Debunking Myths About Capitalism—Why Capitalism is Better Than Socialism

In this video I carry out the argument debunking myths about capitalism, again, you hear these arguments commonly by socialists, funny enough, the baseless claims that @Viki 1999 makes against capitalism proves why capitalism is better than socialism as the arguments she complains about actually describes that of her own ideology.

It's no different to the baseless claim that capitalism is responsible for the expensive costs of goods and services or for why monopolies exist, again, this being to blame on all the socialist government interference in the market.

I provided an argument in the past on the antitrust law myths which you can find here: https://www.youtube.com/watch?v=HC9KNt8-T4g

You can also check out my videos on the Economic Calculation Problem below.

*Profits and Losses:* https://www.youtube.com/watch?v=mVbbFVKWdhI
*Extended Explanation:* https://www.youtube.com/watch?v=Zjzofn0qzQ4

This destroys the argument Viki claims that capitalism results in overproduction creating waste and as I have explained, government subsidies that result in inefficiency have nothing to do with a capitalist system. The examples of the 19th-century show the damage socialist government interventionism cause to the economy. Again, socialism creates a problem in the economy and capitalism gets the blame for it.

The arguments I have provided, again, describes precisely what socialism turns out to be in practice, which is laughable to say the least given the fact socialists love to target capitalism over such things despite the fact socialism is responsible for the problems. An example would be the soaring inflation caused by the fractional reserve banking, I guess that is the price one pays for opposing the free market (capitalism). This is why capitalism is better than socialism because unlike socialism, capitalism doesn't lead to the 1 percent elite like they claim it does.

All the arguments socialists make are all baseless and they never have any credible arguments to fire back with, instead, they merely state something as if based on truth and hope for the best that people fall for it. Just like the erroneous claim that capitalism leads to oligarchy and the few possess everything and command the economy. Again, socialism creates this problem resulting in corporatism, yet despite this fact, socialists like Viki continue to blame capitalism.

Maybe if we got the government out of the economy and left it be to the open free market economy we wouldn't have these problems. No one has ever claimed that there would ever be such a thing as an economy without exploitation, corruption, etc, but at least under a capitalist system, it can greatly reduce and limit these problems to a minimum, unlike socialism.

Again, socialists claim capitalism results in exploitation, yet they want people to work for absolute no wage to work endless hours on certain tough jobs that are required in the economy, especially dangerous jobs.

By opposing the free market economy (capitalism) you are inevitably faced with the economic calculation problem which is something Viki, like all other socialists, doesn't understand. Again, if people are going to critique capitalism, first get to understand what capitalism is first before going on a tirade to make such baseless claims.

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