American Capitalism (1948)

when our founding fathers established this Republic they created a political and economic system unique among nations a system which has led the United States to the very pinnacle in wealth and in world leadership at the classroom lectern is dr. Clifton L gayness jr. noted young historian each generation of Americans will develop a clear understanding of our American system of capitalism but first who will define for us the term capital that is in its economic sense all right Joan suppose you define it for us well money capitals money that's right but only partially right let me demonstrate here is a dime suppose I take this time and buy some ceramic clay now then my money which is capital has been converted into raw material which it logically follows must also be capital i mole this clay into a child's toy animal you would regard the energy expended by me as capital now when I finish I bake this clay toy in my oven of home this oven or any machine I might use in achieving the final product must also be regarded as capital then I add the final touch and sell this toy for 39 cents or at least I try to and if I should succeed I take the 39 cents reinvest it in clay and start the cycle again employing again all the farms which capital may take as raw materials as energy as machine and so on capital in a few words is money at work could do things and since I am in charge of the cycle I'm a capitalist yes well what if you have to borrow that money like so many businesses do to start that cycle then that makes the lender a capitalist too since it is his money at work producing something and he becomes a part of the cycle capitalism is a system in which emic well far capital is used to produce goods for sale or in other words to produce new wealth look professor gayness are there different kinds of capitalism yes there are and the differences can be vitally important state capitalism is often the first stage of socialism we might say that state capitalism exists when the government achieves a combination of ownership and goal in business and industry large enough to permit it to dominate the nation's economy and there are forms of capitalism in which production and distribution are governed by cartels or monopolies fixing prices and permitting no competition this farm existed in many European countries in the time of Karl Marx and during this century before socialism our communism gained control yes John and impart in fact that we must emphasize is that American capitalism is quite unique there never has been a system quite like it in all history so let's examine the structure of American capitalism there are three great pillars the first and foremost of these is who can tell us all right Louise isn't it the principle of private ownership of property yes it is this principle of private ownership is undoubtedly the most fundamental element in the structure of American capitalism consider for instance home ownership which is a bright American goal for most of our people the desire to own one's own home one's own property provides a real incentive for almost all Americans to bring out their most productive efforts and the American system what's yours is yours what you do with it is your business you can squander it away or you can work harder and produce more and have more the principle of the private ownership of property is the number-one target of the socialists and communists they believe in government ownership and control Karl Marx in the Communist Manifesto wrote the theory of the Communists may be summed up in a single sentence abolition of private property so private property is the foremost pillar supporting the American system and our personal freedom that brings us to the second great pillar who can tell us what it is all right marry the profit motive yes indeed this is the stimulus that brings private ownership to life and expands its usefulness to society as a whole in one sense profit is property when an individual produces more than the basic living requirements for himself and his family the surplus is profit which he can use as he sees fit an automobile is not a basic requirement for survival nor is a television set yet most American families want them and have them because all normal human beings want more than the bare necessities of existence the capitalistic principle of private ownership gives them the privilege of earning and keeping enough wealth beyond their food and shelter requirements to afford to buy the other things they want but professor gayness what about the individual who doesn't produce a product of his own what I mean is what about the employee the worker well you remember we said that energy is capital ability is capital when we as employees work for someone else we're not selling our time we're selling our services our ability when we get paid if we save a little of our income we're property and we can become employers if we wish and if we can develop management capabilities may of America's greatest industrialists were employees who saved and developed their capabilities if we do not develop into employers we still can become producers or capitalists by investing our surplus or savings in some enterprise which is producing something dr. Janus I once heard a clergyman say that the profit motive is not a good motive do you agree with him I'm sure the clergyman wasn't a socialist or communist but that happens to be what the Socialists and communists say about the profit motive and yet most converts to socialism and communism joined up because of the promise of personal benefit or profit where the clergymen be able to fill his church if he told prospective members that there is no personal reward or profit and giving one's life to God how many of you students study at dinner each evening instead of having the momentary pleasure of some favorite pastime I think you would want to say that study can be work what motivates you then a desire for learning the desire perhaps for good grades but with the belief that in the end you will render a more valuable service and receive more for it if you didn't hope to profit you wouldn't study what I'm trying to say is that the profit motive is active and most human behavior that's important to remember and now to the third of the three great pillars in American capitalism alright Gary the open market yes the open competitive market where anyone can offer his wares for sale at whatever price he can get is a benefit not only to business and industry but to the individual as well let's go back to our toy animal illustration let's suppose that we develop an ability to make attractive little ceramic toys and the children Automation want these toys we expand our enterprise probably on borrowed money and began making profit another toy manufacturer seeing our ceramic toys cutting into his sales in profit does some research and finds that he can make an unbreakable toy very much like ours and sell it for less money than we're getting at the same time making a profit he can do this because we have a free competitive market in America challenging achievement the consumer our buyer gains when we have this constant competition in the marketplace the best products at the lowest cost emerge so let's remember these pillars of freedom and progress when we here are see the socialist crying openly or secretly to undermine them these factors can be destroyed through subversion or through our own shortsightedness or apathy and defending them

  1. Just like the rest of the videos in this channel, this one is done with scantly research and hillbillies pretending to be smart.

  2. In capitalist society , You work for a company 20 years and they let you go like trash… Very ungrateful system… Money is used to decieve the human being…

  3. Brilliant American wisdom from Dr. Clifton Ganus of Harding University.

    See also,

  4. American Capitalism — When are people going to start WAKING UP to the reality about American Capitalism ? The truth is that American Capitalism is Pure Shiney Gold ! Why was Thomas Jefferson against Capitalism ? Correct answer … Thomas Jefferson absolutely was not against Capitalism ! In fact Thomas Jefferson was against Super Rich Crone – Capitalism especially that of Alexander Hamilton of New York ! Thomas Jefferson found Super Rich Crone – Capitalism so offensive that he had Aaron Burr kill Alexander Hamilton in a famous duel ! This had occurred not before Alexander Hamilton put down on paper in extensive detail the plans to make America a Crone – Capitalist country ! Ever since America has been made into a Crone – Capitalist Country ! Since the time of Alexander Hamilton America has been a Crone – Capitalist country ! Crone – Capitalism is NOT Capitalism ! With the cooperation of the United States Federal Government the American people have been greatly deceived ! When any one tells you that today we have Capitalism throughout America you can rest assured that that person has flat out Lied to you ! What needs to be done is that the Government of the United States needs to implement Capitalism in the United States which means that the Government of the United States needs to implement in total was has been set down in Print the entire document known as the Wealth of Nations authored by Adam Smith ! In this sacred treatise Adam Smith had outlined how to prevent Super Large Business and the Super Rich from bringing about Economic Monopoly and destroying the Free Enterprise System ! Adam Smith recommended that we place a super large 99% Tax on every dollar made by a single individual over an annual income of One Billion Dollars and that the Rich, Middle Class and Poor pay absolutely no Tax ! According to Adam Smith this would permanently empower the People of a Country and take away all power of the Super Rich Crone – Capitalists ! This plan of Adam Smith would empower Small Business, make America a land of permanent small towns and not big cities and insure a small central government for the United States ! This trend would implement the Transcendental Principals of the Christian Essenes ! The fact is that America was always intended to be a Transcendental Agricultural based country based upon the Neoplatonic philosophy of Plotinus ! It was the Super Rich Aristocrats of London England working with the Super Rich Aristocrats in the United States and the Big Banks that brought about the War of Northern Agqression known as the U.S. Civil War ! The purpose had been to permanently destroy American Confederacy and totally place America under the thumb of Super Rich Aristocracy through bringing about a large and powerful central government for the United States ! This is why Confederacy has been destroyed and this is why the Confederate flag with all that it has stood for has been destroyed ! This is why the America of today has gone from being a Spiritual centered country to a country of Materialism ! This is why America in truth today has been converted from once being a land of Freedom to now being a land of Dictatorship ! This is why Abraham Lincoln was assassinated and this is why John F. Kennedy was assassinated ! This has all been done via one Gigantic Conspiracy and Massive Brainwashing ! Best Wishes — Joseph Stefurak

  5. 1913 began the deterioration of American Capitalism with the Creation of the Federal Reserve. Woodrow Wilson's Administration collusion with the Rothschild Banking Cartel.

  6. "But professor, what about the people that continue amassing great wealth and live extravagantly luxurious lives when millions of other people cannot afford basic living standards?"
    Crickets Chirping

  7. American Capitalism was already doomed during the making of this video.  It was than, and still is banker capitalism. Where banks pervert capitalism through the fraud of fractional reserve banking.

  8. Capitalism is just a bogus religion that wants to take credit from what socialists created. For example Linux made cheaper smart phones and linux was made by socialist people.

  9. I love the automatic captions !!  Professor Gayness – right to burn their property –  Nice economy for toys, trinkets, and massages, not so good for food, drug, or technology safety.   Oh, that's right, here in America, we could give a rat's ass about safety.

  10. WOW you people are fucking stupid in here. Think about this idiots; If it was not for this system you would not be using your computer. It was private companies that brought down the cost and brought up the effectiveness of computers. This was all done though competition. Hell I'm using a new laptop which cost only 500$, which was possible by these software/hardware companies fighting for my dollar. Mind you also that fucking Microsoft was only able to succeed through a free market system.

  11. The free market is dead! It's global competition and underdeveloped shitholes are driving down wages and shipping out jobs protected by unions. i have a Master's and r onlynwork I found was a $9 an hour factory job

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