Why Capitalism is Great: Debunking Capitalism is Bad 101 @Libertarianach_na

Uploaded October 2020 | Updated September 2026, 1 week ago

Why capitalism is great is my response debunking capitalism is bad 101 by @florasplace3404. Much like that of @Viki1999, @SecondThought, and @joescott, it is painfully clear that a majority of people haven't got the slightest understanding of what capitalism is and is not. Yet again, capitalism gets the blame for the mess we live under today.

In this argument by Ryan Hibbs, he covers why capitalism is bad in his view based on entry-level workers not being paid more, therefore, he describes this as exploitation; his argument on innovation claiming it is secondary under capitalism; claiming that capitalism isn't relative to human nature and the claim that capitalism is bad for society.

As I have addressed, Ryan doesn't comprehend that not only are we living under corporatism but that individuals have responsibility for their own actions. The reason why capitalism is great is that it gets rid of the deadwood and allows room for a newer more efficient industry to come through. The capitalist system rewards success and punishes failure, this results in costs driving down due to competition in the free market and quality driving up.

As a result of living in the absence of the capitalist system we live under an unjust system that rewards failure using socialist subsidies and punishing success, therefore, I can sympathise with the likes of Ryan Hibbs on issues such as this. However, to blame capitalism for the immorally unjust system we live under today is just erroneous.

As I also addressed, economics is not a study that cares about people's feelings, there are consequences for your actions and this is something a great many people misunderstand.

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

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