What's Wrong With Capitalism: Economic Efficiency and Rich People Part 4

ContraPoints argument in the video what's wrong with capitalism, shows that there is a clear misunderstanding of the difference between capitalism and corporatism, furthermore, ContraPoints doesn't understand economic efficiency and the benefit the rich people provide to the economy. The problem with today's economy that I didn't touch upon isn't the fault of rich people, it's the fault of the economic system in place that both rich and poor people take advantage of and is not their fault.

ContraPoints fails to comprehend GDP and why it is not a marker for economic efficiency, as I have pointed out in examples of Norway and the Soviet Union, both prove the point that a high GDP doesn't necessarily mean to say that an economy is efficient.

If you would like to learn more on John Davison Rockefeller and the benefit he brought to the American people in the late 19th century, be sure to check out my other video here: https://www.youtube.com/watch?v=e_Izbn5j_9Q