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Saturday, December 4, 2010

I Love Capitalism

Once again, Grouch has posted an awesome video that I just had to pass on.

I was once at a flea market where an elderly lady kept holding algebra videos in her hands and clearly was on the fence about whether she should buy them. As sometimes happens, I couldn't help commenting, "Thinking of brushing up on your Algebra?" "No, no"," she said, "I'm thinking of these for my grandson." She told me how her grandson was struggling with math and how possibly the videos might help. I agreed and then suggested that, maybe the next time he asked to go to a movie or to be taken to the mall, she could say that she would take him if he completed a lesson on the videos.

That was not the right thing to suggest. She let me know that would be bribery and that she would never bribe her grandson.

At this point, you're probably wondering what all this has to do with the video from Grouch's site. Actually, capitalism is a type of bribery economic system. It bribes you to get out of bed every morning (even in the cold and with a hangover) to go out and do something positive for society. The bribe is, of course, a piece of the pie that the society produces. Economists prefer the word "incentive."

Think about the role of capitalism - private ownership of the means of production - as you view the world 's wealth increasing in the video.

Anyways, enjoy the video. I've often wondered how that grandson turned out and maybe if today he wished his grandmother had bribed him.


  1. fascinating video. I just sent it to my boss, because we are currently working on something similar at work... using data sets about world economies pre, during, and post recession. Very much like this. I find it interesting that there is so much information out there in any field, and all it takes is something like this video to make it interesting and comprehensible to the general public. Looking at those stats on a page just wouldn't speak as much.

  2. You hit the nail on the head. Can I expect my commission in the mail or are you wiring it to my bank? I'll forward 1% of my take to The Grouch.

  3. I only take cash or gold, no personal checks. :-)

  4. Just checked it out... I agree, it's quite an interesting video. The world recovered faster from the wars than expected as well.