Warren Buffett & Charlie Munger: Capitalism 

I'd always heard people would flock to Omaha to listen to these annual meetings but only after watching a few of these videos recently do I see why. They give great opinion on such a wide variety of topics. They are such genuine guys trying to help

Love the " don't wish for a million" ! Work for it. Teach kids at a young age, nothing will be handed it it to you in life more than likely, so be prepared to work!

Damn, such a basic question, and yet such a profound answer

A hopeless person getting a million dollar has rarely ended up making them happy

this question about capitalism is one i ask myself all the time. although it has given people so much, such as modern medicine, convenience through technology and higher standards of living, it does feel as though so many issues are falling through the cracks, such as externalities not being accounted for in the case of the environment, problems with producing at scale and social inequality. so even though this question was asked just as i was born, it feels as though questions about capitalism have always existed. i thought there was a lot of depth in warren's answer, where the market, even though seemingly flawed in ways, is usually able to provide to provide better societal outcomes, and hopefully as these externalities are captured by the market, there would be more for people to look forward to in the future. even if capitalism isn't perfect, its still the best system we have

Keep doing these videos, Thanks!

One of the best channels around! Keep the videos coming!

The question is - is there not a problem when kids only ambitions is to make money? I understand that Charlie and Warren missed that in that moment, but when watching a video it is quite clear.

Teachers are outside the marketplace. They are stuck in a socialized system.

This both great men are the pinnacle of wisdom on investing and life you better listen when they are speaking .

Thank you so much for these brilliant videos

What was the Forbes article that he was referring to?

Tyson sure could have used having Warren Buffett around :)

this is pure gold!

The market rewards scarcity. Teachers are not scarce. No one is entitled to rewards for their good deeds.

thank you for sharing such useful data. Greatly appreciated!

Ask those kids to watch Fred Rogers show !!

Good channel

This is awesome!

100 percent agreed with Buffett and Munger. I haven't heard anything that is illogical out of them.

One of the worlds richest men here saying he is all for taxation to help those whom are unacquainted. Gotta love the Oracle of Omaha.

2:21 - why inequality of outcome (not inequality of opportunity) has always existed

Capitalism is not a political system as such it's just the principle of free allocation of valuables like money and goods! We can put some restraints on this freedom and we do, but we should always remember that the alternative to freedom is not "a better world" but less freedom, and that these constraints on freedoms are made by people with political agendas as opposed to the free market reacting according to some apolitical and unknowable market mechanisms!

The main problem with inner city people is parents don't give a fuck about their kids, what can money do if your dad isn't in the picture and your mom neglects you.

I'm not rich but I'm working toward it, and I'm extremely thankful that the opportunity is there. I don't blame the rich just because I'm not yet rich. To not allow the rich to be rich would take the opportunity from me and anyone else who has a realistic goal of getting there.

Buffet is truly wise man.

Good information

" There are inequality but as long as we don't have unequal opportunities we are fine". WOW!!! Pretty much says get off your butt and stop blaming the system. I'm an immigrant myself and lived in EU too many years. USA is the BEST country to live in hands down. If you work hard enough you cam achieve anything you want.

I think it's uncomfortable for these two to admit that they have been disproportionately rewarded for doing nothing more than moving money around from one place to another. Nobody can say that this is a fair system, when you need people to sweep the streets, empty the dustbins, keep the electricity running, who get paid a tiny fraction of the amount that people do for moving money around from one place to another as investors.

Taxation is the core of the problem as it reinforces a devolving Govt-run system.

It pay better to entertain then being a teacher

4:13 🎲 Ovarian Lottery 🎰 …society should help the unlucky 6:04 👍 Charlie Munger: yes, but the social support system should be set up in such a way that it does not reward dishonesty.

😃

Another 12 minute BH shareholder question

he is the king .

We have the richest and most over fed poor people in the world.

Warren is talking about UBI system for bottom 20%

Do they advertise unhealthy food? That messes up people's health?

Besides that money alone is not going to make you happy

Maybe teachers don’t add value

First woman was typical -- "capitalism bad socialism good" baloney. Wishing for a million dollars is a childish answer to her question which she chose to bring forward to these capitalists. Sounded silly....it was.

👏 👏 👏

4:19 - based on rough calculation of what Warren Buffet net worth in 1996 multiply with $1 to tk 1 (Taka is Bangladeshi currency) conversion (based on present but it hasn't changed much) which is $1 = tk 83 . Makes him worth 1.34438684 trillion US$. I think he will make it in Bangladesh ;-) .

I've never heard such a wise answer to such such a stupid question

I would not want that woman teaching my kids

I would say that the bottom 20% would probably be better off here in the Netherlands than in the US seeing that we have a better social security system than the US, in which I do not feel any pride. So why we do not have a problem with mass migration from the US is probably due to people like Warren perpetuating the myth that the US is the world's heaven. :P I would agree though that in terms of opportunity you are probably better off in the US than in the Netherlands. We have a ruling class that claims to want to reduce rules that prevent the market from working but they always vote for more rules. Although I do have American friends who claim they would rather want to live over here.

Get a JOB

Munger>Buffet,hail our Republican king.

berksure have away free?

Wow! These two really missed the point of the question. Not about "...wishing for a million dollars"! Notice when the audience claps. Pure plutocratic glee.

Pls go away out of my life you make me poor .

did you sew my bill that american number .i just up drug and overdose am not do anything .

This was extremely boring. I have heard Milton Friedman give more insight in a sentence than these two could give me in 8 minutes. Not a single defense of capitalism as opposed to socialism. Really pathetic.