Comments by "Nicholas Conder" (@nicholasconder4703) on "STICK TO BANKS! (And did the National Socialist state raise living standards or benefit the poor?)" video.

The comment you make in your second paragraph reminds me of one Economic Geography class I took years ago. The prof was talking about one of the earliest theories of economics, which was explaining the distribution of crops around urban centres. He then started with his fundamental statements, of which the first was that "people think logically". Some wiseacre in the back of the class piped up, "Well, you can throw that theory out the window.", to which we all laughed. But you are right, economics is a combination of finances and psychology, with other perturbating forces we have no control over tossed in for good measure (weather, rate of replenishment, etc.). Regarding minimum wage, again you are more or less correct. The issue is the FEAR that raising the workers wages will result in major issues, and ignores the fact that such increases can be spread over the entire suite of products sold. It also ignores the very real benefits of having a healthier, happier, better fed workforce increasing productivity and/or quality of the product. It is also humane. Like many theorists, I think economists forget that their numbers represent real people leading their lives. I also think many liberal or anarcho-capitalists forget that the theory they support or propose will eventually end up leading to the very conditions that created Socialism and Marxism(Communism) in the first place, i.e. the early Industrial Revolution's working conditions, or worse.
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@melgross One thing that Marx and Engels never understood was the dark side of humanity. You can almost see them envisioning fluffy pink clouds with flying unicorns after the workers revolution. Which ignores the most basic problem - the people who would drive a violent revolution would not be nice philosophical idealists, but ruthless despots. Years ago there was a real estate commercial that talked about the cream always rising to the top. Well, from what I recall from metallurgy and other chemistry, so does the scum. The other issue with economics and money is that many individuals forget that the price of a good is set by what people are willing to pay for it. If you cannot get a buyer, it is essentially worthless. Again, there was a program that had Donald Trump talking about the net worth of the US and how there was a lot of leeway because of the net wealth of all the mineral resources and infrastructure. One thing that was quoted was the Hoover (Boulder) Dam. I remember thinking after they said what the dam was worth that "That's only if someone wants to buy it. If you wanted to sell, but could not find a buyer until you dropped the price to $1, then Hoover Dam would be worth $1". This, and the fact that the current value of any currency is based on people's confidence in that currency, are the two dirty secrets of modern economics.
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@aleksazunjic9672 But this ignores the fact that the reason that they needed coupons was because they were directing most of their economy to manufacturing weapons and preparing for war, plus trying to shut down international trade and be totally self-sufficient. Although a totally capitalistic society is not a good thing either (given no regulations or controls, you will end up with a semi-feudal society), National Socialism was not a better system.
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