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I love 2:42 of the video where the guy mentioned companies creating products with flaws on purpose to garner future profit. I just argued this point with a few posters in another thread last night.
Both the private and public sector (if there is such thing as a separation) purposefully work inefficiently in some manner to promote the systematic plan of said entity...nearly universally for profit. I've seen it firsthand in both sectors.
I love 2:42 of the video where the guy mentioned companies creating products with flaws on purpose to garner future profit. I just argued this point with a few posters in another thread last night.
Both the private and public sector (if there is such thing as a separation) purposefully work inefficiently in some manner to promote the systematic plan of said entity...nearly universally for profit. I've seen it firsthand in both sectors.
Yawn.
You start a company and sell a flawed product on purpose to garner future profit.
I'll start a company and make the same product but it won't be flawed.
You go out of business because no one will buy a defective product when they can buy the same thing and it actually works. I garner all future profit.
He makes some excellent points when he talks about how bad the education system is. He sounds intelligent blaming government school failure on capitalism. lol. Guess he doesn't realize public schools are not capitalist. He makes a good case for privatizing all public schools.
How can you debunk these points he made? I think these arguments are valid although I don't agree with him ideologically.
He states capitalism doesn't lead to innovation.
Automobile
Airplane
Light Bulb
Movies
Personal Computers
World Wide Web
Housing
Clothing
improved food production
efficient use of natural resources like oil/coal/electricity
Television
Telephone
Roads
Architecture
Art
Medical advances
money
All things developed/invented in the private sector
He also says capitalism has only been around 200 years?????
You start a company and sell a flawed product on purpose to garner future profit.
I'll start a company and make the same product but it won't be flawed.
You go out of business because no one will buy a defective product when they can buy the same thing and it actually works. I garner all future profit.
NEXT !
Companies collude in their fields because rigging the industry, whichever one it may be, is the only way to assure longterm survival. When they can no longer avoid advancement due to technological advancement inside and outside the specific industry they either bail completely or rewrite their business model.
I never said so-called capitalism doesn't spark innovation and progress. It does. I'm just pointing out how inefficient it is due to profit motive and other capitalist ideals (patents, copyrights, artificial timetables).
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