"Pay my troops no mind; they're just on a fact-finding mission."

23 Things They Don’t Tell You About Capitalism

2 responses to “23 Things They Don’t Tell You About Capitalism

  1. Jonathan L June 16, 2012 at 5:51 pm

    So first he starts off the video stating that no market in the world is free and then, later, states that the last three decades of free markets haven’t served us very well so we need to change to something else. Methinks he has already negated his own logic. First, lets actually try a true free market and then find out if it is working like we want or not.

  2. Alrenous June 29, 2012 at 1:03 am

    On fairness:

    “Is cab driver one fifty times better than cab driver two?”

    In America, a doctor’s physical is about $150, while in Somalia it’s $0.50. Is the American doctor really 300 times better than a Somalian?

    Oh wait, the wage bruited about as low in Somalia is $1 a day. The minimum wage in America is roughly $60-$70 a day. Who’s actually richer, here? Consider too that the doctor’s expenses – for example, cab fares – will be many times higher in American than Somalia.

    A snail is better informed than this guy on this point, and you’d literally be better off talking to a snail about it.

    That said, I like his bit about dividends and stocks. The practice of paying dividends has declined, and most likely it is because it makes the already perverse stock-owner incentives even more perverse. This short-term thinking doesn’t work nearly as well when the stock owner can’t profit despite selling the stock lower than when they bought it.

    Though I would never take one of my own companies public. It’s a devil’s bargain.

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