capitalism most commonly associated with
titans of industry such as john d
rockefeller andrew carnegie and mr.
peanut welcome to watchmojo.com in this
installment we’re counting down the five
most interesting and revealing facts
that we could find about capitalism the
economic system set in place by most
developed nations today yes like to
order the erica carring dust ruffles
number five depending on who you ask
china is now a capitalistic country gone
are the days of Mao Zedong and the Red
Army China has experienced massive
economic growth in recent years and much
of this is due to changes in economic
structures beginning in the 1970s once
strictly communist the Chinese
government has been consistently opening
itself up to more and more free-market
ideologies and is now a hybrid of
capitalism and communism or more aptly a
state capitalist society while financial
institutions such as banks are still run
by the Chinese government foreign
investment class structures and
privatization are symptoms that
full-blown capitalism may be just down
the road for them number four capitalism
relies on a process known as creative
destruction destruction is a form of
creation so the fact that they burn the
money is ironic they just want to see
what happens when they turn the world
apart creative destruction is a
phenomenon that relies on the
destruction of old technology to allow
for new and innovative technology to
take its place
Netflix is a great example who wants to
leave their house to rent a movie when
you can get movie rentals mailed to you
or later just get them on demand
turns out nobody so blockbuster goes
under closing nine thousand rental
locations putting nearly sixty thousand
people out of work not to mention all
the small mom-and-pop movie rental
stores
that’s a lot of hardship for a lot of
people but as consumers we cheer for
this innovation by and large c’est la
vie capitalists would argue that this
creative destruction was necessary for
our society and economy to be better off
as a whole about these windows we will
view the collapse of financial district
one step closer to economic equilibrium
number three not all forms of capitalism
are the same same same but different but
did say there are three types of
capitalism that are most prevalent in
this day and age at one end of the
spectrum is less a fair capitalism is it
possible we can solve this with more
freedom instead of less preaching that
the less government involvement there is
the better off society will be we don’t
want government or anyone really telling
us what we can and can’t do then there’s
welfare capitalism which is most common
in developed countries services such as
social security and health care are
provided under this system even though
they may not make sense economically in
the short run I still pay my taxes and
where where’s that money yet finally
there’s state capitalism which is what
we discussed in modern-day China where
the government controls the means of
production the factories the fields the
offices but trademarks of capitalism
such as wage labor and class structures
are still in place number two it’s
possible that debt came before currency
Adam Smith and many other famous
economists have outlined how they
believe currency came to be supposedly
it took the place of tedious and
limiting barter systems allowing folks
to go to the market without taking half
their belongings with them for trade no
don’t don’t don’t unload Jess Chen
first I had to finagle with trittyes
according to these teachings there could
be no debt without currency however
anthropologist David Graeber
has convincingly argued just the
opposite debt has been around long
before currency money is dad magnets are
just a bunch of circulating IOUs in his
book debt the first 5000 years he cites
examples such as clay tablets broken in
half with one half given
debtor and one-half to the creditor that
have been dated back to way before the
onset of coinage according to him this
has serious ramifications on how we view
debt when we should choose to forgive
debt and government’s role in our market
number one without bust cycles there can
be no capitalism since the end of World
War two
the US has experienced approximately 12
boom and bust cycles if you’re wondering
why an extended period of steady growth
is out of the question the answer is
because of capitalism economic booms
allow people to borrow money easily and
therefore invest in new projects
businesses homes and more unfortunately
there’s such a thing as too much of a
good thing an over-investment will
eventually take place leading to a
decline in value of the above-mentioned
items this decline in value also means a
loss of money and jobs and eventually a
bust cycle it seems like every time
people panic and think that something’s
gone wrong but this is just the circle
of life in the world of capitalism and
the next bull market is usually just
around the corner that’s the one thing
the Trump’s religion capitalism so what
do you think well China one day be the
gold standard for free-market trade or
where we all get tired of boom and bust
cycles and who would win in a fist fight
mr. peanut or rich uncle Pennybags more
money grubbing top tens and
penny-pinching top fives be sure to
subscribe to watchmojo.com i’ve been a
rich man and i have been a poor man and
i choose rich every time
you
titans of industry such as john d
rockefeller andrew carnegie and mr.
peanut welcome to watchmojo.com in this
installment we’re counting down the five
most interesting and revealing facts
that we could find about capitalism the
economic system set in place by most
developed nations today yes like to
order the erica carring dust ruffles
number five depending on who you ask
china is now a capitalistic country gone
are the days of Mao Zedong and the Red
Army China has experienced massive
economic growth in recent years and much
of this is due to changes in economic
structures beginning in the 1970s once
strictly communist the Chinese
government has been consistently opening
itself up to more and more free-market
ideologies and is now a hybrid of
capitalism and communism or more aptly a
state capitalist society while financial
institutions such as banks are still run
by the Chinese government foreign
investment class structures and
privatization are symptoms that
full-blown capitalism may be just down
the road for them number four capitalism
relies on a process known as creative
destruction destruction is a form of
creation so the fact that they burn the
money is ironic they just want to see
what happens when they turn the world
apart creative destruction is a
phenomenon that relies on the
destruction of old technology to allow
for new and innovative technology to
take its place
Netflix is a great example who wants to
leave their house to rent a movie when
you can get movie rentals mailed to you
or later just get them on demand
turns out nobody so blockbuster goes
under closing nine thousand rental
locations putting nearly sixty thousand
people out of work not to mention all
the small mom-and-pop movie rental
stores
that’s a lot of hardship for a lot of
people but as consumers we cheer for
this innovation by and large c’est la
vie capitalists would argue that this
creative destruction was necessary for
our society and economy to be better off
as a whole about these windows we will
view the collapse of financial district
one step closer to economic equilibrium
number three not all forms of capitalism
are the same same same but different but
did say there are three types of
capitalism that are most prevalent in
this day and age at one end of the
spectrum is less a fair capitalism is it
possible we can solve this with more
freedom instead of less preaching that
the less government involvement there is
the better off society will be we don’t
want government or anyone really telling
us what we can and can’t do then there’s
welfare capitalism which is most common
in developed countries services such as
social security and health care are
provided under this system even though
they may not make sense economically in
the short run I still pay my taxes and
where where’s that money yet finally
there’s state capitalism which is what
we discussed in modern-day China where
the government controls the means of
production the factories the fields the
offices but trademarks of capitalism
such as wage labor and class structures
are still in place number two it’s
possible that debt came before currency
Adam Smith and many other famous
economists have outlined how they
believe currency came to be supposedly
it took the place of tedious and
limiting barter systems allowing folks
to go to the market without taking half
their belongings with them for trade no
don’t don’t don’t unload Jess Chen
first I had to finagle with trittyes
according to these teachings there could
be no debt without currency however
anthropologist David Graeber
has convincingly argued just the
opposite debt has been around long
before currency money is dad magnets are
just a bunch of circulating IOUs in his
book debt the first 5000 years he cites
examples such as clay tablets broken in
half with one half given
debtor and one-half to the creditor that
have been dated back to way before the
onset of coinage according to him this
has serious ramifications on how we view
debt when we should choose to forgive
debt and government’s role in our market
number one without bust cycles there can
be no capitalism since the end of World
War two
the US has experienced approximately 12
boom and bust cycles if you’re wondering
why an extended period of steady growth
is out of the question the answer is
because of capitalism economic booms
allow people to borrow money easily and
therefore invest in new projects
businesses homes and more unfortunately
there’s such a thing as too much of a
good thing an over-investment will
eventually take place leading to a
decline in value of the above-mentioned
items this decline in value also means a
loss of money and jobs and eventually a
bust cycle it seems like every time
people panic and think that something’s
gone wrong but this is just the circle
of life in the world of capitalism and
the next bull market is usually just
around the corner that’s the one thing
the Trump’s religion capitalism so what
do you think well China one day be the
gold standard for free-market trade or
where we all get tired of boom and bust
cycles and who would win in a fist fight
mr. peanut or rich uncle Pennybags more
money grubbing top tens and
penny-pinching top fives be sure to
subscribe to watchmojo.com i’ve been a
rich man and i have been a poor man and
i choose rich every time
you
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