Capitalism NOT Corporatism: Second Thought Debunked

Much like a previous video I made in response on Joe Scott's erroneous claims about capitalism, I was asked to respond on Second Thought and have debunked his argument on capitalism. Capitalism is NOT corporatism, It is incredible despite the clear definitions provided even in the dictionary how many people refuse to accept this fact.

As the dictionary states about capitalism:

"an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state."

It is very clear of what it means, for there to be private owners for profit rather than by the state doesn't just mean the separation of private ownership to that of nationalisation, but is in reference to the private sector being left be to regulate itself rather than being controlled by the state.

This reference is given by the following dictionary definition of capitalism:

"an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market"

Second Thought seems to think that the soaring costs of education, healthcare and housing is somehow to blame on capitalism, but ignores all the government intervention throughout the course of a century-long period that has crippled the economy in soaring debt. As I noted in the previous argument in response to Joe Scott's argument, I covered the damaging impact of the interest rates being controlled and much like the subsidies, yet again, capitalism gets the blame for what is not capitalism.

Second Thought's video, to correct in my video, got more than 92,000 likes, I could say I am astonished, but sadly, it is of no surprise. Countless people sadly do not understand economics. I blame that on the state education system as well as the mainstream media. Countless droves are being lied to on a daily basis and no one ever stops to question the validity of such false baseless claims, much like that of the wider gap between the rich and poor, the famous 1 percent myth like Second Thought makes in this video.

I covered previously on the Robber Barons Myth which you can check out here: https://www.youtube.com/watch?v=e_Izbn5j_9Q

Also on the anti-trust law myth:
https://www.youtube.com/watch?v=HC9KNt8-T4g

You can also check out both healthcare videos I did which explain on why American healthcare costs got out of control and on the Direct Primary Care system here:

• https://www.youtube.com/watch?v=SHR7FlRrhAU — costs
• https://www.youtube.com/watch?v=V-c2uPAoh4Q — solution