Capitalism vs Socialism—Dr. Richard Wolff Debunked: Part 4
In part 4 of this argument of capitalism vs socialism on Dr. Richard Wolff's argument, I cover his concession on wages and living standards and point out his inherent contradictions through the failure of socialism that was to blame on lower wages across the world. Dr. Richard Wolff argues that capitalism in the West is to blame on other countries left with such poor wages, rather, the opposite is the truth and as we have saw from India, China and various other parts of the world, they have been improving.
I would like to mention, however, that countries like India still have some way to go as they are strongly corporatist, thus, the reason why their economic growth is struggling. On the argument of capitalism vs socialism, however, you can see that the freer the economy becomes, the better off the economy proves to be.
As Second Thought asks 'Is the State Your Enemy?' I covered much of his erroneous argument in the first part as Second Thought doesn't understand the state, his assumption that the role of the government is somehow to be the provider, but is deluded to believe that the state will be subservient under any form of collectivism.
In this second part I address more on the argument for why the state will not serve you and the differences between promises politicians make to that of what economic reality will allow.
Second Thought likes to claim to be 'altruistic' and as always, no different to the Left claiming to be champions of the poor, everything moral.
I also address on the argument on the Scandinavian economies which time and time again are misrepresented by the political Left, especially when it comes to healthcare and the happiness index. One must remember that what he's calling out for here is a far cry from his other videos shouting to overthrow the private sector and usher in full-blown socialism. It shows the logical fallacy of the Left, the inconsistencies and contradictions, it is why they will never have a credible argument because economics and history is not on their side.
The history of governments have shown to abuse the rights of the people. Just about the only thing I agree with Second Thought upon is the unjust wars through wasting money on war intervention overseas when money could be put to better use. Second Thought seems to believe morality and altruism is theft and coercion, forcing society into a collective group to pay for others and literally spying on how and what other people spend their money on. This is the biggest reason socialism is so deeply flawed, not only is it a disastrous failure, it really does sum up the Orwellian nightmare. Any normal decent person will value their privacy, therefore, their liberty.
If you haven't seen the first part video, you can check that out here:
https://www.youtube.com/watch?v=hFn6BnhTrwI
Lobbying: (0:00)
Economic Reality: (0:48)
Consequences: (1:22)
A Concession: (1:37)
Forced Altruism: (2:17)
The Enemy: (4:08)
Incentives: (4:27)
Socialism is Totalitarian: (4:41)
Collectivism: (5:10)
Peoples Interests: (5:47)
Trying to Control: (6:24)
Funding Contradiction: (6:40)
Economic Calculation Problem: (7:09)
Human Rights: (7:32)
Happiness Report: (8:32)
Scandinavian Socialism Myth: (10:08)
Big Pharma: (12:31)
Libertarianism Vindicated: (12:58)
Free Stuff: (13:22)
U.S. Education: (13:47)
Transparancy Dealings: (14:01)
Guaranteed Theft: (14:48)
Living Like Kings: (14:58)
'Real' Altruists: (15:20)
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https://www.youtube.com/watch?v=xLc_QdKYwRU
As always, socialists love to project and make up baseless claims as they go along, Vaush being no exception to this as he persistently makes up nonsense about capitalism and even goes as far as to redefine the entire meaning of slavery. Funny enough, everything he describes relative to what isn't freedom just happens to apply to his own sick minded ideology, socialism in the real world.
Freedom has nothing to do with slavery and as I've stated numerous times before, you cannot for the life of you take away the freedom of an individual to owning their own property, nor taking away their individual rights only then to pretend you stand for liberty. The fact Vaush goes as far as to completely negate the fact you have the freedom to up sticks and leave a company tells you everything.
His argument that the business owner has total control ignores the fact it is his private business, that's a bit like walking into someone's house and trying to dictate to them in their own house how they should live or what you can do. As usual, no concept of private ownership. Also, without private property rights it is impossible to have personal ownership of possessions, it's the private property rights that outline and define what you own, a fact socialists seem to think they can bend to redefine the entire meaning of socialism because they know that to concede to communal ownership and central planning is the indefensible.
You cannot on one hand claim you stand for liberty, only then to try and control people and try to take away their freedom of their own rights and what they can or cannot own. Even his argument of positive freedom is erroneous, collectivism is a contradiction of everything freedom stands for, the attempt to try and create the equality he dreams of ends up creating the opposite, but more importantly requires control which is the antithesis of liberty.
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https://www.youtube.com/watch?v=kuImxqfTiKI
Throughout the BLM protests it has only helped to clarify why the mainstream media cannot be trusted and helps to solidify my argument of its use of indoctrination.
You will have no doubt noticed a large drop in people who trust in the mainstream media especially after the whole Brexit fiasco and with the constant ramming it down our throats of how we will "crash out" of the European Union and a political class who were hell bent on destroying our democracy for their self-gratification, it only furthered the divide between the establishment and the people.
Having watched the Black Lives Matter protests in the United States and here in the United Kingdom, you could see how heavily swayed in favour of Black Lives Matter whilst singling out and targeting protestors who protect their historical statues as being "right-wing thugs" or on the "far-right." The thing that infuriates people like myself is that Black Lives Matter as an organisation is at its roots, Marxist.
Nothing on this planet caused more grief and killed more people than that of socialism, the media expects us to kneel to appease the Black Lives Matter crowd mixed with the violent ANTIFA, meanwhile, patriots and veterans alike are painted as "far-right thugs." If people cannot see how pro-leftist and anti-Libertarian and Conservative the mainstream media are and why the mainstream media cannot be trusted, well, I don't know what to say.
You can also check out my arguments in the previous parts:
*Part 1:* All Lives Matter
https://www.youtube.com/watch?v=xPSgHBKejFs
*Part 2:* Statistics and What Does Black Lives Matter Stand For
https://www.youtube.com/watch?v=Aa3psDxHexE
*Part 3:* The Cultural Revolution
https://www.youtube.com/watch?v=rdtbHK4QcrM
The mainstream media sorely needs change and a solution to that problem would be a free market and is why I would support the privatisation and defunding of the BBC, that way it would force them to work for their money, at least then they would serve the people. Real change needs to take place and I wish instead of people putting so much of their energy into calling to defund the police that they would put that into defunding the mainstream media.
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https://www.youtube.com/watch?v=vI2eAqk4Xrw
Supply and Demand is something important to understand when it comes to prices in the market as the supply and demand curve is what determines prices. The law of demand is not something that we can choose to ignore and when it comes to Socialists they seem to think they can, this specific Socialist (Communist) I debunked on Supply and Demand is a boy called RedScare TV on YouTube.
The law of demand tells us that a lack of supply with increased demand will lead to higher costs; likewise the increased supply of goods leads to lower demand thus lower costs. Someone trying to ignore the law of demand is like ignoring the law of physics which is not something we can do, you can't walk off a cliff and expect to float or go up the way. Supply and Demand relates to many things and in the example I give in this example is pretty clear that from the increased production of the cars, the more there is to go around therefore the lower the costs.
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https://www.youtube.com/watch?v=okQWOn4zJSE
Education today is so heavily ruled by the state that I feel independent learning is something vastly important. It is important that with the education system heavily ruled by the state for kids to have an independent mind and to question everything with which they learn. In this video, I give my own example on education and my thoughts of independent learning.
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https://www.youtube.com/watch?v=P9WFn7Re60k
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A response on Rose Wrist relative to the market versus planned economies in relation to do with the argument on the economic calculation problem.
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https://www.youtube.com/watch?v=lTPO3mJ7bGk
Supply and demand is something vitally important to the operation of any economy, in this video I tackle debunking PoliDice on his ludicrous claims on Austrian economic theory explaining why Keynesianism doesn't work, relative to why supply-side economics is irrational.
Whilst supply-side economics may sound reasonable, much like Keynesian economics, it rejects the market being freely driven by consumer demand. As I have explained, without the demand side of economics from consumers, you have no way of knowing prices, therefore, no way of knowing;
• what to produce more of and what to stop producing.
• where to allocate scarce resources and where not to.
• what to invest more in and what not to.
• and even how much to produce.
It is not as simple as just increasing aggregate supply, you require the information of prices to rationally calculate what it is you need to produce more of, what resources to use and where to allocate those scarce natural resources, without that information given to the market by consumer demand, you have no way of knowing this.
This is why Keynesianism doesn't work, it leads to surplus waste problems and the misallocation of valuable scarce resources, therefore, the economic calculation problem doesn't just apply to Marxism, it applies to all mixed economies.
Demand is something Keynesian economics defies, Keynesian's don't understand that demand is not something YOU create by producing anything, demand is natural and constant and in order to meet demand, you need to know the needs and wants of the people, if you don't understand this, you cannot possibly operate an economy efficiently.
This is why Keynesianism doesn't work, likewise, for why supply-side economics is irrational. I guess the only thing I could agree upon with the supply-side is deregulation and lowering tax rates does benefit the economy, but again, if you do not determine prices through consumer demand, simply producing for the sake of it produces waste if you don't understand consumers demand.
Keynesian's, for this reason, are much like Marxists, they believe in playing God with the economy. Even with supply-siders, even if having the good intentions, much like Keynesian's, to increase aggregate supply, you cannot afford to waste scarce natural resources as there is not enough to go around everyone.
Value is what consumers demand for, not producing anything and throwing it out there in the market to raise GDP and for all the resources you waste in one area of the economy, those resources could have been used to better use to better improve the material standards of living of people in other areas of the economy.
Again, thinking that the government somehow knows better for people's needs and wants over there of the market itself is comp
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https://www.youtube.com/watch?v=GOuLqp-s8V8
In part 2 on the economics of climate change, I cover more on why capitalism is better than socialism to prove the point that the answer isn't to overthrow capitalism, but to move in the direction of capitalism, to open up the free market economy.
Capitalism gets the blame for so much under the sun and it's easy for people to misinterpret what capitalism is just by listening to the likes of Naomi Klein or Noam Chomsky, etc, but what they reference to as capitalism, is actually corporatism, otherwise known as cronyism and that's NOT capitalism.
This is why climate change is anti capitalism because people think that what we live under today is capitalism, they don't comprehend the difference between a private sector in a free market economy (capitalist system) to that of a private sector subsidised and strongly regulated by the state.
Mexie is the prime example of the common climate change alarmist who pushes the anti capitalist agenda and holds a strong anti capitalist mentality. The typical Marxist who misconstrues what capitalism is and thinks profits are merely just a means to filling your pockets, whilst completely ignoring the benefit the consumer gains in exchange for what they pay in hand. I have covered previously in response to Mexie and will no doubt do another response on more of her arguments.
I also cover some of the other myths, such as on the melting ice and on the claim of a decline of the polar bear population, again, there is plentiful information out there that refutes these climate change alarmists narrative, the purpose of my argument was to clearly point out their agenda and even if there was global warming, socialism would lead to disaster and my arguments prove this very point.
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https://www.youtube.com/watch?v=BkKYuUg3N1o
In part 1 on the Industrial Revolution, I touch upon the living conditions during the industrial revolution debunking the myths relative to both Victorian Britain and the United States throughout the 18th and 19th centuries.
There are countless myths you could go through, such as the myth of the rich getting richer and poor getting poorer, or about the monopolies and the dangerous concentration of wealth in the hands of the few. I have covered the Robber Barons myth in refutation of another YouTuber which you can check that video out below along with the antitrust myths.
Robber Barons Myth: https://www.youtube.com/watch?v=e_Izbn5j_9Q
Antitrust Myth: https://www.youtube.com/watch?v=HC9KNt8-T4g
Much of the information I must give credit to the Mises Institute with many great scholars as I named in this video, are as follows:
• Thomas E. Woods Jnr
• Robert P. Murphy
• Thomas J. DiLorenzo
• Robert Lefèvre
• Ralph Raico
There is plentiful great information out there covering the industrial revolution and in this part 1 I mostly covered relative to Victorian Britain living conditions during the Industrial Revolution. The strong critique of capitalism and of living conditions improving was Edward Palmer Thompson, a British economic historian and socialist. The work Ralph Raico cited from was E. P. Thompson's 'The Making of the English Working Class' from 1963.
You can watch Ralph Raico's full argument on the living conditions during the Industrial Revolution here: https://www.youtube.com/watch?v=IdXj6tnvdZA
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https://www.youtube.com/watch?v=WfpQ2RcybKk