Libertarian Scot
Monopolies—The Antitrust Myths
updated
Many of the problems I have addressed, which is to say that his claim that it is so "non-specific" doesn't make sense, as we have been very clear of the problems regarding our economy today, you can see that from governments interference on many fronts. One such example I left out were the government subsidies that resulted in hundreds of private companies facing bankruptcy. You could see this with the 2008 financial crisis as that was the reason for the legally protected fraud that occurred.
It's all well saying that he looks for solutions and wishes to fix the economy claiming today's system is broken, heading for collapse, however, as history has proven, he most certainly will not get that by not only opposing capitalism, but by supporting more socialism that what was responsible for our economic mess today.
The likes of Gary Stevenson (Gary Economics) think that the welfare state, social security and all that "free stuff" somehow had no dire effect on the economy. Just like that of all the climate change nonsense, they pressured governments with those policies and the economy faces dire consequences. They are completely blind to that of their own actions, which is catastrophic to say the least.
Argentina has suffered at the hands of socialism for more than a century-long period, isn't it funny how these type of characters grow in popularity where people have suffered the most from the devastating impact of socialist policies, yet, here in the West you have smug arrogant socialists thinking they know better about socialism than those who have lived the true face of it.
Javier Milei is quickly growing in popularity and isn't any ordinary political figurehead, he is arguing favourably for not only decentralisation of money and banking, but the abolishment of the central banking system. That to me is a breath of fresh air, it is exactly what the world needs, more of Javier Milei who understands the fraudulence of the central banks and the corrupt system. He also strongly favours true free trade and if the Argentinian people vote him in, it will be a country to keep a close eye on as it will quickly grow to become the fastest-growing economy, not only in South America, but the world.
Whilst I don't believe all socialists are of ill-intent, many of them are just gullible and don't know any better, but there certainly are a kind who Javier Milei is describing who would want you dead, especially those who label you wrongly a 'fascist' or 'nazi,' they would justify your death in a dictatorship.
Socialism has led to nothing other than extreme poverty and caused the deaths of countless millions of people in the past century alone, every country it has touched, it has caused widespread devastation. It is for this reason Javier Milei deserves his own video right here dedicated to a freedom fighter, as the world certainly needs more of him and less of the tyranny of the likes of the World Economic Forum and Klaus Schwab.
Whilst Schwab and his minions will falsely claim capitalism has failed or that you've somehow been living in a capitalist system, nothing could be farther from the truth, but hasn't stopped brainwashed people claiming that ULEZ and what Klaus Schwab pushes for is somehow capitalism, when in reality, it's anything but.
I find the videos interesting, however, what irked me was the people they would ask were mostly all on the political Left of the spectrum. As I have mentioned, one has to take social media and the mainstream media with a pinch of salt because they can give a false perception of things, especially when there will be many other European people out there who would disagree with the views of the people in this video.
You will typically find one of the stereotypes is to do with guns and many of the responses I watched on other videos would speak heavily critical of it, whether Americans doing the response videos, or the Europeans being asked the questions in the initial videos. I felt it was one of the important topic issues I would briefly address as none of them would mention a thing about the No Gun Zone Act passed in 1990, all that is mentioned in other videos is about the mass shootings.
Bear in mind that the stereotypes you come across and even for what I've mentioned doesn't necessarily apply to everyone, they are generalisations, some tend to be true to a varying extent, but the U.S. is a big country that holds a wide variety of different people, whilst I can't tell you about the difference in culture over in the United States as I have never been, I can certainly say historically Europe is very different. The United States foundations was built on a political union and also built upon being the 'land of the free' and 'land of opportunity.' As argued, I believe much of that has been destroyed as that saying was based off the U.S. foundations of being capitalist.
David Cross of the Gravel Institute makes a lot of reasonable arguments about American healthcare, however, doesn't seem to understand the consequences past the face value of the "free" healthcare here in Britain, nor does he seem to comprehend the reality of the Scandinavian countries.
The crux of his argument falls apart based on the fact that the main American healthcare market is anti-capitalist and since government is the cause of the problems relative to the costs and overall inefficiency, the solution to the problem is to remove government from the economy and healthcare, not to cry out for more government.
I have seen numerous people responding on 'why America sucks at everything' and it seems they typically agree with the points David Cross makes, but are they aware of Direct Primar Care, do they actually know the reasons behind why the American main healthcare market costs got out of control? The answer to that is, no.
Time and time again I have seen this argument pop up relative to American healthcare and is a shame I feel like I'm repeating myself, but how can one help that when the same arguments are being pushed out there time and time again.
An explanation into the differences between the United Kingdom and Scandinavian economies, explaining why the Scandinavian countries improved their economies, what is harming them, why they are different to the U.K. economy in correlation to why it contradicts many of the Scottish Nationalists.
In this video I briefly touch upon Hoover that gives you an insight that he was anything but Laissez-faire at that time, as well as addressing the myth surrounding FDR and unemployment. The statistics provided is in plain English, for sources of those 3 tables, you can find them here:
• source: U.S. Department of Commerce, Historical Statistics of the United States (Washington D.C.: U.S. Government Printing Office, 1961, 73.
• source: U.S. Department of Commerce, Historical Statistics of the United States (Washington D.C.: U.S. Government Printing Office, 1961, 139.
• source: U.S. Department of Commerce, Historical Statistics of the United States (Washington D.C.: U.S. Government Printing Office, 1961, 179.
It is also important to note that the reason for why unemployment fell slightly down to 14.6 percent by 1940 it was because millions were conscripted into the military to fight abroad in the Second World War. Hardly an argument of job creation and no mention from the boy about the 'Roosevelt Recession'.
You could see from FDR's monopolistic policy of forcing prices up through restricting productive output was harmful, but the boy quickly skipped around that, rather quite convenient given the same socialists harped off about how evil the so-called 'Robber Barons' were claiming they drove prices up to shaft the consumer, even although such information is false.
You can watch Tom Woods full video here:
youtube.com/watch?v=S6jYIOzm5Mg&t=82s
And here are some sources that illustrate the failure of the $15 minimum wage proving what happens as a consequence of trying to argue with the laws of supply and demand:
• fee.org/articles/real-world-examples-of-how-the-minimum-wage-harms-workers
• fee.org/articles/ontario-s-minimum-wage-hike-has-been-disastrous-especially-for-disabled-workers
• fee.org/articles/the-costs-of-nyc-s-15-minimum-wage
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In this video I explain briefly on profits and losses, the importance price signals play, why inflation benefits the rich, as well as the malinvestment problem created through the Catillon effect.
If you have trouble understanding, market-driven prices would only drive up the price of whatever the consumer is in demand of in a free market, whereas inflation drives up the price of more or less everything which includes such goods the market wasn't initially in demand of, therefore, it distorts the signals and the higher price makes it appear that such goods are in demand, when in real fact it is the illusion inflation created.
It is a direct consequence of this for why malinvestment takes place, not only from those getting a hold of the newly created money first spending to compete to take what is currently out to reallocate resources, capital and labour, but the distortion inflation caused in of itself, which explains why the economic calculation problem doesn't just occur via government price controls and is natural to this mixed economy.
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I've long argued before and only briefly touched upon it in this video that identity politics from the Left crept its way in mixed with the cancel culture whereby everyone remotely to the right of communism have become a symbol of fascism, nazism and white supremacy, which is a very dangerous game to play.
As I have argued, this woman is more or less implying anyone who dares to think for themselves and fights for liberty with intellectual arguments are to be treated with the most utter contempt and prevented from ever having a job.
This view really is akin to something you would expect from dictatorships like that of the past such as Nazi Germany or the Soviet Union where censorship was akin to Twitter former employees. I suspect she has lost the plot since Elon Musk's takeover, which is quite amusing, even the Twitter employee claiming that we're somehow 'Nazis' for supporting freedom of speech and acknowledging biological facts.
Something these people simply do not understand, and especially in response to her sarcastic patronising tone, is that economic and biological facts don't care about her feelings, neither subject does for that matter. People don't say things to be nasty, but facts are facts.
I suspect she was fired from her position, which wouldn't surprise me as such a job would require treating all customers with upmost respect and not telling people that you 'hate' them just because they think differently.
We saw the danger of the cancel culture with the likes of the Free Speech Union having been cancelled out by Paypal, there was also talk in the past about Squarespace cancelling out websites which didn't subscribe to their political favour, partly a reason for precaution I began working towards getting my proper business site built from scratch on my own server on Hugo.
Such division does nothing to help matters, whilst I may passionately debate such issues, it is socialism which I hate, I'm not going to sit and say I hate people just because I disagree with them, much like Vaush, I'll never understand him, but deep down I see him as a person who I'd wish the best for like anyone. People often wrongly confuse such a passionate debate with that, which is fair enough, people often take from face value.
My Libertarian perspective on the entire thing is that it is very silly of her to have such a view and hopefully she has learned her lesson. I'm not even please for her losing her job if that is the case, but it's the harsh reality. I personally from my perspective fight for freedom because I wish the betterment of the economy for everyone, I don't just do it for myself and that's what splits me apart and other Libertarians and true conservatives from people as divisive as that.
I experienced enough division here in my country Scotland due to the independence referendum, but since then the dust has settled after years and my pride and love for my nation has slowly crept back in and I'm not about to let such divisive people change that for the world. In other words, I believe a free society is the only thing which can sow the divisions that exist, take Ireland as a prime example, only liberty can people put aside and peacefully coexist.
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Freedom has nothing to do with slavery and as I've stated numerous times before, you cannot for the life of you take away the freedom of an individual to owning their own property, nor taking away their individual rights only then to pretend you stand for liberty. The fact Vaush goes as far as to completely negate the fact you have the freedom to up sticks and leave a company tells you everything.
His argument that the business owner has total control ignores the fact it is his private business, that's a bit like walking into someone's house and trying to dictate to them in their own house how they should live or what you can do. As usual, no concept of private ownership. Also, without private property rights it is impossible to have personal ownership of possessions, it's the private property rights that outline and define what you own, a fact socialists seem to think they can bend to redefine the entire meaning of socialism because they know that to concede to communal ownership and central planning is the indefensible.
You cannot on one hand claim you stand for liberty, only then to try and control people and try to take away their freedom of their own rights and what they can or cannot own. Even his argument of positive freedom is erroneous, collectivism is a contradiction of everything freedom stands for, the attempt to try and create the equality he dreams of ends up creating the opposite, but more importantly requires control which is the antithesis of liberty.
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Whilst Viki1999 uses the present day in reference to child labour, there is correlation to the past, such as the poorer countries who are having to go through their own industrialisation to get to where we are today. Viki's assumption is that they can just go from A to Z overnight and it's the fallacy of staring at their living conditions and wages and then erroneously comparing that to our own.
As I've addressed, capitalism even within this mixed economy, has been the driving force for the improvement of the workplace relative to wages, workweek hours, safety, etc. This changes the face of socialists arguments, especially what Viki1999 tries to claim. Viki has attempted to redefine the meaning of child labour to solely fit around dangerous industry and children forced against their will, problem with Viki's argument is, however, you don't get to just change the meaning of child labour to suit your own agenda whenever it suits.
The truth is, there are many safe industry today children are more than capable of working in, especially when it comes to computers doing graphic design, programming, etc. The reason Viki tries to exclude all of that is because it flies in the face of the argument Viki is trying to make.
Viki1999 concedes that poverty is the main driving force for child labour, but then ignores that those countries suffered at the hands of socialism. Her solution to get rid of capitalism in of itself, as well as thinking that more money would somehow solve the problem not only proves Viki doesn't understand inflation and where it derives from, but also that she doesn't comprehend why such an attempt to get rid of the private sector would lead to economic disaster, which I've touched upon many times before.
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Yugopnik illustrates this with his ignorance of what profits are, he merely views every transaction as a one-way street, as if the consumer is not a beneficiary of transactions only looking where the money goes. Like I've pointed out numerous times before, profits and losses are two of the most important pieces of information required for understanding consumers needs and wants.
Without him going into detail, you can tell what his so-called solution is, which would end in catastrophe. Like I've noted before, it's capitalism in this mixed economy that made all this technology possible and as for the Soviet Union, it got all of its technology from the West.
Without capitalism, relative to the previous argument I made on inflation, you'd be faced plunging toward hyperinflation and if he argues for a moneyless based economy, that's just as bad, that would prove he doesn't comprehend the need for money in order for trade to take place, as well as the requirement of price information signals to convey what consumers needs and wants are.
Game designers have a tough job trying to please people given that they can only go by what people are spending on. They also know that it is very difficult to please everyone, like the Assassin's Creed series, there are those they will please and others they will disappoint.
Perhaps Yugopnik has a reasonable point on some issues about production time and repetition, but I think that may have more to do with the available technology today, such as the power of the average consoles and computers, as well as the larger the games are, the greater the memory they take up. Therefore, comparing a game the size of Odyssey including all expansions to previous titles, the larger games would take up a lot more memory. I would imagine the more powerful technology grows, the more flexibility game designers will have in game design.
He assumes that game designers merely put out quantity over quality, as if that's their sole concentration, but such an argument ignores that in order for you to make more sales on those type of games, you have to provide some quality at least. Assassin's Creed Valhalla I thought was a high quality game, but there were the critiques talking about repetition, etc. This is the point, you're not going to please everyone.
It's also important to note, businesses need to try and produce quality to some extent to make sales, it's not a case where they can just completely bat it aside and then guarantee sales. Clearly they make sales from games they're putting out as people are willing to pay for them.
All that being said, thinking that moving towards a strongly socialist based economy is going to fix all the imperfections is simply ludicrous, not only would you end up with your economy decimated not being able to afford anything, you'd destroy the incentive for innovation and productivity.
You can check out my argument on profits and losses that correlate to the economic calculation problem here: youtube.com/watch?v=mVbbFVKWdhI
His argument is really just a repetition and I don't find it a rational critique of capitalism at all, especially when he doesn't provide his so-called 'solutions'. I found myself reading many of the critiques on recent Assassin's Creed games and if you want my honest opinion, the critiques are overboard and I feel like today's young gamers have become so pampered and spoiled. Whereas, someone like myself who came from an age where we had Amstrad computers with graphics that were 10 times worse than Playstation one, where you literally had to type "Run Badcat" to play games, these young ones cannot see how good they have it.
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In other words, people like MeidasTouch, or Katie Porter and the guy she was questioning, for that matter, do not understand that the cause of inflation is not merely corporations or businesses earning profits. Again, a cause of inflation is not the same thing as prices rising from what inflation causes.
So what causes inflation, what does inflation mean?
Inflation simply means the quantity of the monetary supply has been vastly increased far above and beyond the quantity of the goods in the market that it is chasing, which is why $1 was equal to the value of 1 product in 1913. Through the vast increase of running the printing press, not only did this cause the currency to devalue in purchasing power, that's what causes prices to increase.
So inflation simply means that there is more of the monetary supply in circulation of the economy over that of the quantity of the goods that are produced. In other words, money is of no exception to the laws of supply and demand; print more, the less scarce the paper currency becomes, the less value it holds. That's why wages are rendered almost worthless and people find themselves working 2 to 3 jobs to make ends meet, not because you have "greedy" companies.
Whilst I acknowledge there is a problem with today's economy littered with monopolies, oligopolies and cartels, that we currently have corporotocracy both here in Britain and in the United States, which is a latter stage of corporatism, it doesn't change or hide the fact that corporate profits has no bearing on the price or even what inflation is, or what drives inflation.
MeidasTouch I have come across before through someone I will keep private and is quite a reasonable sound minded guy, I think is involved in investment? Not sure, but the fact he fails to comprehend inflation is quite astounding to me, but more so the likes of Katie Porter, she clearly hasn't got a clue and it sounds to me like she's targeting that business guy over how much they're earning in profits, as if to blame that for the cause of inflation.
I've never seen something so ignorant in my life, and if blaming inflation for the wrong thing, it proves that they are not tackling the root cause of the problem, they aren't providing any rational solution.
Given that social security and the welfare state cost a bomb and the taxpayers money is nowhere near enough to pay for either and the country has been running the printing press for years, then facing the banking crisis with all the bailouts of the banks resulting in inflation soaring, only then to lockdown the economy in 2020 with a lot of private companies closed for a year being furloughed, is it any surprise why inflation is so far out of control?
I fear the worst, because this proves when MeidasTouch puts out a video and gets 8,000+ likes for proving none of them understand inflation, we're in deep trouble.
As for socialists!? Good luck trying to combat inflation via nationalisation, the more you nationalise, the smaller the pool you have to tax from the private sector, and if you heavily nationalise like here in Britain had prior to Thatcher, you're forced to pay for a heavy bloated public sector via the printing press. Why else you think Thatcher was left with an ultimatum: sell the oil industry to save us from hyperinflation, or face the consequence of hyperinflation as a result of the damage socialism caused? Now you know why Thatcher took action as she did. Those who hated her were those who don't know a single thing about economics.
You can watch his video here:
• youtube.com/watch?v=0ixmqzjvb7k
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Robert Reich thinks it's a case that wealth is increased consumer spending, like all socialists, they don't understand that spending what you don't have and pushing yourself into soaring debt never solves a problem and is why we ended up in this mess to begin with.
The reckless borrowing and spending to pay for all the social security and welfare programs, etc, has more or less caught up on people. Like I argue, there's only so much you'll get away with borrowing out of thin air for what didn't exist in the first place. As I've touched upon, the lockdowns merely accelerated the recession and has been long coming because of the reckless Keynesians.
Keynesians much like Marxists really don't like being told that we must live within our means, which is the reason Robert Reich hates the thought of raised interest rates. I've touched upon before in the past on the banking crisis of 2008 for why the artificial fixing lower of the interest rates caused the boom and bust cycle, all Robert Reich would do is exacerbate the crisis, after all, the more spending will come from the continual running of the printing press.
These are the same people on CNN who would wish for universal healthcare, they would essentially bankrupt the nation, which is quite convenient the likes of Reich claim to protect the poor.
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In this example, as a result of the corporatist system and government over-regulating the private sector, the government is the culprit for harming business innovation, especially with such things like quality and quantity controls, etc.
Nonetheless, like I have pointed out so many times, living under a socialist economy, you wouldn't have any freedom, you'd be living subjugated to slavery to that of the central planner who would dictate everything. A reason I have provided my own person argument relative to Scottish history is because Scotland was a very innovative, influential nation on the modern world, yet, as you will see, the impact Scotland had on the modern world didn't come until the mid 18th century, by his logic, Scotland would have been just as innovative, if not more prior to those years.
Whilst I may not hold the knowledge of where technology comes from as he could may well be right about specific things, it is important to do independent research rather than just accept what he says as gospel, even then, the following articles I will provide you should be able to read with an independent mind to make your own mind up.
Much like the Soviet Union as I pointed out, they got all of their technology from the West as they were being financed by anti-capitalists in the likes of the United States. His claims about governments financing things, however, are questionable, even then, trying to claim that voluntary action of free thinking individuals producing open source code is somehow socialism is laughable to say the least. Just because someone is not done for the sake of money doesn't mean it isn't part of the market, markets provide free services just as there is paid content.
Again, even the argument relative to the internet is erroneous as it wasn't the government who made it widely accessible to the masses, but that of the market. The article I illustrated outlines the argument creating an important distinction which I think people should read and make their own mind up.
Don't Thank the Government For Your Iphone:
• fee.org/articles/dont-thank-the-government-for-your-iphone
The Hidden Hold Up to American Innovation:
• fee.org/articles/the-hidden-hold-up-to-american-innovation
This following article illustrates how lobbying harmed Apple, thus Apple isn't the fault for producing cheap quality charge cables. This correlates to Second Thought's erroneous claim as if businesses are just out to get you for profits. This article illustrates damage caused via government intervention, again.
This is the Real Reason Your iPhone Cables Break:
fee.org/articles/this-is-the-real-reason-your-iphone-cables-break
This following article backs up the original from FEE and makes the solid point that if not for the private sector taxpayer, government wouldn't have the money to finance and is not a wealth creator either, the Mercedes example sounds all too familiar, much like how government is trying to force the market onto electric motors, but most people wouldn't be able to afford that.
Capital Accumulation, Not Government, Key To Technological Innovation:
mises.org/wire/capital-accumulation-not-government-key-technological-innovation
Again, you can also check out my argument on the economic calculation problem.
• Economic Calculation Problem: Profits and Losses.
youtube.com/watch?v=mVbbFVKWdhI
• Economic Calculation Problem: Extended Explanation.
youtube.com/watch?v=Zjzofn0qzQ4
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As per usual he is yet another who spouts the usual nonsense about the gilded age, surprise, surprise; a believer that somehow the likes of Carnegie, Rockefeller, Stanfords and Vanderbilts were apparently these evil monopolists who sought to shaft the consumer. Of course, none of this is true and the only people who believe that to be true are those who have no clue about the history to see how wrong it is.
Even the claims Current Affairs make regarding the so-called dangerous concentration of wealth by today's standards is overly exaggerated, whilst there are problems today created by corporatism, he attempts to pass this off as the fault of capitalism. The typical example of socialist government intervention creating a problem in the market and then projecting the blame off onto the market.
A fine example for this you can see from his argument relative to healthcare, as if to claim that the fault of private pharmaceutical companies driving prices up to shaft the consumer was to blame on the market, even although government intervention created the problem.
The fact he thinks he can replace a system involving profits and losses with "solidarity" should be enough to make you laugh. If you wish to learn more on this topic issue, you can watch both my videos I explain on the economic calculation problem relative to profits and losses and the fuller explanation on the economic calculation problem itself.
• Economic Calculation Problem: Profits and Losses.
youtube.com/watch?v=mVbbFVKWdhI
• Economic Calculation Problem: Extended Explanation.
youtube.com/watch?v=Zjzofn0qzQ4
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A common misinterpretation of individualism is the perception people have where they think it means every man for himself and that collectivism somehow means people working collectively together. You can tell this particular individual hasn't a clue about collectivism when he erroneously correlates collectivism with consent relative to individual choice, when in reality, there is no such thing as consent relative to collectivism.
Throughout every regime where collectivism has existed, the result has been the same. Even failed attempts at so-called 'Libertarian Socialism' quickly descended into a reign of terror, whether it was the military dictatorship in Ukraine's so-called 'free territory,' or the 'Paris Commune' where mobs attacked private businesses through terrorism, or even Catalonia that saw committees acting as a government set out to terrorise those who wished to have nothing to do with it.
As I have pointed out, socialism is coercive and there is no such thing as socialism without coercion. It is very clear of what both definitions of collectivism and individualism mean and to try and correlate capitalism to collectivism is more or less saying that capitalism is a branch of socialism as the word has more or less the same meaning as socialism, it is why socialism is listed as a synonym for collectivism in practically every source you could find.
It is a very clear attempt, on his part, to try and correlate capitalism to corporatism, which he is more or less trying to argue that there is somehow the best of both worlds between individualism and collectivism. I didn't go into too much detail on the healthcare issue, but I said enough, you can find my arguments on American healthcare costs, the Direct Primary Care on my channel which provide adequate information.
This particular individual of Current Affairs seems to think these elements of collectivism somehow worked and given the fact I was born and raised in a country with the British NHS, I can safely tell you otherwise. Supporters of the NHS flat out deny reality and facts and even contradict themselves when you do point out the failure, they just use excuses and say: "Well, it's failing because [insert excuse here...]"
Nowhere could he justify collectivism, not from a moral perspective, or economic. It's the very reason why mixed economies are unsustainable, it gave rise to all the monopolies, oligopolies and cartels and could never rival a free market in a month of Sunday's, especially on things like fire service, healthcare, education, etc. Of course, such people erroneously think the main American healthcare market is somehow free market when it isn't.
His failure to comprehend that capitalism is all about free and voluntary exchange. He fails to comprehend the contradiction because collectivism is about collective ownership of the means of production and communal ownership of property, that means it cannot possibly correlate to capitalism because capitalism is about private individual ownership of property and private property rights.
He attempts to correlate fascism to that of individualism or capitalism for that matter. Again, I could have gone into detail, there is a colossal difference between capitalism that is all about the market being left be to regulate itself compared with fascism that involves the state strongly regulating the private sector. Cite the book 'Vampire Economy' that clearly illustrates that. As Mises argued, it was private in name only, when referring to fascism of Nazi Germany.
He doesn't comprehend that what differentiates collectivism from individualism is that under individualism, the individual is the primary element of the economy, whereas collectivism, the state becomes the primary element and the people are subservient to the state. Therefore, there is nothing remotely capitalist about fascism as it is centred strongly around a level of economic central planning, which defines socialism, as well as the political centralisation, again, defining socialism.
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Update on the power struggle in China and why my friend Mike feels that Xi may not continue as leader of the Chinese Communist Party.
Having read through an argument I recently received, I was influenced to do this response. I also had a friend with a very similar argument, therefore, I decided to take that particular argument to put across my point on the Anti Capitalist mentality and how deeply flawed their arguments are refuting the mixed economy.
To be fair, this particular article wasn't written by someone claiming to be against capitalism, however, it is very clear that whoever typed it out doesn't understand capitalism themselves. Much like I pointed out before, this isn't just a problem among Marxists, it's a very common problem amongst the so-called 'conservative' movement.
It is worth noting that I honestly hadn't read this RationalWiki page before hand, instead, I went straight ahead and read it from scratch, but isn't it funny how I could predict where things were going with the usual rhetoric about how things would lead to an apparent 'dangerous concentration of wealth in the hands of the few' or the usual if left unchecked all these monopolies would spring up from everywhere and that the person who posted the RationalWiki article on capitalism probably believes in the myth of the Robber Barons?
Well, it sadly turned out to be true and only serves to prove the point of how predictable these people really are. They haven't a clue about capitalism and are completely irrational for even attempting on any level to associate capitalism with that of collectivism because that is essentially what these people are doing by trying to remove capitalism from individualism to any extent. After all, you don't see people being forced into a collective group forced to subsidise the losses of special-interest groups like you saw in the lead up to the banking crisis for nothing, you saw that because collectivism is present to some extent, it's a mixed economy.
It is sadly people like this who "claim" to support capitalism, but it's their hindered belief that government must keep things in check that inevitably led to the rise of the monopolies, oligopolies and cartels. Perhaps if he mentioned about low levels of government regulation, I would excuse him, but even then, spouting rhetoric that in the absence of government intervention about the myth of the Robber Barons, really!?
Sadly, these are the places all too common for such ignorance to flock to for their information on capitalism, thus the reason I felt like refuting such nonsense.
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Many people fail to understand socialism, the basis of what defines socialism is economic central planning, political centralisation, collective ownership or control of the means of production and state direction of the economy. Of course, socialists will invariably tell you that socialism is anything other than what the real world shows, therefore, they will attempt to define socialism purely around theory.
As I have explained, there are many things which contradict their fallacious claims, especially when they attempt to liken socialism to decentralisation or even personal ownership of possessions. The aim of this video, rather than going into the definition of socialism, which I've touched upon before, it's more so to give you an understanding for why socialism inevitably leads down the road of hell.
Many people claim socialism doesn't work and understand it's a failure, but I don't believe many comprehend the reasoning. In this video on socialism for beginners I explain the issues with their moneyless economy theory, as well as the fault even if they support having a monetary based economy. Regardless of which position they stand, they are doomed from the get-go.
There is another reason socialism is catastrophic, but like I've pointed out in my video, going into explaining the economic calculation problem is something which would expand way beyond this video, you can check out videos I have done in the past on that topic issue that I've playlisted on my channel.
Like I explained, the inflationary problems, to the price ceilings that follow, socialists lead themselves to their own demise and instead of taking responsibility for their own faults, they simply seek to make up excuses for socialism and project the blame off elsewhere. Like I've pointed out elsewhere, many of these socialists place their ideology above anything and everything, therefore, there is no reasoning with them no matter how many facts they are provided with or how reasonable your arguments are.
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I have already covered in numerous videos explaining why socialism fails, such as on the economic calculation problem, so you can easily check those videos out.
This is just a basic argument for those who may not have seen my other videos. Why socialists still exist is because it really is a cultist ideology. I don't direct my videos at those type of people, but for those who are willing to learn.
Socialists live purely off the basis of theory, therefore, they reject all reality and as illustrated by Viki 1999, she thinks it is about what they "want" rather than acknowledging what is put into practice. Her definitions alone are typical, everything twisted to suit a narrative, but she, along with all the other socialists, don't even understand what socialism is. Like I have argued numerous times before, they attempt to redefine socialism and end up contradicting everything that socialism stands for.
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Influenced from a previous YouTuber who made a comment regarding a game that influenced clearly had some influence on him to speak about a so-called evil greedy capitalist who would hoard all the money for himself, it is unfortunate that no matter where you look in this world, whether it's news in the mainstream media, the entertainment industry from films to music and even the gaming industry, the anti capitalist mentality is everywhere.
Although such games and even films may point out that such events may be fiction, like the Assassin's Creed series, they do mention that the views aren't held by everyone within the organisation and there are a mix. Although, it must be said that even for many things based on fiction, certain things do have an influence on people. To my belief, due to how popular the anti-capitalist rhetoric is spread about the industrial revolution, I don't think the image they painted in Assassin's Creed Syndicate of children being slaves to so-called evil capitalist factory owners was intentionally fictitious, instead, influenced from what they believe happened in history.
I personally loved all of the games in the Assassin's Creed series and many may fall into the trap of thinking the order are symbolic of capitalism in the real world, in truth, the story depicts the Assassin's fighting for liberty against socialism.
Assassin's Creed Odyssey illustrated this best and was arguably my favourite of the series, purely because of the story of Kassandra was amazing and such an emotional journey, something which would be amazing to see is her story being turned into a film as it would be out of this world. Although the ending leaves a lot to be questioned as there's clearly more to her story, one thing that really stood out at the end of Atlantis is symbolic of the real world, that no matter the control by the ISU in Elysium or even Atlantis, people are always uncontrollable and that the events of Atlantis would play out with the same ending every time.
This paints the perfect picture of the world we live in today which you can see people rebelling against such attempts of control since the pandemic lockdowns, but in general, it paints the picture of socialism that has failed over and over and no matter how often it has been tried, it ends with the same result.
The series of games has had me gripped for the storyline, including Valhalla even if the main character is not based on one of the assassin's, but I feel these games epitomise a reflection in some ways to the life we live in and love the connection they've had implementing historical places and some historical accurate events that has put much together.
I look forward to many more hopefully in the future. Overall, you're unfortunately going to find the anti-capitalist narrative everywhere, which is quite convenient given that, although we don't live under a capitalist system, it was capitalism that has made all their consoles, computers and games possible.
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In this response I decided to respond on a particular comment I received, the typical anti libertarianism with the usual anti capitalist nonsense. The funny thing is, everything he proclaims to stand against, he is essentially supporting by upholding a mixed economy. The argument he makes regarding "evening the playing field" doesn't make rational sense as the mixed economy has done anything but such a thing. This common argument based on equality isn't just something you find with Marxists but many of those who value the mixed economy.
As I have pointed out numerous times before, there is a colossal difference between the protectionism of corporatism and that of capitalism and perhaps I could get around to doing a video in particular on that subject illustrating the differences. It is important to note, however, free markets are not the cause for why corporatism exists, you can't blame the freedom of a market for the fault of government intervention even if someone tries to claim it's the natural state. To justify the fault, which is government intervention, is to basically support the causal effects. Having freedom of the market FROM the state's interference isn't the problem.
Again, much like Marxists, his claims are baseless, whether it's on monopolies, the dangerous concentration of wealth in the hands of the few, or what equals things out. As history has proven, nothing even comes close to free market economies for opportunity and lifting the masses out of poverty, the world's most successful economies as I've pointed out numerous times before were the likes of Hong Kong, Singapore and even Sweden for a period when they were free markets.
The absolutist mentality these people have where they assume that if something isn't exactly 100% then that must mean it either does not work or that free markets don't exist. It's such a myopic overly simplistic worldview of economics and political history, the world doesn't work that way.
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It should not surprise you that a socialist would tell you not to support such protests, he would quite happily see them subjugated to state violence by a communist regime.
Nonetheless, enjoy the response!
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This sadly seems all too common today, all because they have been fooled into believing that the United States is somehow a capitalist economy. Way too many with the usual anti capitalism mentality do not understand what capitalism is to begin with, you can even tell this by his mere mention of corporatism without him realising it, then harping off about war and the problem big government has caused.
Much like all other socialists, his view even of socialism is based on nothing other than idealism. He mentioned about socialism being about workers ownership in his original video despite the fact it has never existed and never will exist. Even then, the belief that somehow turning toward universal healthcare thinking that will somehow solve the issue to do with neglect, an all too common foolish belief, it just shows you how ill informed these people are and are completely unaware of the United States secondary healthcare market.
The usual anti capitalism rhetoric is all too popular and you'll see it permeate all forms in the creative industry, whether that is in games, films or even art, one such examples was Assassin's Creed Syndicate, although there is part of a mention of fiction, there is the mention of a mixture of views within the game designers and is obvious the mainstream lies relative to the history of the industrial revolution clearly influenced them as you can see within the game it's all about two characters being the so-called saviour of children from so-called evil capitalist factory owners. No wonder people end up so brainwashed.
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A response on capitalism relative to monopolies, privatisation, regulation, etc.
In my argument, whilst his argument may sound reasonable regarding the Ford Pinto example, he ignores the principle of it that the consumer should have the freedom to choose. If anything significantly reduces the death toll on the roads it would be down to a free market as Kyle Kulinski completely overlooks the problems created through government mismanagement.
In this video, I point out the reasoning for such government negligence, which you can see from the potholes, etc and why private roads would improve due to the risk-reward nexus. This correlates with the argument on the Ford Pinto as it would significantly reduce road accidents.
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In this video I covered briefly on the myth of perfect competition; the flawed argument of healthcare being inelastic; the failure of universal healthcare and why using the main American healthcare market today is a very poor example to try and critique the free market in healthcare.
As I have addressed many times before, there are two healthcare systems in the United States today, one being the main American healthcare market, which I've addressed before covering why American healthcare costs so much, you can check that video here: youtube.com/watch?v=SHR7FlRrhAU
You can also check out my other video where I cover on the Direct Primary Care model: youtube.com/watch?v=V-c2uPAoh4Q
Having firsthand experience of the NHS, born and brought up in Scotland, a 5 million populated country, I can tell you that universal healthcare is not all that is cracked up to be. Whilst other universal healthcare systems in Europe may not be performing as bad as the NHS, such healthcare systems are still outlined with similar problems.
Like I've argued numerous times before, without the information of profits and losses, there is no possible chance for anything to operate efficiently, especially ShortFatOtaku's argument of price regulation to price cap profits, as he puts it. Not only would this result in widespread shortage problems, again, it misallocates resources and as I've proven, healthcare is most certainly not inelastic and cannot escape the economic reality of scarcity.
You can also watch Stephen Kinsella on Intellectual Property where he covers the issues the market is faced with regarding patents: youtube.com/watch?v=cWShFz4d2RY&t=399s
• Introduction: (0:00)
• Market Failure Claim: (0:44)
• Perfect Competition Myth: (2:17)
• Lack of Regulation Claim: (3:36)
• Absence of Care: (4:58)
• Healthcare Not Inelastic: (6:08)
• Reasons For Limited Supply: (9:52)
• Free Market Solution: (11:01)
• IP Monopoly Myth: (13:34)
• Perfect Knowledge Myth: (15:26)
• Waste Destroys Reputation: (16:19)
• Private vs Universal Insurance: (18:19)
• Universal vs Main American Healthcare: (20:55)
• Resource Misallocation: (21:59)
• Repetitive Costs Argument: (24:58)
• Deregulated Claim: (26:19)
• Profits Cap Destruction: (27:02)
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I re-iterate the point and you will never get a rational response to this question: if the state withered away, how on earth are they to keep private ownership out of sight from ever returning without such an entity that would act as an overseer over a large population? Truth is, they wouldn't be able to.I must also note that Second Thought, among many others, erroneously believe that if you privatise, it must mean it is only affordable for the rich, therefore, in his flawed belief, this means the lack of freedom.
Second Thought likes to make many baseless claims about capitalism, especially about capitalism. He doesn't comprehend a contractual agreement is voluntary and continues referencing today's economy and the lack of opportunity, continuously parroting such nonsense like in his previous arguments, which he never accounts for all of the government intervention that created such a problem.
His belief that individuals would be able to have the freedom of leisure and to pursue what they wish to do under socialism is complete distortion of everything socialism stands for. Typical of socialists, they completely redefine the entire meaning of socialism and bastardise the entire meaning of communal ownership to fit it around individualism which makes no rational sense.
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As I have argued numerous times before, I don't argue based on Left versus Right, purely because the Left have manipulated the spectrum, so much so, it becomes pointless trying to argue with them on it. Instead, forcing the argument onto individualism and collectivism puts them on the spot, pure and simply because, fascism, among every other ideology/system, bar capitalism, falls under collectivism. Capitalism is the only system that falls under individualism and the definitions are very clear.
One cannot irrationally claim that people who support capitalism are fascists given everything fascism stands for is the complete opposite of capitalism. It's ridiculous that I have to make such an argument, as it should be obvious, unfortunately, this is the case. Libertarianism is Libertarianism, whether speaking about the social policies or on the economy, Libertarianism contradicts everything fascism represents as the state controls every aspect of people's lives under fascism.
Somehow, Adam Something seems to manage to correlate the obsession over skin colour to do with Libertarianism and his erroneous claims that the likes of Richard Spencer could be passed off as 'Libertarian' or that they call themselves 'Libertarian,' is ridiculous. Again, just because people call themselves something, doesn't make it true, like a socialist who attempts to call themselves Libertarian, no such thing exists. You cannot strip an individual of their rights and liberty and then call oneself a Libertarian because it is a logical contradiction.
• Introduction: (0:00)
• Name Fallacy: (0:37)
• Explaining the GOP: (0:53)
• Left-Right Paradigm: (1:23)
• Listing Names: (2:33)
• Mislabelling: (4:24)
• Personal Responsibility: (5:15)
• Charity vs Theft: (6:07)
• Affirmative Action Myth: (7:07)
• Welfare Damage: (8:51)
• Free Market Assertion: (10:31)
• Today's Economy: (11:09)
• Can't Make His Mind Up: (12:36)
• Opportunities: (13:36)
• White Nationalism Claim: (16:23)
• Systemic Changes: (16:51)
• Conceding He Is the Problem: (17:53)
• Corporatism NOT Capitalism: (18:35)
• Libertarian Concession: (19:41)
• Why Capitalism is NOT Coercive: (21:36)
• Anticapitalism: (22:34)
• Libertarianism Being Fascism Claim: (24:05)
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As I have argued many times before, self-interest is part and parcel of human nature and social cooperation through self-interest is precisely what resulted in a harmonious society that resulted in such prosperity. The same cannot be said for the very societies that lead in the opposite direction, which is exactly what the great Milton Friedman was pointing out.
Without the self-interest through such division of labour, society would never be able to sustain itself and would result in mass starvation. Here, I also explain comparative advantage that illustrates regardless of how skilled someone may be, it illustrates such importance on the division of labour, without it, society leads to chaos and conflict, which most certainly does not result in a prosperous society.
This all closely correlates to the problems faced under socialism with the communal ownership of property, the absence of private property results in the free rider problem and starvation.
• Market vs Government: (0:00)
• Social Cooperation Explained: (2:15)
• Division of Labour: (3:55)
• Flawed Comparison: (8:49)
• False Prosperity: (9:23)
• Free Stuff Isn't Free: (10:25)
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As I've argued before, socialists are not interested in real world solutions to problems, the truth doesn't interest them, which is why they find the truth so offensive and will try and argue against it emotionally at every given turn. This is because their agenda for their religious ideology means more to them than anything. Seeing that the rich have been getting richer and poor have been getting richer, for whatever reason, angers them. You would think for any normal healthy minded person they would think that's a great thing, but for socialists, they find that deeply upsetting.
Robert Reich is just a long list of socialists perpetuating this myth and continues to spout such nonsense on the causal effects of the Great Depression and Banking Crisis of 2008. As I have addressed many times before, his solutions to the problem, were actually the main cause for why the crisis had occurred, which is the very reason why we ended up in this mess to begin with. Marxists and Keynesians alike are obsessed over controlling the economy, which is why in the name of Keynesian pump priming you saw the interests rates being artificially kept low causing the boom and bust cycle.
You can watch my video I explained on the 2008 Financial Crisis here:
• youtube.com/watch?v=FCHahZ2e6kU
I also covered the Great Depression briefly:
• youtube.com/watch?v=82dH_7S22Mw
• Inequality Explained: (0:00)
• Wage Stagnation Myth: (1:13)
• Top 1% Myth: (6:12)
• Defining Wealth: (6:24)
• Face of a Cronyist: (7:26)
• Costs of Living: (8:27)
• The Real Debt: (9:20)
• A Reallocation of Spending: (10:00)
• Cause of Booms and Busts: (10:23)
• Government Expenditure: (11:19)
• Erroneous Inequality Claim: (11:50)
• The Great Depression Myth: (12:15)
• 2008 Financial Crisis Myth: (14:04)
• Conclusion: (17:32)
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Robert Reich seems ignorant of the fact that business owners simply find ways around the higher minimum wage by compensating for paying out the higher wage. Like I stated and I reiterate, the wage of the employee is the price to the employer and an employer has to ensure that the value for what they're getting is greater than the cost. To elaborate, an employer will not hire someone for $15/hr to flip $5 burgers because they aren't worth that, the cost of $15/hr doesn't justify flipping $5 burgers.
Like I've mentioned before, in the laws of supply and demand relative to wages, entry level workers are in large supply, therefore, there is low demand from employees, it is an entirely different story when companies have to compete for skilled-labour. This is why socialists can't understand for the life of them why a top professional sports player gets paid thousands, but a doctor or nurse gets paid much less.
Regardless of how often it fails and has failed, they will never listen. Only when it is already too late and people are left in a desperate state will people listen.
*California Town Sees Businesses Vanish Following Minimum Wage Hike:*
fee.org/articles/california-town-sees-businesses-vanish-following-minimum-wage-hike
*$15 Minimum Wage Laws Are Wiping Out Jobs in New York and Illinois:*
fee.org/articles/15-minimum-wage-laws-are-wiping-out-jobs-in-new-york-and-illinois
*Why McDonald’s Gave Up the Minimum Wage Fight:*
fee.org/articles/why-mcdonald-s-gave-up-the-minimum-wage-fight
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As usual, Second Thought likes to make baseless claims, especially when it comes to the wealth gap between the rich and poor, instead, projecting the blame off onto automation and capitalism.
What I didn't touch upon, and maybe should have, is the law of diminishing returns, which is something that could influence job losses, especially for people using machines, they only have a certain capacity of output in production, therefore, only a certain number of workers can use machines before there is a drop off point if exceeding the number of people using one machine. This argument would closely correlate with the manufacturing more specifically during the manual labour days of the industrial revolution and even in circumstances today as not everything is automated.
However, even for the myth of automation, more jobs are being created than those lost, again, socialists really only look at one side of things, they don't acknowledge the jobs being created.
Second Thought also repeatedly likes to attempt to pass off today's economy as somehow being strongly capitalist, when, in reality, it is corporatist. The free market is not involved and like I've mentioned, if anything is to blame for the soaring consumer prices, it is to blame on a variety of factors, such as; welfare and social security spending; more specific to Great Britain with the _"free"_ services, that are not actually free; the higher tax rates and over-regulation of the private sector, among other things. This explains why there is a problem in the market today, however, does not change or hide the fact that a higher level of productive output benefits the consumer through falling consumer prices.
• introduction: (0:00)
• Ever Changing Market: (0:14)
• Case for Human Labour: (1:35)
• Projectionism: (2:26)
• A Concession of Improvement: (3:04)
• Industrial Revolution Poverty Myth: (3:42)
• Capitalism vs Socialism: (4:56)
• Political vs Market Entrepreneurship: (5:34)
• Industrial Revolution Living Standards: (6:12)
• Fall of Workweek Hours: (8:26)
• Myth of Safety Regulation: (10:07)
• Exploitation Myth: (11:00)
• Undermining Wages Myth: (11:56)
• Today is No Different: (12:26)
• Benefits of Efficiency: (13:35)
• Costs of Living: (14:07)
• Wealth Gap Myth: (14:41)
• Myth of Free Market Monopolies: (16:07)
• Great Funding Problem: (16:53)
• Tragedy of the Commons: (18:59)
• Economic Calculation Problem: (21:01)
• Scarcity is Real: (22:03)
• Ignorance of Profits: (22:40)
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PoliDice tries to use the erroneous argument on healthcare, but completely ignores the fact that the reason for such soaring costs in the main American healthcare market is all down to governments interference that resulted in a collusion between private pharmaceutical companies. Even then, such as his example of a hurricane disaster, he fails to comprehend the purpose of the higher price that he confuses with _'price gouging.'_ That isn't to say there won't be specific individuals who take advantage of such a situation, but such an individual rations what is scarce, therefore, the resource reaches those most urgently in need.
The water and diamonds paradigm is the prime example of why people who believe in the labour theory of value don't understand where value derives from. To reiterate, those who believe in the Labour Theory of Value think value is down to use value, but such a thing doesn't explain why diamonds are of a higher price and value over that of water, despite water having greater utility.
Much like I pointed out previously, PoliDice makes baseless claims about the Austrian school of economics whilst showing a great deal of snobbery and ignorance of the philosophical approach and its importance in relation to human action. The economics he holds up as being the great intellectuals, such as, Paul Krugman, was not only wrong about Canadian healthcare, but woefully wrong on his predictions of the banking crisis. In fact, it was caused by Keynesian 'pump priming'.
• introduction: (0:00)
• The 'Name' Attempt: (0:21)
• Defence of FEE: (0:43)
• Funding Argument: (1:27)
• Austrian vs Mainstream Economics: (1:47)
• GDP calculation: (7:08)
• More Empty Arguments: (7:27)
• Prices and Radical Subjectivism: (8:27)
• Supply and Demand: (11:33)
• Big Pharma Collusion: (12:25)
• Explaining Rationing: (14:20)
• Water and Diamonds Paradigm: (15:26)
• Purpose of Higher Prices: (17:33)
• Conclusion: (18:25)
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Socialists cannot, on one hand, preach to you that the _"unfettered"_ or _"unregulated"_ market caused such a crisis, but then, on the other hand, contradict themselves claiming that capitalism is to blame for things such as the control and manipulation over interest rates, prices, etc. Capitalism is either the market left to regulate itself or it isn't, it can't be both. Given the presence of socialism within the mixed economy and even to a varying degree in the economy to some extent during the industrial revolution, as I've pointed out, socialism does correlate to such things like the government subsidies, etc.
Whilst the Gravel Institute concede to some extent that there was a socialist upheaval in the late 19th century, they conveniently ignore the fact the battle between capitalism and socialism dates as far back as the foundation of the United States with the difference between the Jeffersonian's and Hamiltonian's.
The Gravel Institute on American Socialism seem to think that the Scandinavian countries are shining examples for socialism, much like that of Bernie Sanders, with the usual rhetoric about universal healthcare, free education, etc. However, like Bernie Sanders, they completely ignore the consequences it has on their economy. Socialists fail to understand the Broken Window Fallacy, that just because something appears free from face value, they ignore what has been taken away elsewhere to make way for paying for it.
As I noted before, Sweden is the perfect example for this with a real unemployment rate that is 3 times higher than the official unemployment figures, an unsustainable economy with a severe lack of productivity in their domestic economy, but somehow passed off as these successful countries. Sweden illustrates what happened as a result of socialism and if anything, the Scandinavian countries were rolling back on their socialist policies for good reason.
American Socialism is just farcical, socialism has caused enough damage as it has in the American economy and clearly that isn't enough for these people. They acknowledge the debt crisis and soaring inflation, but cannot see they are the reason this problem occurred.
• Where it all Began: (0:00)
• European Socialism: (2:01)
• American Rejectionism: (4:38)
• The Community Spirit: (6:47)
• American Labour Movement: (8:02)
• Rise of the Strikers: (9:09)
• Fleeing Socialism: (10:22)
• Taking a Stand: (11:10)
• Subsidisation is Socialism: (12:18)
• Unintended Consequences of Socialism: (13:05)
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Like I've argued before, in Bernie Sanders view, he thinks it is as simple as blaming private ownership erroneously claiming that profit-seeking is what leads to soaring costs, but as I've pointed out numerous times before, government intervention created the problem.
Bernie Sanders on Scandinavia in of itself is deeply misinformed, Sweden alone had began moving much into the private sector and brought in private initiatives and even for their universal healthcare, as pointed out, they are free riding off the back of the United States for medical innovation, etc. Judging by socialists, if they were as wealthy as they claim they are, they'd be financing it themselves.
In this video I show the glaring faults in their arguments by showing they have the soaring costs of living, which is a price signal, as I have mentioned, that illustrates a shortage. Bernie Sanders goes into many other topics in his interview with Vox, especially on wages, which is another thing Bernie Sanders on Scandinavia fails to comprehend.
Here are some more healthcare videos you may be interested in:
• Why American Healthcare Costs So Much:
youtube.com/watch?v=SHR7FlRrhAU
• Direct Primary Care:
youtube.com/watch?v=V-c2uPAoh4Q
• Scandinavian Healthcare Debate:
youtube.com/watch?v=grIfk2WYhho
• Introduction: (0:00)
• Describing Scandinavia: (0:33)
• Wealth Redistribution: (3:06)
• A Miscomprehension: (4:54)
• Healthcare is NOT a Right: (5:27)
• Health Insurance: (6:59)
• Universal Healthcare Costs: (8:47)
• State Education is Indoctrination: (9:15)
• Free Isn't Free: (11:03)
• Education Isn't a Right: (11:33)
• Drug Access & Innovation: (12:03)
• Moral Claim: (14:28)
• Drug Regulation: (14:52)
• Conclusion on Big Pharma: (15:41)
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The argument of late stage capitalism comes with the usual myths about capitalism, whether it is about the wealth gap between the rich and poor; the famous automation myth that apparently is destroying the demand for human workforce, or that the economy is plunging towards collapse complaining about climate change and soaring private sector costs and the serious debt crisis. What they don't tell you, however, not only was none of this to blame on capitalism, but it had everything to do with their socialist government interventionism in the economy.
Whilst I can sympathise there is a problem with today's economy, they concede by acknowledging the fact capitalism is about the market regulating itself. A big concession given the fact they claim they live under late stage capitalism. The truth is, they wish to project the blame off onto capitalism, thus, to further the agenda of socialism.
In this particular video I don't go into too much detail as I have already covered a lot of the stuff contradicting the narrative they spout, however, what this video illustrates is the anticapitalist mentality and the problem with their erroneous arguments.
*Profits and Losses Explained:*
• youtube.com/watch?v=mVbbFVKWdhI
*Free Market Monopolies Myth—Refuting Robert Reich:*
• youtube.com/watch?v=Mxqf3b34fe8
*2008 Financial Crisis Explained:*
• youtube.com/watch?v=FCHahZ2e6kU
• Introduction: (0:00)
• Feudalism vs Capitalism: (0:52)
• Late Capitalism Mentality: (1:44)
• Cronyism NOT Capitalism: (2:20)
• Wage Inequality Myth: (3:02)
• A Mockery: (4:08)
• Disingenuous Labelling: (4:47)
• Individualism vs Collectivism: (5:21)
• The Enemy Within: (7:09)
• Taken Out of Context: (8:16)
• Fallacious Employment Analogy: (9:55)
• Profits & Environmentalism: (11:58)
• Some Truth: (13:56)
• The Crisis: (15:05)
• Wolff's Hypocrisy: (16:20)
• Soaring Costs: (16:52)
• Concession and Lies: (17:39)
• Wage Slavery Ignorance: (18:39)
• Wolff's Contradiction: (21:31)
• Ignorance of Wealth: (21:55)
• The Gullible: (23:33)
• Great Reset Scam: (24:18)
• Automation Myth, AGAIN: (25:37)
• Green, the NEW Red: (26:54)
• Subconsciously Capitalist: (27:54)
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You can also watch the first part I had in discussion with Mike on Hong Kong here:
youtube.com/watch?v=jTcAVYuulQY
Decentralisation of the economy means to move away from collectivism towards individualism, in reference to capitalism with private individual ownership. Socialism, as I have pointed out so many times before, is defined around central planning and political centralisation.
Like I've argued many times in the past, the goal towards reaching their utopia is faced with dire consequences. Viki 1999 who conceded in the past saying she supports using money and paying wages, the reality is, they'd be faced with not only hyperinflation, but in the process of trying to rid the economy of the private sector, the soaring inflation would result in strikes, etc.
Her argument of council communism is based around the idea of democracy, but as we see in today's mixed economy, people may like to think of themselves as the power, but they would be forced to use central planning to keep a large scale economy and population all on the one page. Even then, as I've argued, stripping individuals of their rights and liberty means that what the collective dictates, the individual's needs and wants are subordinated, so the individual is forced to accept whatever the greater number decides.
Again, I wouldn't need to go into the entire argument on communal ownership and personal ownership, even at that, her argument about holding onto the market is contradictory of socialism in general. Whilst the Soviet Union did have the market to some extent, it was heavily centrally planned as I argued. For anyone to call the Soviet Union capitalist is downright ignorant and quite frankly ludicrous.
• Introduction: (0:00)
• Road to Serfdom (0:19)
• Leninism and the Real World: (2:30)
• Centralised Bureaucracy: (3:57)
• Decentralisation Contradiction: (4:55)
• The Hierarchy: (5:55)
• Market Contradiction: (8:18)
• Their Real Intent: (9:41)
• Same Thing: (11:15)
• Soviet Union Capitalism Claim: (12:03)
• Collectivist Conflict: (13:21)
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I have debunked PoliDice previously on the argument of healthcare and didn't feel the need to go further into that argument. The argument regarding the free market vs government intervention relative to charity is very similar to the claims socialists make that without government taxation, you wouldn't have such services, which is proved to be completely false given the history that contradicts that narrative, no different to charity itself.
Here you will find why American healthcare costs so much:
• youtube.com/watch?v=SHR7FlRrhAU
The Direct Primary Care model which contradicts his narrative:
• youtube.com/watch?v=V-c2uPAoh4Q
A brief history on the Great Depression and the New Deal:
• youtube.com/watch?v=82dH_7S22Mw
• Introduction: (0:00)
• Taxation is Theft: (0:29)
• Present Problem: (1:28)
• Costs of Education: (3:28)
• Public Services and Healthcare: (5:31)
• Conservatives and Warfare: (8:01)
• Conservatives and Charity: (8:53)
• Libertarians and Charity: (10:15)
• Unfounded Claims in Crisis: (14:04)
• Lack of Faith: (15:36)
• Conclusion: (17:08)
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Explaining the Gas Shortage 2021 Crisis with price ceilings, why they create price shortage problems and on the panic buying relative to consumer behavioural patterns.
If you wish to learn more in-depth for why the 2008 financial crisis occurred, you can watch my video explaining the crisis here below.
2008 Financial Crisis:
• youtube.com/watch?v=FCHahZ2e6kU
As I have covered extensively in the past, capitalism is grossly misunderstood and Philosophy Tube illustrates just how ignorant he is of what the market is, his logic is upside down and contradictory. On one hand, himself and Mexie seem to acknowledge it means the market regulating itself, but on the other they seem ignorant of the control and manipulation of the interest rates that resulted in the boom and bust cycle throughout the 20th century. Again, this is something I have fully explained in the 2008 Financial Crisis video.
Neither Philosophy Tube or Mexie seem to comprehend the laws of supply and demand, nor do they understand prices. Philosophy Tube proves this as he seems ignorant of the fact that an abundance of housing, if there was more than enough to go around, it would mean the price would fall, not drive up. Both of them illustrate the point I made that they seem to think they can just ignore the laws of supply and demand.
It is important to address, E. P. Thomson, a British historian who was a strong critique of capitalism was forced into concession, in his own work, he wrote that the living conditions of the industrial townhouses were _"better off"_ and even emphasised the words _"better off"_ in quotes, than the hovels they came from living in the countryside fifty years prior to then. That marks the improvement of living standards.
Yes, no one denies the living conditions were poor if you were to compare the living conditions then to today, which is simply irrational to make such a comparison, again, he seems ignorant of the fact Britain's industrial revolution was rife with mercantilism and as I've pointed out there was no market freedom but a history of subsidisation by the state.
It's a bit like claiming there was a lack of government regulation in the industrial revolution in the United States, whilst that may be true, look at the countless companies that faced bankruptcy because of state intervention via internal improvements, which is another term for corporate welfare.
In this video I lay bare the ignorance of not just the cause of the housing crisis briefly, but of what we're up against regarding history and the market, hopefully people can learn a thing or two as socialism most certainly is not the answer to solving our problems today. You can learn more about the damage subsidies caused below.
Why Subsidisation Fails:
• youtube.com/watch?v=koDKM9mYlic
Free Market Monopolies Myth (Failure of Subsidies):
• youtube.com/watch?v=Mxqf3b34fe8
• Introduction: (0:00)
• Economic Trade Offs: (0:28)
• World of Scarcity: (1:16)
• Market versus Crisis: (2:06)
• Supply and Demand: (4:29)
• Explaining the Market: (8:31)
• Industrial Revolution Living Conditions: (9:51)
• Mexie's Contradiction: (13:21)
• Idealism and Consequences: (16:02)
• Anti-Market Caused the Crisis: (20:56)
• Dictatorial Venezuela: (22:27)
• British Industrial Growth: (23:59)
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The argument about the public railways, bridges, canals, roads proved to be a disastrous failure under the internal improvements because of government, as I have pointed out on the turnpike industry, the free market gave government a showing up in the absence of the corporate subsidies, etc.
As I argue, however, the type of privatisation you are seeing today is nothing at all what describes true private ownership, instead, it's a private sector strongly being controlled by government. As I've already illustrated, there is a colossal difference between true private ownership where private business is left be to compete rigorously in the absence of the government subsidies and government regulation. You can check out my argument on why the subsidisation is damaging to the economy.
Why Subsidies Don't Work:
• youtube.com/watch?v=koDKM9mYlic
Robert Reich illustrates the point about the subsidisation carried out under Trump, however, this is not an argument against privatisation as he thinks it is, instead, it's a problem involving the government subsidies to blame in the first place. Failure of private business is supposed to occur under capitalism to allow newer more efficient industry to come through, this is something socialists fail to comprehend. Capitalism, therefore, is not about guaranteeing 100% of all businesses success.
He also makes a concession not to privatise industry where costs will soar in the absence of competition, but fails to acknowledge the fact that government regulation is the cause of this, therefore, nationalisation is not the solution, the solution is to remove government from the market and open up the free market to allow competition to step in via strong deregulation of the market.
As I've pointed out numerous times before, the main American healthcare market is NOT capitalist and the fault of the costs soaring out of control in the main American healthcare market is to blame on all the government intervention. You can watch both my videos covering the healthcare.
Why American Healthcare Costs So Much:
• youtube.com/watch?v=SHR7FlRrhAU
Direct Primary Care: Free Market Solution to Healthcare:
• youtube.com/watch?v=V-c2uPAoh4Q
USPS Privatisation:
• fee.org/articles/its-time-to-privatize-the-united-states-postal-service
• fee.org/articles/the-postal-service-is-the-problem-not-amazon
• mises.org/library/usps-cursed-carriers
• Introduction: (0:00)
• Turnpikes: Private vs Public: (1:04)
• Public Education is Indoctrination: (4:08)
• What Type of Privatisation: (4:43)
• Subsidies ARE the Problem: (5:17)
• Investment and Profits: (6:19)
• Unity and the USPS: (7:51)
• For Profits and Health Insurance Costs: (9:02)
• Prisons and Human Rights: (11:29)
• Education Choice Removed: (12:16)
• Deregulation is the Solution NOT Nationalisation: (13:02)
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Robert Reich being the typical socialist sympathiser, he perpetuates the myth of the Robber Barons, laying accusation as others have before him that the likes of John D. Rockefeller, Cornelius Vanderbilt, among others, apparently were these evil monopolists who drove prices up to shaft the consumer. The evidence I have pointed out even from Thomas J. DiLorenzo's book, 'How Capitalism Saved America' contradicts his narrative, especially on the railways regarding James J. Hill, etc.
Like I have stated, it is down to governments regulation that has resulted in the restriction of competition and of productivity that has enabled such an oligopolistic market and certain monopolies. Like I argued, the likes of Robert Reich love to loosely throw around the word 'monopoly' which is wrong, otherwise, the word begins to lose meaning. I have explained the definition, as well as provided plentiful evidence to back up what contradicts his baseless claims.
Coincidentally, after Standard Oil was broken up, among other Trusts in 1911, that was when you began to see the real monopolisation of the oil market, etc as prices drove up, just as Tom Woods mentioned about FDR, it was in their interests 'apparently' in the name of making life better for the farmers, but it didn't. It is evidently clear that state corruption had its agenda.
This will help explain why Antitrust law legislation is never the answer for solving such problems you see today. The solution is to get government out of the market, to open up the free market economy, to allow competition to step in. In today's corporatist system, as I've argued, the government is getting to pick and choose winners and losers, which explains why big corporations dominate the marketplace, especially the giant supermarkets who are getting away with exploiting and shafting the farmers. All of this has been allowed due to government over-regulating the private sector that enabled such collusions to form in the absence of a free market.
People like Robert Reich are ludicrous for thinking more government regulation is the solution when that has been the problem from day one.
• Introduction: (0:00)
• Market vs Political Entrepreneurship: (0:47)
• Shafting Consumers: (4:52)
• Supermarket Exploitation: (7:36)
• Robber Barons Myth: (8:27)
• Corporatism NOT Capitalism: (10:07)
• Government Regulation is THE Problem: (11:08)
• Monopolisation of Healthcare: (11:40)
• Company Consolidation: (13:14)
• Wages and Inflation: (13:56)
• Real Rationale of Antitrust: (14:46)
• Robber Barons Myth Continued: (15:28)
• Antitrust Myth: (17:30)
• Conclusion: (20:37)
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In this particular video I respond to, however, Saint Andrewism makes the claim that the typical Anti Capitalism you see today isn't good enough, instead, he calls for revolutionary change, something less passive. Little does he even begin to understand, his ideas were tried before many a times in the past and many lost their lives as a result of it.
Saint Andrewism gives away several concessions, which, to be fair, is at least more honest than other socialists who try to swerve past such things.
Saint Andrewism, much like other socialists, make the claim that capitalism is responsible for such environmental damage and waste, as always, socialists like to speak a lot whilst saying very little and providing no rational solution in the process.
Much like other socialists, Saint Andrewism has a black and white picture worldview of produce, as if clothing is one entity, as well as food, completely overlooking the fact there are thousands of different options and with society all having different tastes from one another, he fails to account for how socialism will direct production for such a vast market of consumers.
Saint Andrewism is a "Libertarian Socialist" (yes, I know, oxymoronic) whom concedes violence is their only option. This concession illustrates why socialists are very dangerous, not only do they lead society down a very dark road of oppression and severe economic impoverishment, they lead to mass graves. I wonder where we saw that in history again?
• Introduction: (0:00)
• Responsibility: (1:03)
• Vague Anti Capitalism: (1:25)
• Defining Capitalism: (2:05)
• His Dishonesty: (3:02)
• Defining Social Democracy: (3:28)
• Neoliberal Myth: (4:01)
• Human Nature: (4:37)
• Wealth Explained: (5:56)
• Monopolies Explained: (6:33)
• Private vs Public: (8:20)
• Profits and Waste: (9:50)
• Market vs Political Entrepreneurship: (10:48)
• Prager U Name: (11:36)
• Violence Concession: (12:04)
• The BIG State Concession: (13:16)
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Whether it was the recent pandemic you saw the argument for the 'Great Reset' and we have been seeing more and more authoritarianism from governments since the end of lockdowns here in the U.K. Even the arguments on climate change you'll hear socialists bang off about how capitalism is the cause of their problems and how socialism is the solution. For anyone with their eyes open and aware, it is easy to see right through their entire agenda.
They know they cannot win through the ballot box to push for socialism, instead, they attempt the strategy of scaremongering people to strike fear into people with propaganda, but really all they are arguing for is more control over the economy in the name of socialism.
Capitalism is NOT the problem and never was the problem. I have pointed out numerous times before that if they wish to argue for helping the climate then the free market economy is the solution. Socialism being rife with the economic calculation problem, I have made those arguments numerous times before, which you can check out my videos that help explain why socialism is catastrophic, not just for the environment, but pandemics.
Economic Calculation Problem on Profits and Losses:
• youtube.com/watch?v=mVbbFVKWdhI
Economic Calculation Problem Extended:
• youtube.com/watch?v=Zjzofn0qzQ4
It was thanks to capitalism for all the medical discoveries, the vast improvement in our health and living standards, as well as the reduction of workweek hours which contradict the narrative spread on the pandemics and climate change.
Capitalism is what led to the creation of the vaccines in such a short space of time, as well as getting the vaccinations out to as many people as possible. If anything is at fault it is the governments imposing all the restrictions on the market, slowing down the process, harming the economy and trampling all over people's individual rights and liberty.You can also check out my video on the financial crisis of 2008 that illustrates how erroneous their arguments are against capitalism relative to their baseless claims about deregulation having caused the banking crisis.
Financial Crisis 2008 Explained:
• youtube.com/watch?v=FCHahZ2e6kU
• Introduction: (0:00)
• Not Capitalism: (1:24)
• The Environment: (2:32)
• Life Before: (3:59)
• Movement of People: (5:09)
• Real Climate Crisis: (5:36)
• Progress and Housing: (6:56)
• Freedom to Choose: (7:52)
• Economics Comes First: (8:41)
• China's Growth: (9:43)
• Misinformation: (11:21)
• Social Market Economy: (11:48)
• Vaccinations and Profits: (12:15)
• Refuting Libertarian Socialism: (14:30)
• Dishonesty: (15:39)
• Delusional Idealism: (17:02)
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