Coronavirus: Comeback for socialist economics? | COVID-19 Special

The economic crisis brought by the coronavirus pandemic has driven businesses of all sizes - as well as individuals - to rely on governments to help them through. Even once proud corporations have found themselves begging for bailouts, paid for by the state. With vast numbers of jobs dependent on the survival of businesses, some governments are now all that stands between their citizens and destitution. But will the pandemic also have a lasting impact on our economic system?

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[vikz]

Don't know if socialism's making a comeback but definitely neoliberalism is having an aneurysm.

[ElisabethArana]

Sounds familiar: "PRIVATIZE PROFITS AND SOCIALIZE LOSSES"
So far, all of these companies have lived like millionaires in a luxury bubble and now, after just 2 1/2 months of losses, they need WORKING PEOPLE to help them with their tax payments. Even people who have had 2 or 3 mini jobs to survive have to help them keep living the way they used to! In exchange for WHAT?

Don't let the rich tell you top down economics is the answer. It is a SCAM!!! The best way to get the economy running again is from the bottom up. If people get the money they will spend it. They will pay their bill and the capitalist will then find a way to sell other things to them. Some help to small businesses may be needed but the big corporations do not need it.

If any money goes to businesses then they MUST keep their employees on the payroll. If they lay them off then no money for them or they have to immediately return any funding they got.

[ralphbernhard]

Too many are just one paycheck away from disaster....

[dwnews]

Unlike some conspiracy videos here on youtube we cannot provide all the answers to the coronavirus pandemic. But if you write down your questions here we will try for sure! #askDerrick

[markselvin]

Why is this presenter smiling and so happy - probably cuz he's still got his job

[samchat]

When you make merry chant Capitalism and when in crisis, cry Socialism. That's the new mantra !

[siddharthb]

Socialism for the rich, capitalism for the poor.

[bierrollerful]

unchecked capitalism: when you remove subsitence agriculture for food and replace it by subsistence income for money and end up with neither

[otohora]

Social welfare isn't socialism, get a dictionary

[chresszweipunktnull]

State support during emergencies are appropriate, but the free market has to come back afterwards to help people get back up

[pakde]

When American taxpayers inherit multigenerational debt to prop up failed banks and other investment houses that have been allowed to grow until they are "too big to fail" the economic model can hardly be described as capitalism.

[TBHNotGonnaLie]

The pandemic just showed the flaws of capitalism

[comradeboris]

Why not Just nationalize all bankrupt private companies? That would bring prosperity to the nation and save the workplaces.

Only downside is that billionares would not have their companies anymore because if nationalized they would bring profit to the community and not to one rich individual. If that can be called a downside at all.
I mean not like billionares gonna starve.

[UniversalDanceBerlin]

the history of humanity and economics tell us that right after a crisis or recession, came always a revolution into socialism and human rights... nothing new! welcome socialist wave! hope you are here to stay and we finally understand that capitalism is a finite system which is not self-sustainable on time, specially when the resources are all gone and in times of crisis

[johnwang]

The thing is any socialism introduced to mitigate the problem will undoubtedly be temporary measures. People are in general not in favour of reinventing an economy from scratch. I still think we won't see effective socialism till we have independent space colonies in O'Neill Cylinders, Bernal Spheres and Stanford Tori's, where socialism could be justified for actual physical survival.

[papercat]

People keeps trying to separate capitalism from socialism. But actually these two effect each other through the history. Socialism idea can be incorporated into capitalism. That’s just truth. Karl Marx was suppressed by evil capitalist therefore wants to get rid of capitalism and create a fair world. So the original manifesto was very extreme. But nothing wrong with the idea of bring in a bit of equality into the capitalism society. There’s many terrible capitalism state in the past. Democratic socialism also make sense. Karl Max was genius whether you hate him or not.

[hopeforbetter]

Capitalism with a social conscience would be the best solution!

[Liitebulb]

If countries weren't capitalist they would not have had the back up money to stay off work for 6 weeks, or unemployment funds.

[joanweightman]

No the tax payer should not bail out aviation or motor industry. We need to reduce the carbon emissions and this is the fastest way to reduce travel. better to use the funding to encourage eco industry now. If flights get more expensive they will cause people to travel less often but for a longer holiday. Tourism would work so much better. This is the best chance ever to sort some serious environmental issues.