Capitalism, Socialism, or Communism?

In Episode #9 of 2 Minutes with Pat: The Olympic podium is used as a metaphor to depict the different forms of economy. Which one do you believe creates the most innovation, leading to a better economy?

[BredouAlbanBrice]

Capitalism=Freedom...that summarizes why it's the form of economy that creates more innovations.

[jonathanhernandez]

I believe capitalism creates more innovation and competition. It allows people to be creative and think big

[davorboro]

i live in ex Yugoslavia, and I'm watching your videos and reading books i can get at the moment and one day make my business

[nobertstanel]

Got to show that explanation, to someone. Thanks for sharing.

[matthew-oxzx]

In capitalism everyone has money to live but some have alot more than others.
In communism everyone is equally poor.

[Iamonlymeandnoother]

They all have their benefits and I don't think any country is entirely Capitalistic or Socialistic. I could be wrong though. I do however believe that Capitalism provides the best value for the economy, maybe not necessarily the public as a whole but the world is what it is because of the innovation and creation that came from capitalism

[jag]

Combination of Communism and Capitalist society  will be beneficial for the modern era, the ideology of marxist limits the exploitation of the working class, where having a private sector of capitalist keeps the countries economy running. Example of this is China, who are leading towards the biggest economy of the future and yet maintain a great standard of living in contrast to other big nations such as India, where poverty and human exploitation is extreme and the gap between rich and poor is increasing. The theory of communism creates stability for the whole nation and the intellectual use of capitalist creates innovation for growth.

[fnaticMSIloom]

Human will always evolve no matter who it is. Be Steve Jobs, Walmart etc, there will always be something that will replace the ones that existed already. Empires fall, the new ones will rise!

[clarkbolding]

Once more I'll draw on "Think and Grow Rich". It talks about how capitalism encourages collaboration because there is profit to be made by all. If you equate the economies to abundance and scarcity. Capitalism is abundance, socialism is disguised abundance and communism is scarcity.

[rockYhre]

I think capitalism is best for innovation, growth and occasional crashes where everyone panics how bad capitalism is and socialism/communism are best for shit (I lived in one).

[keltonfedor]

Video 7 done - I believe capitalism leads to a better economy, this is do to the competition it provides. Olympic athletes work hard to beat the competition, without anyone to beat there is no desire to grow. The world would survive without walmart, mcdonalds, etc. Simply because there is competition that would take there places.

[johnrolfson]

Opinion: Capitalism gives us the largest markets to sell that which we would like. It also allows fair chances for everybody. Anybody can start a business under capitalism. This may be true under socialism, but less control is given to the people. The government can take away your business at any moment. When the people have the control, greater things will be accomplished by them.

[jainilpatel]

Lesson 8 | Capitalism, Socialism or Communism?
If the philosophy of these economies were put into the Olympics,
[Capitalism] would have 1st place, 2nd place, 3rd place.
[Socialism] would have 1st and 2nd place.
[Communism] would have no place; everyone is equal.
- Which do you think is better for the world, would we know about Apple, Microsoft and McDonalds if their CEOs were born and raised in a country such as Russia?

[estebanmorales]

My opinion is that we should make a new type of government. One in which people dont lost their jobs, where problems are acru5ally solved

[germaintremillon]

PBDSRTW like your explanation of the three economies .. very true.. socialism is non sense as it kills people's dreams and ambitions because the gap is tremendous and with tax level to finance socialism it makes it damn hard! That does not encourage people to work at all..

[albertbpc]

Creativity of the human race is needed in order to evolve all those old or standar forms of economy and create a new one with the best part of those three and even with that, mantaining the flexibility needed to make the changes and adaptations needed every single time than those changes or adaptations are demanded by humanity, not only society.
Sometimes when I think about that as an individual I see that for make that kind of arrangements in one's life, that person needs to stop everything, stop devolopement, stop progressing in his life to make some changes for a while and once that is done, that person is capable again to keep moving on, more fresh, with new devolopement ways and another perspective of progressing.
But when I think about this in "mass terms", a huge collective concious is needed to stop billions of persons lives to make some arrangements to this system, to this economy, to this society.
But the most important one: to make some arrangements in humanity.

Sorry for my english
Cheers! :)

[buckledealer]

The answer is always capitalism. The reason is that even if Steve Jobs, Bill Gates, and Sam Walton never came to a capitalist society, then someone else would have taken their places because of the very nature of capitalism. I would confidently suggest that there are many people in other types of economies that have not been able to reach their full potential because they are restricted by the economy they live in.

[_wid]

It is true that capitalism is good for growth and innovation but it is a system that based on rich and poor categories. Maybe it's symbolize freedom for some people but for other it's a trap ( espacialy for the extreme poor people ) because rich people tend to have more and more and the poor one tend to have less and less ( pareto law 80/20 rules ) as long as we are in this system the wold will never be peacefull . Innovation is good for humanity i agree ! But capitalism is just the best worst choice !

[andreanni]

Episode #7 - I think capitalism works the best because it allows people to think big and it provides freedom, competition and also the reward.

[yvonneruvinski]

3 different sorts of economic systems. Which one creates the most innovations? Capitalism, because Capitalism allows millions of
innovations to be constantly rewarded and punished by the market.