Comments by "Tony Wilson" (@tonywilson4713) on "Iowa Revives Child Labor | The Kyle Kulinski Show" video.

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  15.  @Khalkara  As for the more detailed answer to your first question of how is this a perversion of capitalism. AND THIS COMMENT IS FOR EVERYONE ELSE If you were to read Adam Smith or at least read about Adam Smith the author of "Wealth of Nations" which is considered the origin of capitalist economics, then you'd know he was never about the 1% having all the wealth at the cost of the 99%. Smith was about how the other 99% also gain wealth. Its was in response to the mercantilism which was the economics that came out of the industrial revolution. But going further. Mark Blyth points out that there have been 3 major variations of capitalism over the past 150 years or so. 1) First there was the gold standard that lasted up until World War 2. 2) Then there was Keynesianism that lasted up until the 1970s. 3) Then there was neoliberalism, which is also called Reaganomics and Thatcherism. Mark has pointed out in numerous lectures and at numerous conferences how neoliberalism should have ended after the 2008 GFC and that we need a new version of capitalism. Here's the 3 minute primer on that: https://www.youtube.com/watch?v=MXJD5rE4omY Here's the conference talk he did in 2019 https://www.youtube.com/watch?v=tJoe_daP0DE And going further still into our current post GFC ERA which is a clusterFK. Albena Azmanova has described it as "Precarity Economics" in her book "Capitalism on Edge" which she's discussed with Mark Blyth https://www.youtube.com/watch?v=Z2CsqAwb5is Eric Helleiner has described the neomercantilism that has emerged in China which is a new version of the mercantilism the world was economically running before capitalism. https://www.youtube.com/watch?v=Q4X2qTxtwVM Yanis Varoufakis has explained what he calls "tech-feudalism" many times here's one of those times. https://www.youtube.com/watch?v=Ghx0sq_gXK4
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