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Three common myths of capitalism

Three common myths of capitalism

American economist Dr. Jeffrey Miron defends capitalism answering these questions:
1. Is being pro-business and pro-capitalism the same?
2. Does capitalism generate an unfair distribution of income?
3. Was capitalism responsible for the most recent financial crisis?

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Guest: (3744 days ago)
he's speaking in a purely theoretical sense. Academically speaking the theory of capital markets is exactly what he says .. but it never works exactly like that in practice.
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he's speaking in a purely theoretical sense. Academically speaking the theory of capital markets is exactly what he says .. but it never works exactly like that in practice.
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Guest: Antisamit (3744 days ago)
Like communism.
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Like communism.
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Guest: (3745 days ago)
I think this guy genuinely believes what he says although it is quite likely that he is being deliberately deceptive. He doesn't however seem to understand that capitalism can only work via large privileged (debt issuing) institutions that need to control public perception to protect their privilege. Because of this capitalism ultimately descends into chaos as no one operates with a realistic picture of how the world works. Capitalism is therefore anti-science.
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I think this guy genuinely believes what he says although it is quite likely that he is being deliberately deceptive. He doesn't however seem to understand that capitalism can only work via large privileged (debt issuing) institutions that need to control public perception to protect their privilege. Because of this capitalism ultimately descends into chaos as no one operates with a realistic picture of how the world works. Capitalism is therefore anti-science.
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Guest: iknowlessthanyoudo (3744 days ago)
Thanks to the efficiency of capitalism, people 50 years hence will suffer even higher unemployment than today. Capitalism will provide computers more powerful than the human brain for under $1,000. Such computers will be connected to androids that are more agile than a human being. Human labor will be cost ineffective. Global power will go to the country with the most robots per population.
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Thanks to the efficiency of capitalism, people 50 years hence will suffer even higher unemployment than today. Capitalism will provide computers more powerful than the human brain for under $1,000. Such computers will be connected to androids that are more agile than a human being. Human labor will be cost ineffective. Global power will go to the country with the most robots per population.
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Guest: Kerry (3743 days ago)
He is completely correct on all points.Minimum wage and regulations are what drives jobs overseas and adds to unemployment.With out Govt. intervention CEOs taking huge profits would not be tolerated.ALL monopolies stem from Govt. intervention...thats a fact,look it up.Govt. regulations favor big corporations who can deal with them while hamstringing the smaller up and coming ones.
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He is completely correct on all points.Minimum wage and regulations are what drives jobs overseas and adds to unemployment.With out Govt. intervention CEOs taking huge profits would not be tolerated.ALL monopolies stem from Govt. intervention...thats a fact,look it up.Govt. regulations favor big corporations who can deal with them while hamstringing the smaller up and coming ones.
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Guest: (3745 days ago)
some one have a death note ?
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some one have a death note ?
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WalterEgo WalterEgo (3744 days ago)
On his first point, it seems to me that on a small scale, companies competing against each other can be beneficial for consumers, but on a larger scale, it makes more sense to buy your rival rather than compete, thereby creating monopolies - great for the company, bad for the consumer.
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On his first point, it seems to me that on a small scale, companies competing against each other can be beneficial for consumers, but on a larger scale, it makes more sense to buy your rival rather than compete, thereby creating monopolies - great for the company, bad for the consumer.
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Samsgimp Samsgimp (3745 days ago)
On each point that he addresses he seems to stop short of where legislation should intervene. The first point i can agree with, the second point about being rewarded for hard work is complete b.s. for the vast number of underpaid slaves at the bottom of the pyramid and if it wasn't for minimum wage legislation the gap between the bosses at the top and those a the bottom would be even greater. and on the last point I totally disagree, the current crisis would still have occured but with slightly different circumstances ..and ..er...thanks for giving us a solution to our current predicament
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On each point that he addresses he seems to stop short of where legislation should intervene. The first point i can agree with, the second point about being rewarded for hard work is complete b.s. for the vast number of underpaid slaves at the bottom of the pyramid and if it wasn't for minimum wage legislation the gap between the bosses at the top and those a the bottom would be even greater. and on the last point I totally disagree, the current crisis would still have occured but with slightly different circumstances ..and ..er...thanks for giving us a solution to our current predicament
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Guest: djayz (3742 days ago)
The reason the "slaves at the bottom" are not being paid as much as the bosses at the top is a very simple one. If you don't understood the basics then there's not much point in bring that up here, Dr. Miron talked about this in his vide - “rewards people who are productive, people who work a lot of hours, people who have a lot of talent, people who come up with good ideas, they get big rewards." “some people have very little skills," Listen again.
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The reason the "slaves at the bottom" are not being paid as much as the bosses at the top is a very simple one. If you don't understood the basics then there's not much point in bring that up here, Dr. Miron talked about this in his vide - “rewards people who are productive, people who work a lot of hours, people who have a lot of talent, people who come up with good ideas, they get big rewards." “some people have very little skills," Listen again.
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Samsgimp Samsgimp (3742 days ago)
Latest comment: In real terms, wages for 'most' workers hasn't gone up in thirty years and in many cases in some countries and/or in some sectors wages have decreased. in the meanwhile pay and bonuses for those at the very top has gone through the roof. Thats capitalism and tough poop...you might say? any constructive suggestion?
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Latest comment: In real terms, wages for 'most' workers hasn't gone up in thirty years and in many cases in some countries and/or in some sectors wages have decreased. in the meanwhile pay and bonuses for those at the very top has gone through the roof. Thats capitalism and tough poop...you might say? any constructive suggestion?
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