so I see it already Scarlett last year too but you picked a textbook why are you complaining about it well first off this is my first time reading it as well so I think it's good just like you that we go through it in real time together and second that the whole point of my value added is if it's just if you just needed a textbook I could give you a thousand textbooks we have to go through the textbook and think the textbook um and so when we're talking about radical ideologies um they want to start with socialism communism fascism I don't know how you can understand a Socialism or a communism without a capitalism and again there are radical and revolutionary parts of capitalism the idea that I can develop a I don't know sell you I can sell you on many things I can create a problem in search of a solution I can create I think I've got it later I've got it here let's see if I can get right to it there's an Amazon product I believe it is here it is uh nothing uh you can buy this as a present for somebody it is the gift of nothing you're going to give them nothing but you're going to spend seven dollars to do it plus oh it's free shipping so there you go um that's radical and Innovative that you can actually get people to work um uh you know to make money to then give that money away um just for nothing for literal nothing right so that that's radical and Innovative I think that's interesting right so so we should talk about that um so like the textbook does with socialism communism and uh fascism I'm going to talk about a couple different types of capitalism again not exhaustive but we're just kind of doing some types in order to talk about the differences right so we've got liberal capitalism State capitalism then we've got Democratic capitalism socialism which actually just breeds into socialism so we might as well do that um yeah this idea of what a lot of there's a lack of understanding of what capitalism is markets predate capitalism right there's always been marketing go anywhere in the world there's a market that market doesn't necessarily make it capitalist what makes it capitalist is someone investing money and expecting a return on that investment um normally with a rate of interest so uh if you want to invest in me I'll give your money back at a three percent rate of interest and so the idea here is that how is capitalism radical well this comes from toxic who's an anthropologist um that again you can see that my anthropology is bleeding over uh in part because my wife isn't trained Anthropologist who is now works in horse riding um but the idea here is that um the the devil in uh commodity fetishism talks about how do societies move from non-capitalist to capitalist societies this is a question we still haven't figured out right um the whole premise of development or Improvement is the idea that those societies haven't fully integrated into the capitalist model yet and we see this all the time that societies kind of resist or aren't or aren't capable of of generating what we would see as the growth or the capitalist expansion or The Innovation or whatever it is we also see it's very and I don't want to jump into Harvey or anything but the idea that it's geographically situated we have like Silicon Valley we have these places where certain types of capitalism emerges so what the weird part about it is and this is what Tulsa talks about anthropologically is that capitalism very radical um it's a bunch of things it's one it's the supernatural belief that Capital will always produce more of itself and that's why we have interest rates is that you you're giving me your money to expect more of it back why would that be the case well because I'm not going to give you your money otherwise but why would growth necessarily happen well it doesn't always happen that's the the benefits of a free market where you can invest you can lose or you can gain and so it's competition okay but that belief that Capital will always increase it's kind of radical there's lots of ways in which we could say we need you know this is steady state economics that the most ecologically sound form of Economics is one that that looks to have zero growth right um also this idea that supply and demand results in a natural state of equilibrium and that's what determines prices is also weird um we can get into this more Stephen King has a whole bunch of stuff on his books called debunking economics basically that these are a bunch of mathematical slates of hand um in an open system Anything Can Happen only in a closed system can we have supply and demand have have equal have equilibrium and curves a lot of this is based on and I've got a chapter or article written on this on steady state economics is based on this equilibrium model which goes back to kind of modernist thinking that somehow there's always a bell curve and that bell curve is based on the idea there's a normal distribution so we still use this when we evaluate you we still assume that there's a normal distribution of grades there can be no aberration and so it becomes a self-fulfilling prophecy right we have equilibrium because it's the best system we should achieve equilibrium because it's there we need resilience to produce equilibrium those are all closed system models being used in open system they don't make a ton of sense and so then the third assumption is that government all government is an impediment to revolutionary transformation that capitalism provides social Mobility consumerism and inequality As Natural Things um which are all kind of radical ideas right um back to all the discussions we've had up to this point but also the idea of social Mobility right that's long history and I genuinely think that is a revolutionary idea it doesn't matter who you are what you do if you come up with a cool idea you can make money everybody understands that that's why there's so many influencers right you can just come up with a fake idea and make money it doesn't even matter and the consumerism right that consumers can actually vote with their money it's a very radical idea that you get to pick and choose the things that that when and don't but this also results in you know nothing literal nothing because of consumerism and that the fact that this produces inequality is natural and therefore we shouldn't intervene to stop it right these are all radical ways of of thinking this is kind of built into this model it's not just supply and demand it's it's what some call I don't believe it the story of stuff calls it this the artificial Demand right um that we spend billions of dollars to convince us that we're constantly bombarding us with what we need in order to to live through this system um but that's really about growth right um and so on top of this this idea of you know uh capitalism as based on these things is really a story that we tell and it's a story that labor and so this is from planning here it calls it the great transformation how do we get Capital societies he says this is a weird transformation we've always had markets how do they become this thing that dominates our social life well we take something like labor we we frame what we do labor just or are living labor is only another name for human activity what goes with life itself which in turn is not produced for sale but for entirely different reasons I do what I do because I'm interested in doing it nor that can be actively detached from the rest of Life be it stored or mobilized land is only another name for nature which is not produced by by people um money is just a token of purchasing power which isn't produced at all but comes through the banking years to the state none of this is produced for sale so the commodity description of land labor and money is entirely fictitious so this capitalist system is taking these things that exist and then calling them specific things and then these how frame how we think about what type of Labor we do and which labor is remunerated and by who and which is legal and illegal and then what are the costs of those labor and how those that labor is bound up with gender sexuality class about who has to labor how they have to labor and how they do things and this idea that somehow you know that the reason that we do things or the reason some people do things and other people do things as if they're different as if our labor isn't laboring and that we're not producing things because we want things is weird and so in terms of of capitalism then we've got liberal capitalism which emphasizes individualism private property Market relations competition and limited government right the the reason that it's liberal like having no liberalism has no endogenous theory of violence this is not falsifiable there are a set of assumptions about human nature and those set of assumptions about human nature can't be falsified they're utopian so we see this all the time well that's just supply and demand okay maybe um well that's just uh you know the way the the markets decided that's what individuals do they're self-interested uh government can't produce X Y or Z or government shouldn't produce x-wares like there's lots of cases where that's true but we use it as a framework it's a starting non-fault a falsifiable framework it's not a theory that we can test it's a theory we believe in it or not right um because we have other model right we have state capitalism we have you know the East Asian experience China Russia Saudi Arabia UAE Singapore Vietnam where the state just simply intervenes in capitalism right um there's State ownership there's intervention there's political coordination there's National interest all sorts of things that dictate this Japan's economic growth has largely been run by the chapel or by the um the big Japanese companies in the state at Chapel is the Koreans the big Korean company Samsung things like that that are both linked to the state and political power and supported by the state and so this idea then of capitalism as being one model is largely using the liberal capitalist idealism to then say those other models aren't real models but they're Real Models just like all the models we have to if we have to do this for socialism and communism we have to do this for capitalism as well and so um this idea then of producing these Frameworks this ideal framework of of consumerism consumption of individual choice and the way it distorts our social values um is the it's radical this is radical to have a mother um see what her daughter's doing and see that response and then be like wait a minute well there's money in this and so you can that's a changing kind of basic social responses and so capitalism is a radical proposition there's nothing wrong with calling it radical except in this chapter for some reason