27 January 2014

'Capitalism' Explained

How can capitalism best be described?



Links:

Capitalism is a term invented by Marxists

Marxist political economy

The Invisible Hand

Marx's projections through his theories

6 comments:

  1. Thanks for your video. I really enjoyed it.

    I was wondering if you would consider usury a breach of morality and thus an unethical practice in free trade. As a philosopher, have you researched Aristotle's condemnation of it, and if yes, can you give some of your thoughts?

    Thanks

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    Replies
    1. I don't consider usury to be unethical. People have a choice to lend or not, so it's a form of voluntary activity. Like anything else, only foolish people engage in activity that they cannot be responsible for.

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    2. If I could, I'd like to put forward a monetary question to you... And please note that I prefer the term "Monetary" because I feel "Economics" is a term that is too all-encompassing.

      Given that Leftists in the past have instituted positive liberties to enforce centralized monetary policies (Take the Gold Confiscation Act for example), would you place a monetary system in the same realm as a military (i.e. a necessary "positive liberty" that must exist for the sake of national security)?

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    3. Centralised monetary policy is coercive if people don't have a choice to use other means of exchange, or to opt out. Thus, present monetary policy is very coercive, and very much based on positive liberty.

      Hope that answers your question.

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  2. Yes, thank you.

    I wish Libertarianism as a political movement would differentiate between voluntary monetary exchange regardless of what type of Nomisma is used and centralized precious metal currency which is what a lot of Libertarians advocate. It would be great if you could do a series of videos on money.

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    Replies
    1. I will see what I can do - I think there might be an angle for me to make at least one video on monetary policy.

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