Capitalism In One Lesson in less than 15 minutes, by Nielsio


This time I won’t say much. I’ll just let this video speak for real capitalism, the antithesis of socialism.

I will just point out that the section in this video that mentions Smith, Mises, Hayek, Rand and Friedman, I do not fully agree. I have studied much of Hayek’s writings and at this time find no truth in the statement about his advocacy of the state controlling anything. Also, Mises’s writings do not fully lend to this opinion so far as I have learned either. Both Hayek and Mises were ardently against state control and manipulation of the free market and both had written on this throughout their lives. I see no evidence YET, that supports this point of view. But otherwise the video is very well laid out in support of capitalism.

I will also add that though I agree with the example the video uses on democracy, It behooves me to point out that it is for this reason that America was originally established as a representative republic. Why the author of this video does not point this out is incredible to me.

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2 CommentsLeave a comment

  1. Hi,

    I found this through a web search.

    Re: Hayek,

    My main source for the things I’ve mentioned is his 1973 book ‘Law, Legislation and Liberty’.
    http://en.wikipedia.org/wiki/Law,_Legislation_and_Liberty

    Re: Republic,

    It doesn’t matter what the structure is: if there is voting then the structure can be changed, and so too the rules.

    And if the structure cannot be changed then it is socialism (i.e. dictatorship).

  2. Re: Hayek,
    I have not read Law Legislation and Liberty. So maybe there’s something he mentioned there, but in all my studies from the Austrian School of thought I’ve seen nothing supportive of the State from Hayek nor Mises.

    Re: Republic,
    Your response here is somewhat obscure to me. I would need a little information on exactly what you are saying to comment.


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