Name: The Real Pandemic: Ignorance of Capitalism Part 2
Uploaded: 2021-02-03T22:20:15+00:00
Duration: 34 min 40 s
Description: The real pandemic we face today is the ignorance of capitalism. Aljazeera perfectly illustrate the level of ignorance we face up to when it comes to the study of economics. Although I left out the arg

4 years ago

The real pandemic we face today is the ignorance of capitalism. Aljazeera perfectly illustrate the level of ignorance we face up to when it comes to the study of economics.

Although I left out the argument about individualism, time and time again it is ignored that there is no _'type of'_ capitalism, capitalism is the only individualist system that exists. To correlate capitalism in any shape or form to collectivism is to correlate it to socialism. You may as well call a socialist type of capitalism the mixed economy, even then, a socialist type of capitalism is an oxymoron and is more appropriately called corporatism. Capitalism is not corporatism.

I respond on filmmaker and activist, Astra Taylor, who misconstrues capitalism with the corporatist system we live under today, especially on bailouts and American healthcare costs; economist, Aditya Chakrabortty who strangely things socialising losses and privatising gains is capitalism, as well as economic sociologist, Linsey McGoey who clearly doesn't understand, not only the laws of supply and demand when it comes to the price of goods and services, but tries to blame capitalism for the price gouging today during a period when there are shortages.

Like I have noted, there is no perfect system, capitalism is not perfect, but it is the capitalist system that best deals with this problem through consumer choice and fierce competition which we live in the absence of.

Intro: (0:00)
Projecting the Blame: (4:16)
Prices Explained: (6:11)
The Crisis: (7:27)
Inequality Myth: (10:22)
American Healthcare: (11:37)
Profits Explained: (16:35)
Investments: (18:24)
Price Controls: (19:21)
Charity: (19:59)
Taxation: (21:56)
Private vs Public: (23:21)
Price Gouging: (24:11)
The Bailouts: (25:56)
The Confusion: (27:35)
Resource Efficiency: (28:40)
Utopian Beliefs: (30:00)
Collective vs Individual: (30:56)
Outro: (32:00)