Capitalism vs Socialism

Join Julian Jessop in this week's IEA Podcast as he compares real-world capitalism to idealised versions of socialism, shedding light on common misunderstandings about economic systems. Discover why capitalism often emerges as the preferred choice in the face of practical considerations. #Capitalism #Socialism #Communism #Marx

[toddoverholt]

Just because there aren't any better alternatives did not mean we need to enshrine our system on a pedestal and pretend like it's perfect and doesn't need any changes

[chriskule]

WHY do wealthy people expect less wealthy people to fight wars to protect their wealth? Their status? It's a rhetorical concern, so make the most of it.

[socoman]

"Real world socialism"? You mean like Finland, Sweden, Norway, Denmark, the Netherlands? Places that have almost free medical care, education, guaranteed government pensions? Finland was just ranked as the happiest country on earth.

[ameliabrittain]

It’s easier to imagine the end of the world than the end of capitalism.

[a_diamond]

Isn't this coming from the same folks who have championed such hits as "trickle down economy", union busting, and prioritizing ultra short term profit over sustainability, reasonable working conditions, a lack of reasonable alternatives by companies pretending to be their own competition, companies demanding personhood, and the simple viability of the environment we live in?

Because.. that seems a lil Utopian too, and the folks who get hurt by the lack of constraints and accountability are our own families.

I'm not "pro-socialism" but people living in social democracies seem to have a better standard of living, working, and taking care of workers *after* they are no longer fit to work..

Limitedless unconstrained capitalism is just as dangerous as any other unlimited unconstrained system. It is too vulnerable to the same dehumanizing exploitation, corruption, and any of the atrocities that have happened under real world examples of socialism/Marxism.

Real life isn't ever as simplistic as people like to pretend. Turn off Sesame Street, and take a look at most Americans' financial situations and the inequality valuing dollars over lives has wrought.

Stop looking for simple answers to complex questions by demonizing those asking the questions to begin with.

We can do better than this.

[sherlogic]

I find it funny that we only seem to be allowed to talk about 2 words and it’s always disconnected from the death and destruction that we could actually create solutions for. But it’s always easier to think the adults already solved everything and you’re allowed to just exist in it happily.

[probablysomedingus]

Spoken like someone who’s never defaulted on a medical bill.

[harenterberge]

Whereas social democracy actually proved itself in practice and a true free market is as much a pipedream as ideal socialism.

[FreeWorldSpirit]

Not because it's the best but because it's fairly uncomplicated. Easier to redirect blame and not take accountability. Other forms of economies it's tougher to do this. Currently in the US the government blames the companies, the companies blame the citizens, and the citizens blame the government. No one takes accountability and it allows the fat to get fatter and the sick to get sicker.

We already have a blended economy but the socialism part covers companies while the capitalist part applies to citizens. We need to help people not businesses. If a business isn't run well we should let them fail, there's always another company in the same field.

[realspen]

Essentially, this is exactly what Walmart, Amazon, Tesla, and these multinational corporations want to think exactly.

[ernststravoblofeld]

Capitalism works for a tiny few, every time. Socialism works best for the average person every time.

[hansombrother]

Wrong, we have socialism for rich people and capitalism for poor people.

[realspen]

This guy just pisses me off in so many ways

[aaronm.v.]

Something tells me he just doesn't know what those words mean😅

[emjay]

Which country is “real world capitalism?”

I’ll wait …. 🙇‍♂️

[PRWN]

not only is this a dumb argument, but capitalism has done its best to stifle all other forms of government that contradict a 100% free market system

[RichardFraser-yt]

We do not have capitalism, if we did then the banks would have failed in 2008.

[FirstLast-Area]

Dude looks like every uk cop ive ever seen 😂

[igmncmy]

Renewable income where the profits of our national systems go straight BACK into our countries finiancal hub

[kimg]

Not every time - the west has plenty of social elements - which all modern nation state has - Africa have far less.