Capitalism vs. Socialism vs. Democratic Socialism
Channel: David William Beck
Date: 12/09/2019

So this talk really came out of facebook chats about these models. So in this talk, I try and cover the following topics: 

Introduction - what are Capitalism, Democratic Socialism and Socialism.

Is profit unjust? 

Should we pay workers 100% of what they produce? (aka surplus value)

Problem with socialism - all power to the state, no entrepreneurship or individual innovations. 

Should the workers own the means of production? (Chinese Collectivist farm failure)

‘We live in a communist utopia.’

State spending as a percentage of GDP has risen over time. Maybe Marx was right here.
(…the level of state spending and taxes, as a share of GDP, has risen from about 12–13% to about 20% of GDP over the last four decades…) https://tinyurl.com/GDPtoTAX

Seen and unseen value.
(The highest-earning 1% in the UK pay an estimated 28% of all income tax.21 Jun 2018)
(The top tenth of taxpayers paid close to 60pc of all income tax last year) 
https://tinyurl.com/telegraph-tax

Why the market should reward highly productive workers and entrepreneurs financially.

Why capitalism helps us all. (1,000 innovations that made the modern world)

Socialism and environmentalism. – A troubled past.

‘Communist China is becoming an Orwellian hellscape.’

Raising yearly income to 5k to make people care about the environment. 

Capitalism has millions of leaders (spending and voting). Socialism has 250. 

The specialisation of labour. (Why Marx was wrong)

Capitalist business gains 3% efficiency a year.

Ftse 100 companies only live about 25 years, half the companies left since 1999. 
https://tinyurl.com/FTSE100left

‘In the workplace, the Pareto principle means that 80% of the responsibility and work are shouldered by only 20% of your employees.’

‘I support a benevolent society that cares for its people, but socialism would prevent the hardest working and most competent people from flourishing.’


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#Capitalism #Socialism #Democratic