Is Capitalism in Crisis? Watch the Animated Lecture Now!

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In summary: He also talks about how the rich are getting richer and the poor are getting poorer, but doesn't mention how economic policies have been favoring the rich for a very long time.In summary, the commentator argued that markets have been symbolic of Austrian theory and that most academics and economic policy makers should adhere to the Keynesian school. He also stated that corporatism is not capitalism.
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robheus
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Watch this lecture (animated) online:
 
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  • #2
And then what
 
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I got to the part where he parrot's Chomsky's factually incorrect refrain that incomes have stagnated or fallen since the 1970s and could go no further. Seems like the usual Marxist nonsense to me. Cool animation, though.

Unless you have a point to make/discuss, this thread will be locked.
 
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  • #5
Ok, as soon as I saw Marxist’s "point of view" I knew where this was going. The commentator got something very wrong.

He stated that the markets has been very symbolic of the Austrian theory (which is an incredible naive stand point- it hasn’t, because the Austrian methodology clearly doesn’t favor bail outs, and stresses that mismanaged private institutions and businesses should be allowed fail ), and then that many academics and economic policy makers should adhere to the Keynesian school (sorry to say that it has been Keynesian... we've been priming the pump... that's what all this deficit spending has been all about).

People don't seem to understand what corporatism is and how it ties to government intervention which leads directly to control. Corporatism is not capitalism.

He's right about the accumulation of capital, but he fails to see that it's the central planners that are also heavily benefiting by their economic policies.
 

1. Is capitalism really in crisis?

The answer to this question depends on who you ask. Some economists argue that capitalism is in crisis, pointing to issues such as rising income inequality and the negative effects of globalization. Others argue that capitalism is functioning as it should, and any perceived crisis is just a natural part of the system.

2. What are the main causes of a potential crisis in capitalism?

There are many potential causes of a crisis in capitalism, including economic inequality, financial instability, and environmental degradation. These issues can arise from the inherent flaws and imbalances within the capitalist system, as well as external factors such as government policies and globalization.

3. How does the current state of capitalism impact society?

The impact of capitalism on society is a complex and controversial topic. On one hand, capitalism has been credited with driving economic growth and innovation, which can improve the quality of life for many people. On the other hand, it has also been criticized for perpetuating social inequalities and creating negative externalities such as pollution and exploitation of workers.

4. Can capitalism be reformed to avoid a crisis?

Some argue that capitalism can be reformed to address its flaws and prevent a crisis. This could involve policies such as increasing government regulation and social welfare programs, promoting fair trade practices, and implementing sustainable business practices. However, others argue that these reforms may not be enough to fundamentally change the nature of capitalism.

5. What alternatives are there to capitalism?

There are various economic systems that have been proposed as alternatives to capitalism, such as socialism, communism, and various forms of market socialism. However, each of these systems has its own drawbacks and challenges, and there is no consensus on which would be the most effective or sustainable in practice.

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