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

  1. Lol, says the person who probably doesn't know the definition of socialism nor how to spell Keynesian 👍
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  2. You might be interested in the Cleveland model/ Preston model of cooperative economics.
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  3.  @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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  4. Automation would be really cool if people could use it to increase their freedom instead of decrease their wages.
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  5. 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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  6. 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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  7. Shhh! You'll scare the Republicans away from questioning capitalism, lol
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  8. 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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  9. 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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  10. 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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  11. 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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  12.  @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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  13.  @latifoljic  Ah, okay. I agree.
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  14. 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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  15. It's just a public relations forum to fool people into legitimizing ever more exponentially increasing inequality and ecological disaster.
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  16.  @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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  17. Bbbbbut John Locke and "natural law"
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  18. 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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  19. 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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  20.  @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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  21. 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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  22. Other than natural gas do you guys have a low amount of imports?
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  23. 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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  24. 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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  25. Or we could go French Revolution style.....
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  26. 🤮🤮🤮
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  27.  @thebestevertherewas  How's Flint Michigan holding up? We have the most billionaires... And yet also some of the largest inequality.
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  28.  @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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  29. Cowabunga, my Lord! Serfs up!
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  30. 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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  31. 🤮🤮🤮 Fascism is horrible
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  32. 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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  33. No.... So this is the best system we'll come up with? This is it, huh? Pretty lame, imho
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  34. 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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  35. Lol.... Please tell me you're joking, or else we are all fked
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  36. 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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  37. 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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  38.  @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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  39. 🤦🏼 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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  40. 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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  41. What makes you believe in the labor theory of value?
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  42. What are you talking about?
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  43. GDP is constantly rising too.... 🤦🏼 Not to mention over 40% of UST bills are held by American citizens
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  44. 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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  45.  @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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  46.  @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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  47. You could have just said what it was...
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  48. 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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  49. That's what I thought I was surprised to hear the contrary
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  50. Thanks for providing the name
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