Enjoy Capitalism

[rodedawg74]

the problem is that the kind of capitalism practiced right now would make ayn rand join the teamsters

[toolshed333]

capitalism isn't practiced right now at all. there are only degrees of capitalism in an otherwise mixed economy. The most successful countries tend to rely more on capitalism, but no country is really capitalistic in its true sense.

[albania614]

If capitalism is so bad then why do cubans jump on pieces of wood and paddle to Florida?

just saying

[stockd21]

Greed for power is far worse than greed for monetary value...Sowell is a brilliant man

[mudassaralishah]

Shoing the labels of big capitalist cant make capitalist good, how they can forget the 80% population of the world?

[toolshed333]

It isn't a free society's fault if other countries choose to be repressive. 80% of the world governments (probably more) hates capitalism...thus 80% of the world is not prosperous.

[CAutoC3]

Toolshed that is genius! Bless you!

[FletchforFreedom]

Capitalism hasn't abandoned the poor of the world. It is their governments that have prevented them from realizing the benefits of it. Capitalism is the free market. Anyone falling for the Parenti distortion that most of the world is capitalist is simply not paying attention to the massively interventionist governmental system that has been adopted by essentially every third world country.

[Plaistivt]

sign

[goldsilverandiamonds]

The truth plain and simple,great job! The evidence is all around and easy to understand and accept when your intellectually honest.

[BoneCrusherG1D]

Wow that was great propaganda! Wheres all the sweat shop kids making your nike shoes? Or the people working 16 hour days to make your ipod? Capitalism is greed at the cost of the poor. You say your a tool, nirvana, NIN fan yet those bands speak out against capitalism, and greed. "One great big festering neon distraction has a suggestion to keep you all occupied, that is swell" "Got money not concerned about the sick among the pure, got money lets go dancing on the backs of the bruised"

[toolshed333]

Nike brought jobs into countries of poverty. The jobs paid higher than the average domestic job, and were safer. People were happy when they came to provide jobs. If they had American standards, the jobs would never have been sent to them. It is sad, but you need to let poor countries let the poor make the decisions for themselves on whether to work hard and feed themselves. Some rich BoneCrusher1D shouldn't be the one to take their jobs away because you think your doing them a favor.

[toolshed333]

Prosperity doesn't happen over one night or even decade. It took Hong Kong 50 years to go from a rock to having American standards of living.

Also your comment about tool, NIN and nirvana is just stupid. I don't pick music I like based upon political views of band members. Those are not very political bands lyrically anyways...the majority of their songs are just songs.

[BoneCrusherG1D]

Prosperity? You do know hong kong is a city, not a country that was captured by england a capitalist country right? The natives that work in the mills there are not prosperous, just the people that pay them shitty wages so they can become billionaires. It wasnt a stupid comment about the bands. These bands views on the world and life and what they sing about completely contradict your way of thinking. You dont care about people, just money. Greed at any cost.

[toolshed333]

Hong Kong is a city, with an economic and social system entirely separate from China, so most social scientists consider it a separate entity statistically. Over 50 years capitalism has turned it from a rock with no natural resources into an entity with a GDP per capita of $31,849 and a PPP of $44,413. This is well above international averages. Just look at pictures of the country across time. You can see their cities are prosperous...or you are blind.

[toolshed333]

p.s.  England capitalist??? lol...try imperialist fascists...lol...

[BoneCrusherG1D]

Its no decision at all. Eat dirt off the ground and shit fresh out of cattle, or work in a sweat shop and get paid pennies a day to buy some bread so maybe you can eat once a day. Safer? Tell that to african diamond miners. I dot wanna take the jobs away, I want people that think like you to stop using the poor like slave labor.

[toolshed333]

If those factories never existed, the workers would be no worse off. Because they do exist, they choose to work there, some migrating hundreds of miles to do so. The fact is that their alternatives are worse, and you wish to force them into more dangerous less remunerative domestically provided employment by taking away jobs such as factory production. Countries take time to grow, and your ideas would stifle their growth. At least let the poor make decisions for themselves.

[jca700]

You are such an F&&#in Idiot. Get educated before you take a position. Watch Milton Friednam -- Greed. Stop jumping in when you are so fu#&in stupid. Thanks!

[eurohim]

You're bringing up bands that create songs and sell them for money and become millionaires off of whomever decides to buy the CDs and go to their concerts.. wait a minute, that sounds like capitalism. They use capitalism and become rich, yet sometimes sing against aspects they don't like. Hmmm..

[toolshed333]

@eurohim thats the great thing about capitalism...it benifits everyone, even those who disagree with it. :)

[TimeWarp66]

0:53

SO TRUE!

[TimeWarp66]

2:22

[pizzafrenzyman]

The USA has generated the highest standard of living of any country in the history of the world, and this great achievement was accomplished via a free market society and limited government.

[vmf214nb]

Yup and we're using what you've created to bring it down.. Sorry but nothing every likes capitalism here, including more than half of the world

[NoMorFear]

WTF is with this censorship?

Do you really want me to call you a fascist or are you some easily offeneded religious sheep who doesn't like profanity cause it's a sin?

[toolshed333]

It is not censorship. If you make a ligitimate comment I will approve it when I sign on. I don't go onto youtube daily.

[toolshed333]

Fascist.  Since when has government control of private industry become capitalism???

[NoMorFear]

It was a hyperbole to describe your semmingly authoritarian tendencies. Couple that with a variation of right-wing economics and you get even closer.

Talk about hyperbole: "government control of private industry". How utterly retarded. You realize our current socio-economic system and both of our parties are well right of the political spectrum (in the authoritarian sector).

[toolshed333]

I realize that both parties are authoritarian and our system is not capitalistic. The relative levels of economic freedom across countries however explain a large part of the differences in income levels of all percentiles of a country. Saying that our system is not capitalistic is not an argument against capitalism.

[NoMorFear]

And do I really have to say that industry is infintely more in the hands of private control than it is in government, which is non-existant. Quit it with the empty rhetoric.

[toolshed333]

Thats a joke. Have you ever tried to count how many companies have lobbyist stationed in Washington?

Have you ever researched how much government funds go to business research and development?

Have you ever researched all our import/export laws.

Government is very involved in private business.

[NoMorFear]

I'd think influence and control are two different things.

"Government control of industry" connotes something to the affect of a centrally planned economy where government has direct control over most if not all of industry.

Private interest, initiative, and management runs pretty much all of industry.

There is no doubt the government is "involved', but what's the point. You said "control".

[toolshed333]

Well we can disagree on the degree of government influence. I agree that currently the private sector is more in control, but that control is limited and shrinking. I also think that government influence is most dominant in our most important industry, the financial industry, which is the lifeblood of commerce.

[NoMorFear]

Censoring is wholly unnecessary altogether.

[toolshed333]

Not when there are idiots on the internet who just swear relentlessly and give threats because they have differing opinions. Those aren't comments I want on my videos, they are attacks.

[jinx47555]

capitalism isnt perfect...its just 5 times better than any other system.

[toolshed333]

agreed

[NoMorFear]

Bullshit.

The only other "system" you know is whatever is shoved down your throat through education and propaganda which makes EVERYTHING other than the prevailing socio-ecnonomic system out to look unreasonable and unfavorable.

Capitalism is the only thing you have ever known and ever taught to be legitimate. And what a surprise, you believe in it. Of course you do, you have been conditioned to do so.

[toolshed333]

Since when has capitalism been shoved down anyones throat? The American system is far from being a free market.

[NoMorFear]

The American system is essentially state capitalist. "Far from" a free market, hardly.

And I mean that the prevailing socio-economic system, interpreted, taught and propagated to be whatever variation of (state) capitalism, and is never, ever thought to be illegitimate.

You're kidding yourself if you don't think we live in a, generally, capitalism system.

And "free market", though used as a favorable synonoym with capitalism by the establishment, is not really the same thing.

[toolshed333]

State capitalism is an oxymoron. Capitalism is a system where individuals have economic freedom, when property they acquire without the use of force, fraud, or theft is protected from physical invasions by others and they are free to use, exchange, or give their property as long as their actions do not violate the identical rights of others. It is a system of limited government intervention into the economy...ie the opposite of "state capitalism" which is fascism not capitalism.

[NoMorFear]

That is a basic definition but there are of course variants within the general system, just like socialism, anarchism, etc.

I suppose a more apt term would be "mixed economy". And I would still say capitalism is dominant within it.

[toolshed333]

Yes I agree, the definitions of these different economic and political words has been confused over the years. Liberal used to mean something entirely different than it does today. That is why I prefer the term economic freedom over capitalism, but this confuses some people just as much sometimes.

[NoMorFear]

Of course you think that, you have been conditioned to do so.

You believe and support the only thing you have ever been taught and viewed legitimate after years and years of education, indoctrination and propaganda. What a surprise.

Anything outside the prevailing socio-economic system is viewed as illegitimate and you have been conditioned to think so. What a surprise.

[toolshed333]

What schools teach that capitalism is the best system? The schools I was at taught how great FDR was and how the government needs to provide for the poor, medical, education etc. I don't think you have an good grasp of what the American economic or educaitonal system is.

[NoMorFear]

Ok, what is taught in "economics" in virtually every high school? Surely it is not syndicalism, socialism, georgism, etc, etc.

No, you will learn about the basic concepts, theories, and practices of capitalism and only capitalism. This is taught in a very objective and absolute sense, especially if it's an AP course.

Textbooks for history and such always put a favorable spin on capitalism. From Adam Smith and laissez-faire to industrialization.

[toolshed333]

No, where I was trained in economics they taught classical economics, Keynesian economics, new classical, monetary, etc. It was a mix of everything, not a indoctrination into capitalism which is not really a school of economic thought to begin with. Government schools are not big fans of laissez-faire, as the teachers benefit from the monopoly labor power they enjoy.

[NoMorFear]

Ok, but keynesian economics and such are all schools of thought that lie under the greater pretext of the general capitalist system.

Economics classes teach the theories, concepts and practices that are manifested in the prevailing system.

It is indoctrination in the sense that the field of economics is completely narrowed down to one system, from which its various schools of thought are taught and facilitated in a self-perpetuating cycle with no room outside the greater system.

[toolshed333]

I would agree that any field of study is too narrow to understand the entire world, but I still think learning about economics is valuable in understanding the mechanics of the market system. Also I think that keynesian economics is far removed from capitalism. I see keynsianism as supporting government intervention and inflation, and I see capitalism as a limited government system. Our disagreement probably comes from how we define those words though, not actual differences in thought.

[NoMorFear]

Undoubtedly you are one of those Ayn Randites who unequivocally believe it's every man for himself.

People have the freedom to suffer or not suffer through, and only through, their own means. Stupid things like health care and education are wholly conditional and should only be provided to those who can afford it out of the benevolance by those who can provide it.

[toolshed333]

No, i respect Ayn Rand, but i am not a follower of her individualism philosophy.

[Invirtuo]

what's this song?

[toolshed333]

"I Won't Back Down" by Tom Petty

[Invirtuo]

Thanks! Great video... Capitalism has improved all our lives

[toolshed333]

The fact that America is a mixed economy is not an argument for a middle-ground between capitalism and socialism.

Research published in such journals as Public Choice, Journal of World Trade, American Economic Review, Cato Journal, Journal of Regulatory Economics, etc. shows that at the margin increases in economic freedom increase the welfare of all income percentiles of a country.

[JMartins1981]

Great video. Sadly I've come to realize that the U.S. is no longer the country with the greatest individual liberty, so I've decided to move to Singapore instead. They may not be particularly great on personal liberties, but they're excellent on economic liberties, which is what matters; without economic liberty we're slaves.

[toolshed333]

I'd look into Australia, Switzerland, Ireland, and New Zealand also, unless you have your heart set on Singapore. It isn't going to get any better in America, so its good to get out while you can. I wish you luck. Before you leave, do some research on expatriation taxes though, and it might save you a few surprises.

[JMartins1981]

Thanks, those countries have the same type of western bureaucratic and pragmatic type of culture though, and as far as I know they're all doing the same mistakes in regard to bailing out companies and inflating the money supplies. I'd have chosen Hong Kong if it wasn't for the massive pollution from mainland China, though. I'll move to Singapore and remain there, until/unless individualism truly takes root in the U.S. again. I'll give moral support to the Ayn Rand Institute from abroad. :-)

[Invirtuo]

How about France? hahahaha

[plunk52o]

I have no fear of men in caves.

It's the ones defrauding their clients I'm conserned about.

[toolshed333]

Yes I agree. People who mislead their clients and steal from their clients need to serve jail time.

Not sure what the "men in caves" refers to though.

[gamp0001]

Thanks for making this. I really hope we have a non-violent revolution of the mind in favor of liberty and free enterprise. Sadly, the political powers entrenched in a position of socialist dictatorship on both sides of the aisle stifle that hope, and I fear that open revolt may at some point be the only course of action for those who love freedom. I don't want to pass on death and destruction to my son. I fear that the status quo leaves him no other choice.

[toolshed333]

Thanks for the comment. I agree 100%. Remember though true libertarians are not believers in open revolt in a violent manner, but only self defense. I know that is a thin line to cross, but it is an important one to keep in mind.

I much prefer a form of secession instead of a change of the federal government. To me it is a more practical and moral alternative.

[gamp0001]

True, and let me emphasize that my comment was an expression of my fears, and not an expression of my will. I don't want my son to have to give blood for his freedom. I hope desperately that people will naturally move toward it without a fight. I am terrified when i think that the bloodier portions of the Declaration of Independence may need to be brought back to the forefront.

[toolshed333]

Sad but true. The libertarian movement is growing among college students, so we have hope that people might naturally move toward freedom without a fight as you say. If history is any lesson however, sadly "The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants" - Thomas Jefferson.

[ciejoh]

Extortion of the individual's work product (i.e., income) in the form of taxation for wealth redistribution to fulfill the goals of the statists IS slavery in it's most pernicious form. The histories of the

Soviet Union, China, and third-rate dictatorships provide us ample evidence that the road we are now travelling will lead to deprivation, death, and internal conflict because the needs of the collective are ranked supreme de jure.

[hadjy]

yeah but screw exploited countries and ppl dying from hunger, u have fucking donkey kong! yeah!

[toolshed333]

Capitalism and charity are not mutually exclusive. You don't need government to help the poor. Ever hear of private charity? Bill Gates, Warren Buffet? Those men have done more to help society than any socialist ever has. You should stop complaining about other peoples money and start earning your OWN to help people with your OWN money.

[Individualism101]

Actually capitalism would save the third world; It is only brutally poor precisely because it does not have property rights. Look at the history of Taiwan. A third world country until the average citizen was granted property rights. Shortly thereafter sweatshops emerged, followed by schools and a generation later they had a huge middle class. Now they are the leader in computer chip manufacture.

Hong kong, Taiwan, Japan and recently China represent empirical evidence in favour of capitalism.

[hadjy]

hey u forgot to put there the palestinian women and children that die everyday, the ppl from the overexploited african continent that die every second because of the bread the western capitalism denies them, how the IMF is nothing but a piggy bank of the rich, how the fact that USA toying with central and souh america makes it's ppls miserable, that the situation in cong only is what it is so that the USA could have the amounts of cobalt they need,guantanamo, abugraib,iraq,vietnam.

[toolshed333]

Your grammer is poor and confusing.

Capitalism creates wealth. Those countries you mention are poor precisely because they lack economic freedom, not because they lack handouts. Feed a man a fish, eats for a day. Teach a man how to fish, eats forever. Those countries with their hatred of individual freedom deny their citizens the ability to learn to fish i.e. have a capitalist society.

[TummyTush]

Fuck capitalism.

[toolshed333]

Fuck socialism. Capitalism is the best system if you knew anything about history or reality.

[hadjy]

oh yeah? I would bet my arm on the fact that this world crisis we are on is a direct consequence of capitalism taking over our way of life, and failing greatly.

[toolshed333]

I'm not sure how credit expansion of the Fed, the Community Reinvestment Act which supported non market sub prime loans, and Freddy Mac and Fanny Mae would be considered capitalism. Do some research buddy.  America hasn't been a capitalist society since Lincoln.

[mcclansplash]

I think you owe someone your arm then.

[sshapewa]

u fool if it wasnt for ford's private property u would'nt be driving,so go fuck yourself with your socialts ranst!!

[Atrix3349]

health care. This provides for generations who are successively more intelligent, and in better health to work than those previous to them. It's fine to say that when I'm buying a television, the free market should decide the price. But when it concerns the basic needs of people, it's unjust and actually counterproductive in the long run to say: "you cannot afford quality eduction or health care, so you cannot have it." Then you just end up with an undereducated and ill populace.

[toolshed333]

Well I respect your opinion Atrix, and agree that the Scandinavian belief to help your neighbor has a lot to do with the way these countries are run. I also agree that we should help our neighbors, but not through government. Most likely our beliefs differ on the subject of basic needs because Norway is much more secular than America. I would like to see the church and private charities fill the the void here, but if I am correct Norway is not very religious.

[toolshed333]

Also where your "neighbors" are fellow Norwegians not too far away geographically, my fellow Americans are not "neighbors" in the same sense both geographically and culturally.

I hope you don't think I'm disagreeing with you Atrix. I just don't think that the Norwegian system is a system that could be applied everywhere in all cultures.

[Cookinet92]

Long live capitalism! It is better to be rich but unequal than equal but poor!

[Atrix3349]

yeah, we're all starving here in Norway.

[toolshed333]

Well whether you want to admit it or not, Norway has a high degree of capitalism compared to many countries. They practice free trade, and still have private ownership of many factors of production. They scored 23 of 141 on the 2008 Economic Freedom of the World Report published by the Fraser Institute, and also scored well on the Heritage Foundation's index compared to most of Europe and the world as well. Also the fact that you are sitting on a pile of oil helps too.

[Atrix3349]

Well, we have a mixed economy. In comparison with most of Europe we are more socialist, and of course, in comparison with the US we're crazy left wing nut jobs but it would being going to far to call us market socialists. We have a high degree of economic freedom, but we also have a high Gni index and government enforced quotas for equal access to things like educational institutions, jobs, even places for bands to practice. Poverty is low and people are happy and productive.

[toolshed333]

The US is not a very free market anymore. We pay almost 50% of our income to taxes in the form of income tax, property tax, sales tax, business tax, and the multitude of other taxes they create. My point is the high level of well being your country experiences is caused because of the freedoms you have to import, export, own property, etc. Also you have to admit much of your government is funded through oil revenues.

[toolshed333]

Also you should be careful in comparing across countries. There are many factors that play into a country's success other than level of government. Many of those factors are natural resources, which Norway was blessed with, and culture. Furthermore, Norway is a very small country and it would not be appropriate to compare it to countries such as America with entire cities larger than your country. Compare Norway with Delaware vs West Virgina and you would get greater variation differences.

[toolshed333]

My point is that economic freedom has a long proven history of increasing a country's well being. You can show this empirically, as well as with examples. West vs. East Berlin; North vs. South Korea; China vs. Hong Kong; etc.

[Atrix3349]

And I don't disagree with you that free trade generates wealth. It does. But, the most effective system is a mixed economy. Norway got lucky with the oil, but it is not Oil that makes the country itself productive. It's the long held Scandinavian belief that all citizens should share in the welfare of their neighbors. This is true in Sweden and Denmark, though they lack oil, they are highly productive societies because wealth for a long period of time has been redistributed to education and

[blaketrader]

How come anyone can advocate for socialism? Capitalism rules!

[bobsager]

Excellent video and quotes! The reason capitalism works so well is that all transactions are voluntary. If both parties don't benefit the transaction doesn't take place.

[toolshed333]

Thanks for the comment :) I couldn't agree more with you.

[MAGYAR998]

Enjoy Capitalism ! be free forever!

[toolshed333]

Love your attitude MAGYAR998. Any friend of capitalism is a friend of mine.

[enjoycapitalism]

absolutely awesome

[toolshed333]

:) thanks for the comment!

[tutor4011]

great vid will lot of work. lee

[toolshed333]

Thanks Lee. I just thought I'd put my 2 cents in before the American elections across the pond. I don't really like any of the canidates this year though. Now its time to pick between the evils I suppose. Oh well.

[toolshed333]

Thanks for the comments johnbii and KaneFenton4Freedom! :)

[johnebii]

I liked it. The quotes especially. And the pic from Tienenmen Square, great. Good job.

[KaneFenton4Freedom]

I really love the Thomas Paine quote and the Thomas Jefferson Quote. I loved the quotes in it. Awesome. And I like the pictures of Hillary and Barack..lol. The two biggest threats to freedom, success and free market capitalism.

[KaneFenton4Freedom]

Awesome video. So good. It's no coincidence that we're the freest nation and the most powerful and successful. And now when we have become less free, our success and power is falling! THAT'S NO COINCIDENCE! Great video. Adding it to my favorites for sure! Thank you!