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