Uploaded January 2020 | Updated September 2026, 2 weeks ago
This video is an explanation of the free market. I do not specifically talk about free market capitalism but rather the free market itself as it would be seen in market socialism.
Twitter: twitter.com/Viki1999Yt
Transcript:
Welcome back to ideology explained. This time we are talking about free markets which aren’t technically an ideology either just like the last topic. And no, neither the market nor the planned economy are ideologies. Don’t get me wrong they are featured in ideologies but they themselves aren’t ideologies. Just like the police force, it exists in some ideologies and not in others but that doesn’t make it itself an ideology.
Anyways let’s start. Markets are a system of distribution used to move resources. The market does not affect under what conditions the products are made. We are used to thinking about the market as part of capitalism and right now it definitely is, but you could just as much have a socialist economy with a market. It’s called market socialism and it basically means giving the means of production to the workers but leaving the market in place.
Some want to keep it forever and others want it to only be in place for a transition period until another system is established. Something I’ve heard of in Terry Eagleton’s book titled “Why marx was right” would be an AI planned economy for all necessities and a free market on top of that for all luxury products.
For the sake of completion let’s now go over how the market works. A market is completely decentralized, and the distributing actors do not directly communicate with each other. Rather they have a look at as many transactions as possible, work out the prices of a lot of products and by what has the highest price in a certain place they decide what to sell and where to sell it.
But wait how do the prices change at all? That’s supply and demand. When more people want a product than there are products available the people owning or selling the product notice that and increase the price which then encourages people to produce more. And if there are enough resources around the people making or selling them have to somehow encourage people to buy their product instead.
They do that via Innovation and increased productivity which allows them to sell a cheaper product which more people will buy. The free market has complicated roots and it has been around in some form forever and by that, I mean people trading stuff. It was really refined and popularized by Adam Smith in the 1770s and has since been adopted by practically every country on earth.
After the theory and the history this is the point of the video where I go over the disadvantages of the market. Taking how the free market has been in place for the past 200ish years there are quite a few examples of that. Please don’t take me mentioning all of the faults as biased. It’s just that it’s easy to see flaws in a system that is everywhere.
One big flaw is the indirect communication. The people who need a resource like food have no way to directly tell the producers that they need more, and they must rely on the prices rising and the producer noticing that. Nowadays there are market analysts for that. They only exist because the market doesn’t allow direct communication between the consumers and the producers which is an inefficiency in my mind.
Talking about inefficiency, the free market wastes a lot of resources on competition and as luck would have it, I have an entire video on that so go watch that. There is also the problem that while the market is supposed to cause innovation with competition it does not actually do that. And yes, I’ve made a whole video on that as well.
Then there is the fact that the market causes monopolies. Just the simple act of competition ensures that. Anarcho-capitalists like to blame the state for that but hear me out. We have 2 businesses competing and one is winning, meaning they have a better or cheaper product. Eventually the other one will go bankrupt and the first one will notice that there are a bunch of new customers to be had so they expand there and now we have a business twice the size.
Next step it does that again and again and again until only one business remains, a total monopoly. And of course, the people in charge of that monopoly will then become a lot richer than anyone else which causes wealth inequality. Our world has gold plated 100-dollar Pizzas and millions of people starving and the fact that we have both of those displays that inequality which isn’t a good sign.
There are more problems with markets but if I tried to list them all we’d be here forever. I am sure I will make videos talking about those in the future, so subscribe or something like that. And that’s about it. See ya.
This video is an explanation of the free market. I do not specifically talk about free market capitalism but rather the free market itself as it would be seen in market socialism.
Twitter: twitter.com/Viki1999Yt
Transcript:
Welcome back to ideology explained. This time we are talking about free markets which aren’t technically an ideology either just like the last topic. And no, neither the market nor the planned economy are ideologies. Don’t get me wrong they are featured in ideologies but they themselves aren’t ideologies. Just like the police force, it exists in some ideologies and not in others but that doesn’t make it itself an ideology.
Anyways let’s start. Markets are a system of distribution used to move resources. The market does not affect under what conditions the products are made. We are used to thinking about the market as part of capitalism and right now it definitely is, but you could just as much have a socialist economy with a market. It’s called market socialism and it basically means giving the means of production to the workers but leaving the market in place.
Some want to keep it forever and others want it to only be in place for a transition period until another system is established. Something I’ve heard of in Terry Eagleton’s book titled “Why marx was right” would be an AI planned economy for all necessities and a free market on top of that for all luxury products.
For the sake of completion let’s now go over how the market works. A market is completely decentralized, and the distributing actors do not directly communicate with each other. Rather they have a look at as many transactions as possible, work out the prices of a lot of products and by what has the highest price in a certain place they decide what to sell and where to sell it.
But wait how do the prices change at all? That’s supply and demand. When more people want a product than there are products available the people owning or selling the product notice that and increase the price which then encourages people to produce more. And if there are enough resources around the people making or selling them have to somehow encourage people to buy their product instead.
They do that via Innovation and increased productivity which allows them to sell a cheaper product which more people will buy. The free market has complicated roots and it has been around in some form forever and by that, I mean people trading stuff. It was really refined and popularized by Adam Smith in the 1770s and has since been adopted by practically every country on earth.
After the theory and the history this is the point of the video where I go over the disadvantages of the market. Taking how the free market has been in place for the past 200ish years there are quite a few examples of that. Please don’t take me mentioning all of the faults as biased. It’s just that it’s easy to see flaws in a system that is everywhere.
One big flaw is the indirect communication. The people who need a resource like food have no way to directly tell the producers that they need more, and they must rely on the prices rising and the producer noticing that. Nowadays there are market analysts for that. They only exist because the market doesn’t allow direct communication between the consumers and the producers which is an inefficiency in my mind.
Talking about inefficiency, the free market wastes a lot of resources on competition and as luck would have it, I have an entire video on that so go watch that. There is also the problem that while the market is supposed to cause innovation with competition it does not actually do that. And yes, I’ve made a whole video on that as well.
Then there is the fact that the market causes monopolies. Just the simple act of competition ensures that. Anarcho-capitalists like to blame the state for that but hear me out. We have 2 businesses competing and one is winning, meaning they have a better or cheaper product. Eventually the other one will go bankrupt and the first one will notice that there are a bunch of new customers to be had so they expand there and now we have a business twice the size.
Next step it does that again and again and again until only one business remains, a total monopoly. And of course, the people in charge of that monopoly will then become a lot richer than anyone else which causes wealth inequality. Our world has gold plated 100-dollar Pizzas and millions of people starving and the fact that we have both of those displays that inequality which isn’t a good sign.
There are more problems with markets but if I tried to list them all we’d be here forever. I am sure I will make videos talking about those in the future, so subscribe or something like that. And that’s about it. See ya.
![Watching a funny libertarian rant [Reply to Scotty M] (he has since deleted the vid. Read desc.)](https://i.ytimg.com/vi/ARcQxpojjxc/mqdefault.jpg "Watching a funny libertarian rant [Reply to Scotty M] (he has since deleted the vid. Read desc.)
PLEASE NOTE: He took down the video I am replying to without explanation, one possibility is that he was getting harassed by people from this video. I oppose that. I considered taking my video down. After all my channel is now close to 3 times the size of his channel (unlike when I uploaded this, at that time his channel was bigger) and I dont want to lead a hate mob against a smaller channel. But on the other hand I came to the conclusion that it is my right to reply to a video about him and the fact that his channel is small should not be a reason for me to remove my criticism. Because of this I held a YT community post to decide and right now its 75% in favor of keeping this video up. This is why this video still exists despite the fact that the video I am replying to does not.
This video is a reply to Libertarian views scotty Ms video about me. He is replying to my last video in which he appeared. While he is pretending to reply to me all he actually does is rant about random topics for 30 minutes. Some of his topics include trumps covid comments, the starving time in 1607, the history of india as well as many other topics which are not related to my video. For the sake of speed I disregarded some of his argument in favor of focusing on the more credible ones.
Subreddit: reddit.com/r/viki1999
Patreon: patreon.com/viki1999
Twitter: twitter.com/Viki1999Yt
E-Mail Address: viki1999mail@gmail.com
Links:
Scottys video: youtube.com/watch?v=Hmi4qB_eXkY
820 Million people Lack the food to live a healthy life: htthttps://news.un.org/en/story/2019/07/1042411
9 Million Starve each year: https://www.creditdonkey.com/world-hunger-statistics.html
9 Million Starve each year2: https://www.mercycorps.org/blog/quick-facts-global-hunger
Transcript:
Hello everybody, one of my last videos was this one, it became my best received video so far, finally breaking the record set by my first video, long story. Anyway in that one I made fun of some silly libertarians including this one. Among other things I said that he must be reasonable and open to change his mind if he put his ideology into his username. And in the comment section he totally proved me right by going on a long rant about, well, everything.
I then told him that if he intends to make a video about me he should watch a few other of my videos so he wouldn’t repeat the same 5 old lies. Stuff like how socialism did not kill 100 million, that markets aren’t that efficient and that they are responsible for about 15 million deaths each year. He totally took that advice, I am sure. And he then made a 30 minute response video. So that’s what we are doing today, we are looking at his response to my video.
His video is quite long and if I made a full response it would take about 5 hours since videos take about 10 times their own runtime to be debunked. Because of this I will be ignoring some of the more generic arguments and only talk about actual interesting points and things that are so radicicolous that I had to show them to you. So, without further ado let’s get into it, shall we?
He starts of by showing the first few seconds of my video. This is the only time he shows anything from me which is kind of odd for a response video. The rest is kind of an unhinged rant. And there is one thing you might notice, he seems to be confused about my pronouns. And I should have addressed that earlier. I use she/her pronouns and I am not a boy either. I am a woman and I have always been one. I know it’s hard to believe because of the voice but that’s actually just because of a gene defect which causes my body to produce too much testosterone which then changed my voice. I recognise the confusion but from now on you know.
Anyway, his video starts off with explaining that socialism and collectivism are synonyms. And he further explains that I was using the wrong definition of socialism in my video. He then shows us his definition of socialism. Okay so this says. ”Any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods”
While I said. “Socialism is worker or community control over the means of production, like a factory which democratically decides how to operate” the only difference I can see is that I didn’t explicitly mention the state. Because if someone considers the state an extension of the community then to them state control is community control. So he says I am making up my own definition while showing my definition on screen. Okay then.")
