Socialism is Coming: Owen Jones Debunked Part 1

Socialism is Coming: Owen Jones Debunked Part 1


“Socialism is coming.” Let’s not lie to the
people, Owen Jones, we all know that socialism is already here. “Our old social order is
collapsing all around us. Call it Neoliberalism, call it free market fundamentalism.” You can
use this term Neoliberalism as much as you want, it’s a made up term, it’s something
that doesn’t even exist and if you’re referring to the transition towards capitalism, I would
hardly call an economy with strong corporatism, strong government regulation over the private
sector as some sort of transition towards a free market. You could argue that there
was unregulated markets facing with what led to the banking crisis, however, even that
is deeply flawed, as the FSA (Financial Services Authority) controlled the UK banking regulations
between 2001 and 2012 and even their handbook was more than ten and a half thousand pages
long in regulations. Are we towards a free market economy? No, because we have a central
banking system, one which controls and manipulates interest rates, changes the reserve ratios
and of course, prints FIAT currency out of thin air. To have a free market it needs to
have free market money, that was taken from us which was gold and silver. We should have
interest rates that are set by the laws of supply and demand freely in the marketplace.
“An order of privatisation, of deregulation…” So, you say there is an order for deregulation,
so, basically what you have done is you have conceded to the fact there never was a deregulated
economy. There is an order for deregulation, because it’s that which will free the economy
up, open up fierce competition in the marketplace and consumer choice and it’s that that prevents
the monopolies from forming. You don’t want that, however, you want to remain within this
current system. Well, no, you don’t actually, let’s be more accurate to be fair to yourself,
you want Marxism and by Christ that’s even worse than what we have today, that’s asking
for Venezuelan style poverty and food shortages. “of low taxes on the rich and big business…”
Low taxes on the rich and on big businesses is not so much a bad thing, it was never really
the fault of big business to start with, big business is a positive thing to the economy
and the history of Standard Oil pretty much proves that. It’s to do with the fact that
the current system in a free market they wouldn’t have that same opportunity and the history
of Standard Oil could not be clearer on that very issue, just look at how they were forced
to continue on driving down their costs because of competition, after all, their main competitor
was the producer and seller of the electric light bulb. “it is failed to provide a decent
and affordable housing.” I’ve got to laugh at this one. All thanks to your government
intervention that has restricted supply and thanks to all your wonderful welfare statism,
wonderful social security, all your wonderful free goodies, we were forced to pay for that
by compensating, by cutting back elsewhere in the economy and raising the costs of living.
Most importantly, however, is the very fact that we are faced with about 350,000 people
flooding into this country every year and therefore, the supply of housing cannot keep
up. Now, if you understood the laws of supply and demand, you would understand the very
reason why the costs of housing basically soared. It soared as a result of not just
all your socialist welfare statism and social security, it soared through the roof because
people such as yourself seem to believe we can have a welfare state at the same time
as having an open door immigration policy. “the increasing living standards, the world
class services that should be the birthright of every single citizen…” You mean those
world class services such as the NHS which left countless thousands of people in neglect
every single year which has been famous for not just the massive big long waiting lines,
but famous for all the waste that it’s caused, because it’s been faced with the economic
calculation problem which you don’t understand? “of one of the wealthiest societies that has
ever existed.” I’m sorry to tell you, but just because you spend a lot of money, does
not make you wealthy. The fact that you’re sitting more than £8.6 trillion in debt does
not make you wealthy. That’s a bit like me saying, yeah, I’ll borrow money, I’ll put
myself in debt, I’ll go out and buy myself a Ferrari and a big massive mansion, I’ll
live in it and pretend I’m wealthy. The fact of the matter is, it’s borrowed money, it’s
debt and that’s essentially it, Britain has been broke since the end of the first World
War, never let alone the second World War. So, where you got this idea from that we’re
somehow wealthy is beyond belief. How could people such as yourself get to that conclusion
that £8.6 trillion debt is wealth. “gives us rip off and inefficient utilities like
the railways, like energy…” You mean those inefficient utilities such as the British
rail today which is faced with much government intervention that’s caused the costs to soar
through the roof because there’s not enough privatisation in the marketplace. “Dogma that
put profit ahead of a wider social good.” Ah, it’s the good old ‘it’ll put it ahead
of profit’. I’m sorry to tell you, but, if you honestly think you can run a society without
the profit motive, it’s just completely delusional. Now, we’ve looked at recorded history, we’ve
seen what your socialism did all over the African continent after it flirted with Marxism
and Leninism; we saw what it did in the Soviet Union; we saw exactly what socialism did in
China; we saw what it did in Cambodia; we saw what it did in Cuba; we saw what it did
all over the South American continent, in fact, Argentina faced two defaults in the
space of a decade. How you can draw to the conclusion that your socialism will bring
it all into the hands of the people like you always, it’s always this rhetoric about it’s
always in the hands of the people, it’s workers control over the means of production. Yeah,
where have we ever seen that? And the fact of the matter is, even if you did want to
make that argument, you’re still faced with two problems: (1) you’re going to have to
control prices or (2) you want your moneyless based economy, now, either side of that argument
whether you have a moneyless based economy or an economy where you want to control prices,
you’re faced with the economic calculation problem and that means that as a result of
your price controls or the lack of information of prices through a moneyless based economy,
it means without the information of profits and losses, you’re faced with the misallocation
of valuable scarce resources. Now, tell everyone how you propose to provide the people for
what they need and want when you don’t even know what scarce and what is not; what valuable
scarce resources to use and what not to; where to allocate them, where not to and even what
to invest more in and what not to. If you don’t hold the information of profits and
losses, you may as well forget it and if you don’t understand that, then pick up an economics
textbook because it seems to me you’ve never touched one. “Socialism, it means building
on successes that already exist, the national health service…” The National Health Service,
you honestly called that a success, that soared through the roof because they centralised
it and because of an extremely high demand because everyone was getting healthcare, well,
that’s what they said and as a result of that, the cost soared through the roof. So, what
did your wonderful government try to do to rectify the problem of a soaring healthcare
cost? Ah, that’s right, it pulled off a Venezuela, it pulled off a government price ceiling.
If you don’t know what that means, it means they artificially (keyword there is artificially),
they artificially lowered the cost below market value and it caused a shortage. Absolutely
fantastic, that was absolutely brilliant and what happened? The cost just kept on soaring,
so much so that your NHS is costing more than £108 billion per year. Before you tell everybody
about the United States of America and their healthcare costs, just remember that when
it came to the United States of America they were faced with three problems; the American
Medical Assosciation Monopoly, granted by the U.S. government; the over regulation of
the private sector and of course the Third Party Payer system, which has got nothing
at all to do with a free market because a free market is all about consumers shopping
around freely for what they wish to have and private providers being in fierce competition
to provide and there is a straight transaction between the consumer and the provider. This
is absent from the American healthcare system and has been absent from the American healthcare
system for arguably more than a hundred and ten years. So, don’t even bring the United
States of America into that argument.

40 Comments on "Socialism is Coming: Owen Jones Debunked Part 1"


  1. Lets stop calling them socialist every Right winger in the world should call these people what they really are fascist.
    cuckservatives need to shut the fuck up by calling them communist they are fascist. communism doesn't exist, if these twats wanna claim" it's not real communism" well fuck em then they must not be real communist so lets call them what they must be then Fascist.

    Reply

  2. This wee cretin is the problem with his self rituous clap trap, he needs to be sent down a mine to work for a year then see how he feels ,

    Reply

  3. Socialism is great if you ignore the history of it, but only an idiot could do that and still recommend it.

    Reply

  4. "Nationalisation doesn't work!" proceeds to ignore Nordic Social Democracies

    Also you're using "Conservatives for Liberty" as a source for proof that Railways shouldn't be nationalised?

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  5. A school of thought says we have socialism now. It's not libertarian anyway, the government can't leave people the fuck alone.

    Reply

  6. I agree with some of what you say. We don't have a free market. However I'm not an ideologue in any sense of the word. What sort of society would be your ideal? Would you bring everything into the market? Privatised police/military/transport network? And would everything have a price? Child labour?

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  7. This is a load of bullshit. Who can actually look at the state of this world and go "yeah capitalism works".
    We talk about being forced to pay for social welfare…. did we not pay to bail out the fucking banks?!?!? Are you fucking kidding me.
    Immigration….holy fuck man.

    Reply

  8. The thing about Venezuela and every socialist country that existed is that they are authoritarian shitholes, I think we should give libertarian socialism a try. ( Also you mentioned the financial crisis, which was caused because of the banks, and the banks got bailed out almost a trillion pounds, no shit we had to cut back public funding you shithead), also you call yourself a libertarian which means, freedom , right, then why are you against immigration and FREEdom of movement.

    Reply

  9. Owen Jones, and sadly a lot of young people like him, do not understand history or human nature. There really is no excuse for supporting socialism when we have so much history that shows it for what it is – an ideology of economic ruin and political tyranny.

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  10. Sorry but you're full of rubbish. It is open door immigration and the taxes generated that contributes to the welfare state you moron.

    Reply

  11. Definitely socialism does not work because why are all the socialist Scandinavia countries the most happiest in the world

    SOCIALISM WORKS!!!!

    Reply

  12. 8:12 – Jones: "Socialism… it means building on success…" Yes, Jones… building on the success OF CAPITALISM .. !!!!!!!

    Reply

  13. Fair play to Mother Jones, This is the first time, he has spoken without, mentioning the "LGBTQ" community πŸ™‚

    Reply

  14. Good I wish that nut job Owen Jones had a real pair of Bullock and have a debate on this with you keep up the good work Scott a real friend, cheers Andra B

    Reply

  15. Socialism is evil – and Owen Jones is a slimy, greasy little bourgeoise champagne socialist prick.

    Reply

  16. Owen jones is a blinkered left wing clown, he thinks that socialism is the answer to the whole world's problems when in fact its the causes, free this, free that, its no wonder half the third word want to escape poverty to come to our country, Owen jones you are a deluded idiot, with your beliefs we will be fucked. The last one leaving our country please switch off the lights.

    Reply

  17. Every successful country has a mix of capitalism and socialism. And in my view Britain is a fantastic society.
    This idea that we need to change radically is stupid just little changes is the way to improve.

    Reply

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