LBRY Block Explorer

LBRY Claims • common-myths-about-capitalism-refuting

9061518ed612e220790c15f12410e8cc3a27bfdc

Published By
Created On
15 Apr 2021 10:35:33 UTC
Transaction ID
Cost
Safe for Work
Free
Yes
Common Myths About Capitalism: Refuting Hakim
In this argument on common myths about capitalism refuting Hakim, I respond to his arguments that you will commonly hear about capitalism. Socialists will always use the same old arguments about the boom and bust cycle, exploitation of labour or something else regarding special-interest favours, but as I have pointed out numerous times before, capitalism is not corporatism nor is capitalism the early stages of corporatism.

In correlation to my video, the definition of capitalism is as follows:

"An economic system in which the means of production and distribution are privately or corporately owned and development occurs through the accumulation and reinvestment of profits gained in a free market."

Another definition of capitalism:

"Capitalism, also called free market economy or free enterprise economy, economic system, dominant in the Western world since the breakup of feudalism, in which most means of production are privately owned and production is guided and income distributed largely through the operation of markets."

This important point Hakim completely ignores, instead, in his argument he references points from Karl Marx and Friedrich Engels and even on today's economy whereby opportunity is few and far between. As I have explained time and time again, you can't restrict the market by use of government and then blame capitalism for the cause of the problems we have today. We live under a mixed economy and not a capitalist system. Whilst there may be elements of capitalism present today in a mixed economy, capitalism is being strangled half to death via all the socialist government interventionism.

Hakim laughably addresses in one of his audacious claims that capitalism results in the common myth of using up the world resources through over production, again, you can find my arguments on the economic calculation problem which address the argument for why only capitalism can allocate resources efficiently. The history of Hong Kong and Singapore are there for all to see such evidence that the most efficient economies are those which are strongly capitalist, not socialist.

*Economic Calculation Problem:*
• profits and losses: https://www.youtube.com/watch?v=mVbbFVKWdhI
• variety of options: https://www.youtube.com/watch?v=bFoqXD_o6Wc
• fuller explanation: https://www.youtube.com/watch?v=Zjzofn0qzQ4

There were some other arguments he made, but I cut out much of that due to the length of the argument and covered the basis of his erroneous arguments. One such point I cut out was on 'class antogonism' which I could upload separately if requested. It's based on a silly argument to claim what the capitalist wants, but economic reality doesn't permit it and competition and the choice from workers enables them the opportunity to work elsewhe
...
https://www.youtube.com/watch?v=PQ1SiYFqfBA
Author
Content Type
Unspecified
video/mp4
Language
English
Open in LBRY

More from the publisher

Controlling
VIDEO
ECONO
Controlling
VIDEO
BLM P
Controlling
VIDEO
NOAM
Controlling
VIDEO
SCOTT
VIDEO
COPY
Controlling
VIDEO
DEBUN
Controlling
VIDEO
REAL
Controlling
VIDEO
POWER
Controlling
VIDEO
PAUL