Capitalism: Refuting Unlearn Economics

Yet, another anticapitalist critique I have to respond on when it comes to capitalism. There is certainly no shortage of ignorance out there with regards to videos on YouTube from Breadtube and Unlearn Economics is the prime example of such ignorance you will come up against. Someone who likes to think of himself as intellectual but stupidly tries to correlate capitalism with that of collectivist systems.

It is important to make the distinction on individualism and collectivism and that capitalism has absolutely nothing at all to do with collectivism. The word antonymous means a word opposite in meaning of another word in the same language. It is a simple fact that capitalism is the opposite in meaning of collectivism, it is an individualist system and that evidence can be found everywhere.

The reason the likes of Unlearning Economics despise this fact is because individualism defines the free market, it does not define the corporatist system which we live under today, again, attempting to blame capitalism for what was never the fault of capitalism. This is no different to his erroneous claim in his video that wealth creation under capitalism somehow stemmed from imperialism and colonialism. This illustrates the level of dishonesty you're up against.

In his video he speaks at great length of complete nonsense, likes to say a lot, but says nothing, which is why he turned to the very Thomas Piketty of all people, a man who couldn't even get his dates right on the Great Depression as some sort of 'credible' source. If you wish to see Thomas Piketty being torn apart by two REAL economists, Thomas E. Woods Jnr and Robert P. Murphy, check this out: https://www.youtube.com/watch?v=aL90pISm7Y8&t=54s

His claims on the industrial revolution, yet again, illustrates how far these compulsive liars will go with making up things out of thin air, such as claiming that women were "subjugated" in the factories, or that people were 'forced' into working in the factories.

Behind all that lengthy rhetoric, ask him to show you where on planet earth you've seen a strongly government regulated private sector result in prosperity for the poor, in every instance it resulted in economic stagnation and soaring private sector costs. All monopolies, oligopolies and cartels alone owe its origins to state intervention in the economy, so regardless of whether he supports full-blown socialism or the mixed economy, he most certainly is never going to achieve this egalitarian utopia. As I've mentioned on equality, it's all nonsense, including the dangerous concentration of wealth in the hands of the few claim.

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