Capitalism is good. Let me explain.
youtu.be
Learn more about financial models, quantum mechanics, or many more topics in science and maths with Brilliant! First 200 to use our link https://brilliant.or...

Hossenfelder just posted a video titled “Capitalism is good. Let me explain.”, and it’s about what you’d expect.

Some societal advancement happened under a capitalist system? Well then capitalism must get the credit. She also conflates “capitalism” and “markets” pretty often.

Hossenfelder contends that markets need to be regulated to not be abused by those in power or fuck up the environment, but insists that despite these regulations this is still a free market, and therefore free markets/capitalism are good, we just need to “set it up properly”.

She only makes passing remarks about Greta Thunberg and Marx as opponents of capitalism whom you should pay no attention to, and does essentially what economists in the 1800s did: Philosophize about what non-existent “completely rational” consumers and corporations might do, and not look at any actual data.

The like/dislike ratio and the comments tearing into her do give me some hope though.

  • su25@lemmygrad.ml
    27·
    1 year ago

    her attributing scientific progress solely to capitalist backing is pathetic. the soviet union went from feudalism to sending the first man in space in around 50 years. please tell me more about how capitalism has been efficient in scientific research that isn’t related to warfare and cool new killing machines.

  • RedSquid@lemmygrad.ml
    17·
    1 year ago

    Shitty “scientist” with a failed career turned into a youtube grifter. It’s no surprise her main selling points are bigotry against trans people and those on the autism spectrum, and this… braindead drivel.

  • Tatar_Nobility@lemmy.ml
    11·
    1 year ago

    I haven’t yet watched the entire video (in fact, I didn’t pass two minutes) but right off the bat she assumes that economies were originally (and always) sustained by a bartering system, a presumption as old as capitalism. Many scholars prove that this was not the case. This repetitive anecdote only serves to create an imaginary problem to justify the necessity of capitalism later on.

    I might edit my post as I watch the rest of the video.

    Edit: “but that’s another story,” a story which she will actively avoid because it overturns the entire mode of production on which she a priori built her fantasies.

    Edit 2: her conflation of capitalism and “progress” is very problematic in its own right. She’s basically saying that without capitalism there could be no “progress”, no “innovation” and no “civilization”. The only way to progress is through capitalism. I am reminded by what Mark Fisher wrote on capitalist realism, which is a “widespread sense that not only is capitalism the only viable political and economic system, but also that it is now impossible even to imagine a coherent alternative to it.”

    Edit 3: she writes in the description that “[t]his video is a brief summary of a dip I did into microeconomics literature in a dark hour of my life.” It shows.

    • albigu@lemmygrad.ml
      11·
      1 year ago

      Might be the de Grasse Tyson Effect where one PhD in one field gives them free pass to authoritatively say nonsense in any other field. Pop scientists have this thing for getting too high on their popularity.