Is There a Better Economic System than Capitalism?

Capitalism has never actually existed in reality - cleptocratism and other crazy stuff has. Just like there are no countries with democracy - its mostly all rigged and manipulated.

I think that anyone has total capitalism or communism or socialism in any country. We all have mixed economy and stupid idiots fight for nothing but to prove that they are stupid idiot. There are government hospitals government schools and you also have private companies. You also have government owned electrical authorities too. It is the mix economy not capitalism or communism or socialism

No political system is perfect because mankind is imperfect.

The title of this video is so misleading. Capitalism is an economic system based on private ownership of the means of production and their operation for profit. While it has many advantages, such as promoting innovation and economic growth, it can also be used unethically and with greed. The environment and workers are easily exploited, companies engage in anti-competitive practices, such as price fixing or collusion, as well as lobbying and influencing politicians to get favorables laws and regulations. A few example: Fossil fuel companies are harming the environment in many ways, pharmaceutical companies often charge very high prices for their drugs, even for life-saving medications. Yes there is a better system than capitalism, call it whatever you want, but it is a system where government regulations should be put in place to protect workers, consumers, and the environment, where solid tax policies can discourage unethical behavior, where corporate social responsibility and transparancy is promoted and consumers educated about ethical buisnesss practices.

Which capitalism? Only Keynes.

The conception of an economy detached from the overall social context is a myth.

Yeah. Socialism is, and I don't mean that stalinist garbage.

I am in my mid-40s. I spent most of my working life as customer rep at the phone. Now I am finally free of it. Bottom line: There is a huge number of stupid, lazy, non self-reflecting people. If the human body would not digest and defecate all by itself, there would be a hotline telling gastro-intestinally-mentally-challenged people how to wipe and which hand with. Especially other customer rep people here will know all to well what I am referring to. That enormous, in a consumerism fashion of speaking "un-woke" mass of people is the heart-beat of what we have today. As long as their number is too high for the system to change hardly anything will ever change. Final note: My ink pen from 2nd elementary degree (1986) is still working perfectly.

Socialism is only viable when it is National

Sooo... the answer to your click bait is "I don't know????"

Short answer yes

I think capitalism was a really good idea to get things rolling. But never meant to be a long term plan.

Well there is a solution. It's called socialism

"Capitalism" is not a "system". It is simply letting people freely engage in commerce. All 'replacements' which have been tried or proposed rely on taking away such freedom at the point of a gun.
That aside, the hugely interventionist situation in place currently in the West, only barely lets capitalism off the leash anyway, and is very much limited in its freedoms.

Yes there is a better economy system, it's a Zero Waste Economy or Circular Economy. Basic principle are Refill, Reusable, Repairable, Compostable - Biomimicry - Cradle to Cradle - Natural Capitalism - Performance Economy -

There's no capitalism without socialist safeguards, and no socialism without capitalist incentives. History is pushing us towards a more and more equitable balance.

Keynesian economics make no sense.

It's called the Economy of Things. Google it.

I love idiots who are praising capitalism. I live in young capitalism country and still can go outside during night in poor neiborhood and get cofee in a gas station without being robbed .How many can do this in usa ? :D

Towards the end you discuss the difficulty of studying economics - "you can't create an economy in a lab." Maybe unsurprisingly, that made me think of computer-based economic modelling, which I assume economists do a lot of. Those models though would have to be limited by the factors that economists imagine to be relevant. That got me wondering if anybody is applying AI to produce novel economic models that apply factors that maybe economists have not thought of. I imagine this would need to involved training AI on whatever data - economic, demographic, environmental, political.... the researchers could get their hands on.

All that to say: Maybe a subject for a future video.

Thanks for nothing

As an EE fan. I hate the last few minutes.

What is the best way to profit from the current market, meanwhile I'm still undecided about investing $400k in my stock portfolio to get some dvidends and minimize risk

Capitalism is the only working economic model. Socialism and planned economy doesn't work, just look at fate of USSR

Sick of these dumbed down theoretical discussions on a "science" that constantly fails.

The problem with economiv systems in general and capitalism particularly is that people with power are always manipulating or outright changing the rules to their advantage. Under capitalism, money is power.

Nope

I feel like the growing global connectivity is going to end up biting us in the rear.

The true when capitalism runs with reasonable checks and balances and laws then it is the best thing going. What happens though is eventually separate leaders get in bed with politicians and when they cooperate and the politicians work together the people lose. Making the real problem politically infused corporatism, not capitalism.

However, this is an inevitability of any form of government. The best solution is for the people to have the power as consumers to influence this process and that is why currently capitalism is the best form of government. Communism Dictatorship, Socialism, Oligarchy, and the like give more power to corporations and government officials who both make false promises for power and work to deceive and manipulate the people and that is why capitalism is the best thing going at least for now.

Thru the ages Trial and Error through actual commerce(not theory) gave rise to the private practical efficient method of financing creating and operating businesses Call it Capitalism Free Enterprise Then came Governments Yikes

The question of who produces is of course totally ignored. Nor is tendency of profit rates to decline. As far as mercantilism goes that is the direction American Imperialism took. Forget about local production in favor of capital formation at the biggest banks and companies in the world. The fact is the bosses have NOT escaped Imperialist mercantile competition. All Keynes did is to advise the British bosses to rob the working class with inflation instead of the old fashion wage cut.

Try Islamic economy

almost every economic system is technically better then captialism problem is human being inability to make them work to there technical potential like the great winston churchill once said capitalism is the worst economic system except for all the other forms.

While a good portion of economists subscribe to Neo-keyneinian economics the economic elite are far more likely to propagate and support neo-liberal policies in direct opposition to much of keynienian economics

Garbage

No

Fortunately for economic theorists, I-know-best politicians DO experiment with their nations' economic futures. Whatever can go wrong, will go wrong, and clever economists will decipher the lessons learnt.

Well that didn't really answer the question in the video title..

I think we can refine our model, make it more natural in that we actually let the market operate as it should and not continually manipulated by governments and businesses. Also capitalism in my eyes is about the effective utilisation of resources and not necessarily profit above all, so you can have a caps list system where resource use and preservation is more highly valued, but that may be to idealistic

at 5.15 his description of capitalism and whats produced is the liberals fantasy not reality - fortunately he goes on to describe one of the problems with this fantasy that isnt like that in the real world like negative costs and efficiencys
but this leaves out
-- things like marketing to manipulate more demand and desires
-- political corruption /bribery/ lobbying
-- killing democracy on economic issues & limiting it to social issues
-- labour exploitation and the creation of unemplyment and poverty and all the negative issues poverty creates - crime/ill health /drugs etc
-- forced growth to keep going leading to destruction - thou its part of negative values , just more of it
--its continued regular economic crises
-- its increased debt to keep going

I think media also needs to change from popular perspectives or fear mongering to reporting truths. Media should be neutral sealed from political wings and views.

Thanks for literally wasting my time. The title of your video doesn’t reflect its content closely.

I think it's clear the problem is the goal itself, wealth. While the focus on growth and wealth made sense for the quality of life in the past, it doesn't anymore.
Much of the "growth" and "wealth" is production based on systems/companies that exist because the goal is wealth. Take marketing or financial services as examples, while still useful their size without capitalism would be much smaller.
I don't want to go on a rant, but I think we're to the point where people either will be enslaved by some corporation, or demand a system where wealth isn't the only primary goal.

Capitalism Communism Socialism Marxism all the isms the one thing they all have in common is most of the wealth gets sucked to the top as corruption and abuse of power pollutes all of these political ideaoligies. Economics will eventually kill life on this planet as we know it as every Economic boom has a big environmental impact and there's only so many economic booms it can withstand to sustain life. Capitalism works very well for the rich for everyone else its sink or swim and looking at all the free market Capitalist countries globally there's a lot more people sinking than swimming.🤑🌏🌎🌍

My guy just called capitalism efficient

If anyone knows what I know, communists infiltrated capitalists and speed up the corrupt nature by mixing with Marxists ultimate totalitarian capitalism. Under the original capitalism was a fair go system that people who are willing to work hard are able to make money and make a better life for themselves. Under totalitarian capitalism, encourage deceptions, betrayal and prostitution.

Is There a Better Economic System than Capitalism? Many.

Call it a Natural Law Resource Based Economy (Peter Joseph), Ubuntu Contributionism (Michael Tellinger), Circular RBE (Jacque Fresco), Circular Economy or Open Access Economy (Colin R. Turner). There are many words to describe a new viable system, beyond the monetary-market system. But we have to think outside the box to see it!

Of course there’s a better system…it’s called Christ’s governmental system, where everything is done righteously,that is say, it’s done right. He is no respecter of persons, He doesn’t play favorites. Until then, there is no perfect governmental system while in the flesh. And capitalism is Satan’s system, and I can say that because it puts the love of money over God, which breaks the 1st commandment.

Distributism and C.H. Douglas Social Credit