20th Century Capitalism and Regulation in the United States

[PtahGaming]

I truly enjoy learning from this guy. Even though I respectfully disagree with him sometimes, I find him rather unbiased and very informative.

[LalallaSN]

My good Sir I Think I learn more from you than from school.

[TheJack9588]

YOU ARE A GENIUS

[dmcarefuldriver]

Great video. It's amazing how many people still have no idea how the financial meltdown happened.

1. Bush admin. & Greenspan lets banks & Wall Street do whatever they want

2. Banks, Freddie Mac, Fannie Mae sell crap mortgages to people who can't afford them

3. Gov't bails out AIG and the big banks, more defecits

4. Bernanke ramps up the money printing, inflating prices and putting more Americans in debt, unable to pay mortgages. More bailouts - foreign banks, GM. More gov't debt.

[scrubrug]

What is it about religion and politics that makes people behave so backwards? Everybody has one set of beliefs and believes anyone who disagrees is ignorant and brainwashed. The comments here only exemplify this, how did this happen? Are we all for the most part brainwashed by someone Else's personal interest?

[Jotto999]

Please talk about Keynesianism and how it is part of government screwing society. We badly need more capitalism, the signs are all over. Just look at how much innovation is gone overseas, among other things. Look how crappy the economy is despite ever increasing government intervention, look at the flourishing of other countries who themselves adopt more capitalism. To me, it looks pretty conclusive, though I'm sure keynesians and/or liberals will tell me I'm a big oil stooge.

[lclarsen]

@PressForFreedom

They have generally been considered a fringe group among economic researchers, since the history of modern booms and busts has given greater support to a Keynesiasn perspective, however this has changed as more money from business and right-wing think-tanks has come into academia. (Even the "Nobel Prize" for economics is not actually a Nobel Prize, but was a Swedish bank prize that shifted in the ideology it rewarded depending on it's own struggles with the Swedish govt.)

[sonnybrown]

Excellent video as usual. Keep this amazing work going please.

[sonnybrown]

AH, close, but I'd like to see more about the industrialists of the late 19th century times. Very interesting times.

[sonnybrown]

@PressForFreedom Agreed

[stperkin]

I like that. Capitalism for the sake of innovation and progress, not capitalism just for the sake of capitalism.

[qtutoringhelps]

You really should know that the financial industry is massive regulated already. If the IT industry is 80-90 percent free market and 10-20 percent regulated, the financial industry is the exact inverse: 80-90 percent regulated by government.

[qtutoringhelps]

Teddy was hands down the worst President in history.

[sonnybrown]

@qtutoringhelps Why?

[tnekkc]

Khan,

You are ok on math, but on economics, never say Keynesian without spitting and cursing.

Keynesian economics is the kind of madness FDR and Obama used to create depressions.

[SPQRomantic]

@PressForFreedom lol

[SPQRomantic]

@PressForFreedom Non-sequitur. 

[SPQRomantic]

@PressForFreedom No no no no no no no.

Defunct old economists bad.

[kermitcintronsucks]

nobody wants to listen to a bunch of right wing extremists like mises and hayek and rothbard.

[oldmanjenkins100]

Look at me still talking when there's science to do when I look out there it makes me glad I'm not you so I'm glad I got burned think of all the things we learned for the people who are still alive

[oldmanjenkins100]

More text that's just great now we get to have longer YouTube comment fights

[parkj238]

free market capitalism is not immune to corruption. Those that have market power want to keep it or increase it, there's nothing inherent in capitalism that would prevent a monopoly. The only way to stop the big boys from creating an oligopoly or monopoly is to have REGULATION in place. Just focusing on government's role misses out on what capitalism allows for. Look at third world countries where the rich elite rule all, and the government have no power.

[megeles]

"the worst of capitalism and socialism" couldn't agree more

[modingity]

@PressForFreedom Murray Rothbard talked a lot about government being in bed with corporate america, especially John D. Rockefeller. John Foster Dulles was a lawyer for Standard Oil before becoming secretary of state under Eisenhower. Dulles's grandfather and uncle were secretary's of state, and his brother was Director of the CIA. Dulles was also a supporter of Nazi Germany and Hitler. Very strange bedfellows...

[LibertyOfExpression]

Competition is not a goal, it is merely a way for markets to function better. If a company is so productive and so responsive to consumer demand so that no other company can compete with it, it merely means that this company should have an as big responsibility as possible. If that company starts abusing its monopolistic stance on the market, than the marketplace will be open for competitors.

[metalgod666alex]

when is the next history video going to come up ? really like what you've been doin'

[deadbutmoving]

History shows that big government will always lead to big monopolies.

Standard Oil was only able to grow soo big because they bribed the government to ignore their pollution of other people's property.

Monopolies cannot arise from Capitalism; Monopolies have always rose from corporatism, corruption, and bribery on the governmental level.

[MrPolysyllabic]

@deadbutmoving Huh? Corporatism IS capitalism. If you watch the informative video above you'll learn that big gov't led to more regulation, that regulation led to "Trust Busting" or banning monopolies. You have it completely backwards and/or wrong. Typical right winger, you profess ignorance. I bet you felt real smart and stuff when you typed all that too. Go back to your alternative High School and get them to super-size that GED for ya.

[deadbutmoving]

@MrPolysyllabic

Do you even know the difference between Corporatism and Capitalism? And what makes you think governments don't transform? Capitalism can become Corporatism and Socialism can become Dictatorships.

Every "Monopoly" that ever existed in American History was cause by Government being pro business instead of being pro liberty. Standard Oil, Railroad Companies, and Financial Institutions got their monoplistic power by bribing Government.

BTW, I'm a Classic Liberal, AKA Libertarian.

[MrPolysyllabic]

@MrPolysyllabic Can you fill up another field with text for me? YouTube upped the character limit, you can now put more nonsense in here than ever before. You've contributed so much errant information, I would respond to it all only to be accused of straw-manning you. The Libertarian in you shows, right-wing fanatical trumpets regale in your presence. You clearly read half of a book then ad lib your version for the other half, then you scoff when your called out for being a moron.

[firerulesthesky]

@khanacademy It would be great if you could do a video over stagnation (Carter/Reagan), supply side, and demand side economics.

[hedonism13]

I think towards the end of the video, is the closest we'll ever see Sal getting pissed off.

[MrBornsleeky]

khan, they are not free market capitalists. They are monopolistic capitalists. And they undermine our republic.

[Flamingames]

There needs to be more regulation good video

[bobbyewing311]

Very informative as usual Khan. I really enjoy these videos.

[allenepope]

Thank you for the video.

[ch1kusoo]

Why no mention of the Depression of 1920-1921 under Warren G Harding and Calvin Coolidge? 

[erwinthehamsandwich]

I'd like for someone to tell me with specificity how the "Robber Barons" hurt anyone. I'm pretty damn sure these were some of the greatest men of the last 200 years (except for Morgan), contrasted to the others, who were some of the worst.

[Waranle]

Thank you Sal

[blakstar101]

Summary of American Anti-Trust Law:

Raise Price--->Illegal

Lower Price----> Illegal

Charge Same Price as Competitors----> Illegal collusion

*Every business decision on price is potentially illegal*= businesses are arbitrarily chosen to be monopolistic.

Definition of Monopoly: restricts output (less amount of goods and services), raises prices, and keeps out other businesses.

A business' large size is not the criteria for determining a monopoly, its actions determine if it is monopolistic.

[endauthority]

@BangleBongo Its applied to governments who have central planning and ignore the pricing mechanism of the free market. This applies to practically everyone, and Cuba has existed for quite a long time, and they followed the soviet model (thus proving the soviet model is not destined to collapse)

the e.c.p from mises applies directly to cuba. They still exist.

It applies to 90% of western europe

90% of asia

Why hasnt it ever happened? it= collapse of the government, as predicted by mises & hayek

[blakstar101]

Rockefeller saved the whales. Refined kerosene from petroleum to use as fuel for light. Kerosene replaced whale oil. Made around 300 products off of petroleum waste by-products (petroleum jelly). Before him, people dumped gasoline into rivers as it was a byproduct of oil refineries but he realized its value. Didn't patent any new products. Donated 500 million to charities.

[aSheeple]

as soon as we start giving back power to rich people, they come along and fudge things up.

[utubehayter]

Salman, try to stay away from this topic as you know almost nothing about so-called capitalism and so-called deregulation other than what is taught in govt school history books. I understand you are trying to be neutral, but you are not. You are unknowingly perpetuating strawmen for real world things.

Please stop doing so and do learn some history and philosophy, if you want to educate people correctly.

[truthcrackers]

The financial crisis was caused by the REGULATION of interest rates by the FED. This provided incentives for risky lending. The banks stacked the gov who made regulations that guard their monopolies - too big to fail - and block their competition. Its the regulation that allows the monopolies to arise.

[TheEthanwashere]

@truthcrackers What? from what I understand repealing the glass-steagal act (which caused deregulation of the banks) caused it.

[Hooya2]

@truthcrackers What? It was banks repeatedly making high-risk bets on sub-prime mortgages, and then bundling them and selling them to unknowing buyers until everyone went 'oh hell, this mortgage is crap' that caused the market to collapse. FED my ass.

[MrPolysyllabic]

@truthcrackers What you are talking about isn't regulation. Regulation does not cause nor allow monopolies to arise, criminals do. It is those that are breaking the rules, ignoring regulations, and utilizing tort or political associations to avoid penalization which victimizes our society. The financial crisis was cause by criminals that broke the rules after their era of buying politicians and media didn't fill their pockets fast enough. Less regulation now will only lead to similar incidents.

[endauthority]

@BangleBongo according to mises and his economic calculation error, practically every government in the world should have collapses by now.

its an empirically disproven theory. unregulated capitalism results in nothing but human suffering for the majority of people

[utubehayter]

@endauthority

Sure, also by the logic that parasites are malicious and dependent on hosts, all hosts would have died out by now.  It is one thing to be ignorant and it is a whole new ball game to concoct your own half-assed theories so as to falsify those of others.

[exstntlstfrtn]

@endauthority And exactly what period of time did we have unregulated capitalism? At every point in this country's history, there has been some level of market-distorting regulation of private property rights and voluntary exchange. Some eras were not as bad as others, but there is one consistency. The more regulation you see, the more unintended consequences there are, and the worse things get. I challenge you to find evidence to the contrary.

[AznBorderGuard]

thank you sal you saved me from my AP US exam

[paulceltics]

thanks

[sajidbaten]

i hate to say it, but amirica is going in an ugly direction, where we create increasing regulations on the middle-lower class, while lefting most regulations on the rich and banking systems. essentially, the once great free market, has turned into an almost dictator like control, through large corporations and banks on our economy, and essentially our livlely hood. we live in a world where 1% of the world owns 40% of the worlds wealth, ithink its time to stand up and remeber who contrls the wrld

[endauthority]

@PressForFreedom a stopped clock is correct two times a day.

[jazerazo]

"hopefully you find that interesting" All your videos are interesting Sal!!!

[chevytheplayer]

Also kevinus

If I were reincarnated I would wish to be returned to earth as a killer virus to lower human population levels. - Prince Philip

“My three main goals would be to reduce human population to about 100 million worldwide, destroy the industrial infrastructure and see wilderness, with it’s full complement of species, returning throughout the world.” -Dave Foreman

A total population of 250-300 million people, a 95% decline from present levels, would be ideal- Ted Turner

Still a theory??

[AQGOAT24]

@chevytheplayer Quoting random people doesn't help the argument. Anyone can find quotes. You should provide evidence such as documents, videos, etc. to prove the illuminati's intent. If you do that, I will believe it when people talk about the illuminati.

[chevytheplayer]

@AQGOAT24

Look I don't believe in UFOs/Aliens/etc, but I QUOTED something, and that quote can be found IN A BOOK THE MAN WROTE, PAGE NUMBER AND ALL and you still can't believe it... then my friend you fallen for what this man said:

"Propaganda aims to intensify existing trends, to sharpen and focus them, and, above all, to lead men to action or, when it is directed at immovable opponents, to non-action through terror or discouragement, to prevent them from interfering"-Jacques Ellul

[AQGOAT24]

@chevytheplayer What page number did you provide your comment has none. Appealing to authority doesn't prove anything. Because they want to cut the population down doesn't mean Illuminati. I know a lot of people who think we should control the population. Proof would be again, documents, videos and direct quotes these guys say talking DIRECTLY about the Illuminati, not about their personal philosophies. Quoting these people doesn't equal NWO like not knowing where the universe began equals god.

[EliteKiller07]

Could you do a video explaining more in-depth of how the 2008 collapse happened? I watched the documentary "Inside Job" which explains it pretty well, but you seem to explain things a lot better.

[KickYouInTheThroat]

you should follow up on the robber barons with a segment on the history of marijuana and why it was really outlawed.

[sskipe109]

Not much info. I want more detail about policy

[hossein1413]

COULD U DO A VIDEO ABOUT THE ILLUMINATI PLEASE !!

[kevinus2710]

@hossein1413 haha, u've read a lot of conspiracy theory

[JOZZ145]

@chevytheplayer The group was never created as it failed to include Japan, instead he formed the Trilateral Commission (TC) in July 1973 which is well known and even produced its own magazine the Trialogue. There are no true conspiracies revolving around Rockefeller, there are invented for popularity and social advertising, part of being able to play the "game" profitably.

[TheGstar1985]

@kevinus2710 Yeah he's one of those idiots.

[susashi]

the very first viewer me