Comments by "Michael Mappin" (@michaelmappin1830) on "David Lin "
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@JumpJolpes_23 , ideal capitalism in the United States was back in the days of jpmorgan, carnegie, rockefeller, etcetera. There were nine year old children working 6 to 7 days a week, 14 hours a day, there were no worker safety standards, no old age pensions, no consumer safety standards, no unemployment insurance, Etc. There was widespread poverty with massive profits for the owners of capital. Thousands of people would die from basic food and water contamination because there were no consumer safety standards. Thousands died on the job because there were no occupation regulations. That's the ideal capitalism that the owning class wants to return to. That's why they prefer having production in countries with the fewest regulations.
Capitalism is not about working. It's about accumulating wealth without working. Capitalism is literally the economic system of parasites. The idea is to get Workers to produce as much as possible while paying them as little as possible. And then you take what the workers produce and sell it for as much as possible.
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@JumpJolpes_23 , and what do you mean socialism continues to be envy? What are you talking about? That doesn't even make any sense. Socialism is the collective ownership of the means of production by the workers. Why do so many prefer working at a socialist company rather than a capitalist company? For one, the workers get all of the wealth of their labor produces. Two, they own the product of their labor. 3, they get to make the decisions in regards to what is produced, how things are produced, where things are produced, etcetera. That's why statistically speaking workers at socialist companies are happier, more productive, more creative, there's less incidents of mental illness, workers take fewer sick days, there's less incidence of spousal abuse, suicide, substance abuse, etcetera. But when you work at a capitalist company everything you produce belongs to someone else. The boss gets to decide when you work, how hard you have to work, what you can wear, when you get to eat, when or if you even get a coffee break, they can even tell you when and how long you get to go to the washroom. As a result of workplace stress in the United States and because the United States is number one when it comes to First World countries regarding the number of people working low-wage jobs, over 25% of the population now has a mental illness. It's speculated that 50% of the population at some point in their lifetime will develop a mental illness. United States comes in at number 27 on the social Mobility index. There are more people in the US relying on food stamps than the entire population of canada! 1 and 6 of American children doesn't get enough food to eat. 27 on the social Mobility index! That's even worse than Portugal and lithuania. Things are so bad now in the United States that literally over 54% of the population can't even read or write. Now in the United States the richest 1% has just about as much wealth as the poorest 91% of the American population. The US is basically a third world country for many of its citizens
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@youtuber6185 , this hypocrisy that you're referring to regarding speaking fees, do you have any citations to support what you're saying? As far as I know, Richard wolf, after expenses, donates most of the money he gets from speaking fees and Book Sales.
But regardless, charging money for a service that you're offering doesn't make a person a hypocrite. Under the Socialist system people will still be charging money for their services. Simply charging money for a product that you're producing, that doesn't make a person a capitalist.
And why do you say that socialism is worse than capitalism? What do you base that opinion on? You have these wild opinions but you don't do anything to actually support those opinions.
No, socialism is actually more conducive to free markets and thriving economies. Obviously you can't have an economic system where workers are constantly producing more than they can afford to buy. One of the reasons why capitalism is now dependant upon fractional Reserve banking. In order to have the market expand you have to increase purchasing power. But the goal of capitalism is in direct opposition to the basic principle of equilibrium and increasing purchasing power. It does the exact opposite. The goal of capitalism is to maximize profit. profits are maximized by getting workers to produce as much as possible while paying them as little as possible. So the more successful a capitalist company is, the less purchasing power workers have. You think that's a viable economic system? LOL. Socialism doesn't have that problem because workers own the product of their labour. If they produce a million dollars worth of goods and services, they now have a million dollars worth of purchasing power. When labor-saving technology reduces working hours and increases Prosperity, that wealth goes to the workers who in turn spended into the economy creating more demand. Labor-saving technology under capitalism results in workers being laid off or they have to compete with other unemployed people with drives the value of Labor down and profits up, exacerbating the entire disequilibrium
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@llhll8264 , I don't know why you would think capitalism is the best system. A system that allows the richest members of society to own most of the capital on the planet. Those that own the capital get to decide what is produced, how things are produced, where things are produced, how much workers get paid, Etc. What's the consequence? The richest 1% has almost as much wealth as the poorest 91% of the American population. Most Americans can no longer afford a family on a single income. And most things are made in China.
Capitalism is not conducive to free markets are thriving economies. One of the central goals of Economics is to achieve equilibrium. But the goal of capitalism is to maximize profit. Profit is maximized by getting workers to produce as much as possible while paying them as little as possible. So of course that's going to create an environment where workers producing more things they can actually afford to buy. But if consumption slows down, people get laid off. People to get laid off can't consume. You think that's good economic system?
Capitalism is a religion. It's not about working for a living. It's about accumulating capital for the purpose of extracting wealth from labour and resources without having to work. The only problem is, the more successful a capitalist company is at maximizing profit, the less purchasing power workers have. If you want the economy to expand, you have to increase purchasing power. Your overall Central goal can't be to decrease it. So technically speaking, capitalism is an anti economic system. It's basically economic feudalism.
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Why would you say that? We don't need capitalism in order to have businesses, markets, innovation, production, Etc.
Capitalism is about accumulating capital so that you can get an income without having to do any work. Why do you think Bill Gates is now the largest owner of Farmland in the United States? Why do you think he now owns a big chunk of the Canadian Railway system and wants to own the rest of it?
Under the capitalist system the richest members of society own most of the capital. So if you want food, clothing, Medical, housing, you have to pay extra money to people like Bill Gates. Capitalist increase the cost of living and the amount of work the rest of us have to do. If you have to pay an extra $100 to Bill Gates every time you get a blood test, that's $100 you no longer have to spend in the economy.
With socialism you still have businesses, production, markets, Etc, without the parasites! Yeah, that really bums some people out because in that environment if you want something, you actually have to work for! In that environment you just can't simply go out and purchase shares and collect money while you're sleeping.
Thinking that we need a combination of capitalism and socialism is like thinking that hosts need parasite.
Regulated capitalism and faux socialism (progressive taxation/ social programs) within the capitalist framework is just a strategy to maintain a balance between host and parasite. The capitalist class wants to extract as much blood as possible without actually killing the host. That's the trick.
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