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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