What is Capitalism? Capitalism Explained | Pros and Cons of Capitalism? Who is Adam Smith?
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- čas přidán 25. 04. 2023
- Have you ever wondered what Capitalism is? In this video, we’re going to look at a simple explanation of Capitalism as well as the pros and cons.
Capitalism is an economic system in which private individuals or businesses own and control the means of production, distribution, and exchange of goods and services. Under capitalism, the pursuit of profit and individual self-interest are the driving forces of the economy.
In a capitalist system, individuals are free to own property, start businesses, and compete with one another in the market. Prices are determined by supply and demand, and profits are reinvested into the economy for further growth. The government's role in a capitalist system is to ensure a level playing field for all market participants, enforce contracts, and protect property rights.
Sources:
Heritage Foundation's Index of Economic Freedom: www.heritage.org/index/ranking
Investopedia's definition of capitalism: www.investopedia.com/terms/c/...
Encyclopedia Britannica's article on capitalism: www.britannica.com/topic/capi...
Stanford Encyclopedia of Philosophy's entry on capitalism: plato.stanford.edu/entries/ca...
"The Capitalist Solution" by Andrew Bernstein
"Capitalism and Freedom" by Milton Friedman
"The Wealth of Nations" by Adam Smith
Cons of Capitalism:
"The Case Against Capitalism" by Jerry Mander and Edward Goldsmith
"Capitalism: A Ghost Story" by Arundhati Roy
"The Communist Manifesto" by Karl Marx and Friedrich Engels
#Capitalism #politics #economics
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.
And that’s why libertarianism is good as it gives the government little power so capitalism can do its thing
I assume I left a comment here which was deleted. Why would I get a notification about these comments?
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!
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.
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! 😊
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.
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!😍🤩🤪😶🌫
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!
Loved it❤ you’re so hardworking
Thank you so much!! 😊
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. 👍🏼
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.
this taught me better than my school
The communist manifesto is free on youtube and it's like two chapters long, read up
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!
very good video, clear explanation
Glad you think so!
Wow , amezing presentation 😊....
Thanks a lot 😊
Well illustrated
Nice work man
Appreciate it
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.
Great video!
Glad you enjoyed it
Outstanding 🔥🔥🔥
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.
Id like to see a video about WHY each part of kapitalism is - the reasoning for each topic of it
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.
Nice ! 👍
Good stuff
Thank you!
Please do a video on Distributism.
That’s a great idea! Thanks!
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 job bro
Thank you! 🙏🏼
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?
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!
Vive La Bourse !!!
excelent video!!
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.
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.
I wish you were my school teacher. I would have paid attention more. 👍
Give me power and ill fix everything
You got my vote
Vote for Presidential3228 this 2024
New sub❤
Can you make a video about conservatism?
For sure! That’s a great idea! 💡
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?
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.
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?
"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.
1:50
She sells seashells on the seashore
How come the people who work are poor, and those who own businesses are allowed to buy politicians?
The people who work can form unions and lobby that way. Cronyism isn't unique to the wealthy.
@@Jamesaepp Right, cronyism is unique to the poor as business block unions today.
People who work are poor… What is poor? Globally speaking almost every worker in the United States is significantly above average. By poor do you mean relative to the richest individual? If so that’s a bad comparison and a fallacy
@@valurimist9861 According to the U.S. Bureau of Labor Statistics, about 9.5 million of people who spent at least 27 weeks in the labor force were poor.
@@innerlocus That doesnt answer my question
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! 🤔 😅
Free to own property mean mean they don't have to follow government rules about business and don't have to pay tax?????
Please do aswer
Any example of company formed beacuse of capilitilsm...
Max was right now we have 1%
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.
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.
I think I like capitalism than socialism becoz it promote hard work if only there will be agencies that will properly regulate the activities of a capitalist from having an economic instability
Yes because the government companies are so corrupt the economy is basically building themselves a new company and we’re just going with it
Unfortunately working hard doesn't mean more money in capitalism. usually money comes from family power or luck :(
Also capitalism does have agencies, but they promote greed and cause the instability
it's leverage. Being a hard working construction worker doesn't make you rich. Your earnings are restricted by time & no matter how hard you work your returns are the same. Being the owner of the construction company is the one whos rich, the owner has all the leverage. He can employ more workers to get the job done faster, the owner can borrow money to expand his operations even further & make even more money.
Only way a worker can have leverage is through assets (investing to make money work for you) or getting a commission based salary.
We are broken😮
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.
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
3:10
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.
What if private companies cut jobs using ai
That’s just Terminator but without the mass genocide and more McDonald’s
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.
Mixedism❤❤❤❤❤❤
capitalism and inequality. capitalism in its truest form, grants the individual the greatest number of opportunities - simply by way of expanding enterprises. a non-capitalist society has no expanding enterprise(s), because everything/everyone is owned by the state - like serfs. you see the latter in Russia, in particular, and now China, under Xi.
capitalism and monopoly. when monopolies form in a capitalist society, inefficiency tends to creep in, high-bureaucratic-staff costs, (such as those found in federal government, which is public, but same concept applies here - entitlements aplenty) and prices rise - which encourages outside competition to take a slice of the profit margin by entering the market.
capitalism and environmental impact. this is true of a material-wealth driven society. and human-kind's ignorance and selfishness. capitalism might find a way to convert that pollution into meaningful product. an example might be synthetic hydro-carbons, recycled plastics, recycled cardboard...
capitalism and financial crisis. boom & bust. this is a product of government getting greedy with taxation and spending, more than the economy can carry; high interest rates and high government spending occur simultaneously. lower government spending, lower interest rates, lower taxes is the solution.
social safety net. in a capitalist society, which prizes the skill of its labor-force, private enterprise may offer pensions and health insurance...as a means to keep its most talented/skilled laborers. as opposed to public safety net that pay for everyone, and tax only those in the private sector (since the private sector is really where the nation's wealth originates)...raising the costs for everyone, via taxes/inflation.
capitalism and commodification. when healthcare is for profit, the unscrupulous will price-gouge the individual...same can be true where there is a limited talent pool in any private occupation. demand overwhelms supply. reduce barriers to entry for supply. allow for an open grading system - it can be private. but here, i believe the individual should be allowed to sue for price-gouging. we live in a pacifist nation...that's got to change.
I love Capitalism ❤❤
Capitalism is psychological .... very few know that.
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)
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.
So, our tax bill is socialistic but being a shareholder is capitalism. American's should be "shareholders" in our govt. On 4-15 we should be earning profit, having to pay or buying the privilege of being a so-called Capitalism is just wrong to me. There are plenty of ways govt services can be paid for by those it services. If we shareholders build a road it's up to those who aren't shareholders to pay for it, but NOT through taxes but rather user fees. Just my humble opinion and observation. Taxing is something the King used to do as well as socialistic nations do. Share's in the USA should be able to be earned. Serve in the military, get some share's. Participating in our govt either by voting or serving citizens earns some share's and so on....
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.
Capitalism is good on paper but it depends on the leader to much
Since capitalism precludes ANY government interference in economic activities, leadership of the government has very little impact on the economy. So long as the government performs its one and only function - protection of individual rights - they can have NO meaningful impact on economic activities.
Is it really capitalism when some of the biggest and most profitable businesses require tax subsidies and giant tax breaks to make those profits?
No.... that is NOT capitalism.... that is corporatism. The US has not been a capitalist society for at least 100 years.
Income inequality exists everywhere. Kim Jong Un is 1,000,000x richer than the 2nd richest person in NK. The issue with saying youre exploited is, youre agreeing to work there. You can get paid 50 an hour and say youre exploited.
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?
capitalism>>>>communism
it's true because i say so
gresius omg u r so controversial omg
idc bro get a life if u dont stfu im gonna post a video talking about why capitalism>communism
shut up bro get a life kalr marx was right about the current state of the world you are just a bluepilled beta male get a life
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.
so after watching some ideology vids it feels more like it's corruption that's the problem
too much capital comes with its own problems
should i speak to you without capital letters, i dont know what “to much capital” means
@@The_scrongler1978 pedestrian
@@dotsdot5608 what is a pedestrian, is it like those things you push when you ride a bike?
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.
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.
"My object in life is to dethrone God and destroy Capitalism!" -Karl Marx
Greed, Corruption, Monopoly capitalism will eventually lead to total collapse or Totalitarianism
The corruption only negatively affects us when it infiltrates the government as they can use their powers to favor certain businesses. Monopolies are government made. Everyone is "greedy" if you mean wanting to maximize your income. So the first 2 you can't blame on the free market and the other 1, greed exists everywhere.
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)
3:00-4:00 was the most factual & relatable part . All the rest is already availaible on the internet or agenda driven organizations.
Barring the obsession on the environmental part (talking about the economic instability, inequality & exploitative practices aspect).
Capitalism aka the best all around economic system for all!
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.
Italy Communism be like: Capitalism's wet dream of rich wealth
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.
Ignorance abounds.
Capitalism>>>
Excess capitalism should be dismanteled
There is not a single nation on this Earth that is practicing ANY form of capitalism today... let alone "excess" capitalism.... whatever that means.
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.
Marry me dude
I've never heard a valid argument in favor of capitalism.
Proponents of capitalism only every try to implement gaslighting and/or logical fallacies. Really.
To really address modern American capitalism, we legit need to address the #NPD epedemic.
But.. ******under the circumstances*****, im actually a bit a capitalist myself.
But why the fuck can't we have a healthy conversation about those shitty circumstances for real???
If you haven't heard a valid argument in favor of capitalism than you should read some books on economics.
@@bane3991 ..... ..
Right....
The books on economics will somehow justify people working 40-60 hours a week to make a profit for someone else that doesn't work at all....
I'm sure those books will clearly justify the coercion and exploitation that's typically involved in capitalism.
No doubt those books can explain landlording somehow. And how landlords don't indeed play a role of sheer parasite. .........somehow....
And indeed I'm sure a book on economics can explain why a prison should be privately owned, why a hospital should be privately owned.
Why gender ideology should be sold to autistic children ,
Why forced routine circumcision should be a booming aspect of " health care"....
Great argument, bruh.
@@bane3991 "so much depression, anxiety, stress & suicidality is caused by capitalism. we really really need to talk about how not being able to meet our basic needs and how giving away 80% of our days to jobs that drain & exploit us leads to serious mental health issues for a lot of people" - Alexis Isabel
@josephsego1095 I recommended reading books so you can study the subject. That way you don't talk on a subject you know nothing about. It was advice, not an argument I gave you. I been studying economics for many years now. It's my field. I'll give you recommendations if you're actually willing to learn economics.
It's impossible to get you from a beginner level knowledge to advanced in a youtube comment section this quick.
But I'll answer your questions and pick apart your argument piece by piece. Economics is a fairly complex subject. The ideas are fairly easy to understand, there's just a lot of them.
So what is your main argument against capitalism? That it exploits workers? That way I know what to address exactly.
@@bane3991 that it exploits workers, yes. Leaving them with next to nothing to live on, for the 5 minutes that they're off work.
It's also assumptive to make the claim " well but u know nothing about capitalism.....".........
Not only that, the basic concept/reality of having underpaid workers to make a profit for a completely useless role of landlord, or factory owner, or department store owner, etc. is enough for anyone to speak on, regardless of whether or not they've been a single book.
Again , if one drank city tap water, knew good and well that it wasn't a great quality, and wanted better water. It would be ridiculous to attempt to manipulate or deter the person by saying " well read a stack of books on water first". Unless indeed the city tap water wasn't shit.
And what's more, I'm not gonna mirror your argument, but indeed I could: " ever read any Noam Chomsky, Bernie Sanders, Russel Brand , Cornell West... Do that first, then form you an opinion on capitalism"... It's actually not the worst idea.
I rest my case, I really don't that think there's a valid argument in favor of capitalism .
Not unlike rape, capitalism only benefits one side of the coin, and blatantly victimizes the other side. *Usually*
Would u argue that they shouldn't have passed legislation about rape, until everyone opposing rape had books on sexuality???
WWJC (which would Jesus choose )
I'm favoured $130k every 4 weeks! I now have a good house and can afford anything and also support my family
Wow that's huge, how do you make that much monthly?
I'm 37 and have been looking for ways to be successful, please how??
Yeah, since meeting expert Judith Ginsburg, I now agree that with an expert managing your portfolio, the rate of profit high, with less risk.
I will advise you stop trading on your own if you keep losing. And i don't trade on my own anymore, I always required help and assistance
She's a licensed broker here in the states.
After i raised upto 125k trading with her, I bought a new house here in the states also paid for my son's surgery (Kelvin) glory to God.
😡😡😡😡😡😡😡😡😡
There are no cons to capitalism when compared to any other system.
Losers are against capitalism 😂
You make no sense tbh.?
excelent video!!