Name: Myth of Late Stage Capitalism
Uploaded: 2021-10-08T18:53:36+00:00
Duration: 29 min 6 s
Description: The myth of late stage capitalism is something you commonly hear among countless many spreading the erroneous claims that somehow today's economy is capitalist. I've reiterated numerous times before t

2 years ago

myth of late stage capitalism late capitalism myths about capitalism

The myth of late stage capitalism is something you commonly hear among countless many spreading the erroneous claims that somehow today's economy is capitalist. I've reiterated numerous times before that we do not live under a capitalist system, but a mixed economy. As I've addressed, late stage capitalism is merely just an attempt to pretend socialism isn't present, therefore to exonerate socialism of the blame for today's economic problems and to project the blame off onto capitalism.

The argument of late stage capitalism comes with the usual myths about capitalism, whether it is about the wealth gap between the rich and poor; the famous automation myth that apparently is destroying the demand for human workforce, or that the economy is plunging towards collapse complaining about climate change and soaring private sector costs and the serious debt crisis. What they don't tell you, however, not only was none of this to blame on capitalism, but it had everything to do with their socialist government interventionism in the economy.

Whilst I can sympathise there is a problem with today's economy, they concede by acknowledging the fact capitalism is about the market regulating itself. A big concession given the fact they claim they live under late stage capitalism. The truth is, they wish to project the blame off onto capitalism, thus, to further the agenda of socialism.

In this particular video I don't go into too much detail as I have already covered a lot of the stuff contradicting the narrative they spout, however, what this video illustrates is the anticapitalist mentality and the problem with their erroneous arguments.

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