B1 Dialog #23. Talking about capitalism in English

Today we are talking about capitalism in English. You can read the text in the PDF available from the link in the description. Share with us what do you think about this topic. And follow our channel!

How to work with the dialog?

  1. Listen to the dialogue and read the PDF transcript. Turn on subtitles if necessary.
  2. Listen to the dialogue again, repeating the questions and answers aloud (!!!).
  3. Come up with your own answers to the questions. Use PDF vocabulary if needed.
  4. Listen to the questions and answer them aloud (!!!), with a correct intonation, pronunciation and rhythm.
  5. Go back to the video from time to time and repeat the exercise.

Talking about capitalism in English

(1) What is capitalism?

As far as I understand it, it’s the economic system based on private properties and free market relationships.

(2) Is capitalism the best economic system for the world?

I don’t think so. Like everything in the world, capitalism has pros and cons.

(3) Who likes capitalism?

Many people like it. Many people don’t. I can’t say exactly what kind of people they are. Some reach ones I guess.

(4) Who suffers from capitalism?

Poor countries, mostly from Africa.

(5) Will the whole world be capitalist one day?

No. I think capitalism is getting worse and worse and it will be gone some day. But what is next, this is the question.

(6) What are the advantages of capitalism over communism?

Capitalism is simple. It allows people to live as well as they want, having fun, earning money and buying stuff as much as they can. It attracts people, it’s what people love.

(7) What is the free market?

I’m not that good at economics. I think it’s the market with free competition in business , when the government doesn‘t control anything too much.

(8) What is the difference between capitalism and greed?

It’s a hard question. I can’t compare these words actually. Capitalism is not necessarily associated with greed. It can be bad and can be good. It’s different. 

(9) What happens to the less intelligent or able under capitalism?

They usually live worse, which is not fair of course. That’s the problem of capitalism. People are socially very divided when living in capitalism. 

(10) If capitalism is so great, why are there many people living below the poverty line in capitalist countries?

That’s what I’m saying. It’s a big problem of capitalism. It’s the system which is not based on fairness. If someone lives very well – there is another who lives in poverty. And this man might be even smarter than the first one. He was just not so lucky and didn’t find himself in this system. 

Rinat ——> Anya

(1) Is capitalism a nice word?

For me it’s OK. The word as word. 

(2) Are there better alternatives to capitalism?

Socialism can be better of course, but people are too lazy to build it. It takes many years. It’s much more difficult to limit yourself to let other people live well. I don’t believe that people can do that.

(3) Does capitalism make the rich richer and the poor poorer?

I don’t know really. It probably does. It’s funny to read the news about some really rich person, that is getting richer when other people can’t make ends meet. It’s absolutely crazy to me. 

(4) Is it ethical for CEOs to get giant salaries?

No it’s unethical, but who cares?

(5) Aren’t capitalists people who exploit workers?

It’s a hard question. People are different, and capitalists are different as well. 

(6) Does capitalism destroy the environment?

Please stop asking me such provoking questions!))))) I think that humans destroy the environment. Capitalism has nothing to do with it. 

(7) Are giant, multinational corporations good for the world?

If they do a lot of good things for people, why not?

(8) What are the objectives of anti-capitalism activists?

I don’t know. Some changes I guess. But what kind of changes are they fighting for? That’s the question.

(9) Bill Gates has billions of dollars. Many people in New Orleans live below the poverty line. Is that capitalism?

Yes it is. Perfect example. But on another hand, Bill Gates created the biggest charity organisation. It is capitalism too.

(10) Are you a supporter of capitalism?

I am a supporter of common-sense. I can’t say that I support everything in capitalism. Something is good, something is bad. As always.