Comments by "Tespri" (@Tespri) on "Democratic Socialism is Still Socialism | 5 Minute Video" video.
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Ain't no Slice
"By your logic no country is capitalist. EVERY SINGLE capitalist country has regulations on its financial system."
Correct, but less regulations there are the more successful the country is.
Unfortunately it's nature of politicians to seek more power.
"That is common sense. without it 'fare work acts' would not exist and business (motivated by profit more than anything else) will use anti-competitive and unethical practise (such as environmental hurdles, wage deductions, exploitation, price fixing etc) to outcompete their competitors."
Far better than having incompetent government deciding over how business should be ran.
There is nothing bad in business that is motivated by profit. There is nothing anti-competitive or unethical in wage deductions or price fixing.
It seems that you're new to the concept of creative destruction?`Without competition, the incompetent people would make business. Which is bad in long term.
Competition is there to weed out the idiotic assholes.
"And eventually, in nearly, every industry you'll get private ''too-big-too-fail'' MONOPOLIES that will destroy, not only the fabric of capitalism, but also the economy and consumer sovereignty. This is basic economic principle."
There is nothing wrong in private monopoly. What you should be more afraid is monopoly owned by government. You see private monopoly can be destroyed via competition. But you cannot destroy government owned monopoly with competition.
Too big to fail is socialist policy where government takes part of the industry and helps out company that has been ran by incompetent fools. Those incompetent fools still keep their money and power. This is only possible in system where government interferes with business.
"Regulation was built into capitalism from the beginning. Do you know what capitalism is?"
It's economic system where private industries and ownership are all controlled by individuals instead of government.
"And for you second para, why did you cut out the second half of that quote?"
Focus to the core point and to avoid flooding the comment with text.
"and now they incapable of escaping their circumstances because all their income is spent on necessities and none to actually improve their situation. You end up with the exact same thing you were accusing me off, but without a way to actually escape the poverty trap."
Nope, in work they are capable of escaping. They can actually save their money while working. In your system you cannot get any welfare benefits if you have money on your bank account. You're literally trapped.
Also in capitalistic countries without mininum wage, people actually earn more than enough to enjoy their life.
"You realise people with jobs can still receive welfare (I told you already), thats why impoverished and unemployed are separate categories."
No they don't. At least not in scandinavia.
"The minimum wage is not a living wage. I'm just repeating what I said above now."
Here in Finland current minimum wage is actually lower than in USA. Yet we live pretty well even with it. Also what you're suggesting with welfare is government subsidies. Where do you think all this money is suppose to come? As I said, you will only create vicious circle which will eventually lead into economic collapse as we have already seen in europe.
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