Right from the greed of a capitalist who doesn't care for health. To the greed of a communist who holds your family hostage and either kills you for treachery and your family or imprison you and your family for terrorist actions against the communism by not meeting inhuman insane standards and goals
When conservatives get so triggered they start arguing with Sponebob quotes. Then again these people also supported bombing the fictional country from Aladdin just because it had a vaguely Arabic-sounding name, so maybe they're not too bright.
The only difference between the Robber Barons of the past and the Robber Barons of today is that the Robber Barons of the past were at least honest about their unethical business practices.
The robber barons of today are Bill Gates(Microsoft), Jeff Bezos(Amazon), Tim Cook(Apple), Mark Zuckerberg(Facebook), Sundar Pichai(Google), and Elon Musk(Tesla).
Because most people learned their political science from 10 min video on UA-cam. They are too lazy to read the classics, just join a "side" that they think is cool like the sheep people they are. Also don't forget all those conspiracy theorists that think they hold the key to understanding the universe.
"Then militias are brought out to ease tensions" is about as hilariously inappropriate as "then clowns and strippers are brought out to make the funeral more dignified and solemn".
the pinkerton's were turned into the government and FBI so there still around in 2022 ( probably continued control by some 🧢's but that's speculation and not facts that i can back up ) yep there back in 2022 🧢 capitalism untrained is great isn't as history repeats itself again 😑🤑 and next is NGO's run by these people so they control the narrative instead of worker's compensation and rights and government-representing
@FWD: 7 been done before as well as the FBI parts of the reason i still wondering and rumours about the FBI being used as a corporate/elite-class tool to some extent inappropriately and not a justice department/tool only
@@comrat9805 , It is only while the monopoly is being constructed that the prices are low. Soon as the monopoly is in place, those prices will rise to recoup the losses that went in creating the monopoly....
The US military actually bombed miners who were striking, they brought in bombers and fecking bombed them! en.wikipedia.org/wiki/West_Virginia_coal_wars
Is anyone entitled to a job? Could they just no go work elsewhere? Do you understand where benefits came from? It was the LACK of finding working.. No longer was "money" something people cared about.. but days off.. healthcare.. retirement.. that was something they could offer AND keep wages down. It would of be GREAT if we didn't allow bankruptcy from businesses. Now you have to government trying to force benefits and high wages.. In what world does that seem right? If you don't feel like working for what is offered.. Don't take the job.. if others DO take that job, don't cry because you wanted it.. just at a higher rate. EDIT TO ADD.. THIS is why bringing in immigrants into the US is bad. No longer are citizens able to "not work" at low paying jobs.. because immigrants come in and do that job for less because it was more than they could of made back in their own country. It's so epic to see the left's position in all of this because they are truly harming the causes they speak for by caring about EVERYTHING.. this is TIED to each other.. You can't have both unless you truly want socialism.. but no SOCIALIST nation would EVER let in immigrants.. because they would could a negative effect on the market.. WONDER WHY OUR MIDDLE CLASS IS SHRINKING!?
@@ericblack2252 You do know there are laws regulating that? Immigrant can't work for less if there's a treshhold. Your country woudn't exist without immigrants be grateful we still want to come.
+VHSAlien You idiot. You don't have to work for him. Sounds like you would have rather just whined about it while your children starved, instead of actually working.
>When your neighbour cuts his grass and a blade falls on your lawn, thus violating the NAP, so you get in your A-10 Warthog and strafe his house, killing his entire family.
Isn't this just like the US "invading" Northern Syria & Iraq, in order to "avenge" the Kurds (a group most Americans CANNOT even identify, much less identify with)?
@@joelholmes1260 No, Clinton wasn't elected... Go back and listen to Putin's words right before the 2016 US presidential election (or, you might be exactly correct).
And while it's there it's especially tolerable for us as consumers, as long as we get our decently priced consumer goods at the cost of horrible mining practices in Africa and horrible production lines in China. EDIT: "The Ones Who Walk Away From Omelas" is fantastic reading relating to this subject; Prosperity at the expense of suffering of a few.
@@sergiowinter5383 And chose to give it up by not running for president again, which he would have won easily! Some are of the opinion that he could have become a king if he would have chosen so.
The only reason capitalism became oppressive was because there were no anti-trust laws. As long as there is competition everything else works itself out.
@@Dennis-nc3vw that is at the very least a vast oversimplification. There is no nation with a capitalist economy that thinks allowing for real competition will just sort out fire protection or food safety for example. For some things a profit motive and genuine competition is best for the consumer but some things are incompatible with a profit motive. Private prisons come to mind or the misuse of civilians in the Iraq War. This isnt an ideological debate I'm trying to have. It's very practical, in some cases there are clear obvious conflicts of interest.
I mean the East India company had a private army twice the size of the british army at the start of the 19th century and controlled around 70% of the world's trade as well as essentially ruling over the whole of India
THANK YOU! Every libertarian says if the government didn't exist, nothing like this would happen and totally forgets that no government just means private armies.
Fun fact, the anarchist who shot Frick wasn't just some anarchist. He was teenaged Alexander Berkman, who became one of the leading figures of Anarcho-Communsim later in his life. He wrote the 'ABC of Anarchism'
@@rachelslur8729 Stalinist communism it's authoritarian, but it exists also the ideology of anarcho-communisms. Marx himself stated that the final form of communism it's the dissolution of the state. The political spectrum it's way larger than you think
@@davidespanti If communism/socialism/ancom in best, then failining governments would be adopting parts of it out of necessity. What we observe instead is Venezuela, USSR, North Korea, Cuba adopt parts capitalism out of necessity.
@@rachelslur8729 ok, so, two major things: 1. I never said communism is the best ideology 2. You know that politics and economic theories are a broad spectrum on things that collide into each other? It's ALWAYS a mixture of things. When it isn't, it collapses (aka Soviet Union, for example). In the majority of civilised world we have something like free health care, but even in the USA there are unions, a progressive taxation and the general concept of "paying taxes to receive services". This is thanks to a kind of politic that it's not socialism, but it's influenced by it. In fact, in the majority of civilised world there are social democratic parties or social liberist parties that works with a mixture of capitalistic economy and socialism (and they do a great job, just look at Sweden for example). There are a lot more economic theories too, like Keynesianism or Monetarism. It's stupid to classify all range of politics just to capitalism and socialism. Try searching on Google "Political compass" and you'll see
Wdym? Knowledgehub ended video saying things are better now, we have learned from history and you gotta be pretty dumb to not realize that, no offense. It's like saying colonialism is coming back... But it isn't, it'll never, cause we have learned.
@@GnosticLucifer 🤨big tech, banking, universities, and big pharma all have massive influence and power over government, which they use to make policies that benefit them and screw us over. Things are better now, but if action isn't taken, they will get much much worse
@@benayasdebela1164 True, but you're looking at it the wrong way. They have influence and power over gov because gov has influence and power over people, gov can indirectly decide what product you use specially above mentioned big tech, banking, universities and pharma. THEY SHOULDN'T HAVE THAT. The idea that capitalism leads to monopoly is a myth, literally every monopoly ever is one way or another supported by the gov. Capitalism isn't the problem, the influence gov which can easily be corrupted by money due to their dependence on money to win elections and govern is. We must take action to lower gov influence on these products and services. We should specially eradicate IP cause the creators of idea barely get any benefit, most of them are long dead while big companies are profiting off their ideas cause gov won't let anyone else use those ideas.
Back when Britain was cool! you know back before they're busy playing second banana to, Canada and fourth banana to the United states! poor pathetic Britain, your little more than a lapdog at this point! However the United States neglecting you has led to you catching a bad case of the migrants, cough I mean fleas
It’s more of an Oligarchy now, where companies get as big as possible for profit and investors but just barely out of reach from being labeled a monopoly.
@@oneofmanyparadoxfans5447 That isn't true, cooperation is more profitable than competition. But only if cooperation is by all parties involved. when a subset of the parties cooperate to compete against the rest of the group, it drives profits down. When I say profits I am talking the increase in wealth (real profits), not the rate of transfer of cash from one party to another (false profits)..
@@TheNoodlyAppendageusually competition is better for the society and cooperation either can't be a long term equilibrium or will be in the form of a cartel or something so however profitable for the cooperating agents it usually is not profitable for the society as a whole
@@Nico-ig1mr That is an insufficient answer. Everyone knows they avoid taxes. The question is do these companies pay lower total tax sums than in the 19th century. Sounds unlikely. Let me be kind to your position; can you give me evidence that companies (which is so broad a term it doesn't just include the Fortune 500 master-evaders, but any limited liability business) pay an effective tax rate that is lower than they did in the 1870s to 1890s? Sounds unlikely. Show me the evidence, if there is any. If you can't, you have to admit that your statement is false and ought to delete it if you respect truth. Simple. No argument required - just show me the facts or retract your statement.
@@fatpotatoe6039 What, is Nico a fuckin' mind reader? YOU asked a vague question and, I think, received a satisfactory answer. Talk about disingenuous -- that's your follow-up post here. If you had asked the "actual question" that you meant in the first place, maybe your gripe would be legitimate. Amazon paid no federal taxes on a billion dollars of profits last year, according to the article. How about this itep.org/4-3-billion-in-rebates-zero-tax-bill-for-60-profitable-corps-directly-related-to-loopholes/ then? Not only did sixty of the Fortune 500 companies pay zero taxes, they even got tax money *back again*. How about YOU showing that companies in the 19th century were able to pull that off. Sounds unlikely. And this past month, it's even worse with the most recent corporate giveaway bill (the Corona Virus Heavenly Loving Gifting To Humanity Bill or whatever nonsense they call this shite): around 800 pages, hidden within are RETROACTIVE TAX CUTS going back five years. That's right. A good portion of the working class gets a measly $1,200 one time payment, but the banks and corporations are forgiven taxes paid years ago, paltry as those taxes are in the first place. Name me ONE thing even close to what the corporations in the 19th century could have gotten or had gotten that reaches that level of evilness. Sounds unlikely.
@@fatpotatoe6039 "As of 2019, the Fortune 500 companies represent approximately two-thirds of the United States's Gross Domestic Product with approximately $13.7 trillion in revenue, $1.1 trillion in profits, and $22.6 trillion in total market value. These numbers also account for approximately 17% of the gross world product" en.m.wikipedia.org/wiki/Fortune_500#Influence. Even if the tax rate was lower back then for smaller companies, it's lower now with the major companies who pay little to nothing in taxes, using tax havens, lobbying ect. The majority of the GDP is represented by the major companies. After 5 seconds of googling I found this: In 2018, 91 of the top fortune 500 companies paid $0 in taxes. Many others paid a small amount. Congress is corrupt and bought out, and dear leader isint helping to drain the swamp like he promised. In fact he filled it, and we can see it paying off in the stimulus bill. Like the guy above me said, if you wanted to de validate my argument, I guess you could compare the tax rates of all the companies now to before. However this is kind of like the oh, your a _, name every _ (hopefully you have seen it, otherwise Google it) meme. It would be a huge waste of time to do it, but I could. However I'm not the type to put that much effort into arguing over the internet, as either A, the person is usually just looking to fight and won't change their beliefs, or B, they will probably forget about it in a day or two, and the subject was probably pretty trivial anyways.
Ruining businesses just to buy them out, reminded me of a story I was told about a rich family or brothers that owned a large bus company and when they started up in a new place, to get rid of the local comparation they would sell their tickets for cheaper price than the smaller companies just too ruin them. Then once they were gone, they would increase the price to make a profit as they had another money to lose some profit so long as the comparation when bankrupt.
Yeah how do you think Walmart ended up the megastore in every single town in the country? They have more small business blood on their hands than anyone ever.
it is not that good of a business model, they don't profit as much because they have to cover for the losses during the time they were running on low prices. You see, most monopolies and oligopolies in history were created by government intervention, for example the steel industry, which was helped by import tariffs.
As a general rule, if you work more than 40 hours a week and your job pays less than $20 an hour you can pretend to work harder than you do. If you finish things too quickly the boss man just gives an unrealistic work load anyway with no raise, so working hard is pointless.
@@dustinalbers8160 Such a great country that people across the world would literally kill you to get your passport. Grow up. Improve things, but don't be a tool.
@@shinryusaiha Which is why the US suffers by losing citizens to other developed nations, right? Oh wait, that's not the case. In fact it's the opposite. This in conjunction with a relative HDI kinda points to you being too brainwashed to take seriously. I ain't even saying the US is the best by any margin; just that it's pretty decent.
@@thechicken5939 Latin America and Africa actually experienced the highest improvements in all of their histories, with absolute poverty, conflict, and violence decreasing drastically. If its on fire now, then it was a a giant dead crater littered with the remains of babies before.
What bugs me is how even market competition is bastardized and exploited. In fair competition, multiple entities compete over the same customers. In our current system, customers are divided up between companies. We see it in the gaming, and streaming industry (not to mention ISPs) with exclusives, companies are buying exclusive rights so they basically have a mini-monopoly on it, forcing customers to pay for several steaming services or gaming consoles in order to get a wider array of content. I think these companies should be competing based on innovation of the service. If Netflix, Hulu, and Amazon all have the same content, then we'll end up choosing based on the work the actual company puts into their website.
Chase Cook Barely. Tell me what operating system your phone and computer have. It’s either IOS, Android for smartphone and macOS, windows or Linux for computer. Basically an oligopoly
Chase Cook all that exploitation and abuse has simply moved from where it previously existed. What occurred in the gilded age now exists in other nations that are ruthlessly exploited.
@@chasecook6994 That's not true, China's society follows the central power's "China model" which relies heavily on allowing private entities to essentially lease government assets for temporary usage. There's no real private property in china and this makes the society fundamentally communist since the Chinese govt can cease assets from individuals and groups without any real judicial process. This is part of the reason why china steals patents and gives them to their favored dummy corporations that effectively function as branches of the central government.
@@chasecook6994 Not true. Many workers are still paid very little for long hours work, whilst the Boss makes the most profit. Many workers still feel unfulfilled in their work, knowing how expendable they are. Due to relatively high unemployment, some forms of labor are cheap, so workers can be done away and replaced easily.
You mentioned the founding of Canadian unions and the labour day but one of the most important dates for the international workers movement you did not mentioned. Early May 1886 killed the police dozens of striking workers in Chicago (Haymarket riots). That's why the labour day is in the most countries on the first of May.
That's not exactly correct. The first of May has been a spring holiday in most of Europe for a very, very, long time. Far before it ever got associated with labour or socialism. The most common tradition for a lot of these places was dancing around a May pole. And that is who associated May 1st with a labour day - Communists and Socialists. It was decided as the 2nd Workers International to co-opt the already existing spring festivals and add on a labor day with the express purpose of making it a Socialist/Communist holiday, not just a worker's holiday. Tellingly, the places that adopted May Day as a labor holiday (mostly in Europe and South America) are much more friendly to Socialist and Communist parties in general, while in the US, where Labor Day is in August, they aren't.
Gilded age fits perfectly, if you lack at the economy as a whole and the richest 1%, it seems awesome (gold) but it's just a covering over the horrible reality.
Do a video about how Teddy Roosevelt took a bullet to the chest as he was about to give a speech, tells the audience about the wound, shakes it off, and continues to declare his speech for an hour! As he is bleeding!
"Well of course you're just in the middle you're a furry, Ferrys are notoriously moderate!" I'm just being sarcastic there as ex furry, I know that curries are notoriously left-leaning that's why left the fandom there are too many dum-bass liberal snowflakes! That and all the weird disturbing fetish crap gave me nightmares! #BurnYourFurr
The last job I worked was 12 hours a day 7 days a week. No days off, no holidays, no sick days, "salaried" that equaled less than minimum wage, so I quit and went to college. We currently live in a new gilded age.
2:20 Well that is not strictly true. The technology that developed rail also went into developing steam powered ships. Which were not only several times faster than sail boats but also far more reliable. A sail boat could take between 1,5 to 3 months while a steam ship took just under 21 days no matter what the wind was. For a business predictability is important. Another big thing is that a steam ship requires a smaller crew which makes them cheaper to run. (Of course compared to today's ships the crew was still very large.) For the US though a big factor was that the Panama canal was not yet build. So with the west rapidly developing and the center of the US largely empty trains were the only way to bring goods from the East and Europe to the West. The building of the Panama canal greatly weakened the influence of the railroad companies.
To build the panama canal we liberated a bunch Of people from a dictatorship, establishing a “democracy” then used… military force to threaten them into letting the construction began, yellow fever killing thousands of workers and damaging international relations
@@kjl3080 Actually the US put a tremendous amount of effort into fighting yellow fever. It was what killed the French attempt a few decades prior as yellow fewer and other tropical diseases killed workers faster than they could be brought in. The Panama canal though was largely in the middle of nowhere so the militairy didn't really 'threaten' them into it. Most of the natives and settlers just left the Americans to it. I don't know of any relationships that were damaged though. Europe was the only area at the time worth caring about and none of them were hurt by the canal. Almost all trade between Europe and America remained the same and Europe's trade with Asia went through Suez like it always did. The panama canal really only majorly impacted the America's and most of the south-American nations were also happy with it. Even the people of Panama were happy as it was a major boost and made Panama the richest country in central America.
It's weird how in the same breath they criticize monopolies on railways as well as people building alternative additional railways. Pick one or the other lol
"Existed..." "Fun to look back..." "Something romantic about a time of unchecked capitalism..." *Looks around at total corporate domination of society at large, gutted labor laws, and, the heights of exploitation* History rhymes homie.
Workers have it much better these days than they did then. Most businesses do concern themselves with not killing their employees by negligence. On pretty much every other front though... yeah, the business landscape is a little one sided these days...
I think a good follow up to this would be how the players from this episode also met secretly to form the framework of the modern US banking system with the Federal Reserve which meant that they would ensure for the next 100 years that the banks, investors, and super wealthy still control, rather directly or indirectly, the direct state of the US and World economy through inflation and bank loans.
It's worth noting that there's a miniseries on the history channel talking about this stuff. The Men Who Built America is a 6 part series showing off the typical stuff: dramatic reenactments, portraits, references, ect. Jumps around from all of the people mentioned in this vid to others such as Edison and Ford. It's been out for several years at this point, and personally I love it. Would recommend
We got to watch it during my Junior year of high school. Whenever I asked people the same grade as me if they watched it to, I'd always name it "The Men Who Destroyed America". I just found a minor title change that funny.
It wasn't even a question, it's so stupid to think that individual transport in huge machines that have 1 engine for 1-4 people could ever replace trains We need to take back our streets in the cities too, and only let service veichles use our roads to counter A the issue that cars are the highest producer of microplast in the world and it's not even close B the noise pollution creates mental issues for basically everyone except the person who drives around in the car C 90% of public spaces are only accessable if you own a veichle, shits weird and clearly we can make cities that don't need cars I mean after all cities are older than cars, we can use trams trains and literally anything else, it atomizes the population in cities to not have streets be walkable and the more walkable they are the less they will atomize people, cause you won't have a conversation with someone through your cars ever, but you might have a conversation with someone in the street or public transportation, meet an old friend or just talk with kind strangers
@@danitron4096 climate change its literally caused by private cooperation wanting more profit so they destroy the environment its all for profits and in most places in the world people are below the poverty line
@@danitron4096 no.... Most people are actually not fine. Most people actually live check to check in America. Globally people live on dollars a day working for capitalist.
One major factor of that period that was scary for the average work was the Pinkerton Detective agencies who where a private police and para military force bigger then the actual U.S. army at the time that could be bought by those Titans of industry to do their dirty work
The average US citizen work week in 1830 was ~68 hours. According to Gallup in 2015 the average US citizen work week is 34 hours, wheras the average work week for full-time employees is 47 hours. Breaking down the full-time worker number further, 42% work 40 hour work weeks, 21% work 50-59 hours, and 18% work 60+ hours. In the early 1800s 68 hour work weeks were both normal and mandatory for the average US citizen; nowadays the number of people working 60 hours, let alone 68+ hours, are part of a vast minority, and not all within this group _have_ to work these many hours purely for the sake of survival. According to the National Bureau of Economic Research, "[b]y 2002, the best-paid 20 percent were twice as likely to work [50 or more] hours as the bottom 20 percent. In other words, the prosperous are more likely to be at work more than those earning little." So to sum up, yes, things are most certainly better than they used to be.
@@jackwiessel2029 which hours do you mean by "hours close to those in the 1880s"? The average work week in the US in the 1880s was about 60 hours, so are you comparing the 1880s hours to 1830s hours, or modern hours, or some other hours?
I don't like treating anyone poorly. But WHO really has proven they only a boon to the workforce? Who has carefully measured the productivity taken from the company? What that would have done for the company. What that would have done for the employees? What the newer products created would have done for the marketplace? Measured the value passed down to the populace. Please by all means, show me a report that does not fall into historicism.
You really don't provide any basis for your original claim in your first comment - I'd imagine that such a thesis is very difficult to prove with research. I'd be interested to hear where you got that claim from. As with many things in real life, unions have both upsides and downsides - unions increase unemployment in low-skilled positions, reduce overall GDP, but help to compress wages (which helps deal with inequality), and provide more job security (therefore contributing to overall economic stability if a significant fraction of the workforce is unionized). This is leaving aside the many worker benefits that unions have helped agitate for over the years. Here's a paper that goes through the positive claims: economics.mit.edu/files/6950 I'm sure you can find many studies on the negative claims - it's a popular research topic as it pays very well as an academic to illustrate the downsides of unions, for reasons I'm sure you can guess. :)
Bill Heughan How would you like a boss that instead of grading you on your performance at your job graded you on how good you made the BBQ at last weekends cookout? A boss that tells you he doesn't like the shade of your siding, and coincidentally they just kind of forgot you when it came to handing out raises? Or maybe a boss that needs you to find someone to babysit their kids and if you refuse, coincidentally of course, your union dues just went up by 20%? That's what you get with a union. Instead of having one tyrant controlling and judging you for 8 hours a day at work, you've got a handful of tyrants controlling and judging you for the rest of the 16 hours every day and even longer on weekends. Hope you like drinking, cause if you're not down at the bar rubbing elbows with the union heads at least twice a week, they're not going to remember your name when it comes negotiation time. Enjoy your life as one big popularity contest.
@@billheughan637 1. Inequality isn't a bad thing. 2. Detroit, you know, formally one of the richest places in America that unions destroyed the fabric of.
Major thing not mentioned here: Vanderbilt got his fleet of ships and his control over rail lines because of government regulations. His ferry business grew because the local government said that only he could do that route, and that route was a major necessity for growing businesses in Manhattan. Later, when he started growing his railroad business, the local government only allowed his lines to go in and out of the city, so he had the power to just stop the trains and do damage to the economy. With a fully open market, competition would have prevented both from happening. Competition would have both decreased prices and increased capacity. It is ENTIRELY government regulations that caused this to happen. If the government didn't have the power to say "Only so and so can do that", then none of this would have happened. This just what I've noticed in the first three minutes of the video. I'll post more as I watch it. Note: the above strategy is EXACTLY the strategy used by Comcast and Time Warner Cable right now for internet providers in this country. If the Net Neutrality movement gets their way, this movement by Comcast and/or Time Warner (whichever is more politically connected at the time) could go entirely national, if not international. Be aware.
Some degree of socialist policy is necessary for a society to function. It's just not profitable to maintain roads, upgrade infrastructure, educate the masses, or employ an emergency response system, and so these and many other essential but unprofitable services would go either unfulfilled or would be maintained exclusively by those who see a new and interesting way to exploit those systems for their own benefit and to the detriment of everyone else. A society with no taxes is also society with effectively no means to enforce law, which means crime would go out of control in a heart beat and the only police force that would exist would be privatized mercenaries working for whoever has more money. A pure capitalist society is just as devastatingly horrible as a pure socialist, or pure communist society. The only difference is that you put absolute and easily abusable power into the hands of a different group of entirely corruptible people. Ideally, we need to have a balance of these systems which has the power and funding to maintain critical needs of the country, and to enforce it's laws, while also having checks in place to prevent abuse of that power.
Safety for workers still isnt a concern. Most factories/warehouses I've worked for just pay off the osha fines instead of actually fixing the safety problems
@@duruarute5445 just look at the OSHA report of Tesla factories from 2018 That's one of the more popular and many examples of unsafe workspaces owned by big corporations. I mean I literally worked in a large corporation (that I will not name because the contract mentioned legal liabilities if I slander their name and even if its bullshit I'd rather not risk it) owned warehouse in the UK and the safety inspector did jack shit, as if HSE didn't exist. One big safety issue I remember was that the LLOP charging bays had multiple chargers with EXPOSED WIRES, they literally fixed it 2 weeks later by sticking it over with sticker rolls we use to print labels on. That was one of about 20 safety issues, some literally fatal, like a broken 1 ton cooking oil pallet on the 6th rack falling onto the gangway. There is literally a CCTV video of it that hit the local newspaper because it almost killed a picker. TLDR, The source is any workspace owned by a big corporation, look into them and there is a 70% chance there will be at least 3 major safety violations.
Interesting video. However, I do feel like you've missed two other business titans from the later era of the Gilded Age: Gardiner Hubbard and Theodore Newton Vail, who lead the Bell Telephone Company to become an absolute monopoly using similar tactics to Carnegie and Rockefeller: Buying up smaller companies and strangling out the remaining independents by not allowing them to connect with Bell's long distance network. In fact, the latter believed that Bell should be the _only_ telephone company with his statement "one policy, one system, and universal service". It gotten so bad that the successor company to Bell Telephone, the American Telephone and Telegraph Company, needed to settle with the government before a lawsuit came after them with the Kingsbury Commitment, promising to not buy any more independents and allowing them to connect with the long distance network. And while that delayed their ultimate fate, they were indeed broken up like Standard Oil in 1984. It's a pretty interesting story and another great example of this turbulent era before WWI.
Bob Johnson, i believe he was referring to how factories are shutting down in the west, and America mostly produces food and other agricultural products nowadays.
The next time someone complains about teddy being on Rushmore show them this. You could also include the fact he got shot in the middle of a speech and still finished it.
@Figgy G I agree that they are fucking retarded but they can be reasonable when it comes to very specific issues, most AnCaps want to get rid of the FDA, which is fucking insane. However the idea of deregulation is not a bad one at all
its not so much that PraggerU is wrong or right but that they bring up points that others ignore. For instance the Railroad crash mentioned in this video was partly caused by to much government investment in railroads- The Federal Government was giving away massive advantages to "Pacific Railroads" even though the undeveloped country they went through often had little economic value and were extremely cost intensive to maintain. Likewise small towns would buy bonds to encourage railroad development even if the region they lived in could not support one. Thing was in those days the Railroad just like today is expensive to maintain and cannot make a profit if the region its supporting cannot support it in turn. also to many railroads resulted in over competition that resulted in them driving each other out of business.
I really can't understand how all those captains of industry did not get assassinated left and right. Monarchs in Europe constantly had to look out for themselves, but somehow those capitalists didn't fear for their lives all day...
I love capitalism, but just like any government, it can become too big and powerful and lose commonality with the people. While some regulation is necessary, too much is also detrimental to the economy. It's about finding balance, like all things in life.
The only thing is what do you think the current "balance" is. Do you think the government is currently too big or is the corporation that is currently too big? If you say both or the government, then read below: Government's current size is made up of 3 major spending categories. Defense, Medicare, and Social Security. Unless you are willing to severely cut at least 1 or moderately cut 2-3 of these, there is no big government from where we currently stand. Discretionary spending and the rest are small enough to be irrelevant. Not to mention majority of the bloat from military and medicare spending are caused by market forces. So while government can become too big, we are nowhere near the breaking point. What we do have is artificial bloat of the government caused by a market that is getting way too big and powerful. Politicians that constantly talking about big government don't want to cut anything that makes corporations money, what they want to cut is anything that doesn't benefit corporations. When we talk about balance, it must include further elaboration, otherwise it can be seen as a cop-out. Like if I say, my current diet is 80% meat 5% vegetables and 15% junkfood, so I need more balance in my diet thus now I change my diet to 70% meat 2% vegetables and 28% junkfood. Balance is a word that is very subjective and prone to political and personal bias.
I think currently there is way to much regulation that gets in the way of innovation and in turn deters new competitors from entering into specific markets (automotive and renewable energy start ups are great examples of this). I especially think that the federal government is way too large and powerful, the economy should have little to do with politics because of how incredibly stifling it is.
Everything in moderation. A completely free market causes businesses to rise and control the country. But a fully socialized system causes the government to rise up and control the country. Market economies are good, but have to be kept in check, a struggle that will likely persist until the end of time.
@@DunmeriDrain Much obliged, friend. I've found a lot of people today unknowingly agree with moderate Libertarianism but are so enamoured with lefitst media and ideals that they're constantly supporting Socialism, a lost cause in the world that causes nothing but famine and poverty in the end.
I'd be wary of accepting an eternally shifting scale of oppression. It reminds me of court culture in early Chinese dynasties, or how the serfs generally saw feudalism for centuries. They believed that their way of living would persist until the end of time and that they would always live in a world where power shifts from kings to bishops and back again. It was a worldview the nobles were happy to perpetuate for as long as they possibly could. I'm what you might call a less-than-insane anarchist. I am actually in favor of totally free markets, but I don't think they're without their dangers. I just think they're easier to address and live with than the dangers of the state. I also think that things like Generally Accepting Accounting Principles, Human Capital Strategic Planning, and other aspects of state-divorced business administration has changed in ways that dramatically favor employees and consumers, advancing far beyond things like minimum wages and benefits packages than what the state mandates at any given time these days. Now that's not true in the case of offshored cheap labor, but we're fast approaching the age where people will be suffering because cheap human labor has been replaced by cheaper and more effective machine labor. Education, compensation, benefits, training, and development of employees is now very important to employers, regardless of whom they are hiring at any skill level, and it's not because it's against the law to give people dead-end jobs or anything like that (after all, some people do consider unchanging job security to be comforting). It's because capitalism has evolved and improved since the gilded age. Ancaps aren't insane for wanting to give it another go when they see how much business has matured and how promising mutual aid societies were, but~ even I agree the time isn't quite right yet. Some states would literally crush ancap enclaves as if they were insurrections in order to keep their elite in power. Most governments are entirely unwilling to allow citizens to opt out of taxation and state benefits in any way, not even partially. Ideally to an Ancap, governments would voluntarily stop spending so much on services that their citizens don't want, allowing their services to become more voluntaryist and competed with. Still, a struggle that will persist until the end of time? Nothing persists until the end of time.
Boom baby.
*Insert original comment here* I can't think of anything witty or interesting to put here
REEEE NOTICE ME
Senpai Cody
KnowledgeHub
Boom bada boom baby
Hi Cody and Tyler
"The gentle laborer shall no longer suffer under the greed of Mr. Krabs" -Squidward, communist revolutionary, 1917
MidN Music I like this
colorized
Right from the greed of a capitalist who doesn't care for health.
To the greed of a communist who holds your family hostage and either kills you for treachery and your family or imprison you and your family for terrorist actions against the communism by not meeting inhuman insane standards and goals
magnusm4 OMG IKR, my dad for some reason supports communism, and says capitalism leads to state collapse lmao
When conservatives get so triggered they start arguing with Sponebob quotes. Then again these people also supported bombing the fictional country from Aladdin just because it had a vaguely Arabic-sounding name, so maybe they're not too bright.
The only difference between the Robber Barons of the past and the Robber Barons of today is that the Robber Barons of the past were at least honest about their unethical business practices.
And they didn't try to hide their blatant bigotry behind social justice.
Sounds normal
The robber barons of today are Bill Gates(Microsoft), Jeff Bezos(Amazon), Tim Cook(Apple), Mark Zuckerberg(Facebook), Sundar Pichai(Google), and Elon Musk(Tesla).
@@Khajiidaro wtf does that have anything to do with this? The hell you talking about?
And cared about the quality of their products
Does video on the evils of communism : labeled capitalist propaganda
Does a video on the evils of capitalism : labeled communist propaganda
You know you done good when both sides hate you
Go back to your shit movie.
the ole catch 22
Because most people learned their political science from 10 min video on UA-cam. They are too lazy to read the classics, just join a "side" that they think is cool like the sheep people they are. Also don't forget all those conspiracy theorists that think they hold the key to understanding the universe.
smh at people that still think communism or laissez faire capitalism is still relevant in today's world. Why do we even still have these debates?
"Then militias are brought out to ease tensions" is about as hilariously inappropriate as "then clowns and strippers are brought out to make the funeral more dignified and solemn".
Shoulda just said Sending in the clowns but it might’ve gone over some peoples head. And yet the song Send in the clowns is dignified and solemn lol.
This is a surprisingly accurate and yet awkward simile
the pinkerton's were turned into the government and FBI so there still around in 2022 ( probably continued control by some 🧢's but that's speculation and not facts that i can back up )
yep there back in 2022 🧢 capitalism untrained is great isn't as history repeats itself again 😑🤑 and next is NGO's run by these people so they control the narrative instead of worker's compensation and rights and government-representing
@FWD: 7 been done before as well as the FBI parts of the reason i still wondering and rumours about the FBI being used as a corporate/elite-class tool to some extent inappropriately and not a justice department/tool only
I could see paying for clowns and strippers for a funeral. Give something to cheer people up, especially if its at the behest of the deceased.
Standard Oil: *has 90% market share*
Google: *has 87% market share*
Yeeeaaah, honestly not much has changed
This is a poor argument you have the choice, but nobody uses bing because it's terrrible
@@leonsjoseph7107 So we don't really have a choice then do we?
Leons Joseph people had the choice back then too, they just used the monopoly because they could have prices unbelievably low
@@comrat9805 ,
It is only while the monopoly is being constructed that the prices are low.
Soon as the monopoly is in place, those prices will rise to recoup the losses that went in creating the monopoly....
@@kagsly6621 ,
Seems the quality of choices do not seem to matter to some.
I concur though: A bad choice is no choice at all!
How people dealt with workers going on strike in the 19th century:
'Sir! The workers are rioting again'
'Bloody hell... call in the mercenaries.'
The US military actually bombed miners who were striking, they brought in bombers and fecking bombed them!
en.wikipedia.org/wiki/West_Virginia_coal_wars
They still did that in the 1920-30s when Henry Ford basically hired the mob to fuck up his workers protesting his horrific working conditions
Is anyone entitled to a job? Could they just no go work elsewhere?
Do you understand where benefits came from? It was the LACK of finding working.. No longer was "money" something people cared about.. but days off.. healthcare.. retirement.. that was something they could offer AND keep wages down. It would of be GREAT if we didn't allow bankruptcy from businesses.
Now you have to government trying to force benefits and high wages.. In what world does that seem right?
If you don't feel like working for what is offered.. Don't take the job.. if others DO take that job, don't cry because you wanted it.. just at a higher rate.
EDIT TO ADD.. THIS is why bringing in immigrants into the US is bad. No longer are citizens able to "not work" at low paying jobs.. because immigrants come in and do that job for less because it was more than they could of made back in their own country. It's so epic to see the left's position in all of this because they are truly harming the causes they speak for by caring about EVERYTHING.. this is TIED to each other.. You can't have both unless you truly want socialism.. but no SOCIALIST nation would EVER let in immigrants.. because they would could a negative effect on the market.. WONDER WHY OUR MIDDLE CLASS IS SHRINKING!?
@@ericblack2252 You do know there are laws regulating that? Immigrant can't work for less if there's a treshhold. Your country woudn't exist without immigrants be grateful we still want to come.
+VHSAlien You idiot. You don't have to work for him. Sounds like you would have rather just whined about it while your children starved, instead of actually working.
And all just cause one dude had a boat
lol
@@No-hf5xb not free at all, look at the current captains of industry. Look no further than Disney
And it ended with another dude losing a big ass boat.
@@fuzzyhair321
Doesn't "free" mean "without govt interference" in this context?
Disney is a product of beating competition given no big restrictions.
@@cmarley314 oh yeah support monopolies. We all played the game
>When your neighbour cuts his grass and a blade falls on your lawn, thus violating the NAP, so you get in your A-10 Warthog and strafe his house, killing his entire family.
Naorpoled STONKS
No, that is how GOVERNMENT police & military operate.
Isn't this just like the US "invading" Northern Syria & Iraq, in order to "avenge" the Kurds (a group most Americans CANNOT even identify, much less identify with)?
@@joelholmes1260
No, Clinton wasn't elected... Go back and listen to Putin's words right before the 2016 US presidential election (or, you might be exactly correct).
#relatable
And now they do the same things but make sure the labor is in other poor countries so we don’t have to look at it.
Lucas Well if the Europeans hadn't interfered in Africa and Asia and set up shitty governments then they wouldn't have that problem.
👏
governement that were controls by corporation and monopoly
And while it's there it's especially tolerable for us as consumers, as long as we get our decently priced consumer goods at the cost of horrible mining practices in Africa and horrible production lines in China.
EDIT: "The Ones Who Walk Away From Omelas" is fantastic reading relating to this subject; Prosperity at the expense of suffering of a few.
Therefore we implement tariffs securing domestic industry and help workers by actually implementing government restrictions.
Fun fact: the Pinkertons still exist and they didn't like how they were portrayed in RDR2.
What are they gonna do, send in mercenaries?
They would like the way rockstar make work the shit out of those nerds to make the game.
They also sued Weezer for using the name Pinkerton, lol
Wow, it's as if it's a game! Next you're going tell me that movies are not completely accurate too!
@@nicanornunez9787 lmao
“Power concentrated is power abused” -George Washington
"I find your lack in faith disturbing" - Darth Vader
George Washington had concentrated power being the president
Sergio Winter the perfect man to explain it then isn’t it?
@@sergiowinter5383
And chose to give it up by not running for president again, which he would have won easily!
Some are of the opinion that he could have become a king if he would have chosen so.
@@TBFSJjunior He was a mix of Roosevelt chadism with a greek philosopher mentality then
“The Senate will decide your fate” -Sherman Anti-Trust Law
“I am the Senate” -The Capitalist
*Croney Capitalist
"i bought the senate"
Not. Yet.
in other words the people own the means of production and the government in a capitalist economy
It's treason then.
Capitalism has leveled up.
Capitalism has learned *Monopoly*.
Capitalism is Evolving.
Congratulations. Capitalism has become Corporatism.
Fuck go back
@@saeedbaig4249 no keep going
It's still capitalism
You realise corporatism is organising the entire economy into industrial bodies right?
Is okay to seize all means of production if a monopoly is doing it.
That moment when you believe corporations have too much power, so you give them more power because they promised they wouldn't abuse it this time.
Well actually it's usually giving companies responsibility.
I mean they did pinky swear this time, you can't argue with that
*PragerU would like to know your location.*
REEEEEE
Leftists
moose 1477
Eh, these UA-camrs dislike Google as much as the next guy
The only reason capitalism became oppressive was because there were no anti-trust laws. As long as there is competition everything else works itself out.
Fuck you!
@@Dennis-nc3vw that is at the very least a vast oversimplification. There is no nation with a capitalist economy that thinks allowing for real competition will just sort out fire protection or food safety for example. For some things a profit motive and genuine competition is best for the consumer but some things are incompatible with a profit motive. Private prisons come to mind or the misuse of civilians in the Iraq War.
This isnt an ideological debate I'm trying to have. It's very practical, in some cases there are clear obvious conflicts of interest.
I mean the East India company had a private army twice the size of the british army at the start of the 19th century and controlled around 70% of the world's trade as well as essentially ruling over the whole of India
THANK YOU! Every libertarian says if the government didn't exist, nothing like this would happen and totally forgets that no government just means private armies.
@The Media Norman you got sources for that, buddy?
It did not help that their main competition was the VOC, which had a similar business model.
I'd rather live under the East India Trading Company than most governments today.
@@georgeharrison5753 Most libertarians aren't anarchists lol
1:08 "But let's not get ahead of ourselves"
*is literally a head of himself*
Underrated
Ha ha ha h-no
Dejan Dejan Underrated, just like you
lol nice one
UH OH BOYS THIS COMMENT SECTION IS GOING TO BE GOOD
Pleb Grab your popcorn and enjoy the show
Bring your hazmat suits to shield against the worst toxic materials.
And when i say hazmat suits, i mean your safe space
It is getting sloppy up in these comments
@@bkr1895 Freddy, my boy, didnt i tell you to stay away from those Übermensch things?
Here comes the communist fans
You narrated literally the entire curriculum of some college history classes,thank you so much
That is sad
@@fatpotatoe6039 US Colleges are garbage, the entire value of an education is the piece of paper you get at the end.
This is so sad. Alexa, play Despacito
@@ESDecaf0 in this case it's not just the US. Schools around the world tend to be rather slow. Not every nation can be like Finland or Australia.
Yeah but he was mostly glossing over things as this is a summary. This is for fun but never use this for official research.
The ancaps have prepared their recreational nukes
i was thinking the exact same
When someone trespasses your property so you hit them with a recreational McNuke and enslave their children
@@hyper4306 Not an Ancap but that's a huge strawman.
@@commendedzuez0944 the point of the comment was to be a strawman
AlletoBall Tactical mcnuke
Fun fact, the anarchist who shot Frick wasn't just some anarchist. He was teenaged Alexander Berkman, who became one of the leading figures of Anarcho-Communsim later in his life. He wrote the 'ABC of Anarchism'
Communists are authoritarian. That's not anarchy.
Read some books sometime my dude. Anarchism is the original socialism. Look up Kropotkin, Proudhon, or Bookchin. Voluntary communalism.
@@rachelslur8729 Stalinist communism it's authoritarian, but it exists also the ideology of anarcho-communisms. Marx himself stated that the final form of communism it's the dissolution of the state. The political spectrum it's way larger than you think
@@davidespanti If communism/socialism/ancom in best, then failining governments would be adopting parts of it out of necessity. What we observe instead is Venezuela, USSR, North Korea, Cuba adopt parts capitalism out of necessity.
@@rachelslur8729 ok, so, two major things:
1. I never said communism is the best ideology
2. You know that politics and economic theories are a broad spectrum on things that collide into each other? It's ALWAYS a mixture of things. When it isn't, it collapses (aka Soviet Union, for example). In the majority of civilised world we have something like free health care, but even in the USA there are unions, a progressive taxation and the general concept of "paying taxes to receive services". This is thanks to a kind of politic that it's not socialism, but it's influenced by it. In fact, in the majority of civilised world there are social democratic parties or social liberist parties that works with a mixture of capitalistic economy and socialism (and they do a great job, just look at Sweden for example). There are a lot more economic theories too, like Keynesianism or Monetarism. It's stupid to classify all range of politics just to capitalism and socialism. Try searching on Google "Political compass" and you'll see
"But it's fun to look back now, isn't it?"
No, actually it's quite horrifying.
Morgan423Z And how eerily similar it is to now
I wonder if it can be fixed. Or is it too far gone. Do we need a reset? How do we prevent version 2 from having the same problems?
Yeah, now it’s big tech companies.
Morgan423Z I say it’s beautiful
Let's just get a bunch of roosevelts in power
"creating the crisis that ruins the competition just to buy the competition"...soooo amazon?
Possibly yes..
@@SlapstickGenius23 no, 100% yes lol. Amazon does a lot of evil shit
Complains about communism. Complains about capitalism.
Perfectly balanced. As all things should be.
nah feudalism is pretty lit
@@raptorfromthe6ix833
We figured this out hundreds of years ago. No.
@@TheTheThe_ nah africa and other feudal countries were hyped af before european came
RaptorFromThe6IX yes yes africa was paradise 💯💯
Super Smash Revan
So a social democrat?
Teddy Roosevelt looming over the monopolies: Bully
@Vernon Roche Now where do I put the stuffed head of a winsdor.
He bullied bullies of the workers.
@@victorviereck4117 im into fitness digging ditches through an isthmus.
@@klevishida740 Rough riding down through cuba like
WHATS UP BITCHES!!!
Dapper Enderman why does every comment rhyme, you guys must be very good musiciians
-oil-
*_lamp juice_*
Finally, first comment ive found here that I can agree with.
*darkn't maker fuel
Lämp?
Car Drink
*moth salivates*
Every industry needs a union.
No, only certain industries. In today’s world HR is adopting a principal begotten by stakeholders theory but private enterprise is a different story
It's a shame when some Unions become an industry though.
In my state the beer unions were disbanded because they attacked and hurt the companies along with the economy
lol every union needs a union
The video game industry is the easiest for unionizations because they want quality games
Those who don't learn from History are doomed to... ugh, too late :(
Those who DO learn from history are doomed to suffer from the actions of those who don't learn from history.
@Martin Casinillo ecp
Wdym? Knowledgehub ended video saying things are better now, we have learned from history and you gotta be pretty dumb to not realize that, no offense.
It's like saying colonialism is coming back... But it isn't, it'll never, cause we have learned.
@@GnosticLucifer 🤨big tech, banking, universities, and big pharma all have massive influence and power over government, which they use to make policies that benefit them and screw us over. Things are better now, but if action isn't taken, they will get much much worse
@@benayasdebela1164 True, but you're looking at it the wrong way. They have influence and power over gov because gov has influence and power over people, gov can indirectly decide what product you use specially above mentioned big tech, banking, universities and pharma. THEY SHOULDN'T HAVE THAT. The idea that capitalism leads to monopoly is a myth, literally every monopoly ever is one way or another supported by the gov.
Capitalism isn't the problem, the influence gov which can easily be corrupted by money due to their dependence on money to win elections and govern is.
We must take action to lower gov influence on these products and services. We should specially eradicate IP cause the creators of idea barely get any benefit, most of them are long dead while big companies are profiting off their ideas cause gov won't let anyone else use those ideas.
No mention of how a British company was powerful enough to colonize the entire Indian subcontinent?
Yeah, it was so powerful that it turned into a country
The Joker British Raj
Back when Britain was cool! you know back before they're busy playing second banana to, Canada and fourth banana to the United states! poor pathetic Britain, your little more than a lapdog at this point! However the United States neglecting you has led to you catching a bad case of the migrants, cough I mean fleas
Yeah it's a shame how its not mentioned very often. Hopefully he'll make a full video on the British East India Company.
Just like the VOC in the Dutch east Indies.
Me and my buddy Dutch killed so many Pinkertons, so so many Pinkertons.
Which film?
@@shandhi5391
Red Dead Redemption 2.
@@shandhi5391 Game btw
It’s more of an Oligarchy now, where companies get as big as possible for profit and investors but just barely out of reach from being labeled a monopoly.
But hey! Capitalism has given birth to the most vital thing without which humanity would be dead right now:
*ARTILLERY ONLY*
*ARTILLERY ONLY TIMELAPSE BEGINS*
The only thing I hear is artillery blazing all over the iron curtain
YES
YES 👏👏👏👏👏👏👏👏👏👏👏👏
In age of empires, Artilleries are the best.
What if Capitalism used Artillery Only?
I believe we call that "diplomacy".
What is this, a crossover episode?
Genius! But what if Capitalism was ASMR?
The real questions are being asked!
Stop that’s a dead meme
Moral of the story, too much power in too few hands reduces profits.
The best way to make a profit? Competition. Brand loyalty will help, but competition can really drive up profits.
@@oneofmanyparadoxfans5447 That isn't true, cooperation is more profitable than competition. But only if cooperation is by all parties involved. when a subset of the parties cooperate to compete against the rest of the group, it drives profits down. When I say profits I am talking the increase in wealth (real profits), not the rate of transfer of cash from one party to another (false profits)..
Revenue or utility makes more sense than profits here
TheNoodlyAppendage I mean no one was complaining about Microsoft’s prices before they were split up
@@TheNoodlyAppendageusually competition is better for the society and cooperation either can't be a long term equilibrium or will be in the form of a cartel or something so however profitable for the cooperating agents it usually is not profitable for the society as a whole
Just a reminder guys, companies pay less in taxes now than when they did back then. Let that sink in for a moment. Right now, it's worse
What utter bullshit give me evidence.
@@Nico-ig1mr That is an insufficient answer. Everyone knows they avoid taxes. The question is do these companies pay lower total tax sums than in the 19th century. Sounds unlikely. Let me be kind to your position; can you give me evidence that companies (which is so broad a term it doesn't just include the Fortune 500 master-evaders, but any limited liability business) pay an effective tax rate that is lower than they did in the 1870s to 1890s? Sounds unlikely. Show me the evidence, if there is any. If you can't, you have to admit that your statement is false and ought to delete it if you respect truth. Simple. No argument required - just show me the facts or retract your statement.
@@fatpotatoe6039 What, is Nico a fuckin' mind reader? YOU asked a vague question and, I think, received a satisfactory answer. Talk about disingenuous -- that's your follow-up post here. If you had asked the "actual question" that you meant in the first place, maybe your gripe would be legitimate.
Amazon paid no federal taxes on a billion dollars of profits last year, according to the article. How about this itep.org/4-3-billion-in-rebates-zero-tax-bill-for-60-profitable-corps-directly-related-to-loopholes/ then? Not only did sixty of the Fortune 500 companies pay zero taxes, they even got tax money *back again*. How about YOU showing that companies in the 19th century were able to pull that off. Sounds unlikely.
And this past month, it's even worse with the most recent corporate giveaway bill (the Corona Virus Heavenly Loving Gifting To Humanity Bill or whatever nonsense they call this shite): around 800 pages, hidden within are RETROACTIVE TAX CUTS going back five years.
That's right. A good portion of the working class gets a measly $1,200 one time payment, but the banks and corporations are forgiven taxes paid years ago, paltry as those taxes are in the first place.
Name me ONE thing even close to what the corporations in the 19th century could have gotten or had gotten that reaches that level of evilness. Sounds unlikely.
@@thenorseman8964 r/murderedbywords
@@fatpotatoe6039 "As of 2019, the Fortune 500 companies represent approximately two-thirds of the United States's Gross Domestic Product with approximately $13.7 trillion in revenue, $1.1 trillion in profits, and $22.6 trillion in total market value. These numbers also account for approximately 17% of the gross world product" en.m.wikipedia.org/wiki/Fortune_500#Influence. Even if the tax rate was lower back then for smaller companies, it's lower now with the major companies who pay little to nothing in taxes, using tax havens, lobbying ect. The majority of the GDP is represented by the major companies. After 5 seconds of googling I found this: In 2018, 91 of the top fortune 500 companies paid $0 in taxes. Many others paid a small amount. Congress is corrupt and bought out, and dear leader isint helping to drain the swamp like he promised. In fact he filled it, and we can see it paying off in the stimulus bill. Like the guy above me said, if you wanted to de validate my argument, I guess you could compare the tax rates of all the companies now to before. However this is kind of like the oh, your a _, name every _ (hopefully you have seen it, otherwise Google it) meme. It would be a huge waste of time to do it, but I could. However I'm not the type to put that much effort into arguing over the internet, as either A, the person is usually just looking to fight and won't change their beliefs, or B, they will probably forget about it in a day or two, and the subject was probably pretty trivial anyways.
Ruining businesses just to buy them out, reminded me of a story I was told about a rich family or brothers that owned a large bus company and when they started up in a new place, to get rid of the local comparation they would sell their tickets for cheaper price than the smaller companies just too ruin them. Then once they were gone, they would increase the price to make a profit as they had another money to lose some profit so long as the comparation when bankrupt.
That's not just a story. That's a real thing that has happened and continues to happen.
Yeah how do you think Walmart ended up the megastore in every single town in the country? They have more small business blood on their hands than anyone ever.
Uber undercuts cab companies. In Miami Uber pool was cheaper than taking the bus. Recently they began rasing prices.
it is not that good of a business model, they don't profit as much because they have to cover for the losses during the time they were running on low prices. You see, most monopolies and oligopolies in history were created by government intervention, for example the steel industry, which was helped by import tariffs.
It's called a 'runway', queijo. And it's a pretty low-risk method of becoming a successful brood parasite.
That part about long shifts, little pay, and only 1 day a week off... That's my job
Mine as well. New America. Great country. God bless the usa.
As a general rule, if you work more than 40 hours a week and your job pays less than $20 an hour you can pretend to work harder than you do. If you finish things too quickly the boss man just gives an unrealistic work load anyway with no raise, so working hard is pointless.
Your looking real sussy over there
@@dustinalbers8160 Such a great country that people across the world would literally kill you to get your passport. Grow up. Improve things, but don't be a tool.
@@shinryusaiha Which is why the US suffers by losing citizens to other developed nations, right?
Oh wait, that's not the case. In fact it's the opposite. This in conjunction with a relative HDI kinda points to you being too brainwashed to take seriously. I ain't even saying the US is the best by any margin; just that it's pretty decent.
Well, thank god we got that all sorted out! [Insert awkward silence here]
Victor Hyde Glances at Latin America and Africa on fire*
Yup... all sorted out
Victor Hyde we did.... except America whom now has Amazon and its issues
@@thechicken5939 Latin America and Africa actually experienced the highest improvements in all of their histories, with absolute poverty, conflict, and violence decreasing drastically. If its on fire now, then it was a a giant dead crater littered with the remains of babies before.
What bugs me is how even market competition is bastardized and exploited. In fair competition, multiple entities compete over the same customers. In our current system, customers are divided up between companies. We see it in the gaming, and streaming industry (not to mention ISPs) with exclusives, companies are buying exclusive rights so they basically have a mini-monopoly on it, forcing customers to pay for several steaming services or gaming consoles in order to get a wider array of content.
I think these companies should be competing based on innovation of the service. If Netflix, Hulu, and Amazon all have the same content, then we'll end up choosing based on the work the actual company puts into their website.
All of that thanks to "Intelectual property"
@@20thcentury_toy which was made worse by Disney.
The eradication of intelectual property laws is the first step to a better world
The saddest part is that people believe the abuses of capitalism have ended.
Chase Cook Barely. Tell me what operating system your phone and computer have. It’s either IOS, Android for smartphone and macOS, windows or Linux for computer. Basically an oligopoly
Chase Cook all that exploitation and abuse has simply moved from where it previously existed. What occurred in the gilded age now exists in other nations that are ruthlessly exploited.
Brennus of Gaul thinking capitalism is bad doesn’t mean we think communism is good.
@@chasecook6994 That's not true, China's society follows the central power's "China model" which relies heavily on allowing private entities to essentially lease government assets for temporary usage. There's no real private property in china and this makes the society fundamentally communist since the Chinese govt can cease assets from individuals and groups without any real judicial process. This is part of the reason why china steals patents and gives them to their favored dummy corporations that effectively function as branches of the central government.
@@chasecook6994 Not true. Many workers are still paid very little for long hours work, whilst the Boss makes the most profit.
Many workers still feel unfulfilled in their work, knowing how expendable they are.
Due to relatively high unemployment, some forms of labor are cheap, so workers can be done away and replaced easily.
You mentioned the founding of Canadian unions and the labour day but one of the most important dates for the international workers movement you did not mentioned. Early May 1886 killed the police dozens of striking workers in Chicago (Haymarket riots). That's why the labour day is in the most countries on the first of May.
That's not exactly correct. The first of May has been a spring holiday in most of Europe for a very, very, long time. Far before it ever got associated with labour or socialism. The most common tradition for a lot of these places was dancing around a May pole. And that is who associated May 1st with a labour day - Communists and Socialists. It was decided as the 2nd Workers International to co-opt the already existing spring festivals and add on a labor day with the express purpose of making it a Socialist/Communist holiday, not just a worker's holiday.
Tellingly, the places that adopted May Day as a labor holiday (mostly in Europe and South America) are much more friendly to Socialist and Communist parties in general, while in the US, where Labor Day is in August, they aren't.
Gilded age fits perfectly, if you lack at the economy as a whole and the richest 1%, it seems awesome (gold) but it's just a covering over the horrible reality.
Do a video about how Teddy Roosevelt took a bullet to the chest as he was about to give a speech, tells the audience about the wound, shakes it off, and continues to declare his speech for an hour! As he is bleeding!
Triggered people on the left
Triggered people on the right
And here I am, triggered in the middle with you
"Well of course you're just in the middle you're a furry, Ferrys are notoriously moderate!" I'm just being sarcastic there as ex furry, I know that curries are notoriously left-leaning that's why left the fandom there are too many dum-bass liberal snowflakes! That and all the weird disturbing fetish crap gave me nightmares! #BurnYourFurr
When you own the libtards by saying “both sides” and nothing else.
There is no left right or center, We're all just one big triggered whole.
#1 lobster It’s a song he was referencing.
Relevant Relevancy Who’s going to do it? Definitely not you.
It wasn't just america... it was everywhere!
*shows globe with just america*
Lol
"Makes monopolies illegal"
Wait but ive played monopoly
@Stooven McStoovenson get out of jail free card
@Stooven McStoovenson --Bribe the jury--
The last job I worked was 12 hours a day 7 days a week. No days off, no holidays, no sick days, "salaried" that equaled less than minimum wage, so I quit and went to college. We currently live in a new gilded age.
No, sounds like you just agreed to a shit contract.
maxwellw70 no we live in a new guilded age.
2:20
Well that is not strictly true. The technology that developed rail also went into developing steam powered ships. Which were not only several times faster than sail boats but also far more reliable. A sail boat could take between 1,5 to 3 months while a steam ship took just under 21 days no matter what the wind was. For a business predictability is important. Another big thing is that a steam ship requires a smaller crew which makes them cheaper to run. (Of course compared to today's ships the crew was still very large.)
For the US though a big factor was that the Panama canal was not yet build. So with the west rapidly developing and the center of the US largely empty trains were the only way to bring goods from the East and Europe to the West. The building of the Panama canal greatly weakened the influence of the railroad companies.
You deserve a hundred times the number of likes.
To build the panama canal we liberated a bunch Of people from a dictatorship, establishing a “democracy” then used… military force to threaten them into letting the construction began, yellow fever killing thousands of workers and damaging international relations
@@kjl3080 Actually the US put a tremendous amount of effort into fighting yellow fever. It was what killed the French attempt a few decades prior as yellow fewer and other tropical diseases killed workers faster than they could be brought in.
The Panama canal though was largely in the middle of nowhere so the militairy didn't really 'threaten' them into it. Most of the natives and settlers just left the Americans to it.
I don't know of any relationships that were damaged though. Europe was the only area at the time worth caring about and none of them were hurt by the canal. Almost all trade between Europe and America remained the same and Europe's trade with Asia went through Suez like it always did.
The panama canal really only majorly impacted the America's and most of the south-American nations were also happy with it. Even the people of Panama were happy as it was a major boost and made Panama the richest country in central America.
@@MrMarinus18 Okay, I’m sorry for saying durr America bad, but I still think their method of building the canal was questionable at best
sees title
COMRADES THE GENTIL LABORER SHALL NO LONGER SUFFER RISE!
THE WORKERS HAVE NOTHING TO LOSE BUT THEIR CHAINS
How ironic talking about freedom in your ideology
Don't upset the conservatives, you know how sensitive they are.
@@somebodythatyouveusedtokno9604 funny. Because communism never existed.
Bendy Tuber Gamer how ironic not being able to speak English correctly
Bendy Tuber Gamer you really shouldn’t be making that point if you think capitalism = freedom lol.
12:54 Cleveland: "I'm about to do what's called a Pro-Worker move"
You can never have too many railways
It's weird how in the same breath they criticize monopolies on railways as well as people building alternative additional railways. Pick one or the other lol
"including Tom Scott."
But he wasn't wearing a red shirt...
Turtlee Underrated comment, so few people would watch this and get this reference, including me until you said it.
@@evannibbe9375 no
@@evannibbe9375 shut up you arent special
*ARTILLERY ONLY*
Stop it
Stop believing in a death cult.
*artillery monopoly*
What does this mean?
You're on the wrong side of UA-cam. Go back to ISP.
"Existed..." "Fun to look back..." "Something romantic about a time of unchecked capitalism..."
*Looks around at total corporate domination of society at large, gutted labor laws, and, the heights of exploitation*
History rhymes homie.
Workers have it much better these days than they did then. Most businesses do concern themselves with not killing their employees by negligence. On pretty much every other front though... yeah, the business landscape is a little one sided these days...
Except this time, people are against unions. Brainwashing at finest.
@@reaganharder1480 Much better -> because of the past sacrifices that made better laws.
I've always thought that 'Captian of Industrys' and 'Robber Baron' sounded like a crappy super hero and villian respectively.
Industries*
Yes, thank you!
I think a good follow up to this would be how the players from this episode also met secretly to form the framework of the modern US banking system with the Federal Reserve which meant that they would ensure for the next 100 years that the banks, investors, and super wealthy still control, rather directly or indirectly, the direct state of the US and World economy through inflation and bank loans.
The unions should have used Artillery Only
Only comment that matters
This is so sad, can we reunite the Polish-Lithuanian Commonwealth?
Alexa, can you revive Lenin?
Isorrowproduction yes!
ISP should have been a captain of industry
It's worth noting that there's a miniseries on the history channel talking about this stuff. The Men Who Built America is a 6 part series showing off the typical stuff: dramatic reenactments, portraits, references, ect. Jumps around from all of the people mentioned in this vid to others such as Edison and Ford. It's been out for several years at this point, and personally I love it. Would recommend
A compressed version of the history channel's "the men who built America"?
I guess
Which was a compressed version of actual history that actually happened
We got to watch it during my Junior year of high school. Whenever I asked people the same grade as me if they watched it to, I'd always name it "The Men Who Destroyed America". I just found a minor title change that funny.
"We need to eat the rich"
Taft:"Way ahead of you!"
Taft got stuck in the bath't
As we reduce Petrol consumption, I hope the railways begin to reamerge. Europe and the East have proven that rail is superior to the automobile.
It wasn't even a question, it's so stupid to think that individual transport in huge machines that have 1 engine for 1-4 people could ever replace trains
We need to take back our streets in the cities too, and only let service veichles use our roads to counter
A the issue that cars are the highest producer of microplast in the world and it's not even close
B the noise pollution creates mental issues for basically everyone except the person who drives around in the car
C 90% of public spaces are only accessable if you own a veichle, shits weird and clearly we can make cities that don't need cars I mean after all cities are older than cars, we can use trams trains and literally anything else, it atomizes the population in cities to not have streets be walkable and the more walkable they are the less they will atomize people, cause you won't have a conversation with someone through your cars ever, but you might have a conversation with someone in the street or public transportation, meet an old friend or just talk with kind strangers
*Obligatory "more likes than views, youtube is drunk" comment*
I'm so bored of them smh
its still gone too far its reached its limits we need a new system
Absolutely not, most people are fine and corporations are nowhere near as powerful as they were back then
@@danitron4096 climate change its literally caused by private cooperation wanting more profit so they destroy the environment its all for profits and in most places in the world people are below the poverty line
@@danitron4096 no.... Most people are actually not fine. Most people actually live check to check in America. Globally people live on dollars a day working for capitalist.
Imagine all the good Elon Musk could have done with $44 billion instead of buying and then ruining Twitter...
One major factor of that period that was scary for the average work was the Pinkerton Detective agencies who where a private police and para military force bigger then the actual U.S. army at the time that could be bought by those Titans of industry to do their dirty work
DAMN PINKERTONS
WE JUST NEED MORE MONEY
Which film?
Arthros Shandhi Darude Sandstorm
Economic libertarians would like to know your location
inVISIbLE haND OF tHe FREe MarKET
Joe H.S iD RaTHeR haVe A COMPANIES step on me
"Bro its self regulating bro trust me bro."
Unironically yes the government was upholding all of these monopolies not the market
@Liberation why is the lenin pfp defending adam smith lmaooo
This whole video summarized what I learned in the Gilded Age chapter in APUSH last year
Love how America is slowly sliding back to this age again.
most people I know work 12 hour days 6 days a week and there dying mentally from it. So I dunno about this whole better thing. lol.
Are they getting paid the least imaginable and suffering from unsafe work conditions?
@@bigbirb340 that could be a possibility. Which will only make it worse
chrisw443
Lol, only working twelve hours a day.
The average US citizen work week in 1830 was ~68 hours. According to Gallup in 2015 the average US citizen work week is 34 hours, wheras the average work week for full-time employees is 47 hours. Breaking down the full-time worker number further, 42% work 40 hour work weeks, 21% work 50-59 hours, and 18% work 60+ hours. In the early 1800s 68 hour work weeks were both normal and mandatory for the average US citizen; nowadays the number of people working 60 hours, let alone 68+ hours, are part of a vast minority, and not all within this group _have_ to work these many hours purely for the sake of survival. According to the National Bureau of Economic Research, "[b]y 2002, the best-paid 20 percent were twice as likely to work [50 or more] hours as the bottom 20 percent. In other words, the prosperous are more likely to be at work more than those earning little." So to sum up, yes, things are most certainly better than they used to be.
@@jackwiessel2029 which hours do you mean by "hours close to those in the 1880s"? The average work week in the US in the 1880s was about 60 hours, so are you comparing the 1880s hours to 1830s hours, or modern hours, or some other hours?
It'd be nice for you to do an idiot's guide to unions, why they came to be, the changes they instigated, and how disposable workers were before them.
It would be nice to show that most unions act far more ruthless and money hungry than businesses they claim to be protecting from.
I don't like treating anyone poorly. But WHO really has proven they only a boon to the workforce?
Who has carefully measured the productivity taken from the company? What that would have done for the company. What that would have done for the employees? What the newer products created would have done for the marketplace? Measured the value passed down to the populace.
Please by all means, show me a report that does not fall into historicism.
You really don't provide any basis for your original claim in your first comment - I'd imagine that such a thesis is very difficult to prove with research. I'd be interested to hear where you got that claim from.
As with many things in real life, unions have both upsides and downsides - unions increase unemployment in low-skilled positions, reduce overall GDP, but help to compress wages (which helps deal with inequality), and provide more job security (therefore contributing to overall economic stability if a significant fraction of the workforce is unionized). This is leaving aside the many worker benefits that unions have helped agitate for over the years.
Here's a paper that goes through the positive claims: economics.mit.edu/files/6950
I'm sure you can find many studies on the negative claims - it's a popular research topic as it pays very well as an academic to illustrate the downsides of unions, for reasons I'm sure you can guess. :)
Bill Heughan How would you like a boss that instead of grading you on your performance at your job graded you on how good you made the BBQ at last weekends cookout? A boss that tells you he doesn't like the shade of your siding, and coincidentally they just kind of forgot you when it came to handing out raises? Or maybe a boss that needs you to find someone to babysit their kids and if you refuse, coincidentally of course, your union dues just went up by 20%?
That's what you get with a union. Instead of having one tyrant controlling and judging you for 8 hours a day at work, you've got a handful of tyrants controlling and judging you for the rest of the 16 hours every day and even longer on weekends. Hope you like drinking, cause if you're not down at the bar rubbing elbows with the union heads at least twice a week, they're not going to remember your name when it comes negotiation time. Enjoy your life as one big popularity contest.
@@billheughan637 1. Inequality isn't a bad thing. 2. Detroit, you know, formally one of the richest places in America that unions destroyed the fabric of.
Alternate History: What if McKinley is not assassinated?
Why do Ancaps always forget this era?
Because it’s going to be *DIFFERENT* this time
@@nickhueper2906 why does this remind me of communists
Troglodytenfänger
Wow you got the joke congrats
@@nickhueper2906 thanks
@Brennus of Gaul authoritarian rule. Say no to authoritarianism. Especially fascists.
Major thing not mentioned here: Vanderbilt got his fleet of ships and his control over rail lines because of government regulations. His ferry business grew because the local government said that only he could do that route, and that route was a major necessity for growing businesses in Manhattan. Later, when he started growing his railroad business, the local government only allowed his lines to go in and out of the city, so he had the power to just stop the trains and do damage to the economy.
With a fully open market, competition would have prevented both from happening. Competition would have both decreased prices and increased capacity. It is ENTIRELY government regulations that caused this to happen. If the government didn't have the power to say "Only so and so can do that", then none of this would have happened.
This just what I've noticed in the first three minutes of the video. I'll post more as I watch it.
Note: the above strategy is EXACTLY the strategy used by Comcast and Time Warner Cable right now for internet providers in this country. If the Net Neutrality movement gets their way, this movement by Comcast and/or Time Warner (whichever is more politically connected at the time) could go entirely national, if not international. Be aware.
"Here kids, here is a lot of money."
"Where did you get it?"
"From your dead parents."
So basically, we’re in Gilded Age 2.0.
*MILTON FRIEDMAN HAS ENTERED THE CHAT*
Man I really love teddy Rosevelt!
+OZMX the parties never switched
ua-cam.com/video/Pn7QBMOyC_0/v-deo.html&list=PLJFalOOtddmn2I-boUV6kYfr64Hcfomnk
Where is this socialist boogie man you are screeching about my guy ?
OH NO, THE SOCIALISTS ARE COMIN TO TAKE MAH MOUNTAIN DEW AND TOOTHBRUSHES. RON PAUL SAVE US!
...Propagandized idiot.
Some degree of socialist policy is necessary for a society to function. It's just not profitable to maintain roads, upgrade infrastructure, educate the masses, or employ an emergency response system, and so these and many other essential but unprofitable services would go either unfulfilled or would be maintained exclusively by those who see a new and interesting way to exploit those systems for their own benefit and to the detriment of everyone else. A society with no taxes is also society with effectively no means to enforce law, which means crime would go out of control in a heart beat and the only police force that would exist would be privatized mercenaries working for whoever has more money.
A pure capitalist society is just as devastatingly horrible as a pure socialist, or pure communist society. The only difference is that you put absolute and easily abusable power into the hands of a different group of entirely corruptible people. Ideally, we need to have a balance of these systems which has the power and funding to maintain critical needs of the country, and to enforce it's laws, while also having checks in place to prevent abuse of that power.
@@douglasbyrd2944 This.
*Insert libertarian screeching*
I don't like that this video critized extreme capitalism, so I will call it off as libertarian!
It's like libertarians are extreme capitalists or something ;)
*Insert triggered Conservitards*
*Insert triggered Liberals*
*World explodes*
Safety for workers still isnt a concern. Most factories/warehouses I've worked for just pay off the osha fines instead of actually fixing the safety problems
They pay the fine and do the bare minimum to avoid being shut down by OSHA. and as soon as the inspector leaves things go back to normal
Sources?
@@duruarute5445 just look at the OSHA report of Tesla factories from 2018
That's one of the more popular and many examples of unsafe workspaces owned by big corporations.
I mean I literally worked in a large corporation (that I will not name because the contract mentioned legal liabilities if I slander their name and even if its bullshit I'd rather not risk it) owned warehouse in the UK and the safety inspector did jack shit, as if HSE didn't exist. One big safety issue I remember was that the LLOP charging bays had multiple chargers with EXPOSED WIRES, they literally fixed it 2 weeks later by sticking it over with sticker rolls we use to print labels on. That was one of about 20 safety issues, some literally fatal, like a broken 1 ton cooking oil pallet on the 6th rack falling onto the gangway. There is literally a CCTV video of it that hit the local newspaper because it almost killed a picker.
TLDR, The source is any workspace owned by a big corporation, look into them and there is a 70% chance there will be at least 3 major safety violations.
Good thing this could never possibly happen today
Men who built America but only in a few minutes...
Hell Yes
W L I loved the Men Who Built America!
Great documentary
Interesting video. However, I do feel like you've missed two other business titans from the later era of the Gilded Age: Gardiner Hubbard and Theodore Newton Vail, who lead the Bell Telephone Company to become an absolute monopoly using similar tactics to Carnegie and Rockefeller: Buying up smaller companies and strangling out the remaining independents by not allowing them to connect with Bell's long distance network. In fact, the latter believed that Bell should be the _only_ telephone company with his statement "one policy, one system, and universal service". It gotten so bad that the successor company to Bell Telephone, the American Telephone and Telegraph Company, needed to settle with the government before a lawsuit came after them with the Kingsbury Commitment, promising to not buy any more independents and allowing them to connect with the long distance network. And while that delayed their ultimate fate, they were indeed broken up like Standard Oil in 1984. It's a pretty interesting story and another great example of this turbulent era before WWI.
When this video covers all your high school US History standards for like 2 chapters. 👍👍👍
Real life monopoly
The landlord game
Real life free market too
Get out of jail free cards for all
A board game usually won by the cranky and hyper 13 year old boy in the family. Yeah works IRL too.
@Relevant Relevancy it was made to help students learn, how is that propaganda.
We're in the 4th industrial revolution right now!
Nope. The first de-industrual revolution
More like the holy sh*t this is the tenth iPhone in 5 years Revolution.
Dave Hoffman, yees
Gifyifhk hmcucyk wtf do you me a de-industrial revolution? I don’t see any real lessening of industry.
Bob Johnson, i believe he was referring to how factories are shutting down in the west, and America mostly produces food and other agricultural products nowadays.
The age when capitalism went to far IS NOW BIG GUY!!!!
Teddy: the government will decide your fate
Carnegie: I AM THE GOVERNMENT!!!!
The next time someone complains about teddy being on Rushmore show them this.
You could also include the fact he got shot in the middle of a speech and still finished it.
You could have this video and then make some pseudo professor from PraggerU voice over it blaming poor people.
Well he has had a AnCap furry respond already, however he had some genuine points and a few mediocre arguements even if his is a fucking furry AnCap.
@Figgy G I agree that they are fucking retarded but they can be reasonable when it comes to very specific issues, most AnCaps want to get rid of the FDA, which is fucking insane. However the idea of deregulation is not a bad one at all
I was just thinking that.
its not so much that PraggerU is wrong or right but that they bring up points that others ignore. For instance the Railroad crash mentioned in this video was partly caused by to much government investment in railroads- The Federal Government was giving away massive advantages to "Pacific Railroads" even though the undeveloped country they went through often had little economic value and were extremely cost intensive to maintain. Likewise small towns would buy bonds to encourage railroad development even if the region they lived in could not support one. Thing was in those days the Railroad just like today is expensive to maintain and cannot make a profit if the region its supporting cannot support it in turn. also to many railroads resulted in over competition that resulted in them driving each other out of business.
*(Some political statement about something that I don’t actually know much about)*
Hey man that's like everyone on social media.
Here some free popcorn for the flame war in the comments 🍿
I really can't understand how all those captains of industry did not get assassinated left and right.
Monarchs in Europe constantly had to look out for themselves, but somehow those capitalists didn't fear for their lives all day...
If roosevelt werent president, situations could have been very very worse
erentar Agree.
FUND CITIZENS UNITED FUND CITIZENS UNITED FUND CITIZENS UNITED
*ROSEVELT* *IS* *A* *COMUNIST* *RRREEEEEE!!*
*better
I love capitalism, but just like any government, it can become too big and powerful and lose commonality with the people. While some regulation is necessary, too much is also detrimental to the economy. It's about finding balance, like all things in life.
Like kissing your homeboy good night and being straight. In perfect balance, as all things should be
Capitalism isnt a type of government
no but a corporation can grow too powerful
The only thing is what do you think the current "balance" is. Do you think the government is currently too big or is the corporation that is currently too big? If you say both or the government, then read below:
Government's current size is made up of 3 major spending categories. Defense, Medicare, and Social Security. Unless you are willing to severely cut at least 1 or moderately cut 2-3 of these, there is no big government from where we currently stand. Discretionary spending and the rest are small enough to be irrelevant. Not to mention majority of the bloat from military and medicare spending are caused by market forces.
So while government can become too big, we are nowhere near the breaking point. What we do have is artificial bloat of the government caused by a market that is getting way too big and powerful. Politicians that constantly talking about big government don't want to cut anything that makes corporations money, what they want to cut is anything that doesn't benefit corporations. When we talk about balance, it must include further elaboration, otherwise it can be seen as a cop-out. Like if I say, my current diet is 80% meat 5% vegetables and 15% junkfood, so I need more balance in my diet thus now I change my diet to 70% meat 2% vegetables and 28% junkfood. Balance is a word that is very subjective and prone to political and personal bias.
I think currently there is way to much regulation that gets in the way of innovation and in turn deters new competitors from entering into specific markets (automotive and renewable energy start ups are great examples of this). I especially think that the federal government is way too large and powerful, the economy should have little to do with politics because of how incredibly stifling it is.
Wealth inequality is higher today than the gilded age... let that sink in.
And neoliberalism sent the US back to this.
And now it is really REALLY important to remember this as we are entering the age of AI!
Artificial ignorance
Everything in moderation. A completely free market causes businesses to rise and control the country. But a fully socialized system causes the government to rise up and control the country. Market economies are good, but have to be kept in check, a struggle that will likely persist until the end of time.
@@DunmeriDrain Much obliged, friend. I've found a lot of people today unknowingly agree with moderate Libertarianism but are so enamoured with lefitst media and ideals that they're constantly supporting Socialism, a lost cause in the world that causes nothing but famine and poverty in the end.
well said bruh, I deadass can't believe how people think that a totally free market would be a good idea
@@0p10ids7 Yea, I identify Libertarian, but the extent that some of these anarchist level people take it is bonkers.
I'd be wary of accepting an eternally shifting scale of oppression. It reminds me of court culture in early Chinese dynasties, or how the serfs generally saw feudalism for centuries. They believed that their way of living would persist until the end of time and that they would always live in a world where power shifts from kings to bishops and back again. It was a worldview the nobles were happy to perpetuate for as long as they possibly could. I'm what you might call a less-than-insane anarchist. I am actually in favor of totally free markets, but I don't think they're without their dangers. I just think they're easier to address and live with than the dangers of the state. I also think that things like Generally Accepting Accounting Principles, Human Capital Strategic Planning, and other aspects of state-divorced business administration has changed in ways that dramatically favor employees and consumers, advancing far beyond things like minimum wages and benefits packages than what the state mandates at any given time these days. Now that's not true in the case of offshored cheap labor, but we're fast approaching the age where people will be suffering because cheap human labor has been replaced by cheaper and more effective machine labor. Education, compensation, benefits, training, and development of employees is now very important to employers, regardless of whom they are hiring at any skill level, and it's not because it's against the law to give people dead-end jobs or anything like that (after all, some people do consider unchanging job security to be comforting). It's because capitalism has evolved and improved since the gilded age. Ancaps aren't insane for wanting to give it another go when they see how much business has matured and how promising mutual aid societies were, but~ even I agree the time isn't quite right yet. Some states would literally crush ancap enclaves as if they were insurrections in order to keep their elite in power. Most governments are entirely unwilling to allow citizens to opt out of taxation and state benefits in any way, not even partially. Ideally to an Ancap, governments would voluntarily stop spending so much on services that their citizens don't want, allowing their services to become more voluntaryist and competed with. Still, a struggle that will persist until the end of time? Nothing persists until the end of time.