Why Every Country Ends up Capitalist

Capitalism is the system that has helped the world become infinitely more wealthy than it has ever been in human history, but there are problems. A disregard for the drawbacks of production like waste, pollution and inequality are often cited by people who want capitalism to be replaced by social democracy, communism or even anarchy. But even communist countries like the USSR and China have reluctantly returned to capitalism. So, is capitalism inevitable?

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[uss_]

There’s a trope that goes “It’s easier to imagine the end of the world than to imagine the end of capitalism”

[SigurdVolsung]

>"Land can't be created"
*Laughs in Dutch*

[eliorbilow]

I'd like to see that video about Georgism.

[mondodimotori]

People tend to forget pollution was a big issue even in non capitalist nations.
It's a byproduct of industrialization, no matter the economic system in place.

[raymondwood]

I'd love a video explaining the pros and cons of a land value tax and how it might work if implemented

[shubhmishra]

Putting incentives at right place can do wonders

[Ithirahad]

Human rights can (and will!) erode under any economic system if the power dynamics go wrong. My biggest third concern is not so much the erosion of 'hard' human rights like freedom from unnecessary cruelty, freedom of movement, the right to privacy or the right to informed choice, but more the erosion of the human experience in general. While prosperity has technically continued to increase, some really questionable lifestyle consequences have emerged from commodifying people's attention and every last second of their time in general.

[oleksandrklochkov]

People tend to oversimplify complex issues to the confrontation between socialism and capitalism

[benjaminbate]

I for one would love to see a video on Georgism. Land Value Taxes have some very interesting properties, and seem to perhaps address some of the excesses of capitalism you mention here. As you say, making land taxes the only tax (as Henry suggests), is unlikely to be a solution. But as someone who lives in a big city on a small island, I can see everyday how land taxes might encourage more constructive investment and improve local communities.

[Donthaveacowbra]

I think for me the issue is we have outwardly capitalist individuals arguing you just got to capitalist harder when we don't have good support for that. Nearly every economy is mixed and what we have accepted is that past a certain point, regulation is always needed as no market remains "free" after a certain point. This idea that someone will just innovate a solution is one that does not understand our level of development. No one is manufacturing some new thing in their garage that can outcompete fiber optic cable. There are barriers to entry now that are just not feasible. Even with a good idea. This is so true now that companies that do purport these hyper innovative ideas are usually at best, under delivering, but more often just complete frauds. Looking at you theranos and basically every Kickstarter.

[RagaarAshnod]

Should do a series like this for all of the major economic systems. Let's look at communism, socialism, and anarchy; now that we have capitalism.

[evilpanky]

YOU MENTIONED GEORGISM! EXCITEMENT! THANK YOU! Please, make a dedicated video on it! LVT+CD & Pigouvian taxes really ought to be in the public discourse!

[chja]

A full video on Georgism is a great idea! Such an important concept with so little good content for the uninitiated.

[tthien]

It's just weird that the dichotomy between capitalism and socialism so often boils down to free market vs full-on government control of the economy. Is it so hard to imagine a market where companies operate through collective ownership of capital and profits rather than having a single person/family own the entire means of production? Coops are a great example of how this principle can be applied within a free market system without any domineering overreach from government.

[analogbunny]

When I lived in Hong Kong I quickly realized that the Chinese are probably the world's biggest capitalists. They practically live by the Ferengi Rules of Acquisition. Never mind the reigning political party or the official line on their governance model. Maybe it's something to do with massive cultural impact of Confucianism, but there's a core intrinsic understanding of value and exchange and whether something is worth your time or not. Federal level governance and how people make decisions in their own lives really can go in separate directions.

[royalstygian]

The same reason why everything always evolves into Crabs

[andyjblosser]

Thank you for mentioning Georgism. When I describe my economic views people often call me a Marxist, and when I explain, "No, I follow Georgism" they look at me as if I invented a new word off the top of my head. Somehow Henry George has been almost completely forgotten.

[Waitwhat]

I'm surprised you didn't mention Unions in the discussion of labor. Selling labor as a larger collection is a great way to better leverage certain types of labor on the market. Another interesting case study on this topic that I would love to see a video on would be the Mondragoon cooperative in the Basque region of Spain, seeing what a worker owned market economy looks like in the modern market.

[robertalaverdov]

I don't want an end to capitalism. Just an end to state subsidized monopolies. The problems we encounter today are in most part due to government and corporations working together to crush the common people. To consolidate wealth in an elite few through skewed regulations, byzantine tax laws along with the use of the law and the justice system to crush competition.

[dalegaliniak]

This was awesome, could we get a video on some economists ideas on how to "fix" capitalism in the modern world? You touched on Georgism, but that seems to apply to primarily land ownership, I'm curious about the labor aspect. Thanks!