The “Anarchist Collective” YouTube channel has produced a video entitled “Top Ten Arguments for Capitalism,” a video that is meant to disprove all of the major lies that are traditionally put forward by the system’s supporters. After watching the video, however, I am surprised at how poor a job the creator of the video did in achieving his goal of a thorough criticism of capitalism. There are quite powerful arguments that can be levied against the capitalist system and the alleged lies that defend it, but I see few of them being used here, and the arguments invoked that traditionally have a great deal of strength are used in a mostly ineffective manner. I have a generally high opinion of the Anarchist Collective, with their criticism of Austrian Price Theory being the strongest that I have ever seen. Unfortunately, however, this video that is key for their case for libertarian socialism over capitalism fails on all major fronts. I will briefly give an overview of what I see as the fundamental failures of the video, and of leftist libertarianism in general, before going on and overviewing the specific faults in the arguments made.
This article ended up being far longer than I wanted it to, so I have included a TL;DR summary towards the end of the article. Continue reading