What is Capitalism? Capitalism Explained | Pros and Cons of Capitalism? Who is Adam Smith?

Have you ever wondered what Capitalism is? In this video, we’re going to look at a simple explanation of Capitalism as well as the pros and cons.

Capitalism is an economic system in which private individuals or businesses own and control the means of production, distribution, and exchange of goods and services. Under capitalism, the pursuit of profit and individual self-interest are the driving forces of the economy.

In a capitalist system, individuals are free to own property, start businesses, and compete with one another in the market. Prices are determined by supply and demand, and profits are reinvested into the economy for further growth. The government's role in a capitalist system is to ensure a level playing field for all market participants, enforce contracts, and protect property rights.

Sources:
"The Capitalist Solution" by Andrew Bernstein
"Capitalism and Freedom" by Milton Friedman
"The Wealth of Nations" by Adam Smith
Cons of Capitalism:
"The Case Against Capitalism" by Jerry Mander and Edward Goldsmith
"Capitalism: A Ghost Story" by Arundhati Roy
"The Communist Manifesto" by Karl Marx and Friedrich Engels

#Capitalism #politics #economics

[someguyusa]

Any economic model is subject to flaws and corruption. Corruption, that is people, is the main problem with any economic model. However, it is clear that some are more inherently resistant to corruption than others. So many things depend on the people behaving in a fair and just manner.

[sherrryann]

thank you! -other's YT videos on this subject were just all over the place & not usable. THIS video is helpful. 🙏

[_Pete.Maglakelidze]

Really loving your videos and I am getting myself more into them. While watching this video about Capitalism I was also writing some details that have been stated from this video and it has gave me some well informative stuff about this economic ideology. Thank you and I will be looking forward for more excellent content from you in the future.

[landon.wilkins]

Excited to see you still making content, keep up the good work!

[guycliche]

Never stop putting out cool videos like this!

[braziltokyoschool]

Great content. Thanks for the video!

The best social format ever. Attention, I didn't write the perfect one but the best one between those social formats that exist until 2024.

[quatele]

The most important aspect is not violating people's rights.

[Joe-xjtb]

Id like to see a video about WHY each part of kapitalism is - the reasoning for each topic of it

[spencercoots]

I feel like every single concept, notion, practice, ideal, program, and really everything, has busts and booms.

[NelsonGuedes]

Marx's philosophy is a little bit misrepresented here. He didn't argue that workers would revolt against the system, he argued that its demise was inevitable due to its very design.

[spacecats]

something that I find interesting is that the Boom and Bust Cycle is usually caused by more and more government interference in the market. Every time the government interferes in the market, it creates a bubble like the recent housing markets and the ones in the 2010s that eventually burst causing instability. The same can be said for the great depression where the government kept subsidizing the banking industry and promoting the early stock exchange.

[bickeya.j.m]

I wish you were my school teacher. I would have paid attention more. 👍

[kerwacify]

Grade 9 in Saskatoon says we like the drawings! It was very quick, but it stuck. The drawings made the information easier to understand. Bravo!😍🤩🤪😶‍🌫

[Zombiekiller]

I think that the employee exploitation and environmental impact could be seen on both sides of the capitalism/socialism coin. If the government controls the businesses and the environmental and labor policies they can do whatever they want to maximize profits. As we’ve seen many times over in communist/socialist countries, that profit rarely makes it down to the working man. I would also argue that in a capitalist society the people still have the power of boycott to keep companies somewhat in check. It’s not used effectively so much anymore because it seems that many people that complain about greedy corporations are also addicted to consumerism.

[_Pete.Maglakelidze]

Are you able to do one about Distributism? I like the way you explain things

[thomasboyd]

Capitalism is the best system when it uses a moral code! Any system with people is inherently flawed, but Capitalism allows for self determination and self interest. If I do what’s best for me and you do what’s best for you both parties win!

[yasok_us]

I read somewhere that Adam Smith said the capitalism would fail if there isn’t discipline which I fear that is happening in the U.S. I haven’t read his book so I’m not sure if it’s really written anywhere.

[dcollop]

Two things can be true at once. Capitalism causes economic growth. Capitalism also exploits the poor and causes inequality. It apprears that the Governments role if using the laissez-faire approach is to ensure low cost means of production. Eg, ensures that the working class societies remain destabilized.

[limeslyx-z]

Can't forget about things like the reserve army of labor - which actively prevents job creation; outdated ip laws - which incentive gatekeeping research and innovation forcing redundant labor; things like discrimination being reinforced and reinforcing the system - which strangles innovation; the fact that nothing profitable ever gets done unless done by government or small communities/organizations - for example the government made the smart phone and the internet; the fact that not everything good is profitable and not everything profitable is good - such as discrimination, workers rights violations, ignoring externalities such as food waste, union busting, climate denial - to be non-profitable is to be non-competitive, and to be non-competitive makes you an at-risk company, so when most companies make extra profit by paying their non-white workers less, the company that isn't is no longer competitive and has to pick up the slack, potentially needed to compromise their morals or risk going out of business. You see capitalism doesn't give anybody great freedoms, rather it binds all of us to obey the intricate system of Capital, business owners act in their best interests to keep their businesses running, and workers act in their best interest to pay rent, and all of this means the majority of people are going to suffer to give a minority extreme economic and political power. Also although Capitalism is supposed to work based off the successful reinvesting their wealth into the economy, those people don't have to, and can even choose not to - which is called a capital strike - and is useful for when the government does stuff those rich people don't like - displaying how even without paying money to government officials, the rich can still effectively control legislation and other political decisions.

[marvinwufbang]

The drawings / visuals in the beginning were useless. You basically read a text book definition of capitalism and drew some figures that took longer to understand than the speed of the video. Anyway good job, I don't think I could make a better video.