Capitalism: Who Needs It (part 8 of 8)

Yaron Brook explains why the free market has taken the blame for a crisis caused by government intervention, and why self-interest and the profit motive make capitalism the only moral social-economic system. This talk provides some hints of why only Ayn Rand's provocative philosophy can make sense of today's events.

Category:

News & Politics

Tags:

• capitalism
• ayn rand
• yaron brook
• american
• profit
• objectivism
• social
• selfishness
• self-interest
• government
• regulations
• laws
• individual rights

[TimeWarp66]

@mkloppel

which guy?

[Dagny1978]

There's only one word to describe this lecture: Brilliant. Thank you, Dr. Brook, for defending these ideas so passionately and so eloquently.

[mkloppel]

Great job Yaron. You eviscerated that guy.

[Psy500]

@tothemax01

It would be good if the process keep going to create a world of abundant utility, yet long before that capitalists pull back as they have a incompatible goal of accumulating surplus exchange value. Thus a world of super abundance is the scariest thing capitalist can imagine as it a world with the whole global market flooded with commodities, yet for the consumer it would be great with cheap products that is if they can still get enough income to keep consuming.

[tothemax01]

@Psy500 So is this good or bad?

[Psy500]

@tothemax01

The opposite in terms of surplus value, we'd be rich in utility but we already are even the lowest paid workers earns enough wages to consume far more utility then in previous epochs yet capitalists doesn't care about that, they don't care they earn so much that can consume more utility then humanity possible they are only interested in accumulating surplus value for the sake of accumulating surplus value thus capitalists hoard their money when overproduction hits them.

[tothemax01]

@Psy500 Profit impossible because we are just too productive so commodities have tiny exchange values... So we are all filthy stinking rich? Wow, if we get anywhere near that, that would be awesome!

[ptfountainhead]

look at all the Americans' that are against the values of capitalism.... the legislators of this country have no clue on the seriousness of our intentions. Good luck big brother.....

[LordVigeous666999]

Its too hard to do this in comments

I have sent a PM instead

[Psy500]

Supporters of the a total free-market seems to ignore the law of value that as productivity rises the rate of profits falls as value of commodities fall to the point on paper eventually there would be a point where profit will become impossible anywhere in the market as the productive forces are just too productive for commodities to have any meaningful exchange value.