My daughter went to college and became very liberal. One summer she went to work as a waitress at a high end restaurant. By all feedback she was a favorite waitress of the regular diners and often received the largest tips. They begged her to go back when she was home for winter break but she refused because the restaurant pooled tips and paid them out equally to all the servers. She thought that was unfair and had a tough time reconciling the fact that she was a capitalist because of this attitude and it was ok to want the $ that she earned. She now is a professional and totally understands and accepts this.
I'm glad your daughter shook off the "plantation yoke" of socialism and learned the truth. It gives me hope that maybe more of this younger generation can wake up, open their eyes, and see the truth.
College teaches theory, and then they have to grow up and try and put those theories to work, and the workforce teaches what really happens. Theory is how government works as well. Their theory is that the government can equal the playing field and reality teaches us that the government tries to pick winners and losers and wastes money til we get fed up.
It's natural for younger kids to "want to help everyone", etc. Up through the college age, kids tend to have a liberal sense of values, often misguided by a lack of understanding of human nature and economics, etc. There is a famous saying.... "If You Are Not a Liberal at 25, You Have No Heart. If You Are Not a Conservative at 35 You Have No Brain". It's hard to understate just how true that saying is.
Dude id be pissed of my work took my tips for waitressing and gave them to someone else who’s customer service and work ethics are nowhere near as good as mine
So why did the video talk about how most of the products are made over seas? Exploiting people as they have no other ways to make money? And we lose more jobs and have more poverty? Why is the dollar falling and we have issues that socialist countries don’t have to the same level?
The problem now is that we're not really in a capitalist system we've slipped into an oligarchy. When you have the government bailing out businesses and saying they're too big to fail while allowing companies like alphabet Incorporated to become a Monopoly you have a big problem
Mmhm. Capitalism isn’t the problem. Government is…socialist and the like love to blame capitalism when it’s government involvement that is the issue. They can’t blame gov because it’s gov that runs socialism. They’re caught in a pickle lol
Yes, the government should not be bailing businesses out. But if Alphabet (or any other company) provides a good or service that people like so much that they aren't interested in any competitors, then what's wrong with them making that good or service? Past the main point there, but a few more things to think about ... Alphabet is nowhere near a monopoly on anything. Nor is there any time in history that a company has come close to a monopoly position in a given industry that was then able to raise their prices and gouge the market. As soon one tries (and even that is very rare), the available profit draws new competitors to that industry. Nor do monopolies, unless it's being enforced or subsidized by government action of one kind or another, last for long. The poster child for monopolies was the Standard Oil Trust. At one point it controlled over 90% of the world oil market. Rockefeller grabbed each and every low-hanging fruit on efficiency and technology that was there, and he grabbed them first. Yet during that time, the price of kerosine (the primary oil product made then) fell from 26 cents a gallon to 8 cents a gallon. By the time the anti-trust case was brought against it, his market share had already fallen to around 60%. He may have been the first to grab all those possibilities, but he couldn't keep other competitors from doing the same. So who was harmed by its temporary near monopoly? Not his customers. They saw their prices drop by over 2/3. Not even other competitors that were also willing to keep their profits low enough to compete with him. They were able to learn from what he had done to slash their costs as well.
I am not 100% in disagreement with you. But not many can create their own jobs like I did. Also, a small business cannot pay as much or provide as many benefits. Auto workers are actually paid more than they are really worth. Because of Mafia unions.
It is economic fascism, or cronyism. and you are correct. also we do not have international free trade either, we have mostly one sided trade with some nations abusing us with dumping and currency manipulation and shutting our goods out. Funny how these guys do not like forced charity but that is essentially what we are doing with our trade policies.
It is interesting how those who hate capitalism also hate monopolies, but think they can get what they want by creating/strengthening the most unbreakable monopoly of all, government.
Anyone who believes that capitalism is any different then Crony Capitalism I have some fiat currency to sell them! Capitalism always leads to socialism.
the gov is a tool of the corporate state. thats why they bought the government and everyone that works for it. the capitalists realized why play by rules when u can make then and ignore them while making sure there isnt competition. Why make a real vaccine when u can just pay the gov off to force a market? max profit! dead customers isnt a problem... max profit for the quarter.
@@themyrtlewoodshomestead9371 Capitalism does not always lead to socialism but government creep is a problem we haven't solved. Every nation supposedly running on a capitalist economy has invariably grown its government. I would like to see that reversed but my attempts to persuade others tend to fall on deaf ears. They adhere to their belief that "more government will fix it" with more fervor than the most religious people I know.
@@darthhodges You realize you are making the same argument that socialists make. Socialists say that socialism is a great system that is corrupted by man. You are saying that capitalism is a great system that is corrupted by man. So since this world is run by man no matter what we choose will be corrupted. How is what I’m saying controversial lol
There is no solution to government creep other than asserting your own liberty and autonomy all the time. Maybe "post politics" as Cody Wilson called it.
John, you're the only journalist who I know is for something and will play devil's advocate for the entire interview. You are truly a gem in the Lost world of journalism. You allow us to see the truth for ourselves. Do NOT stop! We need this!
Yep he's one of the few who know how to play dumb to get the answer to prove his point until he asks the wrong person who laughs at the foolishness of neoliberalism.
100% agree. Thomas Sowell's 'Basic Economics' and Ayn Rand's 'Atlas Shrugged' changed my thinking. Bastiat's 'The Law' and Hazlitt's 'Economics in One Lesson' are also great.
The real problem isn't the extreme minority of people who believe in Marxism... It's that you were taught the United States is a capitalist country and it's not. Centrally planned economies aren't capitalist. If you wanted to describe the USA economics. It's probably socialist plutocratic. Every facet of your life is strictly controlled. Including your Market forces.
@@12gmkk29 is that why the germans couldn't believe the americans didnt use horses during ww2? the german economy never had a chance against the american one
@@12gmkk29 That is exactly what the left is promoting now, national socialism... Otherwise they would trying to seize private companies, instead they are collaborating with them.
@@mustang607 Yes. It is armed robbery by voting for the party of slavery. The party that refused to save any Jews. I owned a small business for decades. I had to pay twice as much SS taxes. Just for being self-employed. But I am not getting twice as much back. Also, I worked more like 80 hours a week, not forty. Went months with no day off.
Corporate charity is BS, too. It's all posturing for DEI & CRA (Community Reinvestment Act). And now the banks are getting ready to pay their assessment covering for Gavin Newsome's failed banks in CA.
Love having 20 different types of cereal and toothpaste and then only two political parties and about 100 mega corporations that run the world economy, with their central bank supporters.
One day, when my son was about 8, we were getting ready to go over to a friend's house. He asked me if he *had* to share his Hot Wheels with a kid in the neighborhood there that was always taking and breaking other kids' stuff. It was one of those OMG, what do I say, moments. Almost every parent tells their kids that they have to share things. But I thought he was responsible enough to start making his own decisions on that. So I carefully told him that he did not *have* to share his toys with anyone if he didn't want to. They were his. Then I reminded him that others weren't likely to share their things with him if he didn't share with them. I left it at that. He never had a problem actually sharing with others before or since, but he realized that I would back him up on what was and wasn't his and that I trusted him enough for him to make his own decisions on it. That was very important.
Excuse me, "almost every parent tells their kids that they have to share things?" HAVE to? I've not observed this. Parents try to teach their kids to be kind but also be respectful and responsible. If other kids are not treating them or their toys with respect, then why would a parent say they HAVE TO share with them? My parents never said I had to share with someone who was going to take and destroy my toys. Of course they wanted me to share, when it was a kind thing to do, like when I had friends over who I could trust. I'm glad your son is making his own decisions. But I don't think that's ever been an expectation that kids share everything with anyone, no matter how they treat them. Whether we live in a monetary-market society or an egalitarian society, character does count and respect is earned, not given. Character counts. We all make mistakes but that doesn't mean we should give cake to a kid who licks the frosting off every other cupcake so that there is only one left.
@@coolioso808Maybe different parents, different times, or different cultures. Most parents I knew 30 years or so ago, were of the type to emphasize sharing with everyone, everywhere, and under all conditions, and that if someone didn't play fair, they should still share because it was somehow not the kid's fault if he turned out "wrong," but it was his parent's fault, or the schools' fault, or society's fault, or anyone other than the kid.
@@DianeMerriam alright, well I guess we just grew up in different communities. Because I'm over 30 now and all my time growing up, I've never seen parents who emphasize sharing with everyone, all the time, under all conditions even if they are not playing fair or respectfully. I've not seen that. I've seen parents encourage their kids to try and play nice with some kid who might not treat things very well, but if they consistently do that, they don't force their kids to share with someone who keeps disrespecting their toys and things. It's important to educate children to values that uphold a healthy community, sharing is one aspect, but critical thinking is another very important aspect and that is the ability to reason and take evidence into consideration. Kids can do that at a very young age. Critical thinking can be picked up in many ways, often by doing experiments, evaluating evidence, reflecting and trying something different to see if there are different results. I like to see a society where young people are educated on how to think, not what to think and they do it from a variety if experiences related to real life skills such as growing food, creating useful crafts, exploring and identifying things in nature, playing and art, performing music and listening to stories that help them question everything and explore the wonders of the world without the burden that our monetary society puts on them soon as they are about 18 years old. I believe One Small Town Can Change The World and if you know anything about Michael Tellinger and the Ubuntu Contributionism philosophy, you may, too.
@coolioso808 As I said, it was 30 years ago. Obviously, I did raise my son to think for himself and to make his own decisions at as young an age as I thought he was capable of doing so, even if it wasn't what other children were being taught by their own parents. Overall, I have been very happy with who he has grown up to be.
@@DianeMerriam Great, good for you, good for him. Hopefully he's open to being a contributor to building a better, sustainable society for his community, for humanity. If he comes across a town growing in cooperation around a Natural Law contributionist model, he might embrace such a development.
"Do not hide behind such superficialities as whether you should or should not give a dime to a beggar. That is not the issue. The issue is whether you do or do not have the right to exist without giving him that dime. " - Ayn Rand
This is the definition of clinical anti-social Darwinism; a refuge for stunted people who dislike being held to higher standards of decency and behavior than they hold for themselves.
@@astronautical1082 So you actually believe that Rand was wrong and that YOU do not have the right to exist without giving ME your money. Give me your address so I can come by and collect.
@@johnnynick3621 Does not follow from what was said. Rand was wrong as a matter of ethics, stunted development driven by selfish interest, and a radical ignorance to what the natural world can accommodate.
"Voluntary transactions create wealth." . If schools would just teach that concept and children would learn it along with all that it implies, the world would be a far, far better place than the hotbed of envious crap we have today.
In my 31+ years in American industry many of my coworkers thought I was independently wealthy. Why? Because I managed my money better than they did. Rather than going to McDonald’s or Dunkin’ Donuts for coffee, I brought my own from home. Rather than going to the food truck for breakfast I made my own at home. Rather than having Whoppers or Big Macs for lunch I brown bagged it. Rather than buying namebrand and convenience foods at the grocery store I bought store brands. Rather than going out to eat 2 , 3 , 4 nights a week , I cooked at home, and I’m rather good at it! I didn’t smoke 2 packs of cigarettes a day and consume a 6 pack of beer (or 2) every night. Because of my money management skills I was able to purchase new (or almost new) vehicles for my family rather than banged up P.O.S.s. I was able to take my family out to eat at decent restaurants 3 to 4 times a year. With season passes I was able to take my family to Disney World 5 to 6 times a year. But whenever my coworkers saw my “good fortune“ they’d say “WELL! WE KNOW WHO’S MAKIN’ ALL THE MONEY NOW!” A few even made the accusation that I was on “some secret company payroll” because there was no way I could have “all that” earning the same hourly wage they did.
I was at a job where my manager and her boyfriend were making bank in comparison to me and I was saving while they were depleting their owns savings. Some of the stuff was they would buy all of the super expensive organic food.....only to toss all of it since they never ended up cooking and just ordered in every meal. That doesn't include any of the other luxuries they bought when they could have done with a cheaper variant.
@@cp1cupcake I came from a family and a Bronx neighborhood full of lefty Socialists. With my family, it was always “Tax the rich! Take it from the rich! They got their money by lying, cheating, stealing, and standing on the backs of the poor! And if they didn’t, they were just plain lucky, and they inherited it!” When I worked the assembly line in a custom fire truck factory I told my brother what a great guy our company president was. I told my brother how our company president never looked down his nose at his workers and treated us like equals. My brother replied with “You know he’s a criminal , right?” I was stunned. “Why do you say he’s a criminal?” His answer was “Because there is no way he could’ve made it to that status in life without being dishonest!“ My family, not only hated wealthy people, they hated anyone who had even a LITTLE bit more than they had. If my father owned a Ford and our neighbor down the street owned a Buick, Dad was not happy! Heaven forbid they owned a Cadillac!
@@cp1cupcakeI’ve known management that was the same way. They made more but pissed it away. I was better off. People are generally not poor because of money. It’s because of bad decisions.
@@jryan9547 HAHAHA 🤣 AMEN! Funny story - One Thursday morning there was a power failure at my house. My alarm clock didn’t go off and I woke up late. I didn’t have time to shower, shave, brush my teeth, or eat breakfast. I barely made it to work on time. By 1st break I was starved. I went to the vending machines to try to get something to eat and realized I only had a $10 and $20 bill. I asked if anyone had change and one guy said “Wait a minute! What are you doing with a $10 bill on Thursday?! Other workers echoed his question. I felt like I was on trial. I didn’t dare show them the $20 bill still in my wallet. Luckily, the food truck arrived was able to get some breakfast. That was one of 4 times in my 31+ years in industry that I went to a food truck for a meal.
"You cannot bring about prosperity by discouraging thrift. You cannot establish sound security on borrowed money. You cannot keep out of trouble by spending more than you earn. " - Abraham Lincoln
Free country with justice and one that's not an oligarchy. I suppose this sort of falls into your point about justice but when you have the government claiming that businesses are too big to fail and people in the government getting rich off those businesses we have a big problem
Then it wouldn’t be capitalism. That’s not a caveat. That’s like saying chess only works as long as you aren’t playing it on a billiard table using colored balls that you hit with a long wooden stick. Of course chess won’t work when you aren’t playing chess, and capitalism won’t work when it isn’t capitalism.
Rule of law is essential too. Corporatism subverts that and makes capitalism look bad. Regulatory capture is another way to make things bad. For best results, keep government out of businesses and businesses out of government.
@@alchobum corporatism isn’t capitalism. Regulatory capture isn’t capitalism. Government “in” business and vice versa isn’t capitalism. They’re all “less than.” They may contain capitalistic aspects, but they pervert it into something else.
I did a study years ago comparing the spread of wealth in the US and the USSR. The difference between rich and poor was FIVE times larger... in the USSR.
@@homemadehistorian2590This was back in the 1980s. Thus, there was no internet to easily look things up on. However, there were sources of information which should be easier to find today. Go to any trusted statistical data source and look at the following things: - average income - minimum income - maximum income - median income - this is important because if it varies from the average it will tell you where the balance lies. Are more people poorer or richer than the average? Other factors can also provide interesting insights, such as: - average living area - population - number of cars (to be compared to population) Having found these factors for one country, then obtain them for the other. f you want to see how things are changing, simply look at this data, say, five years apart. I hope that helps.
@@homemadehistorian2590 - My mind was blown when I learned how many millionaires and even billionaires live in Russia. Business is very good for SOME people. (Read: not you.)
@@HomelessOnlineyeah... In modern Russia. From what I've seen the soviets were far more equal, with party officials only making 5 times more than dock workers. It was in the 80s with the liberal reforms of the economy where inequality began rising, and the modern oligarcha began showing themselves
"The purpose of morality is to teach you, not to suffer and die, but to enjoy yourself and live. Your life is Your Own, The good... Is to Live it." - Ayn Rand
We live in the age of envy. As Ayn Rand said "Hatred of the good for being the good, is the hallmark of the twentieth century. This is the enemy you are facing". If you believe in equality, you should believe that whatever someone else can achieve, that you could achieve it as well, with dedication, hard work and cooperation. Envy is a vice for a reason.
@@thegeneralist7527 lol I didn't say anything about freedom and Rand was just another narcissist that had ridiculous ideas to support their narcissism and bootlick the system
I think I more agree with libertarians close to my philosophy but people health care and education being too expensive or workplace accident libertarian movement ideal for the wealthy !
"It only stands to reason that where there's sacrifice, there's someone collecting the sacrificial offerings. Where there's service, there is someone being served. The man who speaks to you of sacrifice is speaking of slaves and masters, and intends to be the master." - Ayn Rand
Its absolutely LUDICROUS that we have to keep explaining this to people. So tired of it. All of this is so obvious to me at this points. It's sad the masses still don't understand how damn lucky they are, at least in the states. Thanks for doing what you do John.
Yes, I find it ludicrous that so many people lack the developmental maturity to understand exactly why greed is a symptom of developmental arrest, not achievement.
@@astronautical1082 While YOU call for the confiscation of wealth from those who are better than you at being productive, you also have the incredible audacity to call THEM greedy for not giving to YOU that which THEY have earned, and YOU have not. That is so pathetically irrational.
@@astronautical1082 We have read those words before. From Stalin. And other Communists. Communism killed 120 million people in the last 100 years. Communism and Nazism and Fascism. Communism mostly kills by starvation.
@@alwaysfreedom9354 Not exactly. The very same human animal fouls every social contract, it simply operates within the system at hand. Its characterized by greed, narcissism, and an inability to know the difference between selfish interest and self interest. Each system is susceptible to the narrow minded and dogged zeal of this "transactional animal".
Yaron Brook is brilliant. There is a clip of him lecturing a group of college students and he holds up a smart phone. He points out that everyone loves the smart phone. Then he says to imagine if the Government declared that only they can provide smart phones and to imagine how the phone would look and work. The phone would be bulkier, uglier, slower, less battery, less features, and yet somehow more expensive. He holds up his smart phone and says that none of the students would trust the Government with this, but you would trust them with education and health care, which are much more important. Edit: chanrged "iphone" to "smart phone" because of of apple hate I guess.
I've always been baffled at people allowing the government to educate their children. The same government that keeps corrupt politicians and cops in power. People may believe they think critically. But they're conditioned to take input from "authorities" (which can be manipulated) and thus come to false conclusions.
It's OK, I hate the forbidden fruit too. Avesl labor and no right to repair along with slowing my last forbidden fruit brand cultist phone down are just a few reasons Sam won't sing in my house either.
So why did the video talk about how most of the products are made over seas? Exploiting people as they have no other ways to make money? And we lose more jobs and have more poverty? Why is the dollar falling and we have issues that socialist countries don’t have to the same level? Why allow workers to be exploited? Why not allow them to own a percentage of the company they work for? Look at Victorian London 100% capitalist, yet look how many fell, were in poverty, starved, went to work houses got even more exploited for a bowl of soup a day. There was no social net and it never helped anyone. I use to be a capitalist until I started speaking to more intelligent people, well read people who showed me the issues with the capitalist model, with the right in general (like the Manoshpere, Tate, Peterson it’s all very incel and just full of lies.). And then telling other how they can and can’t identify… not all for freedom are we? Anyway there is many different forms of socialism that can fit into what society wants or needs. Europe have a higher life expectancy, less sick people, less bankruptcies (in the US the majority of bankruptcies are from medical bills.) They have long paid time off for de stressing for having kids (you know what actually keeps us going as a species.) So how can you say socialistic policies are bad?
@@kylethedalek Both socialism and capitalism have huge flaws. Every capitalist country becomes socialist and the model never works. That’s why so many countries are stuck in the middle.
With the shipping container - it's not as if nobody had the idea before - obviously, a child could see that taking bags of stuff off a ship by hand was not optimally efficient. What happened was that some rich guy took the time and energy and risk to figure out all the various hurdles preventing the switchover to shipping containers, and just push it through the obstacles.
Shipping containers were criticized for taking jobs from longshoremen. Criticism comes whenever innovation is introduced. Just look at AI. They're saying 40% of all workers will be impacted. Maybe fully replaced by a computer. They said the same thing 30 years ago when computers were becoming ubiquitous. Yet unemployment was at the lowest levels just 4 years ago. Society will adapt.
@@edwardbrown3721 That was one of many hurdles that the rich guy who first made shipping containers a reality had to deal with. It's a bit like electric cars. You can't sell them if there are no places to charge the cars.
The problem is entitlement, selfishness and greed. No economic system will work when entitlement, selfishness and greed are common among those in power.
One thing this amazing video didn't have time to cover is that our current system is *not* capitalism. Our system is a deadly mixture of statist controls and capitalism. In a fully free, laissez-faire system, actual criminals would face legal prosecution instead of being elected to second terms or given subsidies.
Everyone, please, do yourself a favour and read "The Anti-Capitalistic Mentality" by Mises. It's only like 100 page-ish long and really really easy to read, but also portrays the different positions against capitalism that we usually find in everyday life (movies, family, education). Great video too, John, it made me think of that book. Love the content and the battle against socialism.
"Reaching into one's own pocket to assist his fellow man is noble and worthy of praise. Reaching into another person's pocket to assist one's fellow man is despicable and worthy of condemnation." Walter Williams
But it isn’t noble to reach into one’s own pocket to assist one’s fellow man. You’ve no moral obligation to help others, even if not compelled by force of law, even if it’s voluntary. You’ve only got a moral obligation to live your best life if you choose to live. And if that means helping others along the way sometimes, then it’s good to help them, but only and specifically them. While helping other people along the way when it’s a loss to you is the opposite of noble, it’s wrong, and there’s no earthly justification for it at all.
@@oooshafiqooo Anyone who believes that capitalism is any different then Crony Capitalism I have some fiat currency to sell them! Capitalism leads to socialism. It has happened every single time
I loved the quote about “both parties at the end of a transaction say thank you”. Just sent that to both my children. That never happens under any other “ism”. Great stuff. Thanks for sharing.
Great video! I created a business and got rich. I also created 23 jobs and helped 20,000 customers in the process. I have been able to give my sister (who lives in a trailer) a car and help my parents get a house. Socialism is just sooooo crazy!
Ask HOW MANY TVs and cell phones they have. I'd be shocked if the answer was anything less than at least 2-3 of each. . I recall when we were younger in the 1970s we had one black and white 23 inch TV that we had to fiddle with the rabbit ears to get one of three available stations (CBS, NBC, ABC) to tune in... maybe we got PBS now and then. The images were small and somewhat blurry, and we watched what they chose to show us. . Now we have three screens all larger than 55 inches, full vibrant color, 4K resolution, connected to the internet, and able to stream movies from countless services on demand. I can watch anything I want any time I want. . Govt rules and regs didn't create that change. The private market did.
@@alchobum Yes and no, since most TVs are now connected to youtube, netflix, and other streaming platforms and its still more comfortable to watch them on a couch with a TV than on a chair with a monitor. It is especially true if there are multiple people watching.
This video should be mandatory in 1st grade. Kids are smart enough to understand this. The system is nature: I have something you want, and you have something I want. We agree to trade. Kids do this all the time at the lunch table. Then build on it as they grow older. By the time they hit college, most folks already have their sense of which economic system they like best, and sadly too much garbage gets in the way of them understanding the miracle that is capitalism.
@@sidwhiting665 So the agricultural and pharmaceutical industries have no capitalism problems lol it’s sad that adults can’t have honest conversations about this stuff.
@@omrikalinsky You realize you are making the same argument that socialists make. Socialists say that socialism is a great system that is corrupted by man. You are saying that capitalism is a great system that is corrupted by man. So since this world is run by man no matter what we choose will be corrupted. How is what I’m saying controversial lol
It's so annoying when you hear people say things like "they are to greedy to give us a pay rise" and things like that. While at the same time the state is increasing taxes.. why is one greedy evil boss not giving what they have and the other is not even talked about. I have been in negotiations before and the boss said that he could easily give the pay rise that was being asked if there was no payroll tax. The workers went on strike saying he was unreasonable and the company eventually went under.
I have a roof over my head, running water, land, two cars, enough money to feed & clothe my family & pay for everything else. But the media tells me some ppl have MORE than me. The Democrats tell me that's not fair. Gimme! Gimme! Gimme!!!
Just to be clear: capitalism itself does not generate wealth. It's just an economic/political model. It's people and countries that follow that model are free to generate wealth, which they do.
That's capitalism for ya, short term gains at the risk of long term suffering. Sure I can save money buying cheap stuff since it's made in China, but how many American workers became unemployed when "only profit matters" capitalists sent those jobs overseas...
@@Alex-12381 it wasn't capitalism, it was the globalist who used our taxes and regulations to make it almost impossible to open new factories in the U.S., they purposely drove them overseas so they could destroy the middle class. The goal is nationless globalism run by elites from Brussels. This had nothing to do with capitalism.
one who has watched you and has grown up watching you, I really do like when you talk about capitalism and the positive attributes. I still think that you would have been a great teacher
So why did the video talk about how most of the products are made over seas? Exploiting people as they have no other ways to make money? And we lose more jobs and have more poverty? Why is the dollar falling and we have issues that socialist countries don’t have to the same level? Why allow workers to be exploited? Why not allow them to own a percentage of the company they work for? Look at Victorian London 100% capitalist, yet look how many fell, were in poverty, starved, went to work houses got even more exploited for a bowl of soup a day. There was no social net and it never helped anyone. I use to be a capitalist until I started speaking to more intelligent people, well read people who showed me the issues with the capitalist model, with the right in general (like the Manoshpere, Tate, Peterson it’s all very incel and just full of lies.). And then telling other how they can and can’t identify… not all for freedom are we? Anyway there is many different forms of socialism that can fit into what society wants or needs. Europe have a higher life expectancy, less sick people, less bankruptcies (in the US the majority of bankruptcies are from medical bills.) They have long paid time off for de stressing for having kids (you know what actually keeps us going as a species.) So how can you say socialistic policies are bad?
Because of the fact that giving the government more power will only further facilitate Financial incentives of corporate lobbyists to use government power to prey on small businesses.
I like making my own choices in life. I'm not rich, but I give as much as I can within my means. No government has the right to tell me what is within my means or how I can spend my money. Once, a contractor told me that I really didn't need the work done when I requested an estimate. I replied I'd rather give the money to him for doing a job than give it to the government for doing who knows what. I get much more pleasure from improving my property than being taxed on it.
It isn't until you realize that when you are really good at something that you should be paid more than the person next to you whose doing the the same thing but not as good or efficient. Hey capitalism! I get it now!
Rich people who got rich by producing things and services of value have earned every penny and provided fantastic benefits to the rest of us. Rich people who got rich by selling government favors (which taxpayers pay for) to other rich people do not. The 2nd class have done fantastic harm. And we have far too many of those today. Rich people who decide that their wealth means they should rule the rest of us like kings are doing even more harm.
Envious and vindictive people would brutally punish people like Elon Musk from being rich, sending a strict message to all those who would follow in his footsteps.
The biggest challenges of capitalism today are corrupt corporations that are in cahoots with all levels of government, corporations that care more about the shareholders and the bottom line than their employees, and employees who are getting paid less and less and either have no benefits at all or are having their benefits reduced or completely eliminated. In short, corporations and government are getting a slice of the pie which is entirely skewed in their favor. Employees are getting poorer and poorer. Fix capitalism and we’ll all be better for it.
In the US, for free markets, you have to create, on average, $100 in economic value for every $5 you make in income. This works in reverse, too; if the government takes $5 from from someone, and if the government doesn't then create $100 in value by spending that $5 wisely, total societal economic value is diminished. Economic value is the "size of the pie". Redistributing wealth from those pulling the wagon to those riding in the wagon isn't a break-even proposition as most people seem to believe, there is a tremendous cost to society, 20 times the redistributed wealth. Of course there are many reasons societies choose to tax productive activities and spend on unproductive activities, but societies that ignore the 20x multiplier will eventually cook their golden goose.
As Thomas Sowell said, " Just what is your fair share of what someone else has worked for?" You are only responsible for YOU, what you decide you want to give to others should be TOTALLY voluntary, NOT dictated by the government. Today, people go to the government to legislate what they are TOO lazy to work for themselves. Remember : LAZINESS IS A DISEASE WHOSE WORST FEATURES ARE THAT IT IS NEITHER FATAL OR CURABLE.
I often use Bill Gates as an example. I ask the question "Did Bill Gates to more for the world before he quit Microsoft or after he quit and began is philanthropies?". Not that I am a fan of Mr. Gates but he is a great example of someone who changed the whole world and made every single person in it richer to someone who arguably does more harm than good being charitable.
My life is being wrecked by corrupt politicians that keep writing checks that we need to pay for with tax dollars or through inflation when the fed prints money to cover deficits. We need legislation that makes it illegal to run a deficit without a 80% vote in congress. We also need legislation to reign in the federal reserve and limit their capacity to provide loans, etc. or bailout companies.
I think you said it in the first minute and a half, for the first time people were allowed to profit off of private property. Yet again another so-called right that we have isn't that a privilege can be taken away just like that or controlled just like that
I worked for a tech school where my students worked in an internship program. The managers complained about having to pay $9.00/hr with no benefits to the interns even though they were changing the customers $120.00/hr for their labor. If a mistake was made that cost the company money, their pay was docked for that amount even though there was money set aside for that. If the manager didn’t use that money, he received it as a bonus. To cut overhead they also turned off the a/c even though it was shown to increase productivity. My students made more money working for fast food with no liabilities. That industry is constantly complaining about the lack of qualified employees.
"That industry is constantly complaining about the lack of qualified employees." . That's the free market at work. The company treated their employees (labor supply) poorly, so they had to scrape the bottom of the barrel to find the worst employees to do the work (labor demand). Given enough time, this business will fail as quality deteriorates and customers go elsewhere to a business that treats & pays their employees well enough to secure their best efforts. . Thank you for pointing out how capitalism works properly. This example is perfect!
Low and no pay internship is an example of predatory behaviour by people without a moral compass. It's not capitalism that does it. But under capitalism people often have alternatives. And as someone else pointed out, that predatory behavior leaves the company weaker and makes competitors stronger. Under socialism/communism, there is only one employer, yet no shortage of predatory bosses vying for reputation and power.
@@sidwhiting665 When I owned a jewelry store, I could not find a real watchmaker. I had to do all the work myself. 100 plus hours a week. Handle the customers during the day. Repair the watches and clocks at night. It did make it possible for me to retire very young. That and building my first and third homes with my own two hands. And paying cash for my second home, and my commercial building. I held the mortgage on it when I sold it. But he stopped paying me. Had to take it back. Reopened my business for a few years. Then sold the property again. Getting cash that time. I had about another ten years before I was old enough for Socialism Insecurity. I will never get back what I paid in.
Hmmm, fast food making way more money. What a great career. Inspiring. Isn't that amazing that workers are so exploited by the profit incentive of the company leaders that many people may have to accept working as a fast food worker for most of their life, barely scraping by and paying the bills, doing a job they hate that is also being automated away. Or MAYBE the system of monetary-market capitalism isn't set up to be sustainable, healthy or just. Maybe the system is the sickness and that's what we should focus on changing.
Mr. Brooks is exactly right about capitalism. Everyone knows this who knows anything about history or wealth. And yet almost every government in the world (especially in the west) is trying to destroy the prosperity brought on by capitalism.
I’m no economist but I have enough practical sense to know that people have to be rewarded for their work or they are less likely to keep doing it. If we are constantly working just to be forced to give money to others, then what incentive do we have to keep working? That’s why socialism fails at a basic level.
Capitalism may be the best system we have, but its still quite broken. I'd like to see a followup on "late stage capitalism," the inevitable rise of monopolies, and how corporate America avoids government intervention under the umbrellas of lowering prices or making life better for all.
Get rid of monopolies by ending patents and other government regulations that favor big corporations and are made by revolving door bureaucrats who come from those mega corporations. Government regulations almost always favor big corporations because not only do their people write and enforce them due to the revolving door but the corporations buy the politicians who enact them into the laws in the first place. Level the playing field for the small mom & pop home business we the people own and run by getting the government out of the business of running businesses through regulations. Big corporations always end up capturing government sooner or later so just stop giving the government so much power over us.
There's no such thing as late stage capitalism, monopolies are inherently unstable, not inevitable, and there are no problems with capitalism that aren't created or exacerbated by the government. Gaming the system is a problem, but the solution is more capitalism and less government.
Capitalism rigged by government power is the deeper issue. There needs to be some regulation, mostly to keep things decentralized, but otherwise competition and quality are necessary for a thriving economy.
Governments rigg the market by using regulations to pick winners and losers. All Regulations are based on corruption. The only way to restore capitalism is to abolish all regulations.
When Biden was running for president from his basement in 2020 he repeatedly stated that if he was elected prez, he would eliminate those tax loop holes for the rich. No tax loop holes for the rich have been eliminated after 3 years in office because congress writes the tax codes and congress will never give up their tax loop holes that allows public servants to become millionaires.
I would argue the main reason why the introduction of capitalism produced more wealth is simply because productivity increased markedly and this will always produce more wealth for all. The most important question is, why did productivity increase? The answer reveals the real power of capitalism over every other alternative. People suddenly had a personal incentive to work harder to earn more. The only time capitalism falters is when incentives are absent. Many companies fail to incentivize their workers sufficiently beyond the promise to remain employed. Financial incentives will always provide greater motivation compared to threats and intimidation.
So true, this is the answer to many of today's issues. Housing is unaffordable? Well it's currently not in the builder's interest to make a lot of houses that are affordable as they make less money than making a few generally unaffordable houses. Zoning too, the people with houses vote to keep out affordable housing to keep their home prices high and they don't care that others can't get one cause they already have theirs. To solve issues like these we'd need solutions that most or all people's incentives aligned to the same thing.
I always tell complainers, they want it all, but they arent willing to do the work. They arent willing to start and run their own company. Most of them dont evrn want to do middle management. They just want to have exactly the life they want with a simple front line job that they still complain about.
One exemple : i’m french and the richest man of the world was, during the seventeeth century, the King Louis XIV, the sun-king. Hé lived in à splendid palace, in Versailles, but... without electricity, toilets, water, baths, heating, télévision ... a simple worker today is much richer than Louis XIV ! Thanks to capitalism !!
You can’t compare lack of toilets back then to say poor people today are better off, you need to look at it relative to the time you live in. So even though he didn’t have running water (no one did), his position in society at the time was still at the top whereas poor people today are at the bottom
I don't know. I think Property Tax is actually a good idea. It's actually the ONLY tax that makes any sense to me. Government is there to provide services. Those services require capital. Who better to provide that capital than the ones who benefit from those services. Individuals and companies should pay property tax ONLY. No Income Tax, no Capital Gains Tax, no Sales Tax, no Gas Tax, etc. And we pay that Property Tax to the municipality in which the property is located. That municipality provides services (roads, schools, parks, etc.) and pays a portion of its income to the County. The County provides its services (Sheriff, prisons, etc.) and pays a portion of its income to the State. The State pays to the Feds. Money only flows UP the line.
The most important aspect of Capitalism (in my mind) is that it's voluntary. I hate to state the obvious, but people need things to live. We need food, we need water, we need shelter, etc. These thing MUST be produced and acquired somehow, that is a fact of life. Every economic system has it's methods for doing this, but Capitalism is the most flexible, and contains the most choice. You can choose a certain job. You can go to your preferred merchant. You can change your preferences whenever you like. There is certainly a cost to everything, but at least there is the option.
The way it is explained to me by others was they don't like capitalism (even though I do like it) because in order to become so rich like that you have to exploit something somewhere whether be it tax loopholes or labor laws or whatever it may kind of skirt the system to get where you are. Now quite frankly, I don't believe that because then by that logic EVERY billionaire did something heinous by that standard. There is also the idea that socialist/communist countries have economic equality and stuff like this compared to USA but from watching many videos and seeing people's opinions, I think that being poor in the United States is economically/financially better than being well to do in Communist Cuba or Socialist Venezuela etc.
I don't know how to make a cell phone - to pipe water into my house - to carry the waste away from my house - to construct things that make electricity - to make an air conditioner - to build a refrigerator - to produce the food that goes in it. I don't know how to build a car - or to refine oil into gas. I don't know how to turn cotton into fiber - or to turn that fiber into clothes. But I have all of these things - because I know how to convert my human energy into money - that I gladly trade for these things. People who fail to recognize these benefits are - themselves - evidence of the success of capitalism. The fact that they see these benefits as 'commonplace' shows how placated they have become with the fruits of the minds of others - with the endowments that come from living in a capitalist culture. They criticize capitalism because they are uncomfortable with the idea that someone is better at harnessing their human energy. That's just jealousy. They'll point to corruption within capitalism as evidence that capitalism itself is corrupt....but that's like blaming the DUI on the car. Imagine being so fortunate that you not only fail to see where your good fortune comes from - but blame the system that provides it to you - and furthermore - to consider your position virtuous. That's socialism.
Nicely done! Thanks! But the big problem is when large corporations get in bed with corrupt politicians. This is actually fascism, and not the free market. Socialism is horrible, but fascism is just as bad. We need to eliminate the power that politicians wield to sell to big corps. We need a separation of economy and state.
