Social Democracy: Why Social Democracy Doesn't Work—Keynesian Economics Part 1

In this first part video I explain about social democracy and why social democracy doesn't work, which is Keynesian economics. Much like Marxists, Keynesians fail to comprehend there are trade offs in the economy that can lead to disastrous consequences.

I have covered briefly on social democracy before on the brief history and some of the things that social democrats believe in, as well as explaining why it eventually results in people crying out for more socialism here:
https://www.youtube.com/watch?v=fVSSjtd9yvs

For the purpose of this argument, it isn't so much about where it eventually leads, but similar to full-blown socialism, it inevitably results in monopoly creation. One of the arguments is on unemployment and wage suppression, again, this is part of the consequences social democracy is faced with as a result of introducing socialism into the mixed economy through socialist government interventionism.

There is a lot of information out there on the industrial revolution, the argument, therefore, for social democracy is erroneous given the fact that not only was the British industrial revolution anti-capitalist, in many regards, despite that, we still saw improvements in material wealth. I've argued before that things are a question of scale and economies perform better off the freer the economies are. As social democrats would argue, they try to accredit the state for the improvement in people's living standards when nothing could be farther from the truth.

Finally, we can clearly see from what Keynesian economics caused resulting in the banking crisis through the reckless printing, borrowing and spending via all the failed quantitive easing, leading to legally protected fraud that not only did corporatism thrive as a result of this and put the poor and small business people at a disadvantage, it led to the economic recessions and economic crash of 2008. This proves that Keynesian economics is far from stable and is why social democracy doesn't work.

You can also check out my video on why Keynesian economics doesn't work that explains more in detail:
https://www.youtube.com/watch?v=LZabl3MGQl4