What “efficiency” means under capitalism

Is capitalism an efficient economic system? How? Compared to what?

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[TreeHairedGingerAle]

I seriously need this video playing on every billboard on the face of the Earth.

Capitalism is the most inefficient way to do anything, the only thing it helps is itself

[sl-lzdw]

"Competition has led to virtual monopolies and oligopolies in pretty much every market. Aside from all the help they get from the state, which is instrumental, competition necessarily produces winners and losers. The losers don't just come back and try again next year, like in a soccer league, it's more like if the losers joined the winning team, and the winning team could now field 22 players at a time. The more successful firms attempt to bankrupt or acquire their rivals. They keep growing until they forge close relations with The State. 'Too big to fail' as it was called in 2008, to justify a trillion dollars in bailouts... and their domination of the market can no longer be challenged... so while the theoretical perfect competition we learned about in economics class might be efficient, no one knows. What we have is oligopoly. Is oligopoly capitalism efficient? Compared to what? Cooperating and sharing as equals? Seems unlikely!"

You Nailed It Chris! This is such a spot on illustration.

[PetuniaOnDaBeat]

"your socialism is another persons neighborliness"

[DeepCognition-iubv]

Reclaim the commons! Reclaim the gift economy!

[fickogames]

I have no idea where I have heard this but:
"If capitalism is allowed to exist endlessly, its end state, the most efficiant world, would be two computers, infinitly running, constantly trading between one another, meaningless numbers and meaningless stocks until one of them finaly loses a trade and is turned off"

[jab]

A guy named Anark did a good video responding to An-Caps. He made some good points, one of which is that an An-Cap society would be a hell, pretty much (controlled by a few corporations and their vast armies).

[piotr_jurkiewicz]

we're all last in the capitalism given long enough time

[gunkwretch]

Capitalist Food Baron: "whaddya mean I am wasting food by throwing so many perfectly edible groceries in locked dumpsters!? That creates artificial scarcity which drives up my prices, but I dont have to actually pay employees to sell the food to make that profit, so its VERY efficient for me!"

[gregorymalchuk]

I lean conservative but am extremely concerned that worker productivity has exploded since the 1970s, but median wages are stagnating and declining. Also the quality of manufactured goods like appliances and cars has gone way down and are virtually unrepairable.

[CyclicCipher]

Imagine if that bleach was used to clean surfaces instead of poison excess food so poor people can't eat it... that bleach might have helped people by improving sanitation.

[cemotazca]

Viva la Revolution, down with capitalism

[evilryutaropro]

The clear cutting a forest probably lowers to the total wealth (think flood protection, oxygen, wild animals, disease prevention etc) in most contexts but forests are fungible so by cutting them down oligarchs can have more options with extra money to spend even if the net wealth decreases.

[BrickGriff]

"Efficiency", "innovation", "scale", "merit", etc etc etc. Everything they say capitalism does is either false or bad.

[a.jzz]

Fantastic video! I’ll definitely be keeping up with what this channel has to offer

[UserName]

I'd have loved the times when people still made their own clothes.

Nowadays it's a cheap mass production of clothing in 3rd world countries, just so the people in the first world get more profit out of it.

Today's society also reflects this. Nobody is wearing decent clothing amymore.

[meditationMakesMeCranky]

@garyeconomics has a great quote about this, "capitalisms is great at giving people WITH MONEY what they need"... if you notice that people with money want more money, then all of this is obvious

[roberthornack]

I always ask people where is the humanity in the word "Capitalism" opposed to socialism or communism & they just shrug.

[gamezswinger]

Great talk, as usual. Keep em coming. 👍🎉

[swojnowski]

Good job with this one! I do not believe people, especially those who know capitalism will start sharing again, they are too scared they will have too little for the future. There is another way to have for the future, and the way is, buy less, buy much less, buy from your neighbours, from local producers, buy from small shop rather than supermarkets. Systems die of lack of maintenance. Lack of maintenance in the case of capitalism means refusing to buy as much as they invite you to do. i have taken some extra steps online too. I do not comment or contribute in any other way to cloud capital either. This is an exception to my rule. The hardest thing when listening to an someone is not to comment it, but it prevents polarization and in terms of platforms lowers their profits. Try that, at whatever ways you look, less is more. Less is what capitalism hates, it kills it ...

[camillapalmer]

lol you came up as a little invisible angel on my shoulder today when my sons speech pathologist asked ‘I hope you don’t mind me asking but who did you vote for last weekend?’ Referring to our local election in regional Australia where voting is compulsory. ‘I didn’t’ I replied. ‘I think I’m actually an anarchist’ and his nervous laughter was so worth it. ‘Not a violent one’ I said after a moment of awkward silence. ‘Well not yet anyway’ 😅😂