plant crops on the common lands to ensure their food supplies (the commons was not taxed). disease was rampant till vaccines were developed (and that knowledge was spread for free, one could almost call it communist)
taxes were far less and not consistent as the primary tax was on trade or owned land not income.
the mortality rate was high as it counted the many babies that died. but if you made it to adult you life span was similar to today
the industrial revolution brought us chimney sweeps, child miners, factory towns, the Pinkertons, cramped slums in the cities, starvation wages, in London the average factory work made 4 pennies a day and this allowed you to buy a meat pie and maybe afford to rent a coffin bed with a tarp blanket, or you could save money and rent a chair to sit but not sleep on, or a rope to lean over. as well as vagrancy laws that put you in a work house for not owning a home to sleep in. your grasp of what was going on is hilarious. life quality improved with the unions who fought to bring back some of middle ages standards (they worked less hours a day and had more days off).
you need go back to study history
Crony Capitalism is when politicians get involved.
There is NO SUCH THING as crony-capitalism. There is "cronyism" and there is "capitalism". They are two totally different things.
@@johnnynick3621
Maybe you should Google it.
*Politicians and corporations
American capitalism still has many human, economic, environmental, cultural, and social problems in a concern. - There is difference between Democrats and Republicans in our federal, state, county, and local governments across our country. For years, our deaf citizens, other citizens with disabilities, people of color, other minorities, immigrants, women, girls, seniors, children, ethnicities, nationalities, religions, and other have had been experienced in unfairness, discrimination in practices without any reasons, being unfairly treated in situations in anywhere, lacks of awareness, inequalities, denials, stereotypes, prejudices and any rejections in reality. At my younger age of my childhood life, I remember that the new US President John F. Kennedy made his important & important statement.-“Life is not fair”.
Blaming capitalism for every injustice you see is irrational. The US has NOT been a capitalist society for at least the past 100 years - arguably since its inception.
Capitalism has NOTHING TO DO with discrimination - that is an injustice practiced ONLY by individuals - NOT by the system called capitalism.
You should learn what capitalism - the word - actually means.
@johnnynick6179
If it was capitalism, many big companies in 2008/9 would've been allowed to fail for making bad decisions.
What we have is socialism for the super rich and capitalism for everyone else. 😳
@@alphaomega1351I don't know who made up that ridiculous expression but it makes no sense. We do not have "capitalism for the rest of us".
Capitalism is economic freedom - a lack of all government interference in financial matters. We don't have that. We have the opposite of that.
Max was right now we have 1%
*Marx.pure Marxism has never been tried anywhere, only a few Scandinavian countries have democratic socialism, they were rated the happiest countries with the best standards of living for all citizens, before they allowed too many religion of peace immigrants in.
The things people describe as cons of capitalism are actually the result of government intervention for the most part.
especially the economic cycles...
Very true…
When Govt chooses winners and losers, politicians win and people, capitalism and freedom loses.
@@serkratos1216 ur talking about bust and boom cycles?
The drawings / visuals in the beginning were useless. You basically read a text book definition of capitalism and drew some figures that took longer to understand than the speed of the video. Anyway good job, I don't think I could make a better video.
…thanks for the compliment…i think! 🤔 😅
Karl Marx is set to become right with his prediction. 🇺🇸
“Karl Marx is set to become right with his prediction ” people when his prediction of Calculus being wrong comes true and not his other stuff about capitalism (they should’ve been more specific about which prediction)
Thank youu
Can you make a video about conservatism?
For sure! That’s a great idea! 💡
The new conservatives would be a better one what their agenda and belief is.
@@sophiepooks2174 to conserve the rights and standards we have for over a quarter of a millenia
Capitalism is the best system we have.
Capitalism causes inequality which detracts the idea of a meritocracy socialism logically makes more sense
Some Americans love military benefits, and the military is socialist.
@@somethingwelovet2188 Capitalism does not cause inequality... nature causes inequality. We are NOT born equal.... and there is NOTHING you can do to make everyone equal. You can try making everyone equal.... but that is evil and will NEVER work.
Well the best system we have is polluting the air we breath, emitting tons of carbon which would cause climate change, causing fast food consumption and obesity rates to rise because of health food prices going up and food deserts, and probobly the lack of health education. This causing people to spend most of their waking hours working themselves to death just to make ends meet which leads to burnout. This is all to keep people busy so they'll keep consuning stuff they dont need just to fill a void in themselves. Not only that, but we also keeps building highways and infrastructure thats car-centric in many cities which causes tons of sound pollution and air pollution. And because of all these car-centric roads and zoning laws, everything is all spread out, making it hard to get anywhere safe withoute having to use a car. And the losing of third places. Combine those with the rise of the internet and social media, everyone is feeling more connected than ever before. But we are still very isolated from each other. Because of this, zoning laws, and car centric infrastructure kids don't go outside as much and dont get the exercise they need. Average lifestyles seem to be coming seditarty as a result. Which is another reason for rising obesity rates. All this combined with burnout and working long hours its bringing fourth a pandemic of alienation and loneliness. Not only from our friends and family but also from ourselves.
@@theintrovertedaspie9095 Actually, life has always sucked. As the buddha says, "life is suffering". Maybe we shouldn't exist at all. Life is suffering, pain and misery for all animals on this planet, but I agree with your comment.
American dream 1776 -1971 = Good capitalism
1972 - 2024 = Capitalism Broken
American Dream -
Completely Gone😢😢😢😢😢😢😢
You think the age of the robber barons and unions literally having to fight for their wages was "the American dream"?
@@WanderingExistenceYes-only brainwashed socialists still believe unions were good and industrialists were bad.
So, in other words, it's a different word for entrepreneurship 😂
I believe that free markets can be great and capitalism is not. Those are not contradictory statements, for the record.
Yeah you could be a market socialist arguably
Capitalism == Free Markets. Look up the term, as the French say "laissez-faire" if that helps.
@@quatele That’s only one aspect of capitalism. I know what laissez-faire means. I’m going to assume that you were not intentionally being patronizing. For the record, most capitalist economies aren’t laissez-faire. You could easily look at Japan, Germany, South Korea, even the US as examples. All undeniably capitalist, and definitely not laissez-faire.
@@bradencolaner4811 I am using capitalism as a synonym of laissez-faire. By "capitalism" I see you mean our current mixed economies, which I would call half socialism and half capitalism, or some such ratio. Mixed economies exist world wide, so by my definition there are no pure capitalist nations, just some are more capitalist than others. It also varies by industry, so it's not an apples to apples comparison.
@@quatele You would be wrong to use that as a synonym. The first use of the word “capitalism” did not mean laissez-faire economics specifically.
In this modern world. There is no pure Capitalism or pure Socialism. Even the good old USA is 80% Capitalism, and 20% Socialism.
You do realize socialism is the abolishment of private property.... There's not 20% the abolishment of private property
@@WanderingExistenceNo- socialism is when society owns the means of production. Communism's goal is elimination of private property. They're both horrible.
The US is NOT a capitalist society. It is a Welfare State. Even back in 1776 we weren't a capitalist nation. In order to be deemed a capitalist society, the government must have NO CONTROL over trade or business.
Capitalism>>>
I think capitalism is the best system with the best ideas but I also think some of the ideas of capitalism need to be amended with the primary focus and objective now being sustainability not growth. I also think the idea within capitalism that greed and selfishness is somehow a good thing needs to be forgotten. Greed and selfishness in any economy is not good. Competition is good but capitalism also needs to be encouraging much more honesty and responsibility and also promote cooperation, fairness and morality. If capitalism is modified in this way maybe we can’t call it capitalism anymore. Perhaps we can take the good ideas from capitalism and combine it with some of the good ideas from socialism and call it something else. Sweden, Finland, Norway and Demark have had some success it doing this.
The thinking that the economy (the production and exchange of goods and services) always has to grow for there to be innovation, progress and prosperity will eventually become a problem on a finite planet. This may have worked well in the past when communities and societies did not know the scale of the planet and the environment but, I think the focus now needs to be on sustainability not on growth! There needs to be flexibility in the system for the economy to be able to expand and contract and for a contraction to be considered normal and not a problem or a failure and for the contraction to be just as innovative and prosperous as the expansion. For this type of thinking to work, there need to be some new economic models developed along with some new types of financial systems.
If the academics along with the economist, engineers, politicians, corporations, capitalists and entrepreneurs can figure out some new economic models that are based on sustainability instead of growth, I am sure there will be some noble prizes awarded. The way this can begin and at the same time improve peace, fairness and morality is when our business, government and academic leaders, along with our wealthiest and brightest and smartest among us can start learning how to be much more truthful and honest.
People don’t have to love each other. They do not even have to like each other but, they do need to understand that the wellbeing and happiness of others benefits everyone and is the bases for morality. This should also help nations start to build trust and respect in each other so that they will no longer feel the need to spy on each other or feel the need manufacture weapons that can wipe out most of the life on this planet and from there start working towards reducing and eventually stopping the manufacture of weapons for war.
If people are struggling to survive or risking their lives defending themselves fighting wars, they will not care about anybody else or about the damage and devastation of their towns, cities and communities including the planet’s environment. They will also be much more aggressive and willing to commit crimes and behave in violent ways with animosity and hatred toward others that don’t look like them or do not share the same religious beliefs.
Here are some books with some new economic models and ideas that look like promising developments:
1 “Doughnut Economics” by Kate Raworth
2 “Prosperity without Growth” by Tim Jackson
3 “Confessions of an Economic Hit Man” by John Perkins
4 “Beyond Growth” by Herman Daly
“The Centre for Advancements of the Steady State Economy” is also a good source of information
There are absolutely NO moral grounds for ANY of the drivel you have cited.
Using FORCE and the threat of VIOLENCE to make productive people support unproductive people is evil - under any and all circumstances.
You can dress it up and put lipstick on it - it's still evil.
STOP advocating for evil.
It is not selfish you have to think of and create something ppl want so it is not about just your own interests that is false
It is because you will use that idea to earn money for yourself
We are broken😮
Mixedism❤❤❤❤❤❤
In Australia we a capitalist system with some good socialist ideals like affordable healthcare, but successive corrupt politicians have tried to make it dysfunctional and replace it with profit making, so the only people can afford to see a doctor if they have enough money in the bank.
There is no such thing as the "perfect economic system" but at least Capitalism has been shown to lift more people out of poverty than any other, whereas all forms of Collectivism result in subjugation of the masses to an all powerful government.
I almost agree with you - except for your assertion that there is no perfect economic system. Capitalism IS the perfect system. It is morally right and pragmatically efficient. It allows for human flourishing without the need for government coercion. Capitalism rewards the productive and punishes the lazy. It allows for sustainable profitability which enables those so inclined to help the needy who they deem worthy of their support.
Life is imperfect. There will never be a utopia where none suffer. Mankind's slow march toward Capitalism has, however, resulted in alleviating and reducing the suffering of millions of people around the world.
The biggest problem of Capitalism is wealth and power is falling into the hands of a small number of people who generally have little concern for the welfare of the mass of the people on the planet. Capitalism will solve world poverty does sound ridiculous. The Economist magazine ranks American democracy always in the late twenties of efficient world democratic governments. Consumerism, a vital aspect of Capitalism, has ruined the eco system of the planet. Making things that dont last and constantly want replacing. By advertising and marketing creating a need for a product that is not really needed, eg fashion; making unhealthy products attractive like smoking, sugar filled drinks etc; creating false and untrue and unfair criticisms of societies, say China, with a modified form of Capitalism which has been so successful for them. American style Capitalism has created an unhealthy obese violent poorly educated society which specialises in overthrowing governments not in favour of their style of Capitalism and similarly fighting wars on an enormous scale to try and totally inappropriately install their version of Capitalism on them. Could some aspects of Capitalism and Communism be combined and a superior system of government be established.
There are MORE wealthy people today than at any other time in history. MORE.... not less.
You cannot combine ANY aspects of capitalism and communism. To suggest such silliness merely points out the glaring fact that you do not know what either of those words mean.
@@johnnynick3621ok met consumer. Don't cry when your country goes broke by 2030 and a 18-year-old young will have to be required 4 years of experience to get an entry level job and a used napkin will have more value than his degree. And that's not even the worst part.
@@NicolásSánchez-z5y I have no idea what your comment is trying to say... it's mostly incoherent gibberish... but I agree that the US could easily go broke by 2030... and I agree that for most college graduates a degree is utterly useless.
What does any of that have to do with what I said?
I claimed that there are MORE wealthy people today than at any other time in history. MORE.... not less.
Do you dispute that claim?
I claimed that you cannot combine ANY aspects of capitalism with communism.
Do you dispute that claim?
Be specific.... and coherent.
@@NicolásSánchez-z5y Your silence is deafening.
"Capitalism" is so vague. You could have a market system with a large range of regulations. Also the effects of a capitalist market will differ greatly depending on the technology of the time, the culture and values of the time and place. So its hard to say what THE pros and cons of capitalism are. A libertarian might argue though that true capitalism is 100% regulation free. But since a 100% free market or pure capitalism has never truly existed just true communism never has, then again we can't really say what the pros and cons are. We can only hypothesize.
What if private companies cut jobs using ai
That’s just Terminator but without the mass genocide and more McDonald’s
Well let's see the cons:
- Income inequality: Not a problem really, poverty is a problem, inequality is not. Equality is a mathematical concept which makes no sense when applied to people, no two persons are equal.
- Exploitation: the marxist idea of exploitation relies on objective value theories, and value is obviously not objective, so marxist exploitation doesn't exist.
- Environmental impact: the search for profits motivates efficiency, efficiency motivates the use of as little energy and materials as possible, and this leads to less contamination per production unit.
-Economic cycles: This is a complex theme, but many great economists like Mises and Hayek believe this cycles to be caused by artificially low interests for the credit of central banks, so it would be a con of government intervention, and not capitalism.
Thank you for paying attention !!
The central banks will steal the wealth of the nation and put it in the hands of the few and more hazardous to people's freedom and liberty than standing armies and one day your children will wake up homeless in the land your forefathers Concord.
Thomas Jefferson told us back in the 1700s what unfair crony capitalism will bring about.
Welcome to America !!
The land of the uneducated & home of the dumb when it comes to the difference between making a demand for lawful money for free men (title 12 USC 411) and legal tender for slaves by deceit.
For hour environment thing, John Strossel did a video on fertilizer.
Fertilizer helps make more food, so farmers conserve it.
@facelessentity1088 wow, impressive argument, where did you learn to to make such incredible deductions? a mathematical logic book?
@facelessentity1088 Inequality is not intrinsically bad, if you live well only jealous people would care about the wage of their neighbour, and what you said about the 1% is totally made up.
Exploitaton is a marxist concept, and its existence doesnt depend on how much the "owner" earns compared to the workers, exploitation exists if and only if workers earn less than what their work produce, and since value is subjective there's no way to objectively determine if a worker is being exploited, thus exploitation is a mere feeling, not something real and quantifiable.
How are you going to maximize profits if you don't take full advantage of your resources? the only way to maximize profits is to minimize the amount of resources you consume per production unit, what you are telling me is illogical
@@serkratos1216The 1% is not made up, take a look at the richest people in the world. Their net worth is literally worth more than most third world countries.
Exploitation is not a marxist concept, Karl Marx didn't just create exploitation out of nowhere. Also, value is not just subjective. It is quite objective actually, because it depends on the demand and supply of said product. This is also the case for raw materials as they depend on their rarity, not because some guy said, "I feel like this is $100 per kilogram.". What you just said "Exploitation is a mere feeling, not something real and quantifiable" is by far the most stupidest thing I've ever heard.
Not only that, but I think you forgot that there are 2 types of data, quantitative and qualitative. Not just quantitative. To only objectively look at an issue, especially an issue within society, is wrong. One needs to look through both lenses and not just one.
Only selfish shortsighted idiots think of profits only for themselves. Taking full advantage of resources shouldn't be at the cost of the others. In this case, it has something to do with the person's principles and morality. Which I think wouldn't make much sense to you since based from my impression, you dont have any.
Capitalism is psychological .... very few know that.
Capitalism is invented by the Dutch Calvinists in the 17th century. They said that your place in heaven in granted by God and you can not earn it, it is given. So you don't have to take care of your fellow humans, but praise and thank God. The others have to take of themselves. That is the base of American capitalism, take care of yourself.
I have read that capitalism .You can't own a house You just work for a private ownership. Can you
Tell me something that illustate this for me
That is Not true in the least. 'Private' in this context means any individual person or entity that is private. So if the government is tangled up with a big business, that is NOT a private (capitalist) venture. With real Capitalism, people are more likely to own a house (or a car or their own business) than any other economic system.
She sells seashells on the seashore
Under said defintion, capitalism would be synonym of anarcho-capitalism :T
Capitalism in impossible in a system without government. Capitalism requires enforcement of private property rights.
Lets not overlook Conservunism...
AMERICA’S REAL SOCIALISM is REPUBLICAN CONSERVUNIST CORPORATE WELFARE SOCIALISM for (mostly) PRIVATE CORPORATIONS!
(Copy and paste to your friends)
Here’s a short list... Remember this next time someone complains about “High Taxes”.
Conservunism defined: Primarily Republican Party taxpayer funded corporate welfare Socialism. If you practice political Conservunism, you are a Conservunist politician.
“Socialism for the wealthy, ‘Rugged Individualism’ for the poor.”
“Debt is Republican Double Taxation.” (Principle Plus Interest to the Bankers)
“Taking from the wallets of the many into the pockets of the few.”
“The taxpayer bailout of failure.”
“Wait! This is how the Soviets did it!” (Before their empire died of massive debt).
Note: As applicable, the following bailouts are in dollars of their time. (Not inflation adjusted to today).
1970’s: Nixon’s printing Billions of fiat money to pay for Vietnam, 21% a year inflation results.
1971: Lockheed Aircraft Corporation taxpayer bailout, $250 Million.
1971: Amtrak, Taxpayers bailing out 23 passenger rail companies.
1974: Penn Central Rail Road taxpayer bailout, $676 Million.
1976: Formation of Government Conrail to bail out failed freight railroads ($?)
1980: Chrysler Corporation taxpayer loan guarantees, $1.5 Billion (paid back in full).
1980: Continental Illinois Bank taxpayer bailout, $1.8 Billion.
1989: Reagan/Bush R.T.C. Savings and Loan taxpayer bailout, $178.5 Billion.
1994: Orange County California Republican investment boondoggle $1.5 Billion taxpayer bailout.
1998: Long Term Capital Management (LTCM) taxpayer bailout, $100 Billion.
July 2008: Housing Bailout Package. Nationalized Fannie Mae and Freddie Mac, $200 Billion, adding $5.5 Trillion in debt to the US government accounting books.
August 2007: Bear Stearns and JP Morgan taxpayer bailout, $29 Billion.
Sept. 2008: American Insurance Group (AIG) taxpayer bailout, $173 Billion.
Sept. 2008: bush’s Troubled Asset Relief Program (TARP) taxpayer bailout, $700 Billion.
Sept. 2008: GM and Chrysler taxpayer bailouts, $30 Billion (part of TARP).
Nov. 2008: Citi Group, $45 Billion and $250 Billion for its toxic assets. Bank of America, $45 Billion and $306 Billion for its toxic assets.
2009 Homeowner Bailouts, $75 Billion. And the Economic Stimulus Plan as a result of the near economic collapse of the US Economy, $770 Billion.
More Details:
Reagan's and daddy Bush's taxpayer funded $250 billion 1988-1989 Resolution Trust Corporation (R.T.C.) Socialist taxpayer funded bailouts for the financial failures of Savings and Loan Bankers. This was done after Reagan deregulated the Savings & Loan industry in the summer of 1982. And the absolute horrendous financial decisions by Reagan’s Fed Chairman Alan Greenspan.
How about co-presidents bush and Cheney's Socialist taxpayer funded $750 billion September 2008 Troubled Asset Relief Program (T.A.R.P.), the socialist taxpayer funded bailouts for their failed Republican "Investment Bankers", Goldman Sachs, Merrill Lynch, Bear Sterns, and Insurance company AIG, and Real Estate moguls like Freddy Mac and Sally Mae.
Or how about bush's lying us into the March 2003-2011, $2.2 Trillion Iraq War For Profit complete with Socialist taxpayer funded "No Bid Contracts", “Cost Plus Contracts”, and "$igning $tatement$" to Halliburton, Bechtel, Blackwater’s Mercenaries, and Kellogg Brown and Root just to name a few. Note: 52% of all Iraq contracts went to Cheney’s Halliburton. Wheres the WMD’s George??
Then there’s Trump's March 27, 2020, $3.8 Trillion socialist taxpayer funded, inflation creating, fiat money, Corona Virus Aide Relief and Economic Security (C.A.R.E.S.) Act/s (divided into four Bills). Initiated after Trump dismantled the US Pandemic Task Force in early 2019, which would have mitigated the effects of the virus with scientific responses. The immensely reckless spending corporate welfare C.A.R.E.S. Act is a major cause of our current INFLATION.
2020-03-18, “Family First Covid Response Act: $192 Billion.
2020-03-27, Corona Virus Aide Relief and Economic Security Act: $2.2 Trillion.
2020-03-27, Payment Protection Program (PPP): 484 Billion.
2020-12-27, Consolidated Appropriations Act: $900 Billion.
Lets not forget about Credit Card Companies “Cash Back” wealth transfer programs for the already wealthy. Paid for by some poor smuck paying 29% on his credit card bill.
How about all that socialist taxpayer money to "private" billionaire sports team owners for their "free" taxpayer funded sports stadiums? Ask yourself this; should you tax money be paying for someone else (a millionaires) entertainment?
In Arizona as an example; for the socialist Arizona Cardinals Football stadium, approx $350 Million, the socialist Phoenix Suns Basketball arena, approx $200 Million; the socialist Arizona Diamondback Baseball stadium, approx $300 million; and soon AGAIN, the socialist Arizona Coyotes Hockey stadium. This time the City Counsel suckers (or collaborators) are in Tempe instead of Glendale where the Coyotes skipped out of $100 Million still owed to the Glendale taxpayers.
And lets not forget Dubya’s law breaking eminent domain socialist theft from the City of Arlington Texas to build his new taxpayer finances Texas Ranger baseball stadium in 1990. Bush received $21 Million from the crooked deal.
How about the taxpayer funded socialist Republican “vouchers” to PRIVATE SCHOOLS AND NOW PRIVATE RELIGIOUS SCHOOLS? Private being the key word for this taxpayer finances Conservunist fraud.
The Republican socialist (America's REAL Socialists), got their Redistribution of Wealth...Trickling UP!
I am not now nor have I ever been a member of the Conservunist Party.
REMEMBER: ANTI REPUBLICAN SOCIALIST CORPORATE WELFARE IS PRO BUSINESS!
Remember: Copy and paste to your friends.
Capitalism is the best system in the world
Wage labor is renting yourself via "self ownership". Employment is literally renting another human being as if they're property. The employer-employee relationship is a very insidious dynamic. Employment is a rental contract, like if you rented capital (say, a chainsaw from Home Depot), you pay rent for the "time preference" (basically the cost of time) for a piece of property. Capitalism is based on a principle of self ownership, which sounds empowering, until you realize that most people don't own capital goods other than themselves, and must rent out the authority over themselves as pieces of "human capital". This is a process of dehumanization where human beings are valued for their return on investment as capital goods. This is why, at the very least, capitalism needs unions and safety nets (or abolishment), or else the system won't value people for their human value. Importantly we must also think about our sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class to value. We must figure out a way to change this economic system if we wish to value each other.
so after watching some ideology vids it feels more like it's corruption that's the problem
Capitalism is the best economical system. If your skill is in demand, you’ll be wealthy. Get what you’re worth. On the other hand, I wouldn’t want to share the weight of my hard earned capital to someone who slow jerks in his mom’s basement
What about the skills that are always in demand, yet aren't deemed worthy of commensurate remuneration ?
You have a simplistic and erroneous view (imo).
Many in the current system take advantage of and exploit their staff for profit.
This may not be as a direct consequence of any specific ideological construct, but regardless, capitalism accommodates this behaviour.
@@JB.zero.zero.1 First of all.... anyone who has mastered skills that are in short sully and high demand will ALWAYS be in a position to earn substantial remuneration, and they do NOT need to work for others to do so.
Secondly....the idea that people who are working for someone else and being paid to do so are somehow being "exploited" is silly. It can equally be said that those who are demanding to be paid to work for a business owner are "exploiting" that business owner... which is equally laughable.
YOU have a simplistic and childish view.
I LOVE YOU
Capitalism sounds like it’s good for those who are willing to pursuit their dreams.
while restricting and exploiting the dreams of others.
@@ZaiDrizzleDrop Capitalism is incapable of "exploiting" anyone's dreams. It is the opposite of "restricting" others.
What we are suffering through today, a corporatist form of society, is the opposite of capitalism. That is the form of society YOU advocate for.
YOU have empowered the elite corporate masters you pretend to abhor.
Exactamente
Everyone cannot own businesses and therefore, poverty will increase
Why can't everyone own a business? Why can't you go work for someone who will pay you to learn a trade.... become good at that trade and in the meantime save up your money.... then go out and start your own business.
Didn't your parents teach you ANYTHING?
@@johnnynick3621 hey dumbo ... if everybody owned a business who would be doing the work?
@@johnnynick3621 So who is going to pay anyone to learn a trade, talking rot, this is not the 1960's anymore.
@@sophiepooks2174Your defeatist attitude is what has held you back. I was trained in multiple skills working for others, and I later trained others those skills while they worked for me. My daughter has a thriving business. She teaches a specific skill set to employees willing to learn. You need to stop blaming others and take responsibility for yourself.
@@tinkletink1403 _"hey dumbo ... if everybody owned a business who would be doing the work?"_
Lazy, stupid people who are not motivated toward success likely would NOT want the responsibility of owning and running a business themselves - but even they COULD do so... if they were motivated to do so.
The fact that anyone CAN own a business is quite different from the fact that most people are too lazy to own a business. It is much easier to let someone else take the gamble and do the brainwork while you play video games. The fact remains - anyone can start a business today. In the history of mankind, it has never been easier.
So great video as usual. Political opinion below.
In my opinion, Capitalism is bad. Capitalism only attracts progressivism. Also pure capitalism abuses workers. This is my opinion based off of my personal experience.
Yes, but pure capitalism isn't the only type of capitalism.
@@a-pv7sv i read that as “capitalism isn’t the only form of capitalism”. Im not lying. Ik, pure capitalism isn’t it’s only form. But I dont like to consider myself capitalist or socialist. Both are flawed systems that when merged (correctly, not like we have now), can work brilliantly.
I am more drawn to socialism than capitalism.
“Capitalism is bad” people after playing New Vegas once (the house won and they’re now a capitalist)
@@The_scrongler1978 i made this nearly a year ago, my political opinions have changed a lot. Also gambling is bad.