The Truth About Capitalism: Non Compete Debunked on Why Capitalism Sucks Part 3

In this third part video on the truth about capitalism having debunked Non Compete on 'why capitalism sucks,' I cover his fallacious argument critiquing capitalism in a bike example he covers in his second part video. Non Compete, again, doesn't understand prices and why without profits and losses the company would be screwed given the complexity of the varying resources used to produce bikes, as well as the different colours and types produced.

I also have Non Compete debunked on his argument regarding wages as he erroneously claims that the fall of prices from productive output, the capitalist cuts costs and gets away with underpaying exploiting the skilled-workers. He also contradicts himself on this claim as it proves the opposite of monopoly creation from what he stated in his first part video.

Unlike himself in his videos where he has made baseless silly claims on why capitalism sucks, I have provided plentiful information and facts that contradict his narrative. It is vitally important for people to get to understand the economic calculation problem as it helps people understand the argument made for why it is not as simple as producing one type of bike that are all the same.

Finally, his argument on automation has been debunked countless times over, Henry Hazlitt's argument on the machines can be found in his excellent book 'Economics in One Lesson' which you can read for free here or listen to:

• https://fee.org/resources/economics-in-one-lesson/

The argument I made on both parts on the economic calculation problem can be found here:

• part 1 - https://www.youtube.com/watch?v=mVbbFVKWdhI
• part 2 - https://www.youtube.com/watch?v=bFoqXD_o6Wc