Summary
The video discusses the Bhopal disaster in 1984, caused by a gas leak from a Union Carbide factory in India. It explores how capitalism perpetuates inequality by favoring the wealthy and exploiting the poor. The origins of capitalism, rooted in Adam Smith's free-market principles, have led to global trade impacts and colonization. The narrative highlights the need to address the shortcomings of capitalism to achieve a more equitable society.
Union Carbide Factory in India
In 1984, Union Carbide, an American company, opened a large pesticide factory in India. The company paid Indian workers one-fiftieth of an American worker's wages and received full tax exemptions. An incident occurred in December that led to a catastrophe in Bhopal, with thousands dying due to a gas leak from a weapon used in World War I. The company blamed Indian workers for sabotage, resulting in tens of thousands suffering from cancer or deformities.
Capitalism and Social Inequality
Capitalism aims to control resources for the wealthy without considering the poor. It perpetuates a class system dividing farmers, workers, and achieving equality commercially and industrially. The ideology of capitalism originated from Adam Smith, promoting free-market principles to balance forces. The shortcomings of capitalism began to emerge with maritime discoveries and the expansion of independent companies, impacting global trade and colonization.
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