Capitalism Vs Socialism | What is the difference between Capitalism and Socialism?

Capitalism Vs Socialism | What is the difference between Capitalism and Socialism?

This is an unbiased comparison of the two economic systems, Capitalism and Socialism. I give a quick overview and compare their goals, main ideas, income, and talk about what Capitalism and Socialism look like today and which major countries utilize each system today.

#CapitalismVsSocialism #Capitalism #Socialism

[IllustratetoEducate]

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[c_soto]

Norway Sweden and Denmark, all consider themselves to be Capitalist

[badwolf]

Personally, I think that a mixed economy of both socialism and capitalism works best. Everything is better in moderation.

[mrpuff]

The Nordic countries are not socialist. They are practically the same as the US. The only difference is they get more government benefits

[mrmateojones]

Norway, Sweden, and Denmark all three hate when people call them socialist

[QueasySkate]

This guy is so good at going over controversial topics without getting canceled or hated on, because even the slighted bit of bias will send him down, good job!

[najlepszekiwi]

"Socialism only works in two places: Heaven where they don't need it, and hell where they already have it" - Ronald Reagan

[milliondoller]

Great video by the way. Sweden, Norway, Denmark are not socialist countries they are in the same sense as Great Britain and France they have social programs but still a capitalist economy

[crazywaiter]

This video deserves more attention. I feel like the more people who watch this, the less susceptible they are to being brainwashed.

[dimetronome]

The difference between socialism and capitalism has to do with who owns the means of production and NOT how much government involvement there is in the economy. There are statist and libertarian versions of BOTH capitalism and socialism. In fact, some forms of socialism (like anarchism) are in favour of completely abolishing the government.

What all forms of socialism have in common is that the means of production are collectively owned, which could mean either democratic control by the workers or authoritarian control by a centralized government. What all forms of capitalism have in common is that the means of production are privately owned for profit, which could happen within a free market or an authoritarian nation.

Also, Norway, Sweden and Denmark are NOT socialist -- they are social democracies, which is a kind of regulated capitalism and mixed economy that is between capitalism and socialism on the spectrum.

[jas-jrrv]

best most unbiased video on this i've found yet. finally starting to get it!

[historyheadz]

Homie you did a very good job with this. I'm Sub'n and putting this in a playlist.

[MindSurf]

So many people on both 'sides' need to see this video. Everyone throws around the terms without defining what they actually mean by them, and without realising they already live under a hybrid system.

[MrCovi]

1:06- Factually inaccurate. I don't know why people always describe public education or public healthcare as socialist. There is a vast difference between social programs (a program paid for socially, aka by the government) and socialism (by its own definition: "the collective/social OWNERSHIP of the means of production"). It doesn't take that much effort to look up a definition. Just because they both have the word 'social' in them does not mean they are the same thing, anymore than cart and carpet are the same thing just because they both have car in them.

This fundamental mistake permeates the rest of the video. For example at 2:50 it declares that Norway, Sweden, and Denmark are "generally considered socialist." But they're only "generally" considered socialist by Bernie Sanders. The leader of Norway even came out and publicly stated that "Norway is not a socialist system, we are a capitalist haven with the lowest corporate taxes in all of Europe. We have some well funded social programs but that is not the same thing. And we would appreciate it if American politicians stopped calling us that."

Whether this was just a lack of research because he was confident in things he'd heard from the media/politicians, or whether this was intentionally misleading, I can't say. But given the amount of genocides and famines that have happened in ACTUAL socialist countries over the last 120 years, this false definition is the equivalent of saying "Nazis are the National Socialist Workers party of Germany who followed Hitler, and also are anyone who voted for Bush in 2000." It gives the ACTUAL Nazi's an easy out by saying "oh no, I'm not like the bad ones, I'm like the ok ones."

[cooterbaby]

Norway, sweden and Denmark are NOT socialist, theyve gone on TV to clarify that.

[theicyridge]

Oh dear, socialism is not government and capitalism is not markets. Socialism is all that pertains to worker control of production and the working class getting all the wealth it produces--including democratic worker-owned businesses and cooperatives--while capitalism is specifically a division of workers and owners.
Colin Bruce Anthes is the clearest on clarifying the difference:

[kartikafitrianingsih]

Thank you so much! So easy to understand! <3

[kiwikiwi]

Thank you for making this video. I think the topic of how socialism has affected both major and minor nations should be another video. It's an essential lesson

[joughnut]

The idea of socialism is wonderful, but, due to human nature, is impossible to pull off

[confused]

Far Left vs Far Right essentially boils down to "Seize the means of production" vs "Seize the means of reproduction"