Hello, Earthlings! Hope your planetary quarantine isn't getting you down too much.
As for me, this is as close as I'm coming. Social distancing, you know.
♪
Hello everybody in this video I will tell you why I think that capitalism is bad and why it has to be replaced.
A lot of you have asked me to do one of Viki 1999's videos. I've told you why I haven't: the very first thing Viki said about me
was a disgusting and reprehensible false accusation that I want to
We're dealing with a horrible individual who is
But, you keep asking, so I'll do one, and I think you'll find the context I've just given you explains
There are many ways to approach this. One of them is equality.
I'll just throw in a quote from Milton Friedman here, that's as true now as it was the day he said it:
A society that values equality over liberty will end up with neither one.
But a society that values liberty over equality will wind up with a great measure of both.
Capitalism is a very efficient system when it comes to creating a lot of wealth.
Unfortunately, it’s very bad at distributing that wealth.
I've already shown Viki the statistics debunking this.
With capitalism, you have
These morons
Pretty much all of the value the economy generates only benefits the top few percent of the population.
It's amazing how I
where I show
Generating benefits for the top few percent was the norm
It was capitalism that allowed people at the bottom rungs to build wealth for themselves.
In 1500, there was no way you were getting anywhere if you were a serf or a peasant.
But today, as I've shown over and over again,
92% of millionaires and 62% of billionaires in America are self-made.
People like Viki never even want to
Another approach would be wasted time. Capitalism actually doesn’t produce as much stuff as it needs to produce,
it makes way more, like up to 40% more.
Better than starving.
- The reason for that is complicated. - It's not, really.
It's called the Economic Calculation Problem.
No One
So there are only two options.
One, you put it in the hands of a central authority, that isn't efficient,
and can't get any information on it, so they try to do the minimum they can—and people starve.
Or, you leave it to the free market, where producers respond to consumer demand,
and compete with other producers trying to get an extra share of the market,
and as a result they end up
Given that an exact calculation is impossible, which one is better?
A bit of extra stuff produced that ends up wasted, or
But really, the 40% figure is misleading for a couple of reasons.
One, it's
Second, you know who
Nigeria,
Not only that, but 37% of Nigerian children have stunted growth due to poor nutrition,
18% were conisdered wasting, and 29% are underweight.
So, pick your poison there, Viki!
But take it that we all could work less with the same pay if we stopped overproducing quite as much.
Doesn't work that way,
Look at a supply/demand graph sometime.
Next is that capitalism isn’t good at distribution of resources.
This is absolutely hilarious, as there have been numerous economic treatises—
again, from
showing that the market is a form of spontaneous order
resulting in the most efficient distribution of resources humanity has ever been able to accomplish.
For one example, the transportation of food across the country is actually fairly complex,
but it efficiently emerged as farming changed from subsistence to farmers moving to a farming industry
and crops and cattle needed to be moved from the farms to the store shelves all over the country.
It is
not only because of the difficulty of calculating where the goods should be distributed,
but that the problem gets exponentially more difficult the more places it needs to be distributed to.
It's a form of the Traveling Salesman Problem.
In Europe and America there are millions of tonnes of food waste while 8 million people starve each year.
Did you notice the dishonest bait-and-switch here?
Viki mentioned the food in Europe and America, but the 8 million figure is
What did I tell you at the
First of all, 8 million people starving out of 8
And those 8 million people are
where their socialist governments actually intrude in the markets that are trying to create food for the people,
or their governments are blocking things like GMO crops that could be their lifeline,
or their governments are just part of a criminal underworld that's stealing the food to sell it on the black market.
No matter how you look at it, it's nowhere
The starvation is happening because these countries
And it's not just as simple as moving food from our countries to theirs.
In fact, that can actually backfire, as it'll adversely affect the market for local farmers
trying to produce food and make enough for
But something else Viki doesn't seem to want to mention: the world poverty rate has been
and the number of hungry people worldwide has dropped by 216 million people between 1992 and 2012.
That's an impressive figure when you consider that, in those socialist crapholes in subsaharan Africa I just mentioned,
hunger actually
Starvation is
- Capitalism promotes oligarchy. - Capitalism is the
Capitalism, as I showed in my video, by the definition used by
is a system of
Since competition naturally leads towards monopolies—
Oh, for crying out loud, how many times do we need to debunk that crap???
And all of this is just in the first
Those few didn't have more wealth and power the rest of the population,
which makes it a lot easier for them to bribe politicians.
And
What did those
Capitalism is also undemocratic, all of the decisions of what and how much to produce
and where to sell it and for how much are made mostly centrally by big corporations.
Guess how I can tell you've never run a business.
Yes, corporations make those decisions, but
The more consumers they benefit, the more money they make.
The more they go against what the consumers want, the more money they lose.
It's the
The McDonald’s management in the USA decides how much I have to pay for a cheeseburger in Vienna.
If they don't set that price at the equilibrium level of supply and demand, then one of two things will happen.
If they set it too high, no one will buy their cheeseburgers and they'll lose business.
If they set it too low, they won't be able to produce enough for everyone.
Come on—this is Economics 101 here! Have you done
And all of those faults are just the obvious ones which I don’t have to explain further.
You mean you
Capitalism is just employers legally stealing from employees.
Let me elaborate on that. This is a production process.
This guy has a machine which takes in raw materials and outputs a product,
but it has to be operated by someone and since this guy isn’t gonna do it himself, he hires someone.
So, one of them got more than they invested, and one got less.
And if we keep going we realize that all of the profit this guy makes is value he didn’t pay his employee.
And how did this lengthy diatribe—
which is
how did that begin? "This guy has a machine."
Okay,
Why is this
And how many times do we need to point that out?
Now you may say “okay, maybe it’s stealing but it’s not like there is a better system”
and if that’s your response I hereby give you the homework
to come up with a better system and tell me how it’d work in the comments.
Heh. Homework Fallacy! And he even used the word Homework!
Even without stealing capitalism is still, unequal, wasting time, letting people starve,
promoting corruption and undemocratic.
You can
All you've shown is your own dishonesty, as well as your own complete ignorance of how the world works.
And