I’m joined by my friend Esoteric Entity in this video. Tovarishch Endymion thinks that Marx proved that profits inevitably fall and therefore Capitalism was doomed from the start. However, market economies still thrive while socialist visions like the USSR have collapsed. Was Marx right? Even if he was, he certainly didn’t prove that Capitalism is doomed or that Socialism is superior.

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Academic Sources:

Cockshott, P. (2013). Is the Theory of a Falling Rate of Profit Valid? World Review of Political Economy, 4(3), 323-340.

Sowell, T. (2014). Basic Economics. New York: Basic Books.

How Government Regulations Made Healthcare So Expensive. (2017, May 09). Mises Institute. Retrieved from https://mises.org/blog/how-government-regulations-made-healthcare-so-expensive

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