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

  1. 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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  2. 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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  3. While I agree I'm curious what your contentions are with it
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  4. 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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  5. Adam Smith was a liberal...
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  6.  @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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  7. There is a main topic... Problems with Capitalism
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  8.  @mayavi93  fair point
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  9. 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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  10. How did you learn this? Did this fact fall out of a helicopter and into your lap?
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  11.  @JayVoracious  No, you Google it.... Or be thrown out of the privatized helicopter.
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  12. 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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  13. 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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  14. Lol 😂
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  15. You're objectively stupid. America is a bastion of Western capitalism
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  16.  @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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  17. 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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  18. 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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  19. 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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  20. Come on, nobody wants three acres and a cow anymore.
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  21. 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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  22. The material means of production..... It's not that complicated.
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  23. You think it's going to last forever? Lol
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  24. Better than Friedman... Bruh
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  25. The invisible hand does allocate resources 🤦🏼
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  26. 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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  27. Philosophy isn't a science- science deals with knowledge, philosophy deals with wisdom
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  28. 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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  29.  @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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  30.  @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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  31.  @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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  32. Copium of the masses
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  33. 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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  34. Arthur Pigou did nothing wrong!
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  35. On the contrary, The sheer notion of competitive advantage is what sets capitalist productivity apart from mercantilism
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  36. It's basically like capitalism, everybody follows the prophet
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  37.  @ricardokowalski1579  lol, capitalists, silly.
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  38. Lol
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  39. Yeah- free markets don't exist irl, lol. When was the most free market time in history?
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  40. Inflation. Govt spending creates inflation if there isn't enough consumption capacity.
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  41. 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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  42. Yes it does, ARC GPUs
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  43. "a Capitalism" lol
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  44. So your solution is to privatize everything including the air.... That sounds dystopian AF
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  45.  @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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  46. Yes, but corporate lobbyists don't like Arthur Cecil Pigou :( This makes Arthur Pigou, and I, very sad.
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  47. 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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  48. Capitalism works for the owners of capital
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  49. What's the solution?
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  50.  @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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