Synopsis
Defines capitalism and shows that the keystone in American capitalism is the principle of ownership of the means of production and distribution.
Uploader's description on archive.org
Details
- Running time
- 13 minutes
- Collection
- Prelinger Archives
- Internet Archive item
- 0228_Look_at_Capitalism_A_22_35_36_00
Reviews on the Internet Archive
What I see is wrong with what Ganus says: · maryfilippo · 2017-07-19
There’s no labor, no workers in the explanation of what capitalism is! He makes a toy animal of clay and says of his molding the clay, “You would regard the energy expended by me as capital.” Unique! All employees are producers and their work is capital! Professor Ganus summarizes, “Capital in a few words is money at work producing things.” But most money is created when a borrower signs an IOU with the bank. It doesn’t produce things. It is, 80% of the time, money loaned against assets already in place (real estate is the asset backing 80% of all bank loans). The bank extracts the interest…