patreon.com/cbchapter This video covers Chapter 5 "The Rate of Increase of Total Output' of Capitalism, Socialism and Democracy by Joseph A. Schumpeter pages summarized: 9
I find the writing style of Schumpeter quite hard to understand as compared to the styles of Adam Smith and Karl Marx. Therefore, thanks for your videos and for helping us understand such an important work from Schumpeter.
You can call what was going on in the US in 1910 capitalism. And you can call what is going on today capitalism. But economists did not compute and report the annual depreciation of automobiles back then, and they don't compute and report the annual depreciation of automobiles, refrigerators, air conditioners and microwave ovens today. The Laws of Physics do not care about money or economics. The stuff still wears out. Only morons can't figure out planned obsolescence. What is Net Domestic Product? Oh GNP/GDP wasn't a thing until after WWII.
@ 5:35 you said exasperated. I believe you meant to say exacerbated.
Misspoke. Thanks!
❤🔥algorithm boost. Thank you for making these videos :0
Thank you Lina.
I find the writing style of Schumpeter quite hard to understand as compared to the styles of Adam Smith and Karl Marx. Therefore, thanks for your videos and for helping us understand such an important work from Schumpeter.
Capitalism is a great system. What do you think?
Capitalism is for capitalist ONLY; cap. does not benefit the worker anymore. I was born in 1970, but i hear working in the 50s - 60s was real sweet.
You can call what was going on in the US in 1910 capitalism. And you can call what is going on today capitalism.
But economists did not compute and report the annual depreciation of automobiles back then, and they don't compute and report the annual depreciation of automobiles, refrigerators, air conditioners and microwave ovens today. The Laws of Physics do not care about money or economics. The stuff still wears out.
Only morons can't figure out planned obsolescence. What is Net Domestic Product? Oh GNP/GDP wasn't a thing until after WWII.