Is capitalism dying? | CNBC Explains
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- Опубліковано 4 сер 2024
- Capitalism has been embraced in the West for generations, transforming how societies worked and lived in the process. However its time may be running out, as business and political leaders alike question its relevance in the world we live in today. CNBC’s Timothyna Duncan explains from the World Economic Forum’s annual meeting in Davos, Switzerland.
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#CNBC #Capitalism #Davos
Capitalists are questioning capitalism and still growing richer day by day.
DEV so is the poor and middle class
The only the capitalists at the tippy top
it not pure capitalism....
@@campkira crony capitalism
Same thing
As a fellow human being I’ve always had a problem with the rich getting richer and the poor getting poorer, a society that condones one man worth billions living in a obscene mansion while another sleeps under a bridge in a cardboard box...... A society that struggles to pay teachers meager wages while professional athletes are payed millions without protest, perhaps we all should re-evaluate our priorities???
That's what capitalism is
@@jamalkhalil77 yup, the most stupid economic system to have ever existed. Even Feudalism of Medieval Europe was much better.
Humans hate change so much they'll happily vote against their own interests to avoid it.
CNBC: Is capitalism dying?
Also CNBC: Would you like to watch an ad to make us money?
@iqbal sahibil "the best HDI and equality by the year 2050!" source
how you want them to pay employees especially the lady in the video???
CNBC collecting ad revenue isn't what's causing economic instability. It's corrupt central bankers and their crony friends who use printed money to create asset bubbles, preventing the middle class from being able to afford necessities like housing and health insurance. At some point, the high will wear off, and we're quickly reaching that point.
your county is not pure capitalism... none on the planet are....
You definitely don't understand how different economic systems work.
Its not dying, just being reformed to reflect the issues of our time
And yet, I am working to death, and capitalism has failed countries across the world and leads to dictatoriships and absolutists...
Is there even an answer to the main question above?
That dont make a good headline
@Working Prole Yes you can
@Working Prole Its Becoming a "Mixed Economy" so you could say its being reformed
Yea right capitalism is dying. Just look at those East Asian countries lol
Why
Hey don't compare the Capitalism of East Asian Countries to the standard of the West. Remember the west colonized the major countries in the east for so many decades.
you do realize that those asian country's economies are dependent on stability of "capitalism" all over the place for thei exports to continue
@Angelo So what? Most of the countries if not all that were colonized had a boost in industrialization compared to their non-colonized neighbours.
@@ivanandonow9512 not really, you have no idea of history, China, South Korea were never colonized they were more industrialized in 1950's than India who was more influenced by colonalism than any other country, colonalism only destroyed India, they were more industrialized before British colonists in 17's than in 19's.
It will die once automation takes over all industries.
In the past the world had a system where 80% of the population was engaged in producing food for itself and the other 20% who were rulers artists and specialist craft workers. Today about 2 % of workers are farmers and another 2% work in mining. All the rest work in industries and services. Industry has collapsed in the west and is on the way down in the east as automation and increasing education make traditional jobs obsolete. There will not be enough jobs for even a quarter of the population in the future but the elites will have to find a way to keep people earning an income sufficient to afford at least basic levels of housing, health, nutrition and entertainment or else social order will break down. The problem will be deciding who gets the remaining jobs and who are left out. Also there will be a need to motivate remaining workers to stay working to support the system. Some means of support will be needed for those left out of the future workforce. Will work be shared with each worker getting less? Will the elites be able to hold onto their wealth and power or do we face a revolution like Russia in 1917 or France in 1789? Do we in the west face a moment of realisation similar to the fall of communism in the USSR in 1989?
PLEASE let this be true!
@Mike Lopez Good call. Clearly, we the common people, have to overthrow capitalism before it gets that far.
Nah automation only means new sets of skills and training required hence new and probably better opportunities.
Just who you think is going to maintain all those machines ?
Did you get upset when ink fillers for printing presses were no longer needed?
Short answer given at the end of the video: NO, Capitalism is not dying.
@The Engineer Guy Stop talking bullshit if you have no clue. We soley don't work on capitalism. Our market nor our economy is purely capitalism in the first place. So called Socialism and government corruption is the reason there is so much difference between rich and poor. Capitalism on the other hand created companies like TATA which employees around 8 lakhs people and donates 66% of its profits. The more you know lol.
@The Engineer Guy dude India used socialism more than capitalism like giving subsidy etc just see the situation of west bengal who used socialism for many year's .
They HAVE to say that!
@@zeus7873 and that is why financially West Bengal is in such a shit situation.
South Africa
old capitalist mantra; *Greed is GOOD* 2:20
new capitalist mantra; *Business mind - Social Heart*
And yet, it will never catch on and greed is good will rot the hearts of thousands...
@@kyokyoniizukyo7171
US government does nothing unlike Australian government setting up high minimum wages and high wage taxes. Fairer society is way better than the society where everyone is greedy and trying to kill someone else all the time.
One of two things will happen in the long run:
1- Either capitalism is drastically changed
2- It will be replaced with new economic ideas
Capitalism is eating its self
ILR Is slowly “socilizes” itself. It looks like communism won. Just in another form.
ILR y’all need to learn about communism from non bias news source because it actually works. Listen to what people who are communist have to say about it and why they work. Most people talking point is “ohh communism killed millions of people, without failing to acknowledge that capitalism has done much worse. Remember guy’s colonialism and slavery practiced the economic theory of capitalism and we know how destructive that system is.... picture that system of slavery and compare to how your bosses exploit you while they make most of the money and you get little profits”
That is what I was meaning, capitalism is what causes every conflict nowadays
Jakub Rejzek Junior yep it’s crazy how that the solutions for the future failed in the past. I think it was just way ahead of its time and that’s why it failed, plus the elements of authoritarian governments.
When 5percent owns the resources of 95 percent of the society things definitely need to change.
The problem isn’t capitalism, it’s corporate greed.
Mac T it’s not greed it’s influence
LOW TAX
Capitalism doesn't work.
Corporate greed is ambition, and ambition is the only driving force
Ambition to cheat others and self justification that you earned it. Perfect example is wall street. They create no value in real life.
Yes, I believe capitalism is dying, everything has sell by date. Capitalism is so cruel , it leaves out the homeless the poverty stricken and the poor, and creates this 1 percent and99 percent society where by we have extreme wealth inequality .
1: Capitalism is not the problem. Corporatism is. 2nd: people may understand what capitalism is but do they actually understand how it works?
When capitalism matures it becomes corporatism...
@@hardikdubey4199 : you made it so simple lol.
Lol you sound like the socialists when they try and justify their failed ideology. "THAT'S NOT REALLLL CAPITALIZMZZ" Who does that remind me of? Hmmmmm???? I wonder???
Capitalism requires inequality. The owners of capital require themselves above and wielding power over the millions of laborers (taking money away from the work those laborers do). There is no way for capitalism to exist without those few owners exerting authoritarian control over the lives of almost everyone in society.
Harps Desire lol define capitalism and socialism
Bernie isn't anti-capitalist. He just wants to move closer towards EU / CA / AU model in terms of compassionate social policies
Kinda like social- capitalism ?(Norway, Denmark, Sweden...)
@@Spido68_the_spectator it's EXACTLY what he said
(But he calls it democratic socialism)
Basically, Nordic "Social Democracy," or German "Social Market Economy," or Canadian "Social Liberal Economy" (which was the same one during America's New Deal era). Nothing new here. :-)
America embracing Socialism is good news for third world manufacturing efficiency.
More power to Belnie !
I am european and i have no intention to explain why europe is not the paradise your american commies depict... you can find data by yourself but i have a proposal for you: if you really love this compassionate bullshit and you really hate the american system, instead of turning your country in Europe 2 let’s exchange citizenship...i’ll be glad to skip the whole green card process.
as long as being greedy is still allowed by the law to be the best way to get rich, these ideas of 'inclusive capitalism' will only remain ideas
I think the US is on the decline as an economy, we have gone so far with greed that it's economic system has corrupted itself
America whole foundation was greedy and corrupted it’s just now people are becoming more aware how those in power go about it.
As resources become limited with each passing day: Capitalism needs to evolve and make transition to more controlled, socially responsible and environmentally sustainable form in order to stay in the game.
We need a new age of colonization.
What do you men by controlled?
@@gatekeeping8528 more freedom needs to be given up so there is greater equality
@@Favour135 That's what I think they mean when they say capitalism needs to be controlled
Tell this to the 1%, they will have a good laugh!
George Westinghouse. A capitalist who values and respects the workers and the people who helped him achieve what he had. We need capitalists like him.
George Washington was not a capitalist. He was an important left wing thinker who hade, for it's time, a revolutionary view on democracy. The opinion of the norm back then was that companies should be heavily controlled. That they existed for the american people. This changed with the civil war, when the military industry convinced the leaders to deregulated big companies. This also made USA competitive with the European capitalist powers that hade completely embraced capitalism.
The European capitalists societies, like Great Britain and the Netherlands, where governed by small elites of the most wealthy owners. You know, just like China is today. That is real capitalism and it is anti democratic.
With capitalism came civil strife that forced the companies to increase wages. When the inherently unstable capitalist societies experienced economic crashes they use to be able to just reduce the spending on food for the workers and stuff like that. But with the strengthening of the workers' rights movement punishing the workers no longer became possible. So the governments gained more and more the role of the care taker for the companies. Spending money to support companies from failing during bad times, regulating the market and regulating inflation. Some of these actions only prolonged the time until bubbles would burst, making the unavoidable crisis far worse. China is an extreme example of when the government tries to avoid economic crises by prolonging them and allowing them to become far worse.
Crises during the 19th century where more numerous than in the 20th century, but they where instead worse in the 20th century.
Another thing are all these corporate bail outs for companies to big to fail. Since if they would fail capitalism would fail.
All that this does is to serve as an iron lung for an already failing system.
If you want to make a better society it should be based on scientific research and not the emotions of investors or -voters. The voters just knows what they want out of the society. Hopefully that is a society better for all the people that are parts of it.
@@MegaBanne I was not pertaining to George Washington my good sir, and he definitely was not a capitalist. I said George Westinghouse the one who invented the railway airbrake and funded nikola tesla for the invention of AC electricity and the person who clearly won the current wars during the late 19th century against Thomas Edison's GE company.
iqbal sahibil Wow. Nice try at racism here.
Do you remember the names of any of his workers?
@iqbal sahibil lol...it's the tech industry..not Terrorism
If you look at Switzerland, Finnland or Denmark, they are doing just fine. It's because they have a strong social system, but are still capitalistic.
Daniel Bally how do Switzerland afford healthcare and welfare with their extremely low taxes? I don’t get it !
@Daniel Bally high taxes...dont complain when you live in US
The strongest social systems in Europe are the French and the Belgian system, not a Scandinavian country or Switzerland (even if they are strong).
@@Stoneface_ Fewer population, smarter citizen (good student will qualify for a better job), fewer people on welfare, don't spend that much on useless things, live with their own ability (no debt), no wars, no money for illegals......
@Daniel Bally i dont think you should compare a ex-tax haven country to a non ex-tax haven country. swiss has been siphoning capital from the world for years. it still maintains lower than average tax rates and attracts capital from places where it should have been taxed. your consumption of social services are on the backs of capital that should have been meant for others.
The Earth is dying
cronyism and corporation rise
intro to cyberpunk plays
2 thousand billionaires own more money than 4 billion people in the world. I dont know if capitalism is falling apart, but I know something is wrong.
In a class of 50 only 1 scores the highest.... Work hard
Purujit Bansal
Yes, but the fact that that one person 9 times out of 10 gets helped to get there is what sickens me and millions of others...you fail to see that I work for a company who doesn’t care for me and views me as a worker amongst millions...
@@purujitbansal9793 Only 1 scores the highest, but if that one person gets more points than all the others combined, there is something wrong with the test. And to make it more similar to the real comparison. It would be like one person gets more points than 2 million other people.
And if "work hard" would be the answer, how come that 1 person can work harder than 2 million other people?
It's not a fair system that does not reward hard work in a good way. The system gives studying an unfair advantages over hard work, it promotes risk above skills in an uneven way and it "values" business skills unjustifiably more than truly valuable skills like engineering, medicine, teaching, etc. Saying "work hard" as a solution to inequality in general is either very narrow minded or very cynical.
@@kyokyoniizukyo7171 you are aware that's not capitalism Right?
In capitalism you aren't supposed to bail out Banks or any companies. It's the socialist policies within the economic system hurting the country whether it's Rich or for poor.
Whether it's bailout for a company or a Community. In a free market they should make profit on their own instead of relying on government.
And the rest of us are enjoying a higher quality of life than any other time in history
"Is capitalism dying?" - Lenin entered the chat
Hey there
@@vladimirlenin3604 hello comrade..🚩
Vladimir Lenin let’s start a revolution
Reminder to join a party
They [the CEOs] are scrabbling to look good for the sheep worker drones before we all rise up get rid of the cops and come to burn down their mansions and knock down wall st. It's just a show to appease don't be fooled. The rich get richer. They don't "care" about anyone they shouldn't and they don't have to except for their own families. WE THE PEOPLE have to take America back and boycott their system. Shop small business in you local area, grow your own food, start a militia to fend off the feds, do anything to not pay taxes. STARVE THE BEAST and support your local area only.
I wish there was a way people could mesh Capitalism and socialism together or create a modified socialism. I feel like societies could live happily like that.
You mean market socialism?
Nope, they wont stand for that.
You have to wait until they destroy themselves.....it'll take full automation before that happens.
Ahh yes The Rise and Fall of empires...
Enjoy it while it lasts boys!
6:19 the problem with people is that they are not aware of their actions. That includes myself.
How true. Too many capitalists that dont understand that capitalism is literally killing us all.
Not dying but its creating massive inequality and fixed, unfair markets.
evolving like she said.
That's due to the socialist policies within the government and bailing out big corporations.
In a free market you don't do either. You let companies fail and don't provide freebies to anyone whether Rich or poor.
@@gabbar51ngh You should go live in Liberia. It's the most free market society in the world. No government, no regulation, no rule of law. Good luck.
@@trex1448 less government intervention unequal to no government.
You have weak comprehension. Go live in North Korea if you want Communist dictatorship state.
No, it's no dying, but it's definitely going to change dramatically in the future
Then it will die for sure
The changes that are happening are the problem, public is conned into more bad laws that benefit political class, and then it gets blamed on capitalism when it doesn’t work
Its been dead since the 70s!
Carlos Spicyweiner exactly!! People are not aware that the US has left capitalism behind and government and deficits and stupid monetary policies by the fed are bigger and bigger
It has to change so much, how can anybody still call it capitalism afterwards?
The boarder of where the government begins and free enterprise end is slowly eroding away with the rise of companies too big to fail and state capitalism (government owning or influencing key for profit businesses like in China)
Funny that billionaires and millionaires are critizing Capitalism
Very funny
There is a reason lol
I will never understand why CEOs and other heads of these big brands get paid so much. What's wrong with a $100k salary? Those millions could be used to give bonuses to your workforce which would in turn boost the economy.
No,it never die
Thankfully...
Fuert Neigt
He also is idiot who has no idea what he is talking about, and his most famous arguement is implying that humans are like lobsters...
Sorry, I can’t take the asshat seriously...
@Wait Whet why the real consumers are the middle?
It relies on endless consumption of resources.....
Capitalism killed itself in 1929, it was resuscitated with gigantic government intervention.
Capitalism killed itself AGAIN in 2008. Since then central banks like the Fed are inventing and dumping money into the markets to give the illusion of functioning capitalism. It has utterly failed.
Capitalism is the best system. There will always be the rich, middle class, and poor.
The good thing is that new companies want to target the middle class and poor more than the rich which leads to better technology at a cheaper price.
There are probably less poor people with the internet and technological advancements.
( United States at least).
Here in the United States we can't even handle social security right and they want to tackle everything else ?
Really?
Capitalism is good the way it is now.
Unfortunately not everyone can be middle class and up but that's in any system
Socialism, Communism, Capitalism, it all ends the same way, a few people owning a lot of shit. So always remember behind every system, is a person who is human, making thins turn.
Even with a great government, you can't have successful Capitalism. Most capitalists around the world are supporting mixed economies today to hide their failure.
Why was Adam Smith not mentioned as the founding father of capitalism?
Theo Smith he rejected capitalism himself
Rohan Deshmukh Not exactly. He rejected some of it’s unintended effects.
@@kushaq1173 don't spread here Commi messages
Because nobody gives a fk.
Because he is not American!
It''s feudalism with a different name.
stop it with that stupid shit
What a stupid idea, Feudalism has nothing to do with capitalism.
@@thatguyyoudontknow2962 Feudalism had something to do with capitalism because it was actually a tool for the monarch to give some power to the people in the name of "merchants".
So yes feudalism had something to do with capitalism
NeoFeudalism
3:46 dont talk about india . India failed and had highest poverty when it was a socialist country. Im an Indian
Alen Paul exactly
India was never Socialist though
@@shantanusingh5320 it had very socialist policies in the period of its early independence, that is why russia and india started becoming good allies in the first place
@@amitsahu4127 What were the Socialist policies though?
@@amitsahu4127 I bet, you can't define Socialism.
yes finally capitalists started to understand what Karl Marx said 150 years ago.... most of things arent new. it has been known since Das Kapital.
Capitalists are slow like that, they need more than a century to understand that stuff. Even so, they will not provide a solution, just concessions
Capitalism has allowed my CEO to make over $20m last year.
Then start your own company and be a CEO yourself and stop sulking like a middle-class . Wait a sec you are one 😂
starting a company and being a CEO is like a lottery or casino game, there is something in mentality of bored working people, they need a dream to become god-like one day
Coz he deserved it. Check his room. Maybe he is still working, or he was working when he was in your condition, while you're relaxing and watching UA-cam.
There’s nothing wrong with a CEO making $20M. The true problem is when the company is losing money and cutting jobs and/or benefits but the executives are still getting bonuses.
@Fuert Neigt in practice, it is a very tricky subject. Who is a talent here, who has invested more and who should be paid more. Examples that I see, I live in Russia, describes a top manager is just an average worker who hides that he has weekends during the week, a shortened work day, he redirects overwhelming work to others, has a lot of travels payed by the company, he understands that he worths less than he is payed, but he has to say something to the others and it is a beautiful lie.
I do see inequality but because of technology leverage, an increase in jobs but with the pay remaining low as ever to minimum as possible, and because of lack both leadership and clarity in the youth.
I'm originally from a Communist/Socialist country, and the day the US stops being Capitalist is the day we go down. Capitalism lifts more people out of poverty, even the many "poor" people in the US are still considered rich by world standards... In a Capitalist society if you work hard you can always lift yourself off, in my country doctors make the same as taxi drivers, which leads to doctors migrating or working in other fields to make more money
According to Americans, Australia and many European countries are socialist countries. However, we have a very high standard of living with much better health outcomes and cheaper education than america.
Mixed economies tend to work with best, with Germany and the Nordic countries being prime examples of it. While the US has a more of a brutal form of capitalism.
@@jsmetalcore Germany is a 100% capitalist country. No 'mixed' economy.
@@fridge6668 Every economy for the most part is a mixed economy. Germany has universal healthcare, public education, strong unions, etc
@@jsmetalcore germany doesn't have any 'universal' healthcare. Sozialamt simply pays for very poor and that is all. Insurance is paid by employer.
The part about "Shareholder value" and Milton Friedman is wrong. That idea was conceived in 1919 in "Dodge v. Ford Motor Company. That's why people don't trust the media you don't do proper research.
@Fuert Neigt I'm not saying that go read about Dodge v. Ford. Ive read Friedman he didn't came up with that that's what I'm saying.
Mario Rafael do you have a link because why would a court case create an economic and business theory
Dead for middle class in India.
I think it has to do with the increase in governmental influence and control worldwide over the years. Also, there are too many too powerful monopolies. This could lead to corporate fascism. The rapid automation of many jobs is definitely gonna transform capitalism. Idk if it’ll be for the better or the worst.
Capitalism is dying? Good
@Pierce Nostrand- Class of 2024 I'm joking okay please don't take me seriously.
And Warrant Buffett partner Charlie strongly advocate for capitalism
*Warren
“It is not capitalism failing us, it is capitalists failing us” J. Bougle
yeah, just hoarding money and not trickling down is just doing worse for the whole economy
Its the system of capitalism that compels them to do so.
@@nevadataylor Let me tell you a secret, the same human properties which are failing capitalism do also failing non-capitalism :)
Oh no its very much capitalism.
Capitalism needs infinite growth to work. The failure was built in from the start.
Real chage from the existing form of life will come about when the important people in such a society as this, that is the richest people, feel unsatisfied and decide to change it. Change always come from above
oh no im starting to hear the soviet theme
Really well-done general explainer -- thank you.
We need a mixed economy -- capitalism and socialism both. Capitalism's "true north" is profit, it's up to us (society) to build (and enforce) the guardrails to keep the capitalists honest, the environment thriving, and society itself as fair as possible. Without rules & regs & fair taxation, capitalism will just do what it does -- make incredible profit for the few.
What a joke, 'keep the capitalists honest' BHAHAHAHAHhahahaha ... there is no such thing as an honest capitalist no matter how hard you try. capitalism will always be fkn over the other person for one's own benefit.
@@nevadataylor Socialism has had an even worse track record around the world when put into practice, a la Animal Farm. Stalin and Mao and Pol Pot, etc. killed many tens of millions of people each - read all about it. Capitalism has raised living standards of everyone in the past two centuries. Risk and intelligence should be rewarded, and enlightened self-interest works in the big picture. But unchecked capitalism can be just as bad & dishonest as unchecked socialism.
The only thing that will save either socialism or capitalism is strong democratic institutions with regulations And institutional checks and balances to keep greedy and fanatic people honest. We let our institutions wither - that’s why crony capitalism is bleeding society. Both capitalist fanatics and socialist fanatics are stubborn ideologues, blind to the downside of their worldviews, and have cost the world a lot of grief. Who knows how things will work out from here…
all the jargons, in the end, the following is still true, the rich get richer, the climate is dying, basic needs like food and even clean water will get scare and possibly more expensive.
Ultimate destination of every country is Communism at a strategic dynamics. If the world leans much on capitalism the economic disparity never ends. The Chinese version of capitalism can be translated to Communism 2.0 which by the sense to convey that most of the chinese corporate organizations are backed by their government. This indeed promotes the confidence within their general public that we are not alone and there is high hand to raise them up from their current situations and thereby influences and increases spending power of general public.
There needs to be a balance between the objectives of a company and the concern for the labour force, environment and overall inequality in nations.
I agree but that is hard to enforce with people wanting to grow their companies more and more.
What you're advocating is worker ownership.....literally socialism.
@@coaldoubt2879 Looking after the welfare of the poor is the responsibility of the rich
@@mohamedyusuf5569 It is the responsibility of everyone.
The rich neglect the poor
Capitalism isn't dying.
We are.
Because of capitalism
Keynes stated that by 2030, A new form of capitalism will emerge something that is beyond capitalism, maybe these are the classical signs of it and maybe we should get ready to embrace it.
Swethavahan Byramoni y’all need to learn about communism from non bias news source because it actually works. Listen to what people who are communist have to say about it and why they work. Most people talking point is “ohh communism killed millions of people, without failing to acknowledge that capitalism has done much worse. Remember guy’s colonialism and slavery practiced the economic theory of capitalism and we know how destructive that system is.... picture that system of slavery and compare to how your bosses exploit you while they make most of the money and you get little profits
@@evano5635 USSR failed economically being a superpower as they opposed to liberalism. It's about the survival of the fittest. It's a free world. You have talent, you grow, It's unfair to say that those who are talented should be on par with others. I know about both sides. Just because one is flawed doesn't mean other works.
Swethavahan Byramoni if that is the case could we even call it capitalism or not something new?
Though technical cooperation is important, structural change should be the force that reconstructs our domestic and international economic system. That doesn’t mean completely ignoring private sector parties and market forces, though. It means holding them accountable through modification of political and social worlds.
Luckily here in Slovenia (according to Gini index) we are doing more then well against diff. between wealthy and poor people. Which is how it should be if we want to improve civilization overall.
Venezuela, cuba and north korea says hi
@Stian Myrdal Laursen woow... I am forced to admit even though I don't exactly agree, you spoke straight fact
you forgot Russia. 70% of economy in russia is under government control, especially TV channels and mass media
If working never die, capitalism will never die.
Bernie 2020 then.
jeck jeck he wants more socialist policies so I’m seriously skeptical about his true plans.
@Fuert Neigt More like "Learn to love something that pays well". The other way around is much, much harder.
@@earthchansociety7769
Nothing socialist about healthcare or education. You are kind of a person that thinks fire fighters are socialists? :/
jeck jeck firefighters are government. The movement of true business into government industry only leads to stagnation. There is need for control especially in essential businesses but not total control or Venezuela will occur
1:39 the legendary station wagon
What is the alternative? Cooperation. It is not capitalism, it is not socialism, it is not communism. It is shared ownership and responsibility. Everyone has a double roll: working in the cooperation and owning a part in it. I saw it first, then I heard about it.
It was a huge supermarket in Spain. Erosky, i think is the name, and thhey are everywhere. It was something different about employers, that i never saw in other big stores, and remember telling my man that they come over different, act like owners of a small store, not employers of a huge company. Few months later i saw a documentary about Mandragor, little village in north Spain that embraced cooperation as way to do, and grew enormously in 30-40 years, having industry, retail, banks, even university now, organizing everything as cooperation. One of their business was this supermarket chain.
They were hit by the last crisis too, because their customers and sypliers suffered or went bankrupt, but not nearly that much like the rest of the world. Their banks didn't participate in risky investments, for example, and the bank cao said:" my family, friends, what would they say to me if i do that with their savings?" So, after globalisation, where what you do for profit impact people on the other part of the world, people that you don't care for we have to organise our activities so we can see the impact of our activities. Our brain is developed that way, i assume, that we can really care only for our direct surroundings, and maybe we have to take that in account when we organise our lives and means.
Short answer: No
Long answer: it’s better than ever, so... No.
Both are dumb answers.
jeck jeck care to establish why?
@@RandomPerson-go5sn
Look around you, it's worse than ever.
jeck jeck so you can’t buy what you like at lower prices? World poverty hasn’t decreased from 90% to 11% in the last century? You are finding it almost impossible to find a job? What exactly am I suppose to be looking at?
@@RandomPerson-go5sn
Medicare, student debt, unlivable wages for working like a horse, pollution, ever growing influence (aka Bribery) on politics by corporate overlords, peonage etc... You know, all the things you closed eyes on.
Spoiler: no is not. It’s thriving and more awesome by the hour.
I like that idea of Stakeholder Capitalism. It addresses both the fact that people pursuing their own self interest stimulates an economy most (since who doesn't put their own well-being first), while also addressing the fact that personal well-being ultimately relies on collective well-being. One's unlikely to stay healthy in a sick world, for example. This overcomes the demotivation of socialism and the extractive destruction of the predatory, narrowly focused capitalism that currently dominates. The Social Democrats have some good additional points though. It is also important for taxes to be used to buy the things that are needed collectively instead of leaving that to the profit seekers. Education, public transportation, and healthcare to me fall within that sphere, as does national defense and interstate highways. The US is falling a little short on the first 3 of those 5.
It is down to a simple question: is the market mechanism more efficient at allocating resources than a central authority. It is widely accepted that the market is. That said it is also well understood that a pure market economy is imperfect. That is why we need regulation. In terms of short term vs long term, governments have a key role in this through tax incentives and other support schemes. For example ROCs/CfD to incentivise large renewable energy projects in the UK. Whether politics moves more left or right does obviously impact the level of inequality but going fully left is just as bad as going fully right. I did love that in Ireland that people who don’t pay their share of tax get published in a newspaper. Good old peer pressure
Government regulation and intervention only creates a temporary stabilization not permanent it only makes it worse
I am from a third world country and totally support capitalism. It's not perfect, but this is the best we can get.
Yeah exploitation, poverty, and environmental destruction is the best we got
Until a worker-owner dichotomy is broken, the dialectics will always enact. Proletarian revolution please :)
Clickbait Title, all the video is about transitioning from Shareholder Capitalism to Stakeholder Capitalism.... At the end she says that Capitalism is not dying but evolving.
Saved me 8½ minutes of my life. Although I hit the comment section right after the beginning where she's making it look like only the west has embraced capitalism 🤨
So how CNBC will survive (on youtube) ?
It’s been dying for a long time now. Frankly I’m surprised that it’s survived for so long even with all the horrors of it apparent. But democratic socialism is still capitalism so...
Well it's kinda tweaking it a bit.
Jason Huang what do u mean is dying ?
Jason Huang are more countries becoming less capitalistic?
A social democracy is key. We need the govt to keep check on the overpowered lobbyists as opposed to the lobbyists having the govt in check. As of now there is no SOE but a enterprise owned state.
They didn't ask my opinion of Capitalism. If they had, they would have gotten an extremely positive review!
The biggest US cities and counties to have gone bankrupt
San Bernardino, California: more than $1 billion in debt
Two months after Stockton filed for bankruptcy it was followed by San Bernardino in August 2012. Though this southern California city had a slightly smaller population it carried much more debt. Notable for being home to the first ever McDonald’s restaurant, San Bernardino’s economy relies heavily on services including government, retail and restaurants. Like Vallejo, a 1994 naval base closure cost the city some 10,000 jobs and sparked an economic downturn.
The housing crash had a significant effect on the city’s ability to collect revenue. Debt from pension and other retirement benefits had been mounting. As part of the city’s bankruptcy plan retirement health care was cut, but not pensions, though city contributions dropped. San Bernardino also decided to end its city-run fire and emergency services and use the county's instead, with an estimated pension cost savings of $65.6 million over the next 20 years.
By 2016 the city had cut nearly half of its full-time employees from 1,140 to approximately 600. Other changes included contracting out services for a soccer complex, street sweeping and solid waste collection. San Bernardino exited bankruptcy in 2017 and estimates it has cut $350 million in spending over the next 30 years. However, it notes that the costs related to bankruptcy will reach at least $25 million, primarily due to the costs of legal and financial professionals.
Orange County, California: at least $1.5 billion debt
Well-known in pop culture as the setting for television shows such as The O.C., this suburban Los Angeles county made up of 34 cities and towns was not suffering from an economic downturn when it declared bankruptcy in 1994. In fact, the county's debt was generated by a series of risky investments made by county treasurer Robert Citron based on advice from investment management firm Merrill Lynch, which encouraged the inexperienced investor to follow a high-risk strategy.
When it came to light in 1994 the Public Policy Institute of California called it an “enormous gamble with public funds" and labeled Citron as "seriously under-qualified." Why? He had purchased derivatives and other debts, which fell prey to the Federal Reserve Board increasing interest rates, and left Orange County at least $1.5 billion in debt.
In November 1994 auditors told county officials that Citron had lost the county a serious amount of money. This led to his resignation and the county sued Merrill Lynch. The Los Angeles Times later reported how Citron relied on a “mail order astrologer and a psychic” for interest rate predictions. But the events had much wider ramifications, and the county was forced to lay off workers, freeze new hires and make severe cuts to the budget. In July 2017 Orange County made its last bond payment related to the bankruptcy.
Jefferson County, Alabama: $4.2 billion debt
Home to Alabama’s most populated city, Birmingham, this county filed bankruptcy in 2011 following a sewer scandal. In the 1990s county officials launched an overhaul of the entire sewer system in Jefferson County, a construction project that was supposed to create jobs while improving the area’s aging sewer infrastructure. However, two major problems relating to the project’s financing put the county in crippling debt - the largest amount ever for a municipal bankruptcy filing at the time.
There's definitely going to be a change, capitalism with its constant need to grow can't be sustained forever
Yeah the change is called 'authoritarianism', which is always what capitalism morphs into.
@@nevadataylor true... but if we finally learn from past mistakes maybe it would morph into some kind of social capitalism where people's and companies' interests are more balanced. Yeah I know it sounds idealistic
@@beatjunkybg Its not 'we' that need to learn from past mistakes, its capitalists that need to learn this.
Like I continually point out, how do we have capitalism in a finite world? Its not humanity that is destroying the world; given the scientific data, its the capitalists! There is no such thing as 'social capitalism', its as much of a myth as 'ethical capitalism'... never going to happen.
To everybody who is thinking: „Oh yes, we need to overcome capitalism!“
Does capitalism has its problems? Sure, but it is the best we could have! Think twice when looking at „alternative“ systems. *Look at the way people vote with their feet before you judge which system gives them better conditions.* Is it that people move from capitalist systems to Venezuela and Cuba? Or is it might the other way around? Make up your own mind. Think twice.
Meh, people's wants more wages or even free money.. I too as an investor and trader wants better system without losing the benefit of profit
But what is it, my solution always dead end except more taxes for wealthier above me
Why are you picking BS examples of corrupted political systems?
AFAIK, lots of people are immigrating to countries like Finland, Germany, France, Holland, Australia because they don't follow the perverted capitalist practices of the USA, nor do they follow the extremely authoritarian socio-communist practices of Venezuela or Cuba. They fall right in the middle-ground, which is what people aspire for.
Nachannachle I didn‘t refer to the US, rather to people who want to overcome the whole capitalist system at all. So, I would not disagree with you. However, all the countries you mentioned are still based on capitalism (=private ownership). Therefore, no planned economy with state ownership of business, industry etc.
News channel should not be allowed to be privately owned.
When you capitalism so hard you socialism
It works if well managed with strong government rules a strong minimum wage nationwide, UBI ...ect.
It is very simple really.
Too much money is held in stocks instead of in the actual economy
All these companies convert all their tax breaks into buying more shares.
Money that can in stocks should be limited
Money needs to be invested in beneficial things eg loans for small businesses
Even governments and Schools use their excess funds from endowments to build a stock portfolio
"It is very simple really."
Keep telling yourself that.
I hope not
Why not? What has captalism ever done for you? Impoverish your family during recessions which continue forever...give you the internet to spread false truths and propagate the failures of the past like some abusive relationship...
Let it burn, let it burn for all I damn well care...
Does the world have have any other economic policies?
If we put profit before people eventually we are all going to lose
we can only walk so much before we get tired and see this is not fair!
I dont get people like you. Capitalists like yourself, get upset about the poor stealing bread, while Socialists worry about capitalists stealing billions! Which is worse?!
What is truly 'not fair' is that we have to give up a portion of our hard earned money, to support the rich elite class. Most of these rich elite ckskrs nowadays have inherited wealth from their parents, and never had the experience to work to earn their wealth.
I’m sure since CNBC has become so liberal recently that they might need to have a refresher course on capitalism... so that was interesting!
In soviet russia capitalism running away 😂
@Fuert Neigt you forgot the kgb, whilst it is in Russia no one is of the absolute power
@Fuert Neigt 60 000 000*
Islam is the solution.. it ruled the world.
@@Celevie Islam only gives terrorists. So no. Islam isn't the answer.
@Fuert Neigt what kind of propaganda are you watching? The Russian prime Minister is giving more power to the parliament now not the other way around.
The Future of Capitalism by Paul Collier is a great read on this subject.
Capitalism in isolation is probably neither good nor bad. But we're running into the limit of a finite earth. Lack of retirement planning in the post war years also means pensions funds and those nearing retirement are trying to make up for the shortfall by taking on more financial risk. But rather than actually building something, these money are chasing existing assets and causing asset inflation. The difference is like a pension fund gradually building elderly-friendly retirement homes for the past 50 years vs another fund buying up existing facilities in a few short years.
Give the workers a seat on the company board.
Yes workers should control the means of production
They're called unions. An alternative is self-employment
@oang245 h Soviet Russia did allowed it to happen. Workers voted for CEO. Approved by the Communist party of course.
@@GameFuMaster and they are good when things go right. Ideally
We've seen just the start. Wait till artificial intelligence takes away jobs like lawyers, accountants, radiologists. Robot takes away taxis, truck drivers. Machine kiosks cooks burgers, pizzas.
Don't you think it will create more technical jobs.
@@dd-uf9nw nope by the stage an AI can do surgery and lawyer work, then it can program itself better version. You will be basically taking the human out of the equation.
@@prasunkumar117 people said the same thing about cars replacing horses. You can't predict the future.
07:04 If a 200 lions signed a declaration stating eating wildebeest was no longer the main focus of their diet, would you really believe them?
What is the alternative?
Socialist: it has started 💃💃
Why does it always seem like "great" economists are always talking out of their ass and the political leaders just blindly follow their "advice"?
They do called pundering
Because it’s all non sense in the end
State ownership doesn’t do away with capitalism
No it doesn't.
Fuert Neigt if the production operates on a capitalist basis (production for exchange motivated by accumulation of surplus value), the fact that the legal owner is the state does not change the capitalist character of that enterprise. Capitalism is a mode of production that encompasses global production. In that global process that are countless enterprises (or entities) involved, with diverse forms of ownership. So if a state-owned oil industry provides hydrocarbons for a private enterprise, is that not still capitalism? Whether the owner is Aramco or the state makes little difference
Yes , all in ur mind
The trouble with capatilism is that it has always relied on someone being poor.
it's time to start a whole new life in another planet.
and guess who gets to live there? the super rich, oh they might ship spaceloads of poor ppl there as miners and workers to mine resources for the rich living there
Mars but only rich can get there
@@jizhang75 makes no sense, Mars is a dead rock.. why rebuild a dead mars when we can save a living earth,
@@lingth A lot poor ppl vs 1 rich. Rich can't survive. lol
here I save you 8 minutes of your time the answer is : no but the current system of capitalism is changing to maybe a better version to prevent this system from falling.
Sounds like exactly what Yang is proposing
Ironic how people like Millionaire Sanders and Billionaire Buffet who were most benefits from Capitalism are now blaming capitalism lmfao.
We need a form of capitalism where we don’t start at $0. #Yang2020
Arise ye workers from your slumbers
Arise ye prisoners of want
For reason in revolt now thunders
And at last ends the age of cant.
Away with all your superstitions
Servile masses arise, arise
We’ll change henceforth the old tradition
And spurn the dust to win the prize.
Employers should share the profit with employees instead of quick expanding.
Indian TATA group is prime example of how companies should treat their general employees.
That's socialism