Economics: Capitalism, Socialism & Communism Explained



okay today I'm going to be talking about the economic ideas that were that grew up that that sparked in the 19th century that control our economies in the world today let's get started capitalism it was a theorized by Adam Smith a stylish economist who wrote the book called The Wealth of Nations what's the idea of capitalism economy works when supply and demand operates without government interference lays a fair – let alone or hands off where government has no control over businesses and the theory is let's go yeah buyers and sellers actor act in their own self-interests so businesses compete with others to produce goods as inexpensively as possible efficient producers make more profit hire more workers and expand this is the theory of capitalism consumers buy the best goods at the lowest prices because as a result of capitalism so more people started their own businesses and a cat in capitalist societies standard of living increased for many but not for all dissatisfaction with poor working conditions and unequal distribution now here's a fun fact did you know that the man who created monopolies created it to try to prove to everyone that in the capitalist society only one person wins as we can see nowadays in the Occupy Wall Street movement though the one-percent have all the money that the 90s that that the 90% don't have this is unequal distribution in a capitalist society so money so what is socialism it is the means of production is controlled by society in practice it's controlled by the government and the this means that the wealth is distributed equally among all citizens their pet and depend depending on how hard they work in a socialist society for example I'll give you an example of Sweden people pay very high taxes so they get free health care free welfare and all these stuff in a capitalist society that doesn't happen or at least not yet so the socialist leader socialism was theorized by Robert Owen he sought to replace competition between businesses with cooperation he attempted this in Scotland with great success but failed in the United States and this is evident if you go to the United States nowadays you'll find Republican and Democratic leaders saying say no to socialism in America fighting so and they fight socialism but what do they not what but what they do not realize is that the Social Security Act Social Security in essence and Obamacare is a form of socialism we could see nowadays that the cap and the capitalist society that countries are moving slowly towards socialism while still calling it capitalism but in essence it's not it's really not capitalism so what is communism the third type of economic of the economic system in this the picture here is of coral Marx who was the leader of communism he was German and he his his associate was Frederick and 'angels Marx wrote the Communist Manifesto with angles and he also wrote – Capitan risk it was the response to the in justices of capitalism communism is a form of socialism let us not make the mistake of calling it socialism but it is a form of socialism so what is its theory the theory behind it is that history advances through conflict conflict must happen so history advances and society is divided into classes you have the bourgeoisie which is the middle class and the proletariat which is the working class now in the communist society they don't like ruling class controlling production so they build a society in which the people own everything this is and this is because class conflict is inevitable you will always have conflict between the upper class and the lower class and that is why the communist society theory is brought up revolution is needed to make root the ruling class give up control in the Communist tree a theory there is no private property wealth is shared by all the social classes would thus vanish and when social classes vanish and everyone is living the same level knowing that their neighbor does not have more than them and they do not have more than their neighbor there would be no need for government because why would you kill why would you steal and why would you commit crime this is communism today this is just a funny you know in reality you have the communist leaders there abusing at because in a cap and a communist society a people um you can never have everyone rich no one is ever completely rich even though we try so but everything has to become gradual and communism today you have the government controlling everything like you have very rich people in government and very poor people in poor and everyone else or the working class is poor China now is moving slowly towards capitalism and actually let me restate that china is moving towards socialism which may which means that if you live in China and you work hard enough you can get make more money etc this was a presentation on the economic theories and ideas of the 19th century that are still enacted today in in countries all around the world Sweden Norway and Finland are all socialist countries you have capitalist countries like the United States and the United Kingdom and you also have the communist countries like China Vietnam North Korea and Cuba thank you for watching this video please subscribe and hit the like button down there also share if you if you liked the video and I hope you learned a lot today thank you




Comments
  1. Sweden is not socialist dumbass. Private enterprises everyshere the means of productions are owned privatly mostly. For example Cuba is socialist. What you call socialism is social-democracy. This video is compleate bullshit you honestly should atleast read the communist manifesto. Communism has never existed because money or the state hasent been abolished. I'm from Finland btw and it's just as capitalist as the US the small welfare we have doesnt change that.

  2. @Abraham Darwish Appreciate the video but I would like to mention something. The fact that everyone has equal does not mean that a government is not needed. Also, you said why would anyone kill, rob when they all have equal. Well, that is easy, people would do that so they can have more than others. This is based off of the human greed. Human greed knows no end and although controlled greed is a driving force behind ambition and sometimes innovation, greed has, does and will always exist. Humans lacking self-restraint will be driven to commit crimes in attempt to satisfy the yearning of having more and more. Capitalism at least provides a scope for having more through hard work.

  3. Communism and socialism breed freeloaders. That is the trade off for equal distribution of wealth/services. Capitalism is the only JUST system we have till date and that is why most countries follow various forms of Capitalism. Although, it is extremely important that the government not control/influence businesses except for passing and regulating employment laws. In my opinion, the best form is a carefully selected mix of Capitalism and Socialism.

  4. So when Obama bailed out the banks, that was a socialist Act since it was government getting involved? if he would have let them fail that would have been capitalism regulating the market?

  5. The history of the world is clear….. no other form of government holds a candle to free market capitalism in its ability to raise the poor out of poverty

  6. You sounds high in this video, anyway just to let you know, adam smith did not popularize capitalism, he was not a political, he basically popularized the concept of invisible hand, which keyneses describes last in his studies as supply and demand.

  7. Is communism even practical ? Does not seem. Either the definition lacks the major components to drive a state and its economy or its less understood by the interpreters.. I feel its an idea which needs to be added to other. Its seems more of an CATALYST then a compound itself, in a Productive pseudo chemical "REACTION"

  8. NOT really impress by your video.. especially end of it .  Scandinavia is NOT socialist, because there is private ownership of means of production even thou people pay high taxes . Idea of everybody equal is TOTALY stupid , unfair and against nature .

  9. India seems to have a blend of all 3. You can work hard become rich like a capitalism. Or pay for better services like socialism. Or maybe donate your money to the poor via a temple and charity work like communism.

    The government is socialist, the people are capitalist and the religion is simple enough to keep peoples values like communism.

  10. Sweden is NOT a socialist country. Rather we've been more successful when we went towards capitalism. And there are NO communist country and have never been. Not even North Korea. North Korea is a socialist country based on the Juche doctrine by Kim Il Sung.

  11. It sounds a little bit like you think Capitalism is bad. Equality in economics is rarely good when dealing with how much people get paid

  12. There's a new one that's coming soon "Trumpitalism" where trump forces other nations to pay america thus allowing 0% tax on people and businesses in the usa allowing for 1000% increase in Economy growth.

    to me all soicalists, commies, marxusts, and religious zealots are a diease to the betterment of mankind and it's quest to improve itself

  13. Capitalism was not theorized by Adam Smith as he never used the word to describe the political economy he was taking about. You could call it the "free market" or "free enterprise" but it not capitalism. The word "Capitalism" was first used by William Thackeray in 1854 to refer to the financial sector. Smith was describing a system that would be called today the "productive" sector. The financial sector, rather than enable the productive sector, is rather parasitic to the productive sector.
    Thus "Capitalism" and with its usury hinders rather than advance the productive sector and in no way represents free enterprise.

    Marx on the other hand co-opted the term Capitalism to smear the productive sector with the evils that usury has on the economic system because Marx hated the middle class that free enterprise enables. Thus the reason why Marxists desire the confiscation property. Marxism is grounded in envy and the confiscation of property to pauperize everyone so that there would not be a middle class of people who can rise through their own ability.

  14. And Sweden is not completely socialist. Most of their businesses are privately owned. They just have higher taxes which enable more social programs.

  15. And capitalism is less about no government intervention and more about the means of production and wealth being privately owned. Laissez faire does propose no gov intervention at all, but realistically this has never truly been put into practice.

  16. Capitalism is much older than Adam Smith. It's been around realistically as long as their has been private trade.

  17. Sweden is not a socialist country. And neither is any other North European country. In countries like Sweden workers dont have control over the means of production. Theyre still in private ownership.

  18. 6:30 – hang on you said communism there was no need for government yet here you say the government is rich? So which is it?

  19. you say socialism is 'society owns means of production', and Obamacare is an example. Does that mean doctors are owned by or work for the government?

    You also say "society" = "government", but that assumes the government is 'of, by, and for the people'. So you believe the US gov't is 'of, by, and for the people'?

    You say in Communism, everyone shares the wealth equally. The examples of communism you give, china, cuba, there's great divide between the very wealthy and everyone else. That seems to contradict your definition of communism.

  20. AHAHAHAHAHAHAHAHAHAHAHAHJAHAHAHAHAH THE FUCKING DEMOCRATS SAYING NO TO SOCIALISM, DOES NO ONE KNOW BARACK OBAMA???????????, LYNDON B. JOHNSO??????????????, FRANKLIN D ROOSEVELT???????????????????? THEY STARTED WELFARE IN AMERICA AND ENDED THE CAPITALISM IN AMERICA THAT WAS THE ONE THAT MADE ALL MIGRANTS BE ABLE TO ENTER THE MIDDLE AND UPPER CLASS

  21. HAHAHAHAHAHAHAHAHAH FRIENDS THE MONOPOLIES AND THE 1% HAS HALF OF ALL NATION'S WEALTH IS A MYTH IN CAPITALISM, THAT OCCUR IN THE 08 CRISIS, BUT THAT WASN'T CAPITALISM, FIRST THE FED AND CLINTON CREATED THE BUBBLE THAT BUSH INFLATED BY PROVIDING DOWN PAYMENT IN HOUSING, YOU SAID THAT (NO GOVERNMENT INTERFERENCE), SO THAT WASN'T CAPTILISM, IT WAS SOCIALISM, BUSH "TRIED" TO HELP PEOPLE GET A HOME THAT IS NOT CAPITALISM AT ALL, THAT CORPORATIVISM, THEN THE BAILOUTS, THAT NOT CAPITALISM

    THE BAD DISTRIBUTION OF WEALTH WAS BEEN CREATED BY CORPORATIVISM, NOT CAPITALISM, WE HAVENT SEEN CAPITALISM IN THE WORLD SINCE HARING WAS LEADING AMERICA, HOOVER AND FDR ENDED CAPITALSM AND STARTED A TOXIC MIX

  22. Wait r u sure u didnt get stuff wrong. Marx theorized communism as a hypothetical utopia or so ive heard.

  23. this video and your comments has made me understand that people do not know what comunism is and that this is one of the major reasons for them rejecting it.

  24. I know of no county that is 100% Capitalistic nor Communism (even North Korea)
    Public health care and other stuff is just "left-wing" Communism means that every company/factory and so on is owned by people (read: government)
    And China is not Communistic either. They have it's own system. Only county that was close was USSR. Althu they screw it up.

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