Free Market Capitalism FAILS again

The trap is sprung. Sorry, Lee, but it won't be that easy for you.

WHY LEE'S CHARACTERIZATION OF MY VIDEO IS A STRAWMAN

1. I am a capitalist. I am merely not a free market capitalist. I believe in regulation.
2. I never said that capitalism and trade don't create wealth. I merely had the courage to point out that fraud and exploitation are a crucial element of the money-making process.
3. I never said that it should be mandated that companies share their profits with employees, I merely hypothesized that this was the natural philosophical result of the statement below.

WHY FREE MARKET IS FREE MARXIST:

Free Market Capitalism says we own our own labor:
http://www.econlib.org/library/Enc/FreeMarket.html
". . . in a free-market system, every person has a property right over his own person and his own labor and can make free contracts for those services."
Murray Rothbard,
Free Market Capitalist
Sometimes referred to as "the founder of libertarianism"

THE THREE TYPES OF VALUE:

1. Objective Value/Baseline Value/Intrinsic Value
Value based on "need" in relation to the achievement of sustained physical and psychological health.

2. Subjective Value
Value based on individual perception of value; personal perceptions of value not shared by others (or shared by a select few).

3. Intersubjective Value
Value based on group perception of value; mass perception of value.

Category:

People & Blogs

Tags:

• Capitalism
• Regulation
• Taxation
• Free
• Market
• Ron
• Paul
• HowTheWorldWorks
• Lee
• Doren

[MrMarktheJarhead]

Oh, I see. You're a CHINESE capitalist.

[MrMarktheJarhead]

Ok, I'm confused, are you a liberal or a conservative? Cause you criticize conservatives in a lot of your vids, but you claim to be capitalist. WTF?

[TrystanBen]

@13stevejohnson

True, we need companies to pay their workers more and offer more job positions. As long as consumerism is going very well then our country will grow in economy.

[RandomDrone79]

What happened to the apple?

[themegaradical]

thinking about making a bunch of ghost accounts just to thumb up this stuff, but I would get kicked so neigh

[13stevejohnson]

the locket example is compelling... hmmm

[13stevejohnson]

@WBrizzle81 dude, do you realize how naunced economics is?

[YorkGod1]

it never works

[13stevejohnson]

@TrystanBen dude, its not that simple. you would probably need some type of hybrid system, whatever that my be... its way more complicated.

[13stevejohnson]

@russelpad12 wow, conform or be cast out, rush... hmmmm

[ShinobiDJLive905]

@modplugrad its already illegal... we are living in a day of age where laws that are on the book are not being enforced.

[modplugrad]

@ShinobiDJLive905 Make it illegal and penalize them with prisontime

[ShinobiDJLive905]

OK Then... Please answer this.

In any kind of Capitalism (besides Free market) how do you prevent Corporations from lobbing politics? How do you stop them from giving government hundreds of thousands to millions of dollars to make policy that makes it harder for competitors to work they'er way up and compete or even to strip us of our rights?

[WBrizzle81]

hmm...looks like you've found a worthy intellectual competitor, took you 23 min to defend yourself, and your ideas, as opposed to the standard AA 10-15 min norm. Even after your heartfelt defense, he still landed a few punches. Good job defending yourself, but it wasn't the typical TJ pwnage, jussayin

[J45USER]

I love Marilyn Manson!!!

[theredscourge]

"fraud and exploitation are a crucial element of the money-making process" When I go to Wal-mart, one of the biggest "evil corporations", I do not go expecting to be defrauded or exploited, and I never have been, so this is probably incorrect.

If by exploited you are referring to foreign workers, then realize that whenever you say jobs should stay here, you are exploiting the foreign workers yourself by wishing to leave them unemployed merely so that people closer to you can be employed instead

[theredscourge]

"we own our own labor" says the description of this video. Yes, you do, but you do not own anything of anyone else's. If you believe you do, you are wrong. If you believe that fraud or evil are abundant, and you believe that regulation is necessary, but are nieve enough to think that regulators are safe from corruption, you are wrong. Since the corrupt are drawn to power, we ought to minimize and eliminate government power. Make all decisions be voluntary and by the consumer and worker.

[37712]

@russelpad12 don't know if you noticed but he gets a fairly decent amount of money for being one of the most watched channels on youtube he does not really have to work for a living =(

[russelpad12]

If the entire world were like you our problems would all be gone.....We could all live in our parents basement,be fat and lazy, never get laid, argue on the internet, and eventually contribute little to nothing valuable to society. Why don't you fix your own problems before you save the world. Lose 100 pounds, get a girlfriend, a job and ppl may take you seriously.

[TrystanBen]

Look at capitaliat countries compared to communost countries. Despite republicans being idiots, free market works. I am a liberatarian, and I think it is very hypocritical that you are promoting selling your book and arguing about capitalism.

[RealityChecker77]

@KyleClarkUSA

Exactly. The more government regulations, the worse off the economy. We want regulations from the free market.

[cr4yv3n]

@flyboy535 He didn't say he isn't using the system - just that he doesn't agree with it.

There's a difference.

[KyleClarkUSA]

@IseeRightThrough2you Seeing that Norway is not part of the E.U and has one of the most relaxed regulations in the area no wonder its a success.

[flyboy535]

You bash the free market system and yet your selling a book? Can you say hypocrite