Comments by "Wandering Existence" (@WanderingExistence) on "Economics Explained" channel.

  1. It's wrong because capitalism ideologically biases Capital over families and communities. Child rearing is a very important task within society and it is punished by capitalist economics by decreasing the value that women are paid and not covering the massive benefits of healthy and proper child care. The gender pay Gap is literally due to the fact that women have to take time off work to do their biological thing and create another human being which economists really need to create a growing economy but they don't seem to give any economic stimulus towards... 🤔🤔 They talked about how money is a incentive and then they talk about how they need more people to create a growing economy but they don't want to incentivize creating more people by creating healthy spaces for child rearing. But you know, why would that logic sense?
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  2. This is a problem with neoliberal thinking that maximizing profit and GDP is necessarily good. They will destroy democratic institutions so large shareholders can make more money.
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  3. Or you just don't call it "corruption" and label it "lobbying"... Now there's much less corruption, problem solved.
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  4. "I already am eating from the trash can all the time. The name of this trash can is ideology. The material force of ideology makes me not see what I am effectively eating.“ — Slavoj Žižek
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  5. The 8th largest economy that can't handle a small snow strom... Then the representatives run off to Cancún.
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  6. *Bigger Fund your reading programs better.
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  7. Yes, land taxes and negative externality taxes! Let's make taxes directly change society for the better.
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  8. Yes! Tax the land! Georgism makes sense economically and ethically.
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  9. Capitalism creates a gender wage gap by not valuing domestic work because it does not hit a market nexus. Domestic work is fundamental to all other types of work. Women still do most of the domestic work in households and it is fundamental to a thriving society that we acknowledge that this work is important to the ability to go out and work a job and come home to a functioning household. We must find a new system of economy that does not automatically value cash over work. We need a Cooperative economy.
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  10. Barely scratches the surface and then leaves you with an answer full of nothing....
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  11. Capitalism is about the growth of capital at all costs. The prioritization of material Capital above human needs tears communities apart. E: to people saying "actually no"... Remember that the largest corporation, Apple, uses Chinese reeducation through labor camps for cheap workers.
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  12. “Call it democracy, or call it democratic socialism, but there must be a better distribution of wealth within this country for all God’s children.” – MLK, Speech to the Negro American Labor Council, 1961. “We must recognize that we can’t solve our problem now until there is a radical redistribution of economic and political power… this means a revolution of values and other things. We must see now that the evils of racism, economic exploitation and militarism are all tied together… you can’t really get rid of one without getting rid of the others… the whole structure of American life must be changed. America is a hypocritical nation and [we] must put [our] own house in order.” - MLK, Report to SCLC Staff, May 1967. “The evils of capitalism are as real as the evils of militarism and evils of racism.” – MLK, Speech to SCLC Board, March 30, 1967.
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  13. I'm hungover and very gay, there's an important economic significance for our group.
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  14. While I largely agree, I immediately want to play devil's advocate; what about corruption of a bad government to facilitate humanitarian efforts? Is paying off an SS guard not to out the family living in the attic wrong because it corrupts military order??
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  15. You can't reasonably say "it's the only system that has positively impacted society." Massive innovations occurred in other systems and capitalism has also had massive negative social and environmental consequences. You can't just say it's the only one that is positively impacted society and then forget that it's admitting massive amounts of pollution that make people sick. Norfolk Southern literally did a $10 BILLION stock buyback program instead of improving their rail safety and properly staffing their over worked employees...10 months later we all saw the toxic smoke cloud of Ohio. That's capitalism maximizing shareholders wealth over the health and well being of their workers and community.
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  16. Government spending only works until consumer capacity is fulfilled, and no more, then it becomes inflationary.
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  17. ​ @chico9805  Women should be free to enter the workforce but it is unfair that capitalism has demanded that two people must work to sustain a household. Stocks soar and wages barely keep up with inflation, capitalism's Capital Bias puts profit above workers, households, and communities.
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  18. @t.n.h.ptheneohumanpatterna8334  Please don't laugh, we statistically drink 3 times as much and use 7x the rubbers as the largest road tire manufacturer.
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  19. We're number one... In military spending, billionaires, and incarcerated population :/ 🇺🇲🇺🇲🇺🇲🇺🇲🇺🇲🇺🇲
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  20. Oh, I was looking for a face sitter... Hope that wasn't too on the nose for you, but I like the cut of your jib, if you know what I mean.
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  21. Um, humans aren't rational actors... We have behavioral economics now. Welcome to the 21st century, economics has come a long way in the past 247 years. Speaking of long ago History, you should also read Debt: The First 5000 Years by David Graeber so you can see that capitalism anthropologically developed with governments.
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  22. This isn't an idea that is exclusive to Sowell. Sowell may be correct in this regard, but his economics is truly lacking.
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  23. You act as if regulation can't aid the price mechanism. What do you think a carbon tax is? It's accounting for the social marginal cost and applying those to the private marginal cost to affect the demand curve. Not instituting such a regulation, you are in fact allowing the exploitation of people to have costs shifted upon them unvoluntarily. Amazes me how free market people want to say they "understand economics" yet they don't even understand the concept of a negative externality.
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  24. Wrong
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  25. Based. It's basically two sides of the same coin. Especially since economies rely on property norms that are enforced via the political.
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  26. Cooperatives are run by and for members, and so they take care of their members better. Worker cooperatives also share profits so money is distributed more equally throughout society instead of having to be so heavily redistributed through government welfare and programs. Worker cooperatives don't want to sit around and wait for governments to raise the minimum wage they want to raise their own wages, and they often put a pay ratio cap in place. Consumer co-ops, like credit unions or electricity coops, have also been important for serving communities. 42 million Americans living in the Western states get their electricity from power co-ops, because corporations don't find hanging line across the west as profitable. But people still need power; co-ops are built for members needs, not corporate profit. By utilizing more cooperative economics there can be better incentives to put people before profits. Capitalism's adherence to shareholder primacy is one of the systematic reasons for its rise (as it created capital growth) and it will also be its downfall (because it puts capital growth before life itself).
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  27. Wow this comment was painfully ignorant. You think private property rights isnt a system? They are considered legal rights within a legal system 🤦🏼🤦🏼 There's obviously also a system of morality that determines that 'might doesn't necessarily make right'. A basic look at human history will show many examples of collective control. From communal farming to cooperatives to the family structure 🤦🏼
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  28.  @unktzor  How does that limit on an individual shareholder wealth translate to limiting endless consumption that is pushed by the corporations? One of the big problems here is limiting the negative value that comes out of capitalism, how do we curtail consumerism that increasingly contributes to the pile of negative value building up?
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  29.  @algardaus  And feudalism helped decrease tribal riffs... Doesn't mean it's the best system.
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  30. Except consumerism would still run rampant and it would continue to cause pollution.
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  31. That's the thing about dialectic materialism.... You don't turn back. You can continue moving forward into a new synthesis.
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  32.  @theadorebagwell7187  The capitalist economy is based on growth... If you don't want breeders dont have capitalism, duh
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  33. It's because doing so necessarily decreases the demand curve due to the increased internalization of costs. Doing so decreases the demand for products and corporations lose profits, as such they have an incentive to create as much propaganda to prevent people from accepting the idea. Somehow even individualist Republicans who love "responsibility" have them propagandized to hate the idea of responsibly paying for the trash that they push on to their neighbors.
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  34. The economist is Arthur Pigou also believed in subsidizing positive externalities
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  35. This comment got me thinking. I think both can be true; fulfillment has a level of persistent satisfaction, but a lot of the things capitalism sells us are fleeting feelings of satisfaction. On a psychological level, capitalism offers unlimited shallow vapid ways to fill the isolation we feel from capitalist alienation and isolation- but none of them address the core issue and thus if we believe those are are only options for happiness it will be an endless string of wants.
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  36. Lol, wait.... Crony Capitalism is not capitalism? Capitalism isn't capitalism, you guys! 😂🤣😂🤣 Just because it's corrupt doesn't mean it's not capitalism anymore. Just because a car got into a fender bender doesn't mean it's not a car anymore 🤦🏼 Bahahahaha. You'll label all of socialism "cronyist" but any crony capitalism is not even a type of capitalism- dude, that's such an obvious double standard. Liberals like you are comical
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  37. ✊✊🏿 Solidarity
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  38.  @marksuave25  Universal Basic Income is a policy that many studies are looking into and they have found that it is a good policy for decreasing homelessness and increasing food security. This allows homemakers to have money to provide goods for the home.
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  39.  @oliviastratton2169  Because the capital bias of capitalism prevents enough co-ops forming. Banks don't lend to co-op as much and so they struggle with proper financing even though they're better for the community. Capitalism gives all the power to finance and alienate the people that do the work. I also speak as a small shareholder, I understand finance and it's a very top heavy institution.
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  40.  @DarkArcticTV  The efficient market hypothesis was based on assumptions that have been disproven by studies in behavioral economics. People are not rational actors and quite often choose suboptimal choices, Rational Choice Theory is a made up over simplification. Daniel Kahneman's "Thinking Fast and Slow" describes many of these mental biases. Behavioral economics is a way of applying our knowledge of neuropsychology and evolutionary biology to how humans make choices. Science and economics have come a long way in the 248 years since Of Wealth of Nations, it would be shortsighted to neglect our new knowledge.
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  41.  @arspsychologia4401  I sorta see your point, but on LVT specifically, it can be taxed near 100%. Due to the fact that there is no dead weight loss on production, because nobody made natural resources, so taxing people doesn't stop their creation. LVT is also one of the few taxes that can't be shifted, being fully born by the landowner. LVT can decrease housing costs by encouraging the development of higher density housing and development of idle land to better meet housing demands.
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  42.  @adamperdue3178  Land has an inelastic supply curve and a land tax doesn't tax improvement value. The community would own the land, because land values are largely derivative of natural resources/ beauty and improvements made by the wider community.
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  43. And yet patients demand that something be done.... Even just to soothe the anxiety of hopelessness
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  44.  @peterblair6489  capitalism is predicated on massive amounts of consumerism, which is inherently antithetical to ecological conservation. What about human being disenfranchised from decision making because they don't own corporate shares?
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  45. Could it be, nobody is working on that because that's not profitable?
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  46. Lol 😂 That's still capitalism. A mixed economy is literally just capitalism with government intervention.
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  47.  @Snowaxe3D  How is it better than capitalism when it is exactly capitalism 🤦🏼 Mixed market still suffer from worker exploitation and massive productions of negative value (negative externalities), because it is still the exact same underlying system; capitalism.
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  48. Great- they leave still radiated uranium all over 👍
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  49. How are you going to solve negative externalities with markets that literally externalize the problem 🤦🏼🤦🏼🤦🏼 Sounds like you're making a statement out of ideological protest rather than offering a thoughtful conjecture.
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  50. Probably because nobody has the full answer. I believe I have some realistic answers to some of the questions, but even I don't have all the answers. And honestly on a literary point, sometimes it's more productive to ask an open-ended question than to give a reply (that's usually half baked- even from the most lofty of economists).
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  51. Lol, says the person who probably doesn't know the definition of socialism nor how to spell Keynesian 👍
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  52. You might be interested in the Cleveland model/ Preston model of cooperative economics.
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  53.  @1MinuteFlipDoc  Behavioral Economics is based on testing and collecting evidence in anthropology, psychology, and evolutionary biology. Behavioral Economics makes way more sense than Sowellian neoliberal economics because it isn't based on the massively false notion that humans are rational actors.
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  54. Automation would be really cool if people could use it to increase their freedom instead of decrease their wages.
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  55. This is true, and different ways of organizing resource distribution benefit certain people disproportionately. I would argue that just like in politics, we want an economy that appeals to a Rawlian Veil Of Ignorance.
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  56. How is the free market supposed to take into account negative value? Why are you okay with involuntarily shifting costs onto innocent bystanders?
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  57. Shhh! You'll scare the Republicans away from questioning capitalism, lol
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  58. Have you read Debt: The First 5000 Years by David Graeber? If not, it's a good book, he's an anthropologist.
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  59. Slavery and empire are also things that happen when people act with each other.... Saying capitalism is just the natural way of things is very childish.
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  60. The employer-employee relationship is an actually 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 least capitalism needs safety nets (or abolishment), or else the system won't value sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class.
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  61. Socialist and unions gave you the 40-hour work week, workers compensation, better pay, better working conditions, and better benefits.... Not to mention your weekend 🤦🏼
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  62.  @latifoljic  I agree with the points you make. Personally, I lean towards behavioral economic critiques of neoliberalist modeling based on mere deduction without testing the validity of the logic supplied to the model. Although I'm curious what part of EE's 'science' they got so wrong?
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  63.  @latifoljic  Ah, okay. I agree.
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  64. You're completely correct their money doesn't sit idle. It's actively used to exploit the working class 👍 Employment is literally renting another human being by the hour.
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  65. It's just a public relations forum to fool people into legitimizing ever more exponentially increasing inequality and ecological disaster.
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  66.  @ricardokowalski1579  capitalist love unfree markets... That's one of the contradictions of capitalism. A system that's supposed to be innovative and dynamic will grind to a halt in the pursuit of profit because profit from the status quo can be a conflicting interest to innovation. Therefore capitalists will often bribe politicians in order to keep the status quo. Side note: Your free market does a terrible job of incorporating negative value
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  67. Bbbbbut John Locke and "natural law"
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  68. There's a limit to the amount of resources on the planet, education allows us to rearrange these resources in more efficient manners as well as the ability to go out and gather more resources than are on our planet. Education is definitely one of the best investments we can make.
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  69. If you think socialism is about a centralized elite you don't understand socialism. That's like talking about capitalism like all capitalism is literally Pinochet era Chile.
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  70.  @Eletruun  so it's not the moral thing to do but capitalism will incentivize it anyways because it's the economic thing to do. Remember the economic thing to do is what is incentivized; it's profit that is the incentive, so the economic thing to do is to create more profit. We put the profit of shareholders before the well-being of our children- that's what that means.
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  71. And yet your business molests and exploits other people around it. Learn when a negative externality is... But of course you're too ignorant to understand that your business isn't confined to your transaction 🤡
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  72. Other than natural gas do you guys have a low amount of imports?
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  73. So basically "Capitalism is the best because it relies on making greed the priority"... Can't imagine anything going wrong with that. Norfolk Southern giving themselves 10 billion of stock buybacks instead of caring about the health and safety of their workers and community... 👍
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  74. You might also be interested in the channel the Laura Flanders show, she has a lot of interviews with people who are helping to cultivate the economies that you were talking about. Her motto is "where the people who say it can't be done take a back seat to the ones who are actually doing it" ✌️
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  75. Or we could go French Revolution style.....
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  76. 🤮🤮🤮
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  77.  @thebestevertherewas  How's Flint Michigan holding up? We have the most billionaires... And yet also some of the largest inequality.
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  78.  @thebestevertherewas  The top five countries for economic mobility are Denmark, Norway, Finland, Sweden, and Iceland..... None of which are America and all five of which are social democracies 🤦🏼 Do not understand that higher inequality means lower socioeconomic mobility? Work hard? There are millions of people in this country that work hard and still get relatively low wages. Working hard is not how you make it in America, owning property is how you make it in America. I understand, I have a stock portfolio... That doesn't justify the horrors of capitalism. To be honest it doesn't seem like you understand how capitalism works. You don't work hard to make lots of money, you let your money work hard for you and let your money make money. It's called passive income capital gains or dividends. C'mon, if you're going to tell me how capitalism works, why don't you actually get to the fundamentals of how it works instead of just giving me "work hard" platitudes.
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  79. Cowabunga, my Lord! Serfs up!
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  80. Capitalism is inherently flawed I think the circular economy has a place in the future but it's definitely not with capitalism
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  81. 🤮🤮🤮 Fascism is horrible
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  82. That's because at its base capitalism and communism are ethical systems that deal with human values, not just monetary ones.
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  83. No.... So this is the best system we'll come up with? This is it, huh? Pretty lame, imho
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  84. So you don't think we would have come up with a better way of taking care of George Washington? Just like we totally can't come up with a better economic system... Lol
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  85. Lol.... Please tell me you're joking, or else we are all fked
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  86. Taxes and regulation is not really what socialism means, at least not to anybody that's not Fox News. Socialism as outlined by people like Charles Fourier and Karl Marx is basically collective ownership of the means of production and the abolishment of private property. Capitalism can have mixed market economies which are a mix of control by government regulation and by market forces, but it's a common misnomer that a mixed economy means a mix of capitalism and socialism. This is because socialism is defined as the abolishment of private property and thus capitalism, so that things can be collectively/socially owned.
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  87. European capitalism is not a mixture of capitalism and socialism 🤦🏼 It's literally just capitalism. Socialism is literally the abolishment of private property. Your no true Scotsman on purity tests is also pretty funny.
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  88.  @ArabianKnight63  No it is seriously cringe. It's the Holy Grail of enlightened centrism "We don't need actual change, we just need a few tweaks" 🤦🏼🤦🏼 This view is ultimately destructive in its delusion of just society being a small change away... We need massive changes to not steep ourselves in environmental and social catastrophe. But no you're okay with just saying We need a few more welfare programs and some market regulations 🤡 It's cringe.
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  89. 🤦🏼 You could say the same exact thing about capitalism.... Look at the huge amount of inequality due to corporate lobbying. Socialism and capitalism are economic systems but they exist within a political, and more broadly a cultural 'container'. You fundamentally wouldn't have ubiquitous property rights without government enforcement- The United States politically seized massive amounts of land, after genociding the population, and then handed it out to jump start capitalism in the West. Don't act like capitalism don't have a political backbone as well 🤦🏼
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  90. Wafers are for the chips, Zeiss makes the mirrors that lithograph the chips. They need to be very precise and it would not surprise me if they did in fact layer an atom at a time.
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  91. What makes you believe in the labor theory of value?
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  92. What are you talking about?
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  93. GDP is constantly rising too.... 🤦🏼 Not to mention over 40% of UST bills are held by American citizens
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  94. Did you just say Zeiss doesn't produce any silicon products... When their mirrors for ASMLs lithography machines are literally made of silicon, lol. Pretty much the only thing he got wrong was calling the lithography machines "fabs"
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  95.  @rackback4666  Lol, yea... Zeiss produces mirrors, like the video says. You didn't correct anything. Did you think he said wafers? !!!! Why all the exclamation points? !!!
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  96.  @rackback4666  lol, @9:03 "You might think you know where I'm going with this.... but you would be wrong." He was obviously making a comment on the two different ways silicon is used in the process, except he took us down the lesser known route because it goes further down the supply chain, and thus exemplifies the global interconnectedness of the semiconductor industry. I have to laugh or else explaining this all out would be more arduous than fun.
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  97. You could have just said what it was...
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  98. As a man I find it really hilarious that men say it's so easy to do household work and then when they're assigned to do household work it's taken on with such effort. I'm taking care of a dog that's sick... Even that's a lot of attentiveness.
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  99. That's what I thought I was surprised to hear the contrary
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  100. Thanks for providing the name
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  101. Soooo... Not capitalism
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  102.  @unktzor  So just 100% taxation at a certain level? What level would that be?
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  103. Look up behavioral economics
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  104.  @josephk87171  I think you're neglecting the fact that there's a huge Capital Bias that makes the cooperative efforts of family rearing pushed to the side. Capitalism will destroy families so it can make more profit.
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  105.  @chalkyapples9791  you think domestic work means being in a relationship. Wow, you really don't understand living in a house do you live with your mother?
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  106.  @chico9805  What the heck does that even mean?
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  107. ​ @marksuave25  how can you be a homemaker without a home how can you provide food in a home if you don't have money for food that is why Ubi is important... Being a homemaker is not free. Takes a lot of work and there are a lot of expenses that is why society should understand that it takes effort to run a household and it should be compensated.
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  108. ​@liversuccess1420 Is that going to make up for the alienation of mothers and fathers from their children? Just being raised by a nanny doesn't really cut it if you really want to make a connection with your parents but hey who am I to tell you about what love is about, lol.
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  109. ​ @Deltanam  it doesn't just benefit you it benefits society by creating stable households and stable communities, which has spilled over value throughout society. You really should learn some economics.
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  110. ​ @zoraster3749  so you see nothing wrong with stocks soaring while wages struggle... That's not a problem to you?
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  111.  @chico9805  Lol, and you don't see how capitalism has caused that?
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  112.  @marksuave25  I was raised by a single mother because my father was abusive... are you saying that I should have been raised with my abusive father?
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  113.  @chico9805  Oh, I'm down with anti-capitalism. Cooperatives are run by and for members, and so they take care of their members better. Worker cooperatives also share profits so money is distributed more equally throughout society instead of having to be so heavily redistributed through government welfare and programs. Worker cooperatives don't want to sit around and wait for governments to raise the minimum wage they want to raise their own wages, and they often put a pay ratio cap in place. Consumer co-ops, like credit unions or electricity coops, have also been important for serving communities. 42 million Americans living in the Western states get their electricity from power co-ops, because corporations don't find hanging line across the west as profitable. But people still need power; co-ops are built for members needs, not corporate profit. By utilizing more cooperative economics there can be better incentives to put people before profits. Capitalism's adherence to shareholder primacy is one of the systematic reasons for its rise (as it created capital growth) and it will also be its downfall (because it puts capital growth before life itself).
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  114. ​ @zoraster3749  Capitalism will always be cronyistic because capitalism biases capital above everything else even if that means getting legal protection.
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  115.  @oliviastratton2169  The US is super corrupt... But corporations have legalized bribery by calling it "lobbying". Lobbying has the highest ROI on all investments. Easy profit means that businesses will do it... That's why we have corporations that give billions of dollars to political campaigns. This has literally been scientifically studied in the 2014 Princeton paper 'Testing Theories of American Politics' by Page and Gilens, you can find the PDF. It basically shows that 70% laws passed are favored by "elites" and only 30% of laws are favored by common people. That's corrupt when corporations make most of the laws.
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  116.  @leggeman2132  I'm sorry, does the currently largest corporation, Apple, not use Chinese slave labor? Not to mention the past 300 years of capitalist colonialism for cheap land and labor.
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  117.  @Nonplussed  Meanwhile the top ten richest people own $1.5T in wealth. Capitalist inequality is not out of date, it's very current.
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  118.  @leggeman2132  Does Apple not use slave labor?
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  119. ​​ @leggeman2132  Norfolk Southern did a $10 BILLION stock buyback program instead of improving their rail safety and properly staffing their over worked employees...10 months later we all saw the toxic smoke cloud over Ohio. That's capitalism maximizing shareholder Capital over the health and well being of their workers and community.
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  120.  @leggeman2132  Norfolk Southern did a 10 BILLION dollar stock buyback program instead of improving their rail safety and properly staffing their over worked employees...10 months later we all saw the smoke cloud over Ohio. That's capitalism maximizing shareholders wealth over the health and well being of their workers and community.
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  121.  @arspsychologia4401  That's the thing, is that everyone in the community owns the land and the community collects land rents through the LVT or a community land trust. No one worked to make natural resources, so why should one individual be able to exclude others... And in fact, the land values are largely based on the location of amenities in the community. As in a family house sells for more when there are schools, parks, and stores nearby. When a landlord charges rent, that added value has nothing to do with the house or what the landlord put into the property but rather just privately capturing the value others created. Land developers often hold ground vacant for decades as a city builds up around their property, then they sell it vastly more as other people have increased land values by adding value to the community. People would still own their homes and buildings, it's just that all land rents would go to the community. A landlord is free to rent out a house and earn money off of the building, but the ground rents should be taxed.
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  122.  @adamperdue3178  Funny, you don't hear argument when landlords are charging 100% of land rents... It literally just changes who gets the land rent not how much is being charged.
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  123. The employer-employee relationship is an actually 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 least capitalism needs safety nets (or abolishment), or else the system won't value sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class.
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  124. Oh, my Lord! You're divinely right!
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  125. If there's no state who enforces the rules?
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  126. ESG is kind of silly... Gay Tim Cook can have a green charity and the product red charity be called ESG and still have foxconn worker rights violations along with some components being manufactured by the use of Uyghur slaves. ESG is another PR fraud to save the legitimacy of capitalism
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  127. How does this free market system incorporate negative externalities??
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  128.  @AdamA-pm3yn  there are many types of socialism too.... And most of them don't mean "muh guberment". Socialism is an economic system, not a political system.
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  129. You love incorporations do stock buybacks and then treat their workers terribly. Capitalism 😎👍
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  130. Not if you want your grandchildren to survive
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  131. Their views on CFCs seem to have helped. And I'm not really sure why you want to breathe in more carcinogenic chemicals even if you don't believe in CO2 greenhouse climate change.... which has been known about since the 1800s
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  132.  @ashthegreat1  Do you make a point of breathing in tailpipe exhaust? Is that how you became so intellectually well-endowed? 🤡🤡
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  133.  @ashthegreat1  Denver has a smog cloud around it..... 🤦🏼 You can literally see how unclean the air is.
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  134. Okay, so?
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  135.  @deezynar  Lol, not really.
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  136.    Arthur Pigou tried to tell people about taxing negative externalities, and even subsidizing positive externalities. But real world capital owners bribe governments so they don't start taxing negative externalities, like carbon. Capitalism is a system that necessarily disenfranchises most of the population and therefore decisions are made in the interest of capital owners and not people of the planet... Where the agreeing to agree breaks down, because the decision making isn't structured in a way that values the opinion of 80% of the population. The employer-employee relationship is an actually 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 least capitalism needs safety nets (or abolishment), or else the system won't value sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class.
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  137.    people with capital... You mean Capitalists? Capitalists are working against your platonic notion of capitalism.... Yeah, man. Marx told you that capitalism had contradictions. But instead of understanding that capitalism, at times, actively works against itself- you're just going to fallaciously scream "no true capitalism". So you see wrong with renting another human being as a piece of chattel property and to only value them as a means to make profit? 🤔
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  138. Zeiss makes the 1 silicon atom thick mirrors for ASMLs EUV machines. I don't believe they make wafer ingots for chips.
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  139. -isms define the way people structure themselves over the millennia. The mistake is for people to become attached to these -isms, as they rise and fall with evolution of social consciousness. It's not an actual point, but you do know that they had papyrus over a thousand years ago, Alan Turing used the computer in World War II (technically the Babbage machine was the first computer), and the iPhone came out 16 years ago.
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  140. Lol, that's just bad logic. We haven't thought of a better solution yet, so just must not be out there- how horribly unimaginative -_-
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  141. Economics is still applicable in socialism. Just because you have socialism doesn't mean you can violate marginal utility or comparative advantage, it just means you're not constantly incentivized by market forces to utilize them to maximize profit. Other goals besides profit can be considered, but economic rules will still apply.
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  142. Capitalism has helped us advance, but it could also be holding us back.
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  143.  @inatus_s  It leaves that open
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  144.  @H8nji  If by that you mean multiple factors can culminate into an aggregated end result then, yes. It's like adding/ subtracting vectors in math.
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  145. Lol, wat?
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  146.  @eyeofthepyramid2596  considering socialism is the abolishment of private property that makes no sense. Besides you said absolutely nothing about what kind of qualities such an economy would have.
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  147.  @eyeofthepyramid2596  lol wat?
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  148. Lol, what a weird view of things... You really lost me at the part where you said agrarianism doesn't really work considering that human history was mainly agrarian.
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  149.  @liberalhere3731  lol, I fully understand that It's just you said that "agrarianism has NEVER fully worked" But yes I agree agrarianism is not sustainable for, or even wanted by, the modern population.
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  150. Lol, got to love people who think that we've been through many different types of economic systems as humans but we finally found the perfect one there is no more innovation in culture to provide a better system 🤣😂
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  151. The problems at stake need far more radical solutions. Regulated capitalism still disenfranchises most of the population and promotes rampant consumerism, which will inevitably destroy the habitability of the planet in pursuit of profit.
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  152. I think economists have a spot in policy making, but neoliberalism really puts a biased lens on most economic thought. Behavioral economics, socialist economics, and Buddhist economics I'll have different but legitimate additions to make that don't deny people there humanity
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  153. While I agree I'm curious what your contentions are with it
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  154. Capitalism has ever increasing demand because it promotes hyper consumerism for profit.... So you're saying capitalism is inherently a Ponzi scheme?
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  155. Adam Smith was a liberal...
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  156.  @dungeondeezdragons  You just say random things without expanding on them. You say free markets and slavery are the only things that have worked but feudalism existed for a thousand years.... And honestly I don't even think free markets really exist, considering even the Wild West was a form of government intervention. But of course free market capitalists are the kings of just saying random things without substantiating them.
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  157. There is a main topic... Problems with Capitalism
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  158.  @mayavi93  fair point
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  159. I mean pro-socialism but Are we just going to ignore the famine and political purging that results in tons of human suffering? Russia, China, Vietnam, Cambodia, etc.... All of those were pretty violent and went through periods of made man starvation. Russia made big economic gains but at large human costs. Not to mention these experiments failed and now push capitalism pretty freaking hard.
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  160. How did you learn this? Did this fact fall out of a helicopter and into your lap?
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  161.  @JayVoracious  No, you Google it.... Or be thrown out of the privatized helicopter.
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  162. Lol. Maybe for the better, I like how this video raises skepticism about the absolute beneficiality of capitalism without bringing up too many buzzwords that scare conservatives off.
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  163. To be fair it used to be called political-economy, because economics is inherently entwined with politics (fundamentally with property rights enforced by the state and secondarily with regulations put on those property 'rights'). Anthropologically speaking, 'raiding' or 'war for resources', as some of mankind's first economic activity, also blurs the lines more. But yes, there's certainly a deviation between the two.
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  164. Lol 😂
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  165. You're objectively stupid. America is a bastion of Western capitalism
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  166.  @billedifier8584  Tbh, I don't think you know what 'corporatism' is, that word is so misused it's basically cliche. I'm going to guess you're talking about 'corpocracy' (basically corrupt capitalism) rather than the mutual cooperation of various groups, like the state, labor unions, business, the church, NGO'S, etc, in society create a corporal interconnectedness as outlined by the Catholic Church as the concept of 'corporatism'. Oh, and btw: corrupt, 'corporatic' crony capitalism is still capitalism.
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  167. Lol, so true. It's because so much authority and so much power over others rests upon the belief that these systems cannot be overturned without things becoming worse
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  168. The employer-employee relationship is an actually 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 least capitalism needs safety nets (or abolishment), or else the system won't value sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class.
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  169. Lol, do you even know what a trust fund kid is.... A capitalist who sits around and does nothing. What a joke
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  170. Come on, nobody wants three acres and a cow anymore.
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  171. I love how you gloss over the part that keynesianism became necessary because free market capitalism also failed. When you look at it objectively capitalism- just like feudalism before it- has had many successes and many failures.
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  172. The material means of production..... It's not that complicated.
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  173. You think it's going to last forever? Lol
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  174. Better than Friedman... Bruh
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  175. The invisible hand does allocate resources 🤦🏼
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  176. I think you mean corpocracy, where businesses control the government for profit- as with modern day corporate lobbying. Corporatism, on the other hand, is a more complex philosophy of class collaboration, often bringing together different parts of the body politic (corporal means body) together, like workers, bosses, the church, the government, and other institutions. Greedy capitalists and politicians use corpocracy, but fascists and Catholics espouse corporatism.
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  177. Philosophy isn't a science- science deals with knowledge, philosophy deals with wisdom
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  178. More precisely it's privatized risk versus reward there is no internalization of social costs. If you look up the work of Arthur Pigou you can see how incorporating social costs into the price paid by private individuals decreases the production of pollution and other negative externalities.
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  179.  @kushcapone  The employer-employee relationship is an actually 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 least capitalism needs safety nets (or abolishment), or else the system won't value sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class.
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  180.  @kushcapone  So you agree that employment is a rental contract for a human being.... But you don't see anything wrong with treating people like property to be rented?
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  181.  @kushcapone  Why do you think having to rent yourself out is morally okay? 🤦🏼 Anybody who's actually concerned about freedom would know that being able to control your own work and not be rented by another person as a piece of property would be better. Having to constantly rent yourself out because you're so poor you can't control your own life is literally called 'wage slavery'..... But apparently you see nothing wrong with having to rent yourself out constantly to the point that it's basically like not owning yourself. I don't know how you think that's fair pay. I don't know how you think it's fair pay that wages are barely above what they were in the '70s but prices for goods have risen exponentially. THAT'S NOT FAIR PAY 🤦🏼 If minimum wage kept up with inflation it'd be $17 an hour not $7.25 smdh. This is just a bunch of sad capitalist apologetics.
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  182. Copium of the masses
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  183. Or we could just ditch capitalism that promotes rampant consumerism and thus the destruction of the planet.... Not to mention the plutocratic hoarding of wealth and power.
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  184. Arthur Pigou did nothing wrong!
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  185. On the contrary, The sheer notion of competitive advantage is what sets capitalist productivity apart from mercantilism
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  186. It's basically like capitalism, everybody follows the prophet
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  187.  @ricardokowalski1579  lol, capitalists, silly.
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  188. Lol
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  189. Yeah- free markets don't exist irl, lol. When was the most free market time in history?
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  190. Inflation. Govt spending creates inflation if there isn't enough consumption capacity.
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  191. I'd really like to pick your brain on how you think capitalism was developed... 160 acre land grants from the US Homestead Act of 1862 was not peacefully claimed. It was a massively violent government redistribution plan. Hilarious how you guys just forget that stuff...
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  192. Yes it does, ARC GPUs
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  193. "a Capitalism" lol
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  194. So your solution is to privatize everything including the air.... That sounds dystopian AF
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  195.  @herp_derpingson  Unfortunately, it will be evaded because capitalism wants profit, not a healthy planet. Carbon/ methane/ etc taxes would have more viability in democratic socialism.
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  196. Yes, but corporate lobbyists don't like Arthur Cecil Pigou :( This makes Arthur Pigou, and I, very sad.
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  197. Are you forgetting about the single mothers that have to enter the workforce? Or how about the fact that rents and interest rates have skyrocketed so much, and the wages of the main provider have not increased enough, so both the mother and father have to go to work? Capitalism puts shareholder profits above allowing people to afford living on a single income.
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  198. Capitalism works for the owners of capital
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  199. What's the solution?
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  200.  @ICDeadPeeps  It's about PRIVATE PROPERTY not personal ownership. Private property creates wage labor, and wage labor is renting yourself via "self ownership". Employment is literally renting another human being as if they're property. The insidious dynamic of employment is that it's 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 enough capital goods to make enough income 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.
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  201.  @perimarc6008  What's with the parentheses?
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  202.  @sergiobastos4274  Child rearing IS WORK. What is so confusing about that? You push out a baby out your genitals... Yeah, not so easy, huh?
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  203.  @crissd8283  You think the best system is capitalism... The system that would literally poison your family so shareholders can gain a little more Earning per Share. You basically support Norfolk Southern shareholders getting $10Billion in stock buybacks and a 9% dividend raise before fixing their rail lines and improving safety. No system will be prefect- no one said it would be- BUT worker co-ops have more autonomy and flexibility for workers, so you would have more time to spend with your kids. But hey, why would you investigate a new system that would help you live out your values better when you could just support the same crappy system that puts corporate lobbyists and shareholders above you and your family... the irony is sad.
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  204.  @DellikkilleD  It literally is a social and economic issue. You realize health insurance for old people is also subsidized by young people who have to pay for health insurance and don't get sick as much 🤦🏼
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  205.  @talongreenlee7704  It's not about "instance gratification" if people literally can't afford to bring up a new child. Jfc, people can't afford rent and healthcare... Are they just supposed to cut rent and live on the streets? Great way to raise a child... NOT!
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  206.  @nelyyisoppy6509  Nice strawmen. "Oh denmark" "oh communism", good grief. Isn't it ironic that you support capitalism, the system that literally gen0cided the native population so more private property could just be handed out for free to new settlers. The system that supports coups to set up cheap plantations and oil wells. A system that has become literal plutocracy by making corporate-political bribery legal by calling it "lobbying". Don't act as if capitalism doesn't displace, kill, and deprive people of their political self-governance.
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  207.  @theomay939  Yep, it's not as crazy of a policy as some Americans seem to think.
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  208.  @stephanreiken9912  So you're in favor of paternity leave?
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  209.  @stephanreiken9912  The cultural problem is capitalism. Economics and culture mediate each other, both are relevant.
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  210.  @Ironknuckle100  Lol, what? Are you just making up things you want to read? It's a decision made as a couple.
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  211. Is litter-aly a pollution pun? If so, I think it's a trashy joke, if not, your spelling is garbage. To be honest, I won't walk down some streets behind the building because they're litter-alley filled with filth! I hope that joke wasn't too recycled. Sorry for all the throw away jokes, Im wasted rn.
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  212.  @IndependenceCityMotoring  Lol, context needed.... It lifted billions of people out of poverty while also putting the world's ecosystem and all 8 billion people in jeopardy :/ Feudalism increased the security of many people.... Are we just going to sit around and say that's the best we can do?
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  213.  @Homer-OJ-Simpson  If that's your interpretation of my words, your username isn't too far off. Of course corruption happens all over the fking globe, I said neoliberalism seeks to justify a culture of maximizing profit without considering social costs. We have legalized bribery as lobbying and so it wont appear on corruption indexes as prominently as it should.
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  214. Unironically, the answer is.... Socialism “Call it democracy, or call it democratic socialism, but there must be a better distribution of wealth within this country for all God’s children.” – MLK, Speech to the Negro American Labor Council, 1961. “We must recognize that we can’t solve our problem now until there is a radical redistribution of economic and political power… this means a revolution of values and other things. We must see now that the evils of racism, economic exploitation and militarism are all tied together… you can’t really get rid of one without getting rid of the others… the whole structure of American life must be changed. America is a hypocritical nation and [we] must put [our] own house in order.” - MLK, Report to SCLC Staff, May 1967. “The evils of capitalism are as real as the evils of militarism and evils of racism.” – MLK, Speech to SCLC Board, March 30, 1967.
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  215. Good. It's ridiculous when you have 8B apes and the social structure doesn't even take care of half of them. At least the countries that are creating exorbitant inequality also decrease the amount of people affected by inequality.
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  216. Capitalists hate competition, competition drives down profits and capitalists want to increase them. .. the natural tendency of capitalists is to end capitalism
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