Capitalism is Innovative: Innovation Myths—Viki 1999 Debunked @Libertarianach_na

Uploaded August 2020 | Updated September 2026, 2 weeks ago

You'll hear many myths about capitalism, one of which @Viki1999 covers with the usual innovation myths. It is the claim that capitalism isn't innovative and that what harnesses innovation is through the public sector.

As I have argued in this video, it is a black and white argument to say one is innovative and the other is not. Even in the public sector you will find individuals working. As I have noted, however, it is through economic freedom that allows individuals to freely think for themselves which explains why the industrial revolution was such an innovative time period.

There is no denying the fact that there have been many great inventions of the past, even throughout the history of Ancient Greece and Rome and there have been things innovated in the past, however, as I argue, @Viki1999 fails to comprehend that it's not so much people can't innovate in the public sector, it's the inefficiency, for many things in the market you require the information of consumers in order to know what requires more developing and again relates to resource allocation, it all plays back to the economic calculation problem.

You can hear from Viki's argument that she fails to comprehend not only how important business reputation is, but how dependent businesses are upon their consumers. As I've noted, she also fails to comprehend the difference between costs and price.

Libertarian Views Scotty M Discord Server: discord.gg/xgXYmhw

Capitalism is Innovative: Innovation Myths—Viki 1999 Debunked

Second Thought Doesnt Understand Socialism: Part 1

Learning About Hong Kong: Free Market Classical Liberalism with Mike

Refuting Adam Something: Libertarianism vs Fascism

Debunking The Finnish Bolshevik: Truth About Socialism

$Debunking Myths About Capitalism—Why Capitalism is Better Than Socialism In this video I carry out the argument debunking myths about capitalism, again, you hear these arguments commonly by socialists, funny enough, the baseless claims that @Viki1999 makes against capitalism proves why capitalism is better than socialism as the arguments she complains about actually describes that of her own ideology. Its no different to the baseless claim that capitalism is responsible for the expensive costs of goods and services or for why monopolies exist, again, this being to blame on all the socialist government interference in the market. I provided an argument in the past on the antitrust law myths which you can find here: https://www.youtube.com/watch?v=HC9KNt8-T4g You can also check out my videos on the Economic Calculation Problem below. *Profits and Losses:* https://www.youtube.com/watch?v=mVbbFVKWdhI *Extended Explanation:* https://www.youtube.com/watch?v=Zjzofn0qzQ4 This destroys the argument Viki claims that capitalism results in overproduction creating waste and as I have explained, government subsidies that result in inefficiency have nothing to do with a capitalist system. The examples of the 19th-century show the damage socialist government interventionism cause to the economy. Again, socialism creates a problem in the economy and capitalism gets the blame for it. The arguments I have provided, again, describes precisely what socialism turns out to be in practice, which is laughable to say the least given the fact socialists love to target capitalism over such things despite the fact socialism is responsible for the problems. An example would be the soaring inflation caused by the fractional reserve banking, I guess that is the price one pays for opposing the free market (capitalism). This is why capitalism is better than socialism because unlike socialism, capitalism doesnt lead to the 1 percent elite like they claim it does. All the arguments socialists make are all baseless and they never have any credible arguments to fire back with, instead, they merely state something as if based on truth and hope for the best that people fall for it. Just like the erroneous claim that capitalism leads to oligarchy and the few possess everything and command the economy. Again, socialism creates this problem resulting in corporatism, yet despite this fact, socialists like Viki continue to blame capitalism. Maybe if we got the government out of the economy and left it be to the open free market economy we wouldnt have these problems. No one has ever claimed that there would ever be such a thing as an economy without exploitation, corruption, etc, but at least under a capitalist system, it can greatly reduce and limit these problems to a minimum, unlike socialism. Again, socialists claim capitalism results in exploitation, yet they want people to work for absolute no wage to work endless hours on certain tough jobs that are required in the economy, especially dangerous jobs. By opposing the free market economy (capitalism) you are inevitably faced with the economic calculation problem which is something Viki, like all other socialists, doesnt understand. Again, if people are going to critique capitalism, first get to understand what capitalism is first before going on a tirade to make such baseless claims. *Libertarian Views Scotty M Discord Server:* https://discord.gg/kcvG3VD$

“From Nationalisation to Corporatism — How Thatcher’s Britain Stayed Socialist”

Timelapse Photography: How to Stop Light Flickering

Medicare For All Debate: Refuting UZworm on Healthcare Part 2

“‘Private’… But Controlled — Why Mises Said the Nazis Were Socialist”

Taxation is Theft: The Progressive Voice Debunked

Why the Free Market is Efficient: Viki 1999 Debunked