27 January 2014

'Capitalism' Explained

How can capitalism best be described?


Capitalism is a term invented by Marxists

Marxist political economy

The Invisible Hand

Marx's projections through his theories


  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?


    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.

    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)?

    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.

  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.

    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.