Capitalism The Only Upwardly Mobile Economic System

[Biofishable]

Which ways Up?..

[rmcdaniel423]

"I always respect what you have to say, but a lot of times I disagree."

I wish the rest of youtube users had that kind of civility. Well done.

[toymachinethunder]

good video socialism is brainwash

keep it up!!

[AhYaOk]

Its easy to oversimplify free-market vs. government program /oversight on both sides of the argument. It can only be argued on a case by case basis. For instance, the price of a house is not completely determined by the free market. You have to throw in expected equity, the interest rate, and the ability to get a mortgage and on and on.. Get it? I believe in a free market, but government regulation has its place.

[SillyGrandpa]

American wild west capitalism is a failure !!!

[latmasken99]

Hm intressting point. However, can you then explain why sweden and norway (and 11 other socialistic nations) rank higher then the usa in HDI? Also explain how it comes that american style capitalism can be so much better then swedish socialism when productivity rates here is 2 times higher then in the usa?

[TommyNawrocki]

@latmasken99 over simplification, LARGER POPULATION, but there are many factors. I would challenge you assertion that productivity is 2 times higher in Scandanavia, to which industry are you referring?

[Aaberg123]

I don't know your views on Denmark are; how socialist you would deem it. But you said this: "Without capitalism people would be stuck ... in the social classes they were born in."

Depending on your grounds of comparison, this may be interesting:

Google this: "Structural rigidities in the US and Europe". For an easy overview of my point, look at the graphs at the bottom. They should be quite self explanatory.

[MarkyJboy]

Hum Opchidexio so you don't even think the planet knows that were here? Try reading some books instead of Fox News Flashes. And sorry to tell but planet earth has already said good bye to us, its called AIDS.

[opchidexio]

Tommy, you said this MUCH BETTER than I could. Hey. Look at the comments below. Where did all these Marx fans come from?? There MUST be an organized effort to spread this junk, don't you think?

[MarkyJboy]

Capitalism is not Democracy. Capitalism is like a shark, all sharks do is eat and they cant stop swimming or they'll die. Hum Capitalism cant stop spending producing and consuming at the cost of fucking up the the natural world, everything thats green, wild and still free. Oh and dip shit half the world is still starving thats the part of the world that is being raped by capitalism. Sure there was no freedom is the Soviet countries but that was totalitarianism not true socialism.

[cratesors]

totally agree...

[opchidexio]

"Fucking up the natural world"? Only in your mind, pal. The natural world is doing just fine. This planet is huge and self-sustaining. It doesn't even know we are here! (And WOULDN'T CARE if it did!!!)

[nikancuole]

Capitalism is a good way to produce wealth, but without functioning democractic institutions the wealth is not used for the public benefit and simply goes to concentrating capital in the hands of those with most influence within the system.

Privatization is a way to further remove the resources of the state from public control and place it into corporate hands. Once everything is privatized, democratic debate will be meaningless, since there will cease to be any public sphere to debate about.

[timbosforporn]

I think most people who advocate for socialism are people who are at the bottom and feel they can't get ahead but then someone comes along and says "put us in power and we can save you from poverty". Well what happens is they get power, you feel better, and you still wind up poor.

[opchidexio]

Exactly.

[DanReborn]

look..

socialism= Free college, health, retirement pay, housing benefit, unemploymet benefit, disability allowance.

usa= you get fuck all unless you pay for it yourself.

i am 19 and if my country didnt have a socialist health system i would be dead because my mother would not have been able to afford the $300 000 of medial costs that i have endoured.

[theohaigy]

The Soviet Union wasn't Socialist. It was Communist - the far extreme. There's a difference. Capitalism is a dog-eat-dog extreme - a Russian roulette where one of us is a millionaire and the other has zero. Is everyone in America rich? Are there no poor US citizens? Believe it or not, socialism and capitalism can work together. It doesn't surprise me that Americans think socialism and capitalism are the same.

[theohaigy]

My mistake, *Socialism and Communism* ... Communism is simply a more extreme version of Socialism but they are not the same. I think Communism can only work in an Amish village of 200 and is destined to fail on a large scale. But Socialism is toward the middle between each far end - trust me , it works. People don't go bankrupt after 1 visit to the hospital here.

[TommyNawrocki]

Just remember someone always has to pay whether it be the government or an insurance company. Pool healthcare in a free market and i guarantee you it will be far superior to socialized medicine.

[cratesors]

no, is not far superior...

You should see the movie SICKO... and please dont tell me is propaganda...

You should travel out of the US some day.

[TommyNawrocki]

@cratesors I have seen SICKO and all of Michael Mooore's other anti-american socialist nonsense films. Just remember he is well outside of the mainstream and has am agenda.

[grendel1013]

@TommyNawrocki You have absolutely NO clue how Socialism works. For starters, there is no country that is true Socialist.We have Socialist programs in the U.S. The police, fire departments, public schools, Libraries to name a few, and they work great. Other countries with Socialized health care have a longer life expectancy than the U.S. The U.S ranks at number 27. If our system was so great, why don't we rank #1? Btw, the U.S is not a Capitalist country, it's a corporatist country.

[truthadvocate]

thehaigy, It doesn't matter if Socialism is different from Communism. They both redistribute wealth based on need. This destroys incentive for productivity, thus less cures for disease, less wealth created, more poverty, etc. They both put control of industries in the hands of the government, which is by nature inefficient. Why do you think the government is any more trustworthy than the private sector employers? Government is typically composed of people that seek power.

[theohaigy]

I'm from England and I don't trust our government any more than I trust yours. Capitalism means personal wealth and freedom to become rich by yourself, for yourself. But socialism means things like healthcare (which I get for free) through public funding and the entire country shares the same piggy bank.

[DanReborn]

"This destroys incentive for productivity, thus less cures for disease, less wealth created, more poverty, etc. They both put control of industries in the hands of the government, which is by nature inefficient"

hahaha that is the most ridiculous load of shit i have ever heard.

[opchidexio]

Maybe. But its all TRUE.

[theohaigy]

You are talking about Socialism as if it's the same as Communism and it's not. Capitalism is all very well but healthcare in America is one example of a capitalist flaw. The UK is socialist under Labour. I've been to the hospital and dentist countless times. Health Insurance? What Health Insurance?

[TommyNawrocki]

Thats all good until you become a victem of the triage system and you are too "old" to rate proper care. Do you ever wonder why wealthy foreigners send their children here to be educated or why they come here for health care? Competition always makes things better. We do have work to do I agree with you there.

[panostsak]

The UK has socialised medicine, its free for UK citizens and Europeans and people still come for operations; I have seen it and its amazing, and you pay nothing. And they still send their children to study here. Capitalism is ok, but to a certain extend. You can see that you have problems with your greedy capitalism..Sweden is a perfect example, they are not communists but they work perfectly. Your free market brings more victims than benefiters.

[panostsak]

Thats typical American right wing attitude...If its not capitalism, then its communism!! Scandinavians are not communists, but they have socialised systems and they make a fortune! In the UK, I had to fill in ONE form, and in less than an hour I could go to any doctor, hospital, dentist and pay nothing! And if you get cancer, the treatment is free...how can capitalism beat that? please..

[ticklebug]

You guys pay through the nose in taxes and it's significantly more expensive to live in England, though. You're paying less than Americans for health care, but you're still paying for it. Plus, if your medical condition is a non-urgent matter, you wait a long time to get treated. There are advantages and disadvantages in both systems to be fair.

[panostsak]

I agree, but the bottomline is that you dont die if you dont have money to pay for any serious health problem. And it is not "England", its Europe. Every european citizen can be treated in any european country. So the "taxing" is subjective. Besides I like to pay this kind of tax knowing that if I ever get cancer, I will pay NOTHING for medication which can cost 1000's of £££. Life is always better than a pocket.

[projectdurden]

Capitalism is good, however, I think the US Government needs to regain control of the Federal Reserve. In 1913 it lost control. Private citizens took it over. The Federal reserve now invests its money in War. War is big buisness as you know. Just thought I'd point that out.

[tubeboy7575]

you are dead on with your response!! I would like to add that poverty is a relative term. If you gave every homeless person a million dollars, those who lived in low cost apartments would be considered poor.

[hawkj2345]

The idea behind capitalism and the influences which drive it are not being discussed. The root behind the promotion of capitalism is the lust for money, GREED. It is greed which drives wealthy organizations to seek maximum profits. The problem with capitalism is not government taxation. Capitalism exists primarily to benefit the capitalists, not the downtrodden or the ones whose labor is exploited while the ones with ownership toss them chump change.

[TommyNawrocki]

You are so off base, competition is not greed although a little greed can be good because without greed you would starve. Noone gave my family a lift when they came to this country, they worked hard, invested built wealth and took care of thier family something that would not have happened in a Socialist country. Jobs are plentiful in the USA right now, unemployment is about as close as we can come to Full employment.

[kjones2345]

To think that capitalists arent greedy is just naiive. And you dont make sense by saying that without greed people would starve. Greed is what drives companies to outsource jobs because the objective of capitalism is to gain as much capital as you can. Competition is a result of capitalism, not a means. You obviously dont know what greed means if you think that greedy people put food on the table for those who are starving. Yes they mass produce goods but they only do it to make a profit.

[blacksnail]

well yes, and no, competition is what forces us to advance, and thus become better at feeding ourselves, there for it is good for people to be greedy, it spawns advancement

[hawkj2345]

You seem to be equating competition with greed. Youre right, its good for people to be competitive because it promotes advancement for all. However, greed is SELF-SERVING.

[timbosforporn]

I like to make money and I am not ashamed of that at all. Call it greed or whatever but most people like to have money and lots of money.

[USALawyer]

Let us pay homage to the "the invisible hand," of the great Scotsman Adam Smith (1723 - 1790). It is an economic system in which the means of production are privately owned and operated for profit, and in which investments, distribution, income and pricing of goods are determined through the operation of a free market. When YouTube goes with "Revenue Sharing," (May 4, 2007) Ian probably will choose Capitalism and get on board of the YouTube Gravy Trail. Great Video. 5 Stars.

[theCommenteer]

You're partially right, but the 2 big problems are the "2 Americas" and sustainability. Capitlism raises all boats, but the poor people's boats come up very little. And it requires ever-expanding markets and populations. It is likely that capitalism will fail eventually, either by politics or by economics.

[TommyNawrocki]

Not even th universe is infinite however growth is sustaianable even beyond the petroleum era. Technology will be the key factor in the continued growth of the world economy and capitalism has pushed technology for hundreds of years now. Over population is a myth the planet is perfectly capable of sustaining even 50 billion people comfortably.

[cratesors]

The planet is capable of holding 50 billion europeans.

But is incapable of holding 50 billion americans, as your culture is of wasting resources, and eating more food than your body needs.

[ticklebug]

Google this: "Australia + fattest nation next to America". It's not just Americans that are fat, Australia is in a tie with us and are getting bigger than Americans at a faster pace. Here's another place where you're ignorant: Unlike the myth that you were brainwashed to learn, eating too much is *not* the result of "greed". There are many reasons why a person becomes fat aside from eating too much. And even if people eat too much, it's not because they just "want it all". *sighs*

[LeahcimVillota]

Were you born stupid or did it happen over a long course of time?

[Droidmakr]

Well it is clear that your arguments are well thought out... NOT!! The fact that you have to resort to this kind of namecalling only goes to prove that you have no argument, therefore, you loose 8^)

[TommyNawrocki]

@cratesors Do you really belive that? Yes we consume the most resources, we are the biggest economy on the planet. We very effectively use said resources though. We turn $1 of crude oil into $100 worth of goods and services for the world economy.

[cratesors]

hell no!

americans are sending the world to waste..

how you dare to say that?

[TommyNawrocki]

Also John Edwards "2 americas" is nothing more than a repackaging of old fasioned class warfare. Like I said poverty will not be ended by throwing more government money at it. The poverty pimps like Al Sharpton and Jesse Jackson dont want poverty to end and neither do the bureaucrats who rely on entitlement programs and there survival for their livelyhood.

[theCommenteer]

I am not qualified to judge your overpopulation pronouncement. There are 2 Americas, without a doubt. One class works 40 hrs or more just to pay the bills, the other worries on the beach at their summer house whether they should roll over their 401K. It is two different worlds in one America, and I'm not even talking about "poverty."

[TommyNawrocki]

For more of the 40+ hour a week workers to join the top you speak of the best way is to promote investment. Investment is the one vehicle for wealth creation that even the most modest person can use. Growth is the key. We need to build an investor class, redesign Social Security and thsi gap you speak of will evaporate.

[theCommenteer]

Individuals may be able to do that, but capitalism requires the majority to spend all their income just to get by, whatever the standard of living, because the market extracts what it can, and that is what the majority is able to pay. If everybody gave up cable tv to save that money, the economy would adjust to take that money. On the micro scale, saving is beneficial, but on the macro scale it would lower everybody's standard of living.

[TommyNawrocki]

What?? Capitalism requires no such thing. If the government leaves investment alone and those with less capital invest they will be catipulted into the backbone of this economy the middle class. Like it or not capital is what creates jobs, pays most of the taxes 81% and drives the economy. No saving and investing absoultely will not lower standard of living.

[theCommenteer]

I think my understanding of markets is more accurate, but I'm always wrong about everything, so maybe you are right.

[TommyNawrocki]

Think of it this way if more people are investing the market is growing, more capital is created and reinvested and as long as Uncle Sam keeps his hands off of the dividends even the most modest folk can begin to build wealth. It is a win win proposition the hard part is keeping the government's hands off.

[theCommenteer]

The <i>stock</i> market would be growing, but that $70/month I'm putting in isn't going to the cable company anymore. And that $50/month is coming out of Dunkin Donuts' bottom line. And I cancelled my newspaper subscription to buy that crappy little biotech.

[TommyNawrocki]

You make it sound like it is a one day thing. Investing takes time a patience. In the long run the capital you generate will end up back in the economy in more ways than one. Think outside of the box :)

[timbosforporn]

I don't know if a lot of people realize this but in order to have money you have to work and put effort into your lives. If people don't do well then its their own fault.

[theMello99]

OK Tommy, where is your Bull gear?? C'mon, get going!

[TommyNawrocki]

Hey Mello I have some Bulls stuff with me but they are winter stuff sweatshirts LOL. I will get a hat and a Tee :)