Capitalism vs Socialism: This Changes Everything

hi bravetuber here today we’re talking about capitalism versus socialism capitalism and socialism a somewhat opposing schools of thoughts in economics The central arguments in socialism versus capitalism debates are about economic equality and the role of government socialists believe economic inequality is bad for society and the government is responsible for reducing it via programs that benefit the poor. Peterson has to say about Marxism well it’s partly that he’s recycling old Cold War stuff mr. Peterson seems to be stuck and he’s stuck with one of the oldest kinds of arguments imaginable telling us that we should not be interested in Marxism in fact it’s kind of immoral in his words to be interested in Marxism in view of what Stalin did Mao was a bigger monster than Stalin and that’s that’s impressive you know because there’s Hitler there’s Stalin and there’s mouth and of the 3-mile was probably the worst he’s still revered in China maybe that accounts for their affinity for North Korea which could still destroy us all the remnants of that horrible state maybe a hundred million people died in China during the Great Leap Forward that’s a hell of a leap forward well maybe it wasn’t a hundred million you know maybe it was only 40 million but as I said before when you’re counting in the tens of millions your points already made and then there was Cambodia and the killing fields and bulgarians East Germany and Romania and the Democratic People’s Republic of Korea that’s North Korea and Vietnam and Ethiopia Hungary etc etc etc was never a successful on the other hand capitalists believe that the government does not use economic resources as efficiently as private enterprises do therefore society is better off with the free markets determining economic winners and losers the us is widely considered bastion of capitalism and large part of Scandinavia and western europe are considered socialist democracies however the truth is every developed country has some programs that are socialist. an extreme form of socialism is communism so come to think of it, what is socialism and capitalism? capitalism is a theory or system or social organization based around a free market and privatization in which ownership is ascribe to the individual persons. socialism is a theory or system of socialization based on the holding of most property in common with actual ownership ascribed to the workers the philosophy behind capitalism is this: capital is owned operated and traded in order to generate profit for private owners or shareholders. Emphasis on individual profits rather than on workers or society as a whole no restriction on who may own capital. from each according to his ability to each according to his contribution. emphasis on profit being distributed among the society or workforce to complement individual wages does that sound familiar? of course, if you live in the US the SJW or social justice warriors must have struck you at some point or you are one of them either way you’ve heard of the ideology. the idea behind capitalism is the laissez-faire which means “to let it be” I’m not fine opposed to the government intervention in economics because capitalist believed it introduces inefficiencies. A free market produces the best economic outcome for society. government should not pick winners and losers. on the other side of the spectrum socialists believe all individuals should have access to basic articles on consumption on public goods to allow for self-actualization large-scale industries are collective efforts and thus the returns from these industries must benefit society as a whole. under capitalism all individuals make decisions for themselves Truth be told, people make the best decisions because they must live with the consequences of their action. freedom of choice allows consumers to drive the economy. Under socialism religion jobs and marriage are up to the individual compulsory education free equal access to health care and education provided through a socialized system funded by taxation production decisions driven more by States decision than consumer demand. one of the central arguments in economics especially in the socialism versus capitalism debates is the role of the government a capitalist system is based on private ownership of the means of production and also a creation of goods or services for profits a socialist system is characterized by social ownership of the means of production proponents of capitalism espouse competitive and free markets and voluntary exchanges instead of the forced exchange of labor or goods, socialist advocates greater government involvement for the opinions of supporters differ in terms of types of social ownership they advocate, the degree to which they rely on markets versus planning how management is to be organized within economic enterprises and the role of the states in regulating processes to ensure fairness. capitalism has a few criticisms these are: capitalism is criticized for encouraging exploitative practices and inequality between social classes. In particular critics argue that capitalism inevitably leads to monopolies and oligarchies and that the system’s use of resources is unsustainable in Das Kapital one of the most famous critics of capitalism Karl Max and French Friedrich Engels claim that capitalism centers profits and wealth in the hands of the few who use the labor of others to gain wealth the concentration of money and capitalism can lead to the creation of monopolies or oligopolies. As postulated by British economist John Maynard Keynes oligopolies and monopolies can then lead to oligarchies which means government by a few or fascism the merging of government and corporations with monopolistic power Laissez faire capitalism, I suppose that’s a French word? espoused in 19th century us business growth did reach the point where monopolies and oligopolies were formed which gave rise to antitrust laws trade union movement and registrations to protect workers critics such as which Rd wolf the man who tried so hard to debunk new despotism yeah critics such as which ideal wolf and environmental groups also stated capitalism is destructive of associate esports natural and human as well as destructive it to economic stability though this is actually considered applause in a creative destruction facet of yourself she shall treat us the unplanned almost chaotic factors of a capitalist economic with intercessions unemployment and competition are often seen as negative forces as defined by historian Greg Brandon and economists Immanuel Wallerstein the destructive nature of capitalism moves beyond workers and communities to natural resources very positive growth and profits turn signal or overwhelm environmental concerns willing to imperialism as in the works of blood meal Leni capitalism is also seen as a destroyer of cultural differences spreading a message of sameness across the globe the undermines or drowns out local traditions and mores socialism also has its own fair share of criticisms critics of the shell ISM tend to focus on three factors the loss of individual freedom rights in event inefficiencies of planned or controlled economies and the inability to establish deconstructs socialism psoriasis are ideal based on long-term growth and prosperity plant or consult economists recall of socialist states have fared poorly Austral economist Friedrich Hayek noted that prices and production quotas would never be adequately supported by market information since the market in the socialist system is basically nonreactive surprises or surpluses only to shortages this will lead to irrational and ultimately destructive economic decisions and policies Ludwig von Mises and the Austrian economists argue that rational pricing is not possible when an economy has only one on our goods that’s versus city-states all the government as this leads to imbalances in production and also in distribution because the shell is impose a community over the individual the loss of freedoms and rights is deemed undemocratic at best and also totalitarian a tossed Objectivist philosopher and run stated that the right to private property is a fundamental right for if one cannot own the fruits of one’s Lovaas then the person is always subject to the state’s assimil arguments raised by supporters of capitalism and therefore often by critics of socialism is that competition considered using human traits cannot be legislated away without undermining the will to achieve more uh not without proper compensation for one’s efforts the incentive to do well and be productive or more productive is taking away socialism is often criticized for tenets that are not socialist brother communist or hybrid of the two economic systems critics point out that the most socialist regimes are failed to deliver adequate results in terms of economic prosperity and also growth examples cited range from the former USSR to current regimes in China North Korea Cuba most of which where more want a communist end of the spectrum based on historical evidence from communist governments to date extensive famine severe poverty and collapse are the results of trying to control an economy based on 5-year plans and also assigning people to jobs and tax as if the country way machine rather than a society a common observation about particularly restrictive socialist or communist economies is that the eventually develop classes it’s government officials as in rich a fringe like middle class and a large lower class composed of workers which supporters of capitalism are often quick to point out are the same structures to shall ISM as shoes as exploitative capitalists are capitalistic and market-based societies are beacons of freedom fighting themselves on committing social and economic freedoms not experienced under communism and fascism the focus is on individualism as opposed to nationalism while stratagem is a movement of both the worker and middle class all for a common Democratic go thanks for watching please like this video if you like the video subscribe to this channel she would like to stay in touch but stay up to date and please do leave a comment also share if you will work you can and let’s hope YouTube doesn’t push this video away thanks again this is beauty

  1. Q: What is the difference between the capitalist system and the communist system?

    A: In the capitalist system, MAN exploits MAN. But in the communist system, it's the other way around.

  2. Capitalist philosophy is the only non-racist philosophy on earth. That's why it's my favorite. Racism to fix racism is and always will be a very bad idea.

  3. Consent is the base principle of capitalism. Socialist organization can exist in a capitalist system.
    The threat of force is the the base principle of socialism. Capitalism cannot exist under socialism.

  4. Marx claimed that "Capitalism puts wealth in the hands of a few…" Well, Socialism puts all wealth in the hands of one- the dictator at the top who will CRUSH anyone who complains they do not have enough food to feed their kids. Give me Capitalism, any day over Government ownership of all means of production. Where is the motivation to succeed under Socialism? There is none- the hardest worker gets the same as the laziest! That is not right, it isn't moral, and it isn't realistic—why do you think all Socialist countries are financial basket cases? Prime example is Venezuela.

  5. Government is about managing taxpayers money responsibly not just providing for everyone equally. That would be Socialism. A dead ideology.

  6. African accent so strong can hardly understand a word he's saying. Should learn English to higher level before making such videos.

  7. Maybe a translator would've been a good idea! I'm just saying your opinion/observations could be understood if English speaking people were able to UNDERSTAND wtf you are saying.
    Think about that smart guy.

  8. Socialism is such a nice idea but successive regimes everywhere have show it does not work. The power of the individual is all that matters it is as simple as almost every person can make the best spending decision than any committee or political group.

  9. I am not watching this video because this channel has an agenda. And this topic is so old. Chestnut: in capitalism man exploits man, in socialism the reverse is true. Why do I bother.

  10. I'm Australian and I don't speak French, how ever the last time I visited France, it was frightening.You have a huge immigration problem, sorry but I'm not going to spend thousands of dollars to step over migrants sleeping on the pavement.

  11. Btw … I have no idea where this joker gets his definition of socialism… it is gobblement control, not this asinine notion of workers sharing stuff. The second notion is marxists propaganda to exploit the greedy nature of man to sell this bull manure (eat the rich!!!). It relies on idiots forgetting that there is nothing to share if there is no capital, or are we all farmers now?

  12. The thing is these people arnt interested in the working class taking control of the means of production ( marxism) but in the middle class taking controll of capitalism and destroying it with their incompitence in some king of benevolent tryanny.
    These are cultural marxists, Frankfurt School, who use identiry potitics in their oppresion arguments.

  13. It is not a theory smart guy! Capitalism works, has been used since the dawn of time, and is most equitable to humanity. Socialism cannot provide equity but rather the opposite. What happens when power is concentrated at the top with socialism? Nobody ever wants to add the human aspect into socialism. Socialism sounds great until everyone that tried hard to make it in life get so pissed they are paying for the losers to live. The people at the top will always fight to remain in control and corruption then runs rampant in an unchecked socialistic system. Also, how can you possibly plan for all aspects of the economy without creating a mess? Venezuala?

  14. You have to be stupid on purpose to believe that socialism is both better than capitalism and more moral than capitalism. Bottom line is god came up with capitalism. Satan came up with socialism

  15. I couldn't understand him and I thought it was too long a video to watch and read captioning for. Plus in my experience YouTube's captions are poorly done and I find that really annoying. But please forgive my vulgarities, I meant no disrespect to your channel or the narrator.

  16. To reach for great future you need constantly to be reminding about our past and learn about our past. Without understanding past there is no future.
    Because of people like you past is being pushed away!!! And our living is the example.

  17. Peterson seems to be stuck on the gulags and all the people who died because of the totalitarist marxist back in the day, nothing much honestly you should forget about all that and give marxism another try…

  18. It is ok to add subs, but you should be the one making an effort to be at least understandable in the language you are trying to speak. Just a thought.

  19. Also if the narrator could get the marbles out of his mouth? That would be great.
    Enunciation is key. Especially if you are speaking in a language that isn't your native one.
    Mumbling and slurring words together makes you incomprehensible.

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