How Crony Capitalism Corrupts the Free Market | David Stockman

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  • Опубликовано: 11 окт 2024

Комментарии • 164

  • @soapbxprod
    @soapbxprod 9 лет назад +7

    David Stockman is a freaking genius with the ethics of a philosopher-poet.
    I love you, Mr. Stockman (in an avuncular way)!
    And Lew Rockwell... ROCKS! Viva MISES! :)

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    thats like 1 hour and 15 minutes of video. Im impressed. The bad thing about good books is they tend to reference other good books, so reading never gives you a smaller pile to get through, it just gets bigger and bigger.

  • @Coffeeandasmoke
    @Coffeeandasmoke 12 лет назад +1

    Sharing this far and wide. Thanks.

  • @lengthyounarther
    @lengthyounarther 12 лет назад +1

    I realized it while I was powering through a book about a month ago. I was like "im gonna read this, and then this and finish an entire pile". But every couple pages would reference some other interesting sounding book, that I would add or buy right then. At that point I was like "this is a vicious circle...and I'll never esacape"

  • @onepiecefan74
    @onepiecefan74 12 лет назад

    You got me to watch your book recommendation videos. I've added many to my wish list =).

  • @MrSpaui
    @MrSpaui 12 лет назад

    Yes - you are right on and even Stockman alludes to that. Hopefully a constitutional ammendment that addresses the issue of the unelected 12 (after the financial mess that is created by the melttdown is cleaned up).

  • @sgtmcwallace
    @sgtmcwallace 12 лет назад +1

    I recommend the reason tv interview with him if you havent already seen it

  • @YunchuanZHAO
    @YunchuanZHAO 12 лет назад

    Awesome event!

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    I learned what a non sequiter was at least. Where I record a video has no bearing on any arguments I made. Nor does the type of camera I used. Those are specious arguments. I dont see you address any arguments I made in the video. None. Way to go champ. Your super convincing.

  • @pretorious700
    @pretorious700 12 лет назад

    wow, he gave one long run on sentence for 35 minutes and made complete sense, with little or no redundancy.

  • @hastingr
    @hastingr 12 лет назад

    Gold is only a preservation of wealth. Owning assets that produce things that people NEED is an investment. Examples: a repair shop, farm land, saw mill, a copper mine, timber forest, cement factory, oil well, fishing boat and things like that.

  • @ricochetVendetta
    @ricochetVendetta 12 лет назад

    I like the piano playing, reminds me of the Titanic scene where the fine classical band plays off on the deck at the end :p

  • @OverlordSolvent
    @OverlordSolvent 12 лет назад

    I'll look it up now. Thanks.

  • @boohoo746
    @boohoo746 12 лет назад

    Kevin, the problem is more fundamental that just universally enforcing the rule of law. You can easily have a law that says that nothing that a "crony" does is illegal - this is a law that *is* universally applicable to all people, without regard for whether the person is a crony or not.
    The issue then comes down a characterization of what a just law is. Bastiat has addressed this very issue in his little book "the law".

  • @fergus247
    @fergus247 12 лет назад

    those glasses are epic Lew!

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    Finally.....somebody understands me!

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    I always read books front to back, and I've read them all, plus many more. Lysander spooner....read that, the Market for Liberty by the Tanninhills, read that. Philipp Bagus's books on Iceland and the Euro, read those, Mark Thortons Book on Civil war economics read that. Hell I even read one of Ron Pauls books.

  • @jloredo08
    @jloredo08 12 лет назад

    I purchased savings bonds when I joined the military back in 2003 and deducted $1000.00 monthly installments. Last year when I had several medical bills to pay off I cashed them and found out how little I made off that investment. I actually made more from trading in my gold which I purchased in Bahrain during a deployment to the M. E! Luckily there are people like Peter Schiff and others out there giving sound financial advice to those who can still afford to buy gold or silver.

  • @LibertyorDeath86
    @LibertyorDeath86 10 лет назад +5

    Please check out this weekend event in Southern MN Aug 22-24th for Austrian Economists, Agorists, Lovers of Liberty, Free Markets, Sound Money, and Peace! agorafest.com/ and please follow us on Twitter at twitter.com/AgoraFest

  • @KittredgeRitter
    @KittredgeRitter 7 лет назад

    There's no better economic school of thought than the Austrian school of economics. No other system has ever been designed to provide so much fairness society.

  • @j4ck2234
    @j4ck2234 12 лет назад +1

    +Fascism is not a free market doctrine, that's the whole point of fascism;
    "All within the state, nothing outside the state, nothing against the state". Fascists were generally former socialists (Mussolini for example), it's called national SOCIALISM for a reason.
    +Ron Paul is a good man, I admire him very much.

  • @mersk100
    @mersk100 12 лет назад +1

    We have not had a free market for nearly 100 years

  • @Keimh3regPeh2uMeg
    @Keimh3regPeh2uMeg 11 лет назад

    26:55 Just amazing!

  • @onepiecefan74
    @onepiecefan74 12 лет назад

    If you're looking for another pile might I suggest Will Durant's Story of civilization. It's an 11 volumes, 10,000 page epic of the history of all civilization from the beginning tribes all the way up to napoleon. He's not strictly libertarian but points libertarian ideas. The state is a territorial monopoly of force or that property isn't a state construct rather historically the state was an reaction to seize property.

  • @peeweecx
    @peeweecx 11 лет назад

    Excellent

  • @64bytes
    @64bytes 12 лет назад

    I'm really confused here, I was under the impression lengthyounarther was an AnCap. Did someone hijack his account?

  • @BlackFlag2012a
    @BlackFlag2012a 11 лет назад

    No.
    Greed is you wanting more than what you have - it creates progress.
    Envy is the root of all evil.

  • @pretorious700
    @pretorious700 11 лет назад

    I refuse to argue any more with statist dolts who don't get it. Watch this vid, Stockman states it clearly and concisely.

  • @j4ck2234
    @j4ck2234 12 лет назад

    +Yes, unemployment is a government program, they call it minimum wage.

  • @onepiecefan74
    @onepiecefan74 12 лет назад

    Lol that's one of the truest statement I've ever heard.

  •  Год назад

    Well. its 2023 and Im wondering how much more time before the collapse of civilization

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    Not kidding read them all in college. Can you say the same?

  • @OverlordSolvent
    @OverlordSolvent 12 лет назад

    Why don't we see this guy more? He's brilliant.

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    Own them all and read them all. Avidly. Because Im an AnCap. Thought I'd promote my channel a bit with some reverse trolling. It was a bit of an experient and I'm pretty much concluding a failed one. If you had bothered to watch my video you'd have figured that out. Im a bit disapointed that didnt go any further than dismissing my location, but maybe thats forgivable given my subterfuge.

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    I was trolling when I said those things. It was obviously not one of my better ideas.

  • @LibertarianGranola
    @LibertarianGranola 12 лет назад

    Where corruption and coercion are present, there is no free market.

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    Fair enough, but I can honestly say this is hte only time I've done it. Just to see. I decideed it was a bad idea about an hour after I tried. You probably would like my videos. Lots of people do enjoy them. (if you mistrust me, judge the comments i get on them) I dont get add revinew so your not hurting me by not subbing. I think we are entitled to a little childishness form time to time, but I wont make that call for you.

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    that would make every statement a potential argument based entirely on 2nd parties referencing them. One could say "My name is X", if nobody objects I guess its not an argument. If at some point somebody asserts my name is actually Y, then my original statement becomes an argument regarless of any intentions I may or may not have had. Thats a silly definition of "argument".

  • @VictorKauffman
    @VictorKauffman 11 лет назад

    A truly stateless system is one in which there is no central authority and everyone would serve each other and thereby themselves through voluntary agreements or transactions or contracts. That kind of social order would be the ideal system benefiting everyone and encouraging peace and good will for all.

  • @RealityStar9
    @RealityStar9 11 лет назад +1

    Capitalism is private entities investing their productive property for profit/loss.
    The government giving tax money to private entities for investment, nulls the first two parts of the definition.
    The government bailing out those entities nulls the last part of the definition which nulls the entire definition and is no longer even remotely capitalism.

  • @norika2929
    @norika2929 12 лет назад

    If crony capitalism were the result of a free market, there wouldn't be countries like Singapore today, which is, compared to other countries, very free market oriented and has some of the biggest banks and corporations around, but is also famous for its low levels of corruption.

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    it wasnt random, but I see now it was ill concieved. I was thinking it might be an entertaining way to get people to watch my video. However it seems most people dismissed me as a fool rather than watch it. i suppose I cant blame them to much since I was deliberatly misleading. Oh well, I'll never try it again.

  • @tabletalk33
    @tabletalk33 8 лет назад +1

    If this man is right, we are screwed.

    • @Alexfortintv
      @Alexfortintv 8 лет назад +3

      We are screwed. Hold onto your bitcoins.

  • @VictorKauffman
    @VictorKauffman 11 лет назад

    You completely misunderstood what Julie said. She said "IF communism was implemented in a stateless system it would become capitalism." Here is why that is true: communism by its very nature cannot work without the use of brute force because human nature is such that we don't like to be coerced into anything.

  • @edisonoside
    @edisonoside 12 лет назад

    The elderly will be hit hardest :-( The young won't even let get started.

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    I made statements, not agruments in the comments. Saying "capitalism sucks" isnt an argument. Its a statement. In the same statement I said "my arguments are to be found in my video". Well now your saying you can use absurd non sequiters because I do also. The comments have no arguments, only statements. The arguments are in the video, which you are intent on dismissing on pointless grounds, indeed even on assumptions about my past, age, and schooling.

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    my arguments are in the video. I see no evidenct that you or he ever watched it, so I dont see that I've made any fallacious argments. All. Im hearing is Im wrong because Im in my early 20s, used a handheld camera and filmed in a closet. (and to be honest all thee of those characterazations are false on top of being fallacious). None of those are arguments. There is not even an attempt to address my argumenation which is found in the video.

  • @ArmednSafe
    @ArmednSafe 12 лет назад

    Lew, what did you do to loose weight? You look quite a bit thinner than you did a couple years ago.

  • @Kevin6805
    @Kevin6805 12 лет назад

    I think you're confusing the non-enforcement of 'existing' laws with a debate about what is a 'just' law (which is another matter entirely).
    A great many existing laws have been broken during this debacle but not prosecuted. There is no point in discussing what laws are 'just' or 'un-just' if the breaking of so many existing laws are being blatantly broken without fear of prosecution. As such the issue has absolutely nothing to do with what are just laws - but the non-enforcement of laws.

  • @edisonoside
    @edisonoside 12 лет назад

    Monologue Digitechnotained..Man-made = artificial choke...Traffic...To love without currency

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    Where did I make any arguments in comments? I''ve made statements and supplied arguments in a video. The response Im getting is that my arguments at fallacious. Which ones? All my arguments are in the video. The only comments I've seen on the videa are quibs about my camera type and filming location. Glad he didnt "refute" my hair style. Why dont you watch my vid and refute the first argument I make. You dont have to trouble yourself with the entire thing if your not up to it.

  • @batmanthe
    @batmanthe 12 лет назад

    lengthyounarther is a top notch Anarcho-capitalist / Austrian youtuber but a second rate troll lolz.

  • @justicepartyuk
    @justicepartyuk 11 лет назад

    greed is root of all evil

  • @BlackFlag2012a
    @BlackFlag2012a 11 лет назад

    Absolutely they are the same thing. Fascism and Socialism/Communism are brothers. Socialism controls and determines the price for the benefit of the State, where Fascism controls the choices of production to be in the benefit of the State.
    .
    Free market does exist - where ever voluntary trade exists. Yes, it is being marginalized and shrunk, but it still exists.
    Cronyism is not the final stage of capitalism - it is opposite of capitalism. Capitalism retreats with the retreat of the free market

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    I've read man economy and state, Human action, economics in one lesson, Crisis and Leviathan, Depression war and cold war, the law, Beaurocracy, Americas Great Depression, the creature for Jeklle Island, Conceieved in Liberty, A history of money and banking and Democracy the God that failed. To mention just a few. I know what Im talking about. Sosophistated arguments wont fit in comment sections. You probably know that. See my video and then tell me I need to read some more.

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    Saying my vids are rife with something implies you've watched them. But I see no evidence of that. What "ridiculous Misapprehensions" are you talking about? Im a free market capitalist who did a little ill concieved trolling. The video I suggested watching is about how free market monopoly is not possible and how government regulations are a form a regulatory capture used by corporations to restrict competition. Either you think thats ridiculous, or you never watched my video.

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    Well I know you didnt watch the video yet.

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    My age and typ of schooling are both non sequiters. I made a video packed with arguments and James only response is that since I used a handheld camera and fillmed it in "a closet" I must be wrong. Do you really consider that rigourous agumentation? Dismissing people based on some absurd cliched charaterzation is not persuasive. Why dont you watch it and not down some actual arguments. If your so smart and Im so dumb (hell you apparently know my entire history somehow) its should be easy.

  • @harris2898
    @harris2898 11 лет назад

    Really? So communism, a stateless system, benefits the state at the expense of the individual people? Yes makes sense.

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    move to somallia then

  • @VictorKauffman
    @VictorKauffman 11 лет назад

    They soon saw however that this kind of system could not sustain itself indefinitely. The apostle Paul say here: For even when we were with you, this we commanded you, that if any would not work, neither should he eat. (2 Thessalonians 3:10)

  • @Necr0forte
    @Necr0forte 12 лет назад

    Having watched your video "the Unstoppable Capitalist", I'm having a terrible time understanding why you'd make this comment. Based on that video, you seem to be a huge advocate of Capitalism. IDK why you just randomly decided to say that Capitalism has failed on this video.

  • @sinamirmahmoud7606
    @sinamirmahmoud7606 Год назад

    they gave him the Nobel prize 🤣🤣🤣

  • @Kevin6805
    @Kevin6805 12 лет назад

    You can add 'crony' to any political philosophy (e.g. crony communism as practised in the USSR) so the base philosophy itself is never the cause of 'crony'.
    The absence of enforcement of the rule of law for a select, chosen few occurs in all political forms and is the definition of 'crony' - not capitalism. That's what needs to be addressed. If it was possible to eliminate that tendency to not apply the rule of law for some (and it's a big 'if'), capitalism is better than all the others.

  • @harris2898
    @harris2898 11 лет назад

    No. What she said is that the individuals serve the state in communism (the state is supposed to be the people themselves, which would normaly mean that serving the state = serving the people, but in Julie's mind state and people even in a democratic society are two different things), at the expense of their own individual needs. Your comment simply makes no sence. What type of coercion exists in communism? Please explain.

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    not many are getting the fake part.

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    Ok so If Paul krugamans books are best sellars and have high quality printing and production value, they have more veracity than a old beat up copy of Human Action? I dont give a shit what my video "projects", I only care about arugments. I made many in the video. I have yet to seen any attempt to address any I made. Only dismissal based on nothing.

  • @Caseyw462
    @Caseyw462 8 лет назад +1

    Here is what i gather from the comments... If you promote voluntary exchange and sound money you are a fascist.

  • @harris2898
    @harris2898 11 лет назад

    covered by the vast majority of those that do work. You see in a communist society, the concept of "work" and "reward" is alot different than in a capitalist society. In communism you work so that the society (the people, including you) can survive and so that everyone will be able to live free and healthy lives. In capitalism, you work so that you can collect currency which you will later spend on investments and either fail and die of hunger or succeed and become madly rich.

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    See Batmanthes comment below.

  • @harris2898
    @harris2898 11 лет назад

    do nott mean that you work and sweat to make bread for ex. and you get nothing in return. No. You make the bread and by providing free bread to the society, you get free products from other active members of the society. thus, by working you make sure that everyone in the society, including you, will live a good and healthy life. There's NO type or rule or state to force you to work. You can do NOTHING to help your society and still get free products. The thing is though, that because of the >>

    • @Caseyw462
      @Caseyw462 8 лет назад

      I have made bread... now i want a boat - NO!... two boats.
      Hows does that work?

  • @whotookgamen
    @whotookgamen 12 лет назад

    But you see, in a free market capitalism there can be no such thing as government bailouts. Capitalism punishes failure and rewards success. The current system rewards failure. This is not capitalism. Saying it's a result of capitalism is like saying someone got sick because they ate a healthy diet and did some sport. Those who got stronger than most should have failed by all logic, but they were saved.

  • @halloranedward
    @halloranedward 12 лет назад

    (psst, "fascist" means socialist , not capitalist) D'oh !

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    Ha, read the comments on my video before you watch it. You'll see how wrong you are about me. After you read the the comments, I think you'll watch the video. It wont hurt you. If you do and you still think have nothing of value, let me know.

  • @lengthyounarther
    @lengthyounarther 12 лет назад

    Dont believe me, watch my video and tell me Im just claiming to have read them all.

  • @danzigstorer
    @danzigstorer 12 лет назад

    No, it's the result of free market capitalism. As some become stronger than others in that system, they form corporations and lobby government to work in their favor.

  • @pretorious700
    @pretorious700 12 лет назад

    Reading without comprehension is just staring, basically. Capitalism is the ONLY thing that has improved people's lives, government is a dead end, always has been, and always will be.

  • @harris2898
    @harris2898 11 лет назад

    "preparation" for communism the human societies have been through, the people should understand that by being a free loader you hurt the society and most of all you hurt yourself. If you can understand the true concept of the society you will need no state in order to work and be a n active member. I apologise if my comments are somewhat complicated and/or hard to understand, English is not my native language and explaining the concept of communism is not an easy thing to do...

  • @JeffCohn
    @JeffCohn 10 лет назад +1

    Funny how David couldn't imagine anyone worse than Bernanke? Is Yellen better?

    • @misesvonhazlitt8166
      @misesvonhazlitt8166 9 лет назад

      It was posted over 2 years ago. I don't know that Janet Yellen was the person to talk about at the time.

    • @sab2871
      @sab2871 9 лет назад

      Jeff Cohn Alan Greenspan coordinated the domestic-policy positions for Nixon during his 68 campaign. After winning he was acting as the chairman of the president's Council of Economic Advisers under Ford. From 81 to 83, during Carter's time, Greenspan chaired the bipartisan National Commission on Social Security Reform . Ofcourse we know his position under Reagan , Bush 1 , Clinton and GW , seems like a long trip for someone and curious affiliations ,can't serve different masters who are supposed to be cut from a different cloth while supposedly achieving the same targets ! Something smelled rotten in Denmark long ago going back to Wilson !

  • @j4ck2234
    @j4ck2234 12 лет назад

    This isn't quite the caricature of Libertarianism that you have been exposed to I imagine.

  • @Necr0forte
    @Necr0forte 12 лет назад

    Well you got me to watch it, and I actually enjoyed your commentary. You made a lot of good points and I learned a little bit from you, but I'm probably not going to watch you again for the simple fact that you have just shown yourself to be manipulative and misleading. IDK why you would do that, but I honestly don't feel right supporting you by giving your channel views and a subscription if you're going to do childish shit like this to get people to watch your videos. Sorry bud =/

  • @harris2898
    @harris2898 11 лет назад

    No. Not at all. The whole concept of communism is freedom (yes individual freedom). In order for communism to exist, just like Marx said, the human societies must be "prepaired" (via socialism) so that the people will be able to grasp the true meaning of communism and understand it's ways and goals. Let me explain; In communism the people produce the commodities whuch are free for everyone to take. In order for such a "bartering system" to work the people must understand that "free products" >>

    • @Caseyw462
      @Caseyw462 8 лет назад

      Do you know what scarcity means?

  • @j4ck2234
    @j4ck2234 12 лет назад

    You relalize that before there were these programs the people did not die like flies right? And this was back when the average income was like a 10th of what it is now. So that immediately disproves your assertion, please understand that. He's not 'keeping quiet' hes just not running for any office. You shouldn't swallow government propaganda like this, just read a history book about how people managed wellfare before the state got involved. Fascists are in favor of food stamps btw.

  • @LibertarianGranola
    @LibertarianGranola 12 лет назад

    "Government is based on democracy and the common good"
    After watching several of your videos, I'm surprised to hear you repeat such mindless propaganda.

  • @VictorKauffman
    @VictorKauffman 11 лет назад

    If you can find a few like minded friends who agree with your views you should try out your theory in real life and have a little communist community and see if it works. As long as everyone participates voluntarily I have no problem with it, but I don't see that as working long term no matter how industrious everyone is.

  • @kjakobsen
    @kjakobsen 12 лет назад

    That has to be, the lamest argument ever.