Is Capitalism Actually Efficient?

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How many times have you heard the claim that capitalism is the most efficient system for the production and allocation of goods and services? It's a very common talking point in the "western world," especially in the United States. In this week's video, we'll deconstruct that myth and discuss what capitalist "efficiency" actually means.

Is Capitalism Actually Efficient? – Second Thought
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Capitalism and markets:
https://www.rdwolff.com/capitalism_is_not_the_market_system

Capitalist perspective on dangers of short-term thinking:
https://www.nytimes.com/2019/12/21/opinion/sunday/capitalism-sanders-warren.html

Marx on class structure under capitalism:
http://uregina.ca/~gingrich/s28f99.htm

Imperialism:
https://www.marxists.org/archive/lenin/works/1916/imp-hsc/

Amazon destroying products:
https://www.itv.com/news/2021-06-21/amazon-destroying-millions-of-items-of-unsold-stock-in-one-of-its-uk-warehouses-every-year-itv-news-investigation-finds

Dunkin Donuts worker fired:
https://www.dailydot.com/irl/dunkin-employee-who-exposed-waste-policy-fired/

Dairy farmers dumping milk:
https://www.cnn.com/2020/06/08/perspectives/cabot-dairy-farmers-pandemic/index.html

Potato farmers abandoning crops:
https://www.businessinsider.com/potato-farmers-destroy-potatoes-covid19-even-in-a-food-shortage-2020-6

Grocery store waste:
https://www.nrdc.org/sites/default/files/wasted-food-IP.pdf

Texas electrical grid problems:
https://www.nytimes.com/2021/02/21/us/texas-electricity-ercot-blackouts.html
https://www.utilitydive.com/news/the-real-problem-in-texas-deregulation/595564/

Champlain Towers collapse:
https://www.nytimes.com/2021/06/26/us/miami-building-collapse-investigation.html
https://www.nytimes.com/2021/07/06/us/florida-condos-insurance.html
https://www.youtube.com/watch?v=seZHbB4Nijs
https://www.cnn.com/2021/07/08/us/miami-dade-building-collapse-thursday/index.html
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Видео Is Capitalism Actually Efficient? канала Second Thought