Adam Smith's vision of capitalism was based on the idea of free markets and limited government intervention. He believed that when individuals were free to pursue their own self-interest, it would lead to the greatest good for society as a whole. In his book The Wealth of Nations, Smith argued that the invisible hand of the market would lead to competition and innovation, which would benefit everyone. He also believed that government intervention was often harmful to the economy, and that it should be limited to protecting property rights and enforcing contracts. The current form of capitalism in the US, on the other hand, is much more concentrated and regulated than Smith envisioned. A small number of corporations control a large share of the economy, and the government often intervenes to protect their interests. For example, the US government provides billions of dollars in subsidies to corporations each year. This gives them an unfair advantage over smaller businesses and makes it more difficult for new businesses to enter the market. The US government also has a number of regulations that favor large corporations over small businesses. For example, the Jones Act requires that all goods shipped between US ports be transported on US-flagged ships. This law raises the cost of shipping for small businesses and makes it more difficult for them to compete. The concentration of wealth and power in the hands of a few corporations has led to a number of problems in the US economy, including: Wage stagnation: Real wages have been stagnant for decades, while corporate profits have soared. This is because corporations have been able to use their market power to suppress wages. Inequality: The gap between the rich and the poor has been widening in recent decades. This is because corporations have been able to extract more wealth from the economy, while workers have seen their wages stagnate. Monopoly power: A small number of corporations control a large share of the economy in many industries. This gives them the power to raise prices and stifle innovation. Adam Smith would likely be appalled by the current state of capitalism in the US. He believed that competition was essential to a healthy economy, and he would have seen the concentration of wealth and power in the hands of a few corporations as a threat to competition. Here are some specific examples from The Wealth of Nations that illustrate Adam Smith's vision of capitalism: Smith argued that the government should not interfere in the free market, except to protect property rights and enforce contracts. He believed that the government should not subsidize businesses or try to pick winners and losers in the market. Smith believed that competition was essential to a healthy economy. He argued that competition would lead to lower prices, higher quality goods and services, and innovation. Smith was a strong advocate for free trade. He believed that countries should be able to trade goods and services freely with each other. The current form of capitalism in the US is in many ways a departure from Adam Smith's vision. The government provides billions of dollars in subsidies to corporations, regulates the economy in favor of large corporations, and allows a small number of corporations to control a large share of the economy in many industries.
Most people have no idea what capitalism even is and those who claims to know confuse capitalism with corporatism which is the quite opposite of what capitalism is. Capitalism is not only the private ownership of the means of production its also the individual ownership of the means of production. The individuals have a Natural Right to have ownership/sovereignity/authority/power over their own life, works/trade/business, and property, which includes to have ownership over their own means of production. The individuals are in their right to decide for themselves who they will associate with, interact with, do business with, and also to decide on what terms and conditions that should happen on. The state is not legitimate and have never been legitimate in any way shape or form, its nothing more than just a criminal gang of psychopaths, sociopaths, and idiots who makes excuses politics/religion in order to justify causing the individuals permanent harm, loss, and damage.
As long as it is real capitalism, and companies aren't bailed out by governments. No matter how big they are. How I see it is that big corporations are bailed out by governments if they fail (corporatism), and small and midsized businesses technically work in a more pure capitalist society, although there is also government interference, but more on the rules, regulations and restriction side. Just let businesses work in a pure capitalist society!!!
THIS "CAPITALIST MANIFESTO" HAS 1 BASIC CLAIM, its quite simple: "SOCIALISM FOR THE RICH AND EXTREME CAPITALISM FOR THE POOR". Thats all there is, one sentence.
I will ask a question and express an objection: maybe is an European point of view, but I think will interest also America. Basic economy say that markets are based on demands and offer, in basic psycology we can identify this binomial on what we call stimolus and response. Some old philosphers will argue that on the basic scientific law of cause and effects. In Europe there is still a war in Ucraine, basically grounded on world leadrship politics of super power nation, and before on national interests politics. What can be an efficient new economy, if still one of the two components of economy (money) and politics (law), is still related to a national super power politic, instead of an international super industry and therefore a commerce that should be its soul?
Wonder when people realize most major capitalists argue for a world government to police and manage the worldwide capitalist market. Capitalism and communism are both western, primarily British, exports and both dialectically lead to world technocratic money-based system. One read-through of Quigley's CFR level analysis Tragedy and Hope would show this whole discussion as shallow and ultimatley obselete. Imo.
Global poverty declined, global health improved, and global inequality declined... but what does that matter if AMERICA is subsidizing it ALL and the citizens in the US.. ate experiencing the opposite? Do you think the average American care about the global economic health when they can barely make it by, month to month? Your either being intentionally obtuse, or youre outrageously ignorant of what matters to the working class.
Adam Smith's vision of capitalism was based on the idea of free markets and limited government intervention. He believed that when individuals were free to pursue their own self-interest, it would lead to the greatest good for society as a whole.
In his book The Wealth of Nations, Smith argued that the invisible hand of the market would lead to competition and innovation, which would benefit everyone. He also believed that government intervention was often harmful to the economy, and that it should be limited to protecting property rights and enforcing contracts.
The current form of capitalism in the US, on the other hand, is much more concentrated and regulated than Smith envisioned. A small number of corporations control a large share of the economy, and the government often intervenes to protect their interests.
For example, the US government provides billions of dollars in subsidies to corporations each year. This gives them an unfair advantage over smaller businesses and makes it more difficult for new businesses to enter the market.
The US government also has a number of regulations that favor large corporations over small businesses. For example, the Jones Act requires that all goods shipped between US ports be transported on US-flagged ships. This law raises the cost of shipping for small businesses and makes it more difficult for them to compete.
The concentration of wealth and power in the hands of a few corporations has led to a number of problems in the US economy, including:
Wage stagnation: Real wages have been stagnant for decades, while corporate profits have soared. This is because corporations have been able to use their market power to suppress wages.
Inequality: The gap between the rich and the poor has been widening in recent decades. This is because corporations have been able to extract more wealth from the economy, while workers have seen their wages stagnate.
Monopoly power: A small number of corporations control a large share of the economy in many industries. This gives them the power to raise prices and stifle innovation.
Adam Smith would likely be appalled by the current state of capitalism in the US. He believed that competition was essential to a healthy economy, and he would have seen the concentration of wealth and power in the hands of a few corporations as a threat to competition.
Here are some specific examples from The Wealth of Nations that illustrate Adam Smith's vision of capitalism:
Smith argued that the government should not interfere in the free market, except to protect property rights and enforce contracts. He believed that the government should not subsidize businesses or try to pick winners and losers in the market.
Smith believed that competition was essential to a healthy economy. He argued that competition would lead to lower prices, higher quality goods and services, and innovation.
Smith was a strong advocate for free trade. He believed that countries should be able to trade goods and services freely with each other.
The current form of capitalism in the US is in many ways a departure from Adam Smith's vision. The government provides billions of dollars in subsidies to corporations, regulates the economy in favor of large corporations, and allows a small number of corporations to control a large share of the economy in many industries.
capitalists CREATED government in the first place, they are two sides of the same coin, you cant have capitalism without big government.
@@Stafus capitalists created the Representative Government?
@@tetraquark4477 magna carta.
@@Stafus lol. Try Athens 5th BC
@@tetraquark4477 same thing.
Most people have no idea what capitalism even is and those who claims to know confuse capitalism with corporatism which is the quite opposite of what capitalism is.
Capitalism is not only the private ownership of the means of production its also the individual ownership of the means of production.
The individuals have a Natural Right to have ownership/sovereignity/authority/power over their own life, works/trade/business, and property, which includes to have ownership over their own means of production.
The individuals are in their right to decide for themselves who they will associate with, interact with, do business with, and also to decide on what terms and conditions that should happen on.
The state is not legitimate and have never been legitimate in any way shape or form, its nothing more than just a criminal gang of psychopaths, sociopaths, and idiots who makes excuses politics/religion in order to justify causing the individuals permanent harm, loss, and damage.
As long as it is real capitalism, and companies aren't bailed out by governments. No matter how big they are. How I see it is that big corporations are bailed out by governments if they fail (corporatism), and small and midsized businesses technically work in a more pure capitalist society, although there is also government interference, but more on the rules, regulations and restriction side. Just let businesses work in a pure capitalist society!!!
capitalists CREATED government in the first place, they are two sides of the same coin.
Corporations have Socialism
THIS "CAPITALIST MANIFESTO" HAS 1 BASIC CLAIM, its quite simple: "SOCIALISM FOR THE RICH AND EXTREME CAPITALISM FOR THE POOR". Thats all there is, one sentence.
@@MrShbbz truth
I will ask a question and express an objection: maybe is an European point of view, but I think will interest also America. Basic economy say that markets are based on demands and offer, in basic psycology we can identify this binomial on what we call stimolus and response. Some old philosphers will argue that on the basic scientific law of cause and effects. In Europe there is still a war in Ucraine, basically grounded on world leadrship politics of super power nation, and before on national interests politics. What can be an efficient new economy, if still one of the two components of economy (money) and politics (law), is still related to a national super power politic, instead of an international super industry and therefore a commerce that should be its soul?
Basically I ask that because richness get up on trade, and war quit the free trade abilities.
I am pro capitalism because its the BEST we've come up with so far... but i wouldnt be tagging his points of reference as evidence for globalism.
Wonder when people realize most major capitalists argue for a world government to police and manage the worldwide capitalist market. Capitalism and communism are both western, primarily British, exports and both dialectically lead to world technocratic money-based system. One read-through of Quigley's CFR level analysis Tragedy and Hope would show this whole discussion as shallow and ultimatley obselete. Imo.
Global poverty declined, global health improved, and global inequality declined... but what does that matter if AMERICA is subsidizing it ALL and the citizens in the US.. ate experiencing the opposite? Do you think the average American care about the global economic health when they can barely make it by, month to month? Your either being intentionally obtuse, or youre outrageously ignorant of what matters to the working class.
Spoken like an Inflationarian Facist.