What is Capitalism? A Simple Explanation, Pt. 1

This video is a simple explanation of the economic system of capitalism.
Bibliography
Baumol, William J., Litan, Robert E., and Schramm, Carl J. (2007). Good capitalism, bad capitalism and the economics of growth and prosperity. New Haven: Yale University Press.
Coates, David. (2000). Models of capitalism. Malden MA: Blackwell.
Esping-Andersen, Gosta. (1990). The three worlds of welfare capitalism. Princeton NJ: Princeton University Press.
Friedman, Milton. (1962). Capitalism and freedom. Chicago: University of Chicago Press.
Hayek, Friedrich A. (1944). The Road to serfdom. Chicago: University of Chicago Press.
Heilbroner, Robert L. & Milberg, William. (2006). The making of economic society. Upper Saddle River NJ: Prentice-Hall.
Marx, Karl. (1867). Capital: A critique of political economy. Trans. Moore, Samuel, Edward Aveling, and Friedrich Engels. Marxists.org.
Mill, John Stuart. (1848). Principles of political economy. New York: D. Appleton & Co.
Polar, Hernando de Soto (2000). The mystery of capital. New York: Basic Books.
Rawls, John. (1971). A theory of justice. Cambridge MA: Belknap Press.
Schumpeter, Joseph A. (1941). Capitalism, socialism and democracy. London: Routledge.
Smith, Adam. (1776). An Inquiry into the Nature and Causes of the Wealth of Nations. London: ‎W. Strahan and T. Cadell.

Пікірлер: 74

  • @universityquickcourse6623
    @universityquickcourse66234 жыл бұрын

    We appreciate your feedback. Let us know what you think and what subjects you're looking to have explained in understandable language.

  • @NiaJohnson101

    @NiaJohnson101

    3 жыл бұрын

    Make a video for Georgism, please? :)

  • @QueensFirst

    @QueensFirst

    3 жыл бұрын

    😂😂😂😂😂

  • @christiansagvik-fuldseth8556
    @christiansagvik-fuldseth85564 жыл бұрын

    My left ear really enjoyed this.

  • @universityquickcourse6623

    @universityquickcourse6623

    4 жыл бұрын

    Yes, sorry about that.

  • @christiansagvik-fuldseth8556

    @christiansagvik-fuldseth8556

    4 жыл бұрын

    @@universityquickcourse6623 its fine I still appreciate the content.

  • @ItalianAmericanmafia

    @ItalianAmericanmafia

    Жыл бұрын

    I feel like it was on purpose lol

  • @masterofrockets
    @masterofrockets3 жыл бұрын

    One day, one day I’ll find a video that adequately explain capitalism. But today’s not that day.

  • @merlin3921

    @merlin3921

    2 жыл бұрын

    Totally agree. This video is so slanted. Just the tone of this video is awful.

  • @anthonyesposito7

    @anthonyesposito7

    2 жыл бұрын

    How can say that you are for or against the things you mentioned and then go on to say you support a system that causes and continues perpetuate those exact things you mentioned? Have you read Das Capital by Marx?

  • @keynesmeetsschumpeterinanarrow
    @keynesmeetsschumpeterinanarrow2 жыл бұрын

    I am a capitalist who believes in environmentally sustainable and inclusive prosperity. I am strongly against anticompetitive monopolistic behaviour (Adam Smith himself despised it) and I also believe high levels of inequality are problematic. According to your video someone like me should not exist, but there are loads of people like me in the world. You have treated all capitalists as a monolithic group with ideals that Republicans have come to stand for in America. There is obviously a lot more nuance to modern capitalism and capitalists.

  • @threemashup2662

    @threemashup2662

    2 жыл бұрын

    What did you expect from a 15 minute video trying it’s best to explain an incredibly complicated economic system? Obviously they would have to make generalisations and any made should be apparent to those looking to educate themselves further on what capitalism and other economic systems entail. You shouldn’t feel called out or offended by it and if you are, I feel like you’ve missed the point of this video.

  • @mlzplayer9243

    @mlzplayer9243

    Жыл бұрын

    Well you can exist, you will not succeed nor come any closer to your ideal, or come any closer to understanding capitalism.

  • @jonasamy
    @jonasamy8 ай бұрын

    What city is portrayed at minute 7:00?

  • @gabu9892
    @gabu98923 жыл бұрын

    In capitalist stystems prices for goods and services are determined by how many products there are and how many people want them

  • @ckn3481
    @ckn34814 жыл бұрын

    I am a bit annoyed that due to the damn new bell notification, I have missed out on a lot of videos

  • @heshayousaf9702
    @heshayousaf97023 жыл бұрын

    where's part two?!

  • @princessjenja
    @princessjenja4 жыл бұрын

    Audio better. Keep up the good work.

  • @universityquickcourse6623

    @universityquickcourse6623

    4 жыл бұрын

    Thanks a lot. Appreciate it.

  • @comradescar6547
    @comradescar65474 жыл бұрын

    That’s some good 🍞 this is the first video I’ve seen of yours it’s very good.

  • @universityquickcourse6623

    @universityquickcourse6623

    4 жыл бұрын

    Thanks. Appreciate it!

  • @salmanbadshah7710
    @salmanbadshah7710 Жыл бұрын

    She has explained it very well She says truth, those who deny do not understand capatlism

  • @LilRich0edouble4oe801
    @LilRich0edouble4oe8013 жыл бұрын

    Who were 4 tenants of capitalism?

  • @StephenSchleis
    @StephenSchleis4 жыл бұрын

    I miss Glascows voice!

  • @wwahyyy2035
    @wwahyyy20352 жыл бұрын

    why is the vid talking about the soviet union? vid is out in 2019

  • @timdeutschmann5894
    @timdeutschmann589411 ай бұрын

    The core principle of Capitalism is positive interest.

  • @habeducation
    @habeducation Жыл бұрын

    Assalamualaikum mam How are you mam Mam can you teach about this topic+(Capitalism in USA and Europe) make an assignments. Thank you

  • @aaronking5170
    @aaronking5170 Жыл бұрын

    This video misses a lot about the good of Capitalism and how the individual benefits and how your choices lead to bad outcomes.

  • @toddmaek5436
    @toddmaek54363 жыл бұрын

    So yalll just gonna slip right in over slavery as if it wasnt significant in this discussion??

  • @Funnyeboi

    @Funnyeboi

    3 жыл бұрын

    One of the main reasons capitalism in America is flawed.

  • @nevadataylor

    @nevadataylor

    3 жыл бұрын

    @@Funnyeboi capitalism is always flawed, not just in America. In any system of wealth accumulation such as capitalism, how will we ever be able to stop monopolies from forming? Monopolies are an intrinsic flaw of capitalism.

  • @nevadataylor

    @nevadataylor

    3 жыл бұрын

    Nailed it Todd! Glad to see someone in the comments brought this up.

  • @XericSol
    @XericSol2 жыл бұрын

    I'm sorry, but I don't think you know what you're talking about. On one hand, you say the economy is controlled by private businesses, but then later you say it's controlled by supply and demand (which just another way of saying the people control the economy). Also, it's disingenuous to point out the wealth gap between rich and poor in Capitalism without acknowledging that those gaps exist in every economic system ever tried. The difference is Capitalism has a mechanism in which those at the bottom can get to the top as well as vice versa.

  • @Domieboy

    @Domieboy

    Жыл бұрын

    leave it to a communist to explain capitalism, and this is what happens lol.

  • @kaufmanat1

    @kaufmanat1

    9 ай бұрын

    The problem with feudalism was that it wasn't REAL feudalism...

  • @XericSol

    @XericSol

    9 ай бұрын

    @kaufmanat1 There is no economic system that is purely that system, never has been. History has shown that the closer we are to a Free Market system, the better of everyone is.

  • @kaufmanat1

    @kaufmanat1

    9 ай бұрын

    @@XericSol lol, I know, I'm just making fun of every communist claiming all previous iterations of communism would have worked, but they weren't REAL communism.

  • @XericSol

    @XericSol

    9 ай бұрын

    @@kaufmanat1 Yup, that's the go-to for the ignorant.

  • @aaronking5170
    @aaronking5170 Жыл бұрын

    And Capitalist Socialism is a political / economic / social fairytale!

  • @D64nz
    @D64nz Жыл бұрын

    Can we stop misusing that 'pull yourself up by your bootstraps' pretending that it means to work hard. It's literally a nonsensical term that means you attempt to do the clearly impossible and no one is surprised by the resulting failure. While that does apply to modern capitalism in many respects, that's not how the term is being used. Put simply, that phrase doesn't mean what you seem to think it means.

  • @JoseFernandez-yz1sf
    @JoseFernandez-yz1sf2 жыл бұрын

    I think that this video is misleading in relation of what really is the capitalism. I don’t recommend it.

  • @bradleymcdonald6273

    @bradleymcdonald6273

    Жыл бұрын

    So whats capitalism?

  • @Bonita.ch1
    @Bonita.ch12 жыл бұрын

    Capitalism 👏👏👏👏💓💓

  • @Domieboy
    @Domieboy Жыл бұрын

    dude literally took the definition of communism… inversed it, and called it the definition of capitalism. lol. what a munch.

  • @Domieboy
    @Domieboy Жыл бұрын

    that is not the definition of capitalism lol. thats the communist definition.

  • @Domieboy
    @Domieboy Жыл бұрын

    why is a communist explaining capitalism to me…

  • @unhombrelibre_11
    @unhombrelibre_112 жыл бұрын

    When the government intervenes you are no longer describing capitalism

  • @anthonyesposito7

    @anthonyesposito7

    2 жыл бұрын

    Agreed, same for Socialism 👍

  • @bradleymcdonald6273

    @bradleymcdonald6273

    Жыл бұрын

    @@anthonyesposito7 wait. You think government interference doesn't happen in socialism??

  • @anthonyesposito7

    @anthonyesposito7

    Жыл бұрын

    @@bradleymcdonald6273 what the original post describes is basically anarcho capitalism. Capitalism without government or checks on its power. State socialism and socialism are not the same. You most people hear socialism they imagine State socialism. That isn't the socialism that most socialists advocate for at least not myself.

  • @aaronking5170
    @aaronking5170 Жыл бұрын

    Socialism has a negative side. Both Capitalism and Socialism and any other economic system you can imagine cannot avoid this. The "Human Nature" factor cannot be ignore nor diminished. Socialism inevitably leads to an Oligarchy and authoritarianism. Lenin led to Stalin and Communism and Mao ruined his nation and people and Venezuela is the modern disaster model. In America, California has fallen down the same path as Venezuela. The Pollyanna promises of Socialism work until the wealth and prosperity of Capitalism run out as Socialism uses up what clever and hard working people built is destroyed.

  • @harshitmadan6449
    @harshitmadan64494 жыл бұрын

    This video was clearly made by an anti capitalist. The bias is too heavy. We don't claim that rich will share their wealth with poor. We claim that free market will allocate resources in a manner that raises living standards.

  • @universityquickcourse6623

    @universityquickcourse6623

    4 жыл бұрын

    We strive to be as unbiased as possible in our presentation by researching legitimate, relevant, and justified published critiques from a range of sources. Nonetheless, unintended biases infuse all academic pursuit because we, like everyone else, live in the world and are a product of our experiences. Thank you for your comment.

  • @rhodesianwojak2095

    @rhodesianwojak2095

    4 жыл бұрын

    so you mean something that will never happen?

  • @shalevgoren653

    @shalevgoren653

    3 жыл бұрын

    @@universityquickcourse6623 Clearly you do not.

  • @youreplyyoumad5505

    @youreplyyoumad5505

    3 жыл бұрын

    That’s exactly what they were talking about. They never put capitalists into a stereotype. And they never claimed that all capitalists strive for profit. All capitalists want a healthy economic trade, and the people who made this video recognize that fact.

  • @kaufmanat1

    @kaufmanat1

    9 ай бұрын

    Capitalism claims the rich will use their money to invest in businesses in order to MAKE MORE money by fronting businesses (investing) the cash they need to Jumpstart the business, accelerating economic growth. The business gets started faster, and the capital can grow while be used to accelerate economic growth.

  • @rovian9
    @rovian93 жыл бұрын

    Capitalism is not perfect. But by far, far. Far.... very far is the best social system in the Universe

  • @AS-rx3yk

    @AS-rx3yk

    3 жыл бұрын

    But unbridled capitalism leads to the wealthy driving their luxury cars next to tents of homeless along the interstate (such as here in Seattle). People are sleeping outside in the cold when even most dogs sleep in heated homes. One of the problems with capitalism is that the reward has no correlation to one's contribution to society. A football player makes in 1 game what a school teacher makes after several years of work. The other major problem is that rich can only get richer through investments with undeserved returns that ultimately drive up the economy and cause inflation/overpriced housing that makes it even more difficult for the poor to get by. It really is a flawed system and the only way to make it work is by controlling it through socialist measures. Some people think capitalism is somehow a religious thing. Jesus was not a capitalist and neither was Buddha.

  • @anthonyesposito7

    @anthonyesposito7

    2 жыл бұрын

    @@AS-rx3yk Correction: The only way to fix it is take what's good and then throw away the rest to the to the trash bin of history and move on the next mode of production which is socialism.

  • @anthonyesposito7

    @anthonyesposito7

    2 жыл бұрын

    This is just repeating Capitalist propaganda. Unable to imagine a possible alternative. Before you say all other alternatives have been tried. No other system can coexist with capitalism. Not because the other system is bad but because capitalism will not allow it. This is why capitalism must be stamped out of history before we are to move on to greener pastors