Hello everybody in this video I will tell
you why I think that capitalism is bad and
why it has to be replaced.
There are many ways to approach this.
One of them is equality.
Capitalism is a very efficient system when
it comes to creating a lot of wealth.
Unfortunately, it’s very bad at distributing
that wealth.
Pretty much all of the value the economy generates
only benefits the top few percent of the population.
That being the major shareholders.
Another approach would be wasted time.
Capitalism actually doesn’t produce as much
stuff as it needs to produce, it makes way
more, like up to 40% more.
The reason for that is complicated.
I have a video on that if you are interested.
But take it that we all could work less with
the same pay if we stopped overproducing quite
as much.
Next is that capitalism isn’t good at distribution
of resources.
In Europe and America there are millions of
tonnes of food waste while 8 Million people
starve each year.
And yea I can blame that on capitalism, I
have a whole video on that as well.
Next capitalism promotes oligarchy.
Since competition naturally leads towards
monopolies the market always ends up centralizing
power among the few.
Those few then have more wealth and power
than the rest of the population which makes
it easier for them to bribe politicians or
gain other unfair advantages.
Capitalism is also undemocratic, all of the
decisions of what and how much to produce
an where to sell it for how much are made
mostly centrally by big corporations.
The MC Donald’s management in the USA decides
how much I have to pay for a cheeseburger
in Vienna and I don’t have any democratic
control over that whatsoever.
And all of those faults are just the obvious
ones which I don’t have to explain further.
Now we come to the most interesting one.
Capitalism is just employers legally stealing
from employees.
Let me elaborate on that.
This is a production process.
This guy has a machine which takes in raw
materials and outputs a product but it has
to be operated by someone and since this guy
isn’t gonna do it himself, he hires someone.
Let’s add some numbers.
Our resources have a price of let’s say
50 plus another 50 for rent or electricity
as well as part of the initial cost of purchasing
the machine.
The worker works it and produces a product
that has a value of 200.
The employer then gives the employee 50 as
a payment.
Big deal right?
That’s how it works.
That’s not what theft is, dislike.
Okay wait a second.
Let’s look at that work process again.
We had 100 in initial costs, then the worker
worked and then it had a value of 200.
Using basic math that leads me to conclude
that the work of the worker had a value of
100 because that’s how much value he added
to the product.
So, looking at a return/investment chart it
looks like this.
The employer invested 150 of which 50 went
to the worker and the rest went towards upkeep
and raw materials.
In return he got a finished product with a
value of 200.
The worker on the other hand invested 100
worth of labour and received 50.
So, one got more than they invested, and one
got less.
And if we keep going we realize that all of
the profit this guy makes is value he didn’t
pay his employee.
Now you may say “okay.
Maybe it’s stealing but it’s not like
there is a better system” and if that’s
your response I give you the homework to come
up with a better system and tell me how it’d
work in the comments.
Or maybe you are saying “No you are wrong
because you skipped over some details in order
to save time and keep the video short” and
if you say that please keep in mind.
That even without stealing capitalism is still,
unequal, wasting time, letting people starve,
promoting corruption and undemocratic.
Have a nice day.
