In Defense of Capitalism
HTML-код
- Опубликовано: 8 сен 2024
- Progressives attack capitalism because it lets some become very rich while others stay poor.
Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez call such a system “immoral.”
---------
Don't miss a single video from Stossel TV, sign up here: johnstossel.ac...
---------
Subscribe to my RUclips channel: / johnstossel
Like me on Facebook: / johnstossel
Follow me on Twitter: / johnstossel
---------
But Yaron Brook, chairman of the Ayn Rand Institute says the opposite is true.
He points out that the poor were much poorer before capitalism: “We have basically made about $2 a day for 100,000 years. In other words ... we could eat what we farmed and that was it,” Brook tells Stossel.
“And then something amazing happened about 250 years ago.”
Around that time, a few countries tried capitalism. For the first time, people were allowed to profit from private property. That changed everything.
Brook explains: “250 years ago we suddenly discovered the value of individual freedom. We suddenly discovered the value of leaving individuals free to think, to innovate, to produce without asking for permission, without getting the state to sign off on it and we call that the industrial revolution. We got much, much, much richer and it's hard to imagine how much richer we got ... electricity, running water, the things we all take for granted today, but we didn't have 150 years ago ... and yes, some people complain about inequality, but everybody got richer. Even the poor got richer.”
He adds: “We have more than doubled our life expectancy. We have dramatically increased the quality of our life and we are wealthier than anybody could have imagined.”
Stossel interjects: “Made possible by private property and capitalism -- which people hate."
“Every priest, every philosopher, every mother, has taught us that to be selfless is good,” replies Brook. “Doing for others is fine - but only if that’s what you want.
Brook, who bases his philosophy on the ideas of author Ayn Rand, adds: “doing for others is fine - but only if that’s what you want.
Stossel pushes back: “Lots of us see morality as helping other people.”
“Ayn Rand was never against charity,” Brooks says. “What she said was that was not the major virtue in life and that you should voluntarily have a choice about who you help and who you don't.”
He adds: “The key is that somebody else's need is not a moral claim against your life. Your life is yours.”
It's the land of opportunity.
Not the land of outcomes.
It is the land of opportunity, not the ‘land of give me free stuff’.
Not the land of 'same outcomes'. Such an idea is beyond ludicrous, pays literally zero attention to history, let alone the actual human condition. It would be quite a sight to see, trying to get professions aligned with population. 10 percent of govt employees are black women, yet they represent 6 percent of the population. Are we firing that many people? It would be tragically comic to watch..
The American Chauvinist great answer , tell that to the loony left
Hans your just lazy . This is the best nation on earth - always has always will - you are free to leave !! If you feel big government is the answer you a a pathetic moron
Hans your free to leave !! This country has created more wealth then any other country - is it perfect ! No !! But it allows people who are down to rise about like Ben Carson . This county is the best
Actual Capitalism is good. Legal Monopolies and Capitalizing on Capitalism (aka Income taxes) is not.
Cronyism..........
Indeed! People blame the market for the issues with oligarchy
What you mean to say is that government regulations that prevent entrance into certain markets is not good.
@@TheAlphapuck5280 Agreed. But, I was more referencing Medical Conglomerates and Pharmaceuticals, where their pricing is NOT regulated, but they ARE protected from anti-monopoly laws. Generally, I disagree with government regulation, but no company should benefit from having no responsibility to either.
In a Capitalist economy, monopolies are impossible.
I’m a millennial and I love capitalism!
Not really. We are just underrepresented because the others are so loud.
I'm conservative, and I'm right on the cusp between millennial and gen z, born in 1994.
I'm Nancy Pelosi and president Bush is bad.
Despiser Despised its generation X “baby boomers” that created entitled dumb millennials. Most of them where terrible parents and could never live up to the greatest generation so in return over parented and gave everything to their millennial children. Now we have a bunch of college dropouts who want free shit! Also those same people from generation x are the ones writing all of our terrible policies and pushing social justice and socialism on everyone! I would say it’s the millennials parents generation that has no brains. But It’s just easier for people to blame others for their problems. It doesn’t matter what generation you’re from but what values you have and how you contribute to your community.
@Fokadas sorry but capitalism works and socialism doesnt. Capitalism is what built this economy. I know it's hard for you to accept but it's the truth. The truth will set you free
Those marching and screaming for more socialism seldom give anything of their own to help their fellow man except their self righteous outrage. They want "someone else" to give. Someone else is "the rich". The rich are "anyone more successful than me". So Socialism is NOT altruistic...it is selfish. These people are demanding that "someone else" pick up the tab for the moral burden they themselves are unwilling to help carry.
AndTheCorrectAnswer Is- I'd be willing to bet the progressive guy on the street isn't as pro socialist because he thinks he's helping the poor people across town. More than likely he's thinking, hey, I'll save thousands when health care and college are "free". Wait til he get's his tax bill under a new regime.
AndTheCorrectAnswerIs BINGO!!
Bingo, SOMEONE SHOULD HELP!
But hell, not me, I am busy!
@@Columbus1152 Watching the outrage at a 18 year old girl getting her first paycheck and asking what is FICA and SS and Med, her yelling, this is Wrong. I did not sign up for this. Well, wonder if her political views changed?
"Everyone should pay more...but not me!" says the democratic socialist.
Im a millennial and a constitutionalist I truly believe in capitalism. Equal opportunity does not mean equal outcome nor should it.
Pure Capitalism dosen't provide equality of opportunity, it means those who are born with wealth can have a footfoward, it means that there are underclasses who are almost indentured, and it breeds financial systems don't invest in the real economy and cause economic crashes. Plus boom and busts, wage stagflation. And crucially pure capitalism does what socialism does it reduces people to numbers, I thought that as a constitutionalist you would believe in "the pursuit of happiness", isn't it clear that capitalism dosen't make people happy.
@@joeshimwell1269 So you believe that everyone should be equally miserable? I just smoked a Yale graduate with a rich daddy for a promotion at my work. I guess he didn't get the "privileged" memo...
If we want equal opportunity, we should raise the estate tax to 100%. Can't have entitled kids not needing to do work just because their parents were rich.
@Andrew567
That's good. When one person obtains too much wealth, it harms the system. Not being able to use such wealth would help keep the system in balance. Wages would most likely rise too.
Hey me too I’m starting my amazon seller business
Without any of my influence I found my teens (14 boy & 13 girl) watching your content separately. This is great. Thank you for your hard work. It is very appreciated.
You have 27 kids? Damn, man.
@@cerebros3671 He has been busy!
Thank God for capitalism. It's made my life better.
Hear, Hear! Except, I do hate cronyism which the left always makes capitalism out to be.
@@stevencooper4422 I agree. Get rid of cronyism
@Hans no the government had nothing to do with it. Government spent $20 trillion on welfare and poverty has only gotten better by 1.2%. Every innovation is thanks to the private sector that made everyone's lives, including people in poverty, better.
Why do you hate capitalism so much that you have the need to comment on every capitalism video of how much you despise it?
@@thefrugallibertarian7413 EXACTLY CORRECT! [Actually, there is a 1-step deeper foundational problem.] We MUST get rid of "crony profiteering". [Note: there is NO SUCH animal as "crony capitalism"; it is an oxymoron]. And how do we get rid of "crony profiteering"? That's easy: in a nation of SELF-GOVERNING citizens, it is up to us to select [vote into office] ONLY those politicians who rebuke crony profiteering. Just like it was for our Founders/Framers: it is up to us.
@@lights473 ,
I'll answer your question regarding "Hans". He hates capitalism because he was indoctrinated by the public school system, has never had a job and has no expenses because he lives in his mother's basement while eating her food and playing with the computer and iPhone that she provides for him. IOW, he is an immature troll who has nothing but time to waste.
Thank you Mr. Stossel for your work.
It is easy to become self-sufficient and detach yourself from society, you have to work for it and working is a serious problem for some people
@Hans you're detached from reality.
@Hans LOL says the "social democrat" that thinks the US is more capitalist than Nordic countries
@Hansmuch less regulated, low corporate taxes than the US for a long time, no national minimum wage, etc.
As far as journalism goes, the man is a living legend.
"We can no longer tolerate a system where the rich get richer and the poor get also richer."
Wario64I
Actually, we can, but only if the poor reduce their breeding drastically.
Overpopulation of those who consume from the system more than they contribute is the leading factor of why the poor stay poor.
@@RobertLeBlancPhoto Eugenetics
@@RobertLeBlancPhoto ✔👍
@@RobertLeBlancPhoto overpopulation is a management problem, nothing else. If prices are undistorted(distortion caused by market regulations, of course) there are several self correcting mechanisms to make sure we don't overuse resources.
@@RobertLeBlancPhoto developed countries don;t have an overpopulation problem. they actually have an under population problem.
"Nobody should have 3 houses (except me)." - Bernie Sanders
"More people should have 3 houses." - carpenter with 20yo pickup
"Nobody should have toilets made of solid gold (except me)." - Donald Trump
@@blueshattrick you're a real smart one aren't you... you do realise Trump WANTS MONEY, right? If Trump had a Gold Toilet, and saw you wanted one, he'd make one and try to sell it to you as soon as possible before you buy it from someone else. He he's not dumb enough to lose his business with the mindset of "only I should have this". He wants everyone to have everything they ask, because he knows he can sell it to them for your dollars. The only way this can become immoral is if he puts the price too high based off the cost he spent to make the material.
JMH so his money shouldn’t be his? Why can’t he spend HIS money on what HE wants?
Capitalism isn’t perfect but it’s the best system known to man.
Anarcho-syndicalism works pretty well.
@@acutechicken5798
...and which country fully adopted that system so we can stare in awe?
@@LiftOffLife
Rojava.
@@acutechicken5798
Lol.
TheAllPowerfulChicken Rojava is a backwater country in the Middle East. Not to mention, I swear they get arms and funding.
Capitalism is good just monopoly needs to be removed.
Monopoly really only worked in Heavy Industry where the barrier to entry was competition. With Software, what is the barrier to entry?
Monopolies result from government red tape making it extremely hard to compete.
When an organization becomes too big it’s in the interest of this organization to eliminate competition. That’s what capitalism promotes. Market is not free and fair. It’s not easy to create another Amazon or Walmart. That’s the fatal flaw of capitalism.
@@klppdc So how do you fix it permanently?
People who speak against the free market are the ones who don't pay attention to history. Thank you John fpr reinforcing the message!
If you actually look at history, capitalism when it was the most successful e.g. post war it was combined with sensible workers rights, rules and government investment. When free markets came in in the 1980's and 90's living standard went down, wages stagnated and wellbeing levels go down
The people that speak against the free market are those that are too lazy and unmotivated to exploit it. Different personalities and goals. But the person with dreams and visions shouldn't be relagated to a system of government or economics structured to accommodate those that choose to underachieve.
Well said!@@phattygoodness7347
Useful Idiots
@@joeshimwell1269 You're confusing Alan Greenspan's market manipulation and China engaging in mercantilism and being given permanent favored nation status with free markets.
Oh God I'm 4 seconds in and I already see the BBC talking about the "super rich". As a British citizen, I can safely say that I cannot wait to leave this country.
Stand up for ypur noble country! BRITONS NEVER EVER EVER WILL BE SLAVES!
@Despiser Despised As a true individualist, running like a pussy is what I'm best at, and I'd rather spend my life working and earning money than fighting a "civil war" against the left
@@TheBcoolGuy no matter where you are in the world, if you are working on someone else's clock, you are enslaved.
They hate the rich so much that the government wants to leave the union that helps them economically
C'mon over
It's immoral to be smarter than me
@Hans how is it ignorance?
@@iamslightlybetterthanyou2679 The argument of Socialism is about money ... the fact that you say that is about intelligence, hight, looks, weight, or anything but money is you showing your ignorance
@@iamslightlybetterthanyou2679 Good job misunderstanding my point and insult me because of that. Let me be clear Socialism just talk about money ... any criticism that is based on any other attribute is based on a misunderstanding of the theory
@@jhespinosa (social)ism is only about money?
@@iamslightlybetterthanyou2679 well is about who own the means of production. So yes it involves money
Thanks to Capitalism and usa. I could move out of poverty.
I always ask the left and sjws to define poverty. It's absolutely hilarious and really displays just how disconnected from reality they are.
@Crosshair I live in Canada
@Crosshair The corruption is still not that bad. Better than most of the world. Better than even many parts of Europe (read: eastern Europe, former USSR)
Crosshair i agree. corruption is everywhere. At least the level is different.
@Crosshair nah
I wish more people recognized the truth in the claims in this video.
Not claims, facts
@@shunsuikyoraku5428 i am on your side but he did not show facts and figures. All statements are claims unless backed by hard data.
Mike NYC so it’s not a fact that the poor got richer? You need to see the data for that? We’ve all seen it multiple times. It’s not a fact that a few countries tried capitalism and wealth increased? It’s not a fact that we all got much much richer? Just because he’s not citing every single thing he states doesn’t make it a claim and not a fact. In what world do we go around citing every fact we state?
@@shunsuikyoraku5428 You are missing the point of my comments, but it happens a lot.
As I said, I believe what they said to be true. I think its easier to convince socialists and communists when you can show them numbers. I live in NY, and there are many such mistaken people here. That is what I am talking about.
You are suggesting that I don't believe what they said. I do. I think it is obvious, as you do. Sadly, many people I like do not see this, thus my comments.
The Apollo guys had a saying, in god we trust, all others bring data. That is what I was referring to.
@@mikenyc1501 Don't worry about the people that keep coming up with NOT ALL WHATEVER IS LIKE THAT arguments. In general, if you work you will get paid. If you are not being paid, you are either volunteering and getting paid with good will or being ripped off. So the arguments against capitalism are the rare times that people get ripped off. But no one ever mentions how taxation is theft and thus robbing and ripping people off!
But but how else will Democrats get people to vote for them?!
madwtube this is true but BUT the Democrats and their pandering and promises of free shit is still by far worse!
The Democrats are a very serious threat to the continued existence of a free Nation. To note; the hate of anyone having free choice outside of Government... They hate Free speech, they hate Free markets, they hate.. they hate.. they hate
@madwtube yes except the boomers they are just democrats who claim to be republican
@madwtube sense
Ship them in from other countries.
I would prefer socialism if I was in the ruling party. Imagine being the only fat person in your country.
Socialism is the reason why latinos run away from their countries. They just wanna be rich by working.
The only fat person in his country is that one man called Nicolás Maduro in Venezuela
Socialism, Communism, Marxism & Atheism ARE ALL DOCTRINES Of SATAN The ANTI-Christ!***1 TIMOTHY 4:1-2 NOW The SPIRIT (DIVINE INTELLIGENCE Of The LORD GOD & TRUE JESUS CHRIST) SPEAKETH EXPRESSLY, THAT IN The LATTER TIMES (WE ARE NOW LIVING IN The LATTER TIMES Of THIS FINAL END TIME FIG TREE GENERATION) SOME SHALL DEPART FROM The FAITH (DEPART FROM The TRUE DOCTRINES Of The TRUE JESUS CHRIST & LORD GOD), GIVING HEED TO SEDUCING SPIRITS (SEDUCING MINDS & INTELLECTS), and DOCTRINES Of DEVILS (ESPECIALLY The DOCTRINES Of The DEVIL, SATAN The ANTI-Christ, REVELATION 12:9);**2, SPEAKING LIES IN HYPOCRISY; HAVING Their CONSCIENCE SEARED WITH a HOT IRON (Their CONSCIENCE MADE NUMB, DULL Of TRUE & RIGHTEOUS FEELINGS)!**REVELATION 12:9 -----, and SATAN, WHICH DECEIVETH The WHOLE WORLD: -----!***Too Bad That The Majority of This Evil World Choose To Be DECEIVED BY SATAN The ANTI-Christ, Rather Than Choose To Learn HOW NOT TO BE DECEIVED BY SATAN The ANTI-Christ, BECAUSE The TRUE JESUS CHRIST & LORD GOD TEACH Us HOW TO NOT BE DECEIVED IN The WHOLE WRITTEN HOLY BIBLE!***St. MARK 13:23 BUT TAKE Ye HEED (TAKE WISE WARNING): BEHOLD, I (TRUE JESUS CHRIST & LORD GOD) HAVE FORETOLD You ALL THINGS (FORETOLD Us ALL THINGS, PAST, PRESENT & FUTURE, IN The WHOLE WRITTEN WORD Of The LORD IN The HOLY BIBLE)!
THUS SAITH The LORD GOD & TRUE JESUS CHRIST:***DEUTERONOMY 27:17 CURSED BE He (ANY PERSON Of ANY AGE) THAT REMOVETH His NEIGHBOUR'S LANDMARK (BORDERS, BOUNDARY LINES, TERRITORY, COASTS, etc.)! And ALL The PEOPLE SHALL SAY, AMEN (Of The TRUTH)!***ACCORDING TO The LORD GOD & TRUE JESUS CHRIST, ILLEGAL ALIENS ARE CURSED, and SO ARE THOSE WHO DEFEND THEM!**The ILLEGAL ALIENS NEED TO TRUST IN & LOVE The LORD GOD & TRUE JESUS CHRIST & KEEP HIS WRITTEN ETERNAL HOLY LAWS & COMMANDMENTS, & CLEAN UP Their OWN NATIONS, NOT BRING Their CURSINGS TO "WE The PEOPLE Of The U.S.A.", FOR "IN GOD WE TRUST"!***St. JOHN 14:15 IF (CONDITIONAL) Ye LOVE ME (TRUE JESUS CHRIST & LORD GOD), KEEP (LEARN, DO & TEACH) MY COMMANDMENTS!
*cough* *cough* Kim Jong-un *cough*
"The trouble with socialism is that eventually you run out of other peoples money."
~Margaret Thatcher
The left hated her guts. which proves how great she was.
It’s awesome that we live in a country where the poor have cars and cellphones... you’ll even see homeless people with cellphones... that’s a rich country and it’s because of capitalism!
Wow you are glad that in the richest country the world has ever seen, you have rampant homelessness?
@@MrFwalk The majority of homeless people are there due to their own decisions and fuck ups in their life. Most of them are addicts.
You reap what you sow, their circumstances have very little to do with free markets.
But not healthcare.
Or education.
Or housing.
Right, who needs food and shelter when they already have a cellphone?
Capitalism: *exists*
Taxes: I’m about end this man’s whole career.
LMFAO yes
Comment of the week 🤣🤣🤣
so we shouldn't have taxes?
@@NuttyMongrel you're really fun at parties
Imagine a country without taxes
Hint _falling country_
I'm totally on board. Until monopolies, backed by lobbyists from big tech and pharma get their claws in government to make it impossible to compete. We need more anti-trust laws, which keeps people able to compete. They did that with the oil barons in the 1800s and worked good. Need that for tech, banks, and big health companies.
It is immoral and wrong, that uncle Bernie doesn't have a free lifetime supply, of pudding. It's an OUTRAGE!!!
"It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest." Adam Smith (c1776).
Daniel Foster My favorite quote!
@@HenryPaulThe3rd Yeah and still relevant today.
Daniel Foster 100%
Capitalism is waiting in line for an iPhone. Socialism is waiting in line for a loaf of bread.
and then you must split the bread equally with dozens of people you don't know cuz it's OUR bread, comrade!
Socialism is waiting in line for your bi-yearly iphone
The Economy is NOT a pie that is divided up into different size pieces, it is a bakery where wealth is produced.
There is NOT a finite amount of wealth!!!
Jf Mc
I love that! Never thought about it like that. I might use that in class sometime...
@@theadventuresoffluffytheca2904 Please do!! I think it is Very important that people understand this!!
The idea behind socialism is that people are more evil than good, and you have to force them to do the right thing collectively. It's moral to sacrifice one person to save two others, because the collective is always more important.
The idea behind free market capitalism is that people are more good than evil, and you're best off giving them as much freedom as they can handle.
Which of these ideas has led to better outcomes?
Free market hands down
Socialism has to be imposed at the barrel of a gun, capitalism does not. It's socialism that's the immoral system!
John, please check the option that allows us to add translated subtitles to your videos. We in Brazil (and any other place in the world) would benefit spreading this information to our individuals and you would benefit gaining more views. It's a win/win, capitalism at it's best.
God bless Brazil and it's people! Congrats on Bolsonaro, that guy is awesome!
Thank God for these logical shows. I hope the Iiberal socialists see them.
I also hope liberals/leftists see this but sadly some reject the truth even when it’s in front of them and plain to see.
They won't. Bernie's been chasing and screaming socialism his whole life, but living as a hypocritical capitalist. He can't even look in the mirror to see the truth.
@@fcmiller3 Why doesn't Congress have term limits? Bernie Sanders has been in Congress for nearly 30 years. Why should the Executive branch have term limits, but not the legislative. I understand the Judicial were not trying to run through a Justice every four to six years, besides they know the constitution better than anyone else.
@@Rob.N. Exactly!!
Liberal socialists? So like, people who advocate for the problems of capitalism and also advocate for socialism?
I love capitalism!!
I love communism.
@@acutechicken5798 F--k off commie. Go back to Russia
I've worked in NYC for the past 13 years, and very rarely have I heard workers say "Thank You" at the register.
Damn, I'm sorry to hear that. Here in NZ it's always said.
III.....haven't really paid that much attention, but I think almost all of the clerks I've encountered have said thank you, and I've bought things in ten states. Including NYC, NJ, TX, CA, and WA, so basically all over the country.
Guess we should switch to socialism then...
Andrew Brinkman
You've guessed wrong.
Rob L. Come to the south..lol.
(Czechia / Europe)
The only hospital in 50km radius is closing in our town because the state controlled insurance company "does not" have money. But i have to keep paying *MANDATORY* health insurance.
Retirement age is ever so increasing and there is talk my generation and younger might not even get any retirement and so we should invest in private retirement fund. But i have to keep paying *MANDATORY* social insurance.
Our police and politians are corrupt, roads are in catasrophical state, but i have to keep paying TAXES.
Fuck socialsm, i had enough. Socialism is a scam.
Worst part? People defend this crony system. I am working legaly for 10 years and for those years i gave to the state tens of thousands of Euros and got 5% back maybe less? Yet our goverment has budget deficit every single year. Where does our money go? I am so fucking angry right now.
Don't hurt yourself with Anger. Pray to the Lord for peace.
Realize that the system is often evil.
What you can do about it is stay healthy, work out!
unregulated capitalism is what led to the great depression, and in modern times a lot of wealth inequality, greed, and corruption comes from corporatism ie, big business in bed with big government. But so many of my peers just oversimply the issue and say that capitalism is the problem...
The great depression was caused by the smoot hawleytariffs act that basically ended foreihn trade for the us
John you dropped this precious video at the perfect time in my ongoing discussion/argument with my friend, and for that I say THANK YOU
Add this.
If you take an apple seed and plant it, eventually you will have an apple tree.
If you take all the seeds from one year of that apple tree and plant them, you will end up with an apple grove.
Where did all those apples come from? Did you steal those apples from people? Because you have so many apples does this mean other people have less apples?
Look up Tom Woods podcast for heaps of ammo for the argument with your friend.
Capitalism is good, unless it's crony capitalism.
Guys. The darn top 20th of the top 5th of the top 1/10 ot the 1% of the top 0.1%!
REEEEEEEEE
The tippy top! lol
The goddamn 0.0001% REEEEEEEEEEEE
He had to change it since he's in the 1%. He's such a hypocrite--how has even been in Congress all this time???
@@droptozro If you morons would listen to what he actually said...
Four legs good, two legs bad!
;-)
THIS IS THE MOST IMPORTANT MESSAGE WE NEED TO GET OUT RIGHT NOW!!!!
Very few people actually understand what Capitalism is and that there is NOT a finite amount of wealth. Someone being wealthy does not mean there is less for everyone else.
CAPITALISM makes...SOCIALISM takes! PERIOD!
And you also think that Socialism is about "free stuff" thank for broadcasting the fact that you do not know what Socialism is
@@jhespinosa I know EXACTLY what socialism is! The main difference between capitalism and socialism is the extent of government intervention in the economy. A capitalist economic system is characterized by private ownership of assets and business. A capitalist economy relies on free-markets to determine, price, incomes, wealth and distribution of goods.
Can you explain in what country where 100% socialism has succeeded please?
@@jhespinosa a little education for you ruclips.net/video/Fdfru9NHGvE/видео.html
@@vuarey The difference does not have anything to do with government, its about workers owning the means of production and Socialism do not deny the existence of price or markets. If you read Marx he define tree types of prices ... and two can be linked to the market. Your question is similar to criticizes democracy after Robespierre's reign of terror.
@@jhespinosa so may I ask...where has "socialism" succeeded?
"Markets don't give us perfect solutions but they do give us far better solutions than what we get when we attempt to manipulate markets"
- Prof. Antony Davies, Duquesne University
Markets are as perfect as anything and something can be in reality. The problem is every time a politician intervenes them and corrupts them...
Like I said before, Capitalism rocks and socialism sucks.
Yeah, under capitalism, only 9 million starve to death every year! Absolutely amazing.
@@acutechicken5798 every country that has tried socialism has failed, look at Venezuela, they can't even get enough toilet paper, the Scandinavian countries tried it and got rid of it. That is why all those foreigners are breaking their backs to get to the USA. Yeah that is amazing.
@@sprofitt777
Toilet paper is sold by private companies in Venezuela. That's a problem caused by capitalism.
@@acutechicken5798 get your facts straight, toilet paper and other basic neccesites are controlled by the socialist government of Venezuela. Like I said socialism has failed in every country that has tried it. Look it up.
@@sprofitt777
Ever heard of...
...Cuba?
Btw, capitalism almost always fails. In Libya, there are actual slave markets.
In America, half of Americans are poor, despite being the richest country on Earth.
The "why do we both say thank you" line REALLY hit home with me. I am a small business owner, and obviously am very pro- free market. However, I've always had this personal "hang-up" when it comes time to talk about money in the process of a sale. I can't really explain why, but I've always been basically embarrassed to talk about the price of either the product or service I'm providing. Yet, more often than not, even after parting with what I would consider a pretty good amount of money, the customers THANK me as much as I am thanking THEM for their business and their trust.
I sort of replayed every transaction I could remember and in every case, the customer was THANKING ME for taking their money!?!? It's because they perceived my service to be far more valuable than the dollars in their pocket. That I had given them something they couldn't obtain on their own or something that made their life better. The "wealth" I am providing them is coming either in the product I sell them which makes their life easier or the service of their existing product that they aren't capable of performing. Due to my training and experience, they are MORE than grateful to part with a few bucks in order to keep these products in working order. It's something they can't accomplish on their own.
I totally agree, “your pursuit of happiness is a virtue that makes the world better.” I’m a both Paramedic & an RN. I approved this message. 👍🇺🇸
In defense of exploitation.
How?
"I fear more of a broke politician than a rich civilian."-Anonymous
Sad you have to defend capitalism John, especially after a 100% fail rate of communism/socialism.
no such thing as “capitalism”-there’s the free market with freedom of exchange
Capitalism: It’s natural, logical, and works for the greater good. Keep it up Stossel!
Capitalism has declined lately tho less unionization and companies valuing investors over workers going through a internet revolution also has cause wealth inequality
As the son of an immigrant, when I was in elementary I learned in elementary that America is the Land of Opportunity.
And OH MY! HOW RIGHT YOU ARE, TEACHER!! I still remember to this day!!
GOD bless America!!!!🙏😭🙏
And I see in the near future that if we keep Our Country, America, then the rest of the Countries shall eventually follow.
Oh, America wake up because there are Enemies that has surrounded you, shrouded in darkness like COWARDS THEY ARE, they are to attack in a preemptive strike, they have not struck until the right time.
So please, America, wake up!! Remember, by the Grace of the LORD Jesus, we have become a mighty nation so please bring out the Gospel of the LORD Jesus Christ to show the Earth that our Strength come from the LORD.
Thank YOU, ❤❤LORD Jesus!!❤❤
I love how when stossel interviews someone, no matter his view, he presents the opposing view.
Thanks Adam Smith for Capitalism. I worked a job, saved money, started my own Business, ran it, and made myself successful.
Brook is great, but he does go too far sometimes. And Ayn Rand was the same. Charity is good, selflessness is good (as an attitude). Obviously pure selflessness means you die of starvation in a couple weeks. But that's not the idea. As Christ said, whoever loves his life will lose it, and whoever loses his life for my sake will gain it. For the son of man came not to BE served but to SERVE, and give his life as a ransom for many.
So yes, we should be against COMPULSORY charity (can it even be called charity)? But we should still be "loose-fingered" with our goods and wealth. And believe me, I'm a dyed-in-the-wool capitalist.
It's funny, from holding doors for people to stopping to help stranded motorists (once pushing two cars out of a flood after riding my bike 50 miles) I have never had a problem helping other people because I see it as in my interest and theirs. But woe unto the person who says I owe them a thing except to treat them fairly and honestly. As for capitalism, a lot of people don't know what it is which is why they hate it.... it is simply a way of living that sets people free from each other. I am proud to be living in a capitalist country -- and no, I am not a millionaire, not even close! But what is mine is mine by right, come by without forcing anyone to give it up to their detriment. That's capitalism for you.
They need to make a law that anybody who has a government job can't make a penny more from other sources. The only source of income they can have is the city job they have. That would eliminate corruption.
Taxes are not voluntary transactions
Capitalism works until it ends up exploiting one aspect too much, in our case the environment. without changing the way capitalism is exploiting our environment, there won’t be anymore resources to support the society capitalism built
For all those defending capitalism, I invite you to labor at my capitalist warehouse. I see capitalism as an abusive relationship: we get the shit kicked out of us and the corporation gives us a weekly check and some "bonus" occasionally.
So, it hasn't occurred to you you're free to find a job you like better?
Living on Social security alone can't be done. Is it not about time seniors receive a living wage? After all it is money the Government owes seniors.
ok i agree that capitalism is a flawed system it can be bad sometimes, but let's be realistic every system implemented since the dawn of time was bad, and capitalism is the best option we have currently
capitalism accounts for human nature the most, therefore it succeeds
It's not an either-or between capitalism and democratic socialism (not to be confused with social democracy!). They get along very well in other first-world countries. The problem in America is the balance, which is far too skewed toward capitalism. History, and the rest of the world, shows us that dialing back individual wealth and spreading the gains of capitalism more broadly is better for everyone and does no harm to the ambition or success of the capitalists.
Socialism: Let's All Starve Together!
Capitalism: let's starve 1/7 of our population and make jokes about socialism not being able to provide food!
@@acutechicken5798 These 50 million in the US being starved by capitalism, you assert, can you actually name say, one? Are you the same person claiming that 1 in 3 women are raped, per chance?
"it is within the best interests I'm a foreman in America not to get fired, it is within the best interest of a foreman in Russia not to get fired at" -Milton Friedman.
I love you JOHN STOSSEL and I LOVE AMERICA!
Capitalism isn't a problem, but corporatism is. I think people that dislike capitalism gets the two confused.
Well said
Even the poor have the entirety of human knowledge in their hands. Often for free. Cell phones are a blessing and a curse but look at what the bottom of society has access to. So much more than those in the past.
We stand on the shoulders of giants. Don't squander freedom.
As much as I appreciate capitalism, it has to be said that not all our wealth, better lifestyles, life expectancy are due to capitalism. On top of that, the problem with those countries employing capitalism are they aren't fully 100% onboard as well. There are situations whereby a transaction isn't "balanced" due to a lack of information/knowledge, legislation, cronyism, monopolistic practices as well as human fallacies. Of course, the pure and simple definition of capitalism sounded great but as of all system, it just doesn't happen. Of course I agree that due to our human natures, both communism and socialism are even bigger disasters if employed so capitalism is the best of them all but let's not paint capitalism to be that perfect as well.
Thanks for saying this. I personally disagree though about socialism. Worker co ops have done well, so I think that socialism can work. Communism is a futuristic goal, that is currently unobtainable, but I think we should work to it.
250 years ago it was Mercantilism and the rules were focused on helping the country and not allowing other countries to get stronger. The US became number 1 because Europe was in ruins after WW2 which is an example of Mercantilist theory being correct and the capitalist criticism that trade is not a zero sum game wrong, it is a spectrum, and it is much much closer to being a zero sum game when it comes to trade between nations. Trade and innovation is not exclusive to capitalism.
"improved the entire world" that is a bad thing, they outsourced industry to lesser countries which took away wealth and power from the US and allowed those previously lesser countries such as China to gain wealth and power, they now have the ability to destroy the US and kill every American because free trade fetishists think it is alright to outsource power to other countries to maximize profit. A mercantilist US would have never allowed China to get out of peasantry which would be a good thing for the US.
"More people have leisure time" Actually, medieval peasants had more leisure time than most workers in the US.
What I like best in this video, is the loud and clear message that the amount of wealth is not fixed, and that new wealth is created all the time. I have seen socialists try to argue that the economy is a zero sum game, and I enjoy destroying their flawed arguments.
This like ratio is godly 1 like per 10 views. You deserve every single one, John. You are making us smarter every day and you don't even ask for anything in return. You're a good man.
People aren't happy unless they are suffering, sacrificing or repenting from perceived sins. Religion, socialism, and environmentalism facilitate this need.
Great video John. Appreciate the work that you do.
However, there is some nuance to the promotion of Capitalism. Especially now, where we are seeing the ill-effects of the FIRE (finance, insurance, & real estate) industries taking over the once-dominant industrial capitalism and converting into finance capitalism. Without any regulation, unbridled finance capitalism tends to either a.) produce rent-seeking businesses, which offer little to no value in terms of technological or societal advancement (meaning something that can be passed on to the next generation), or b.) congregate itself into larger and larger oligarchies and monopolies. We are seeing this with big tech especially, who are in bed with our government and conducting secret closed door meetings without the interests of the common man at heart.
While this is in no means promoting socialistic/anarchic/communistic forms of economies, it is intended to provide critical critique of our current situation, one that is in great need of limited regulation that promotes valuable, tangible, and multi-generational benefits for all.
Issue with cities is they tax the residents Realestate too much.
Kudos to John Stossel! He is worth more to our civilization than 257 Harvard social science professors. This is still the essential conflict of ideas in the world today. So many of us are unaware of our own history. It is the emergence of free, open, liberal, capitalist, societies that is the foundation of the modern world.
I think they mean by WAGE AND TIME THEFT.
Stagnant wages for over 30 years is not good capitalism
Stagnant wages because capitalists exported industry and lobby to bring in immigrants and visa workers
@@sskoh 👍
Wealth of the 1% has sky rocketed since Reagan, while wages have remained stagnant in comparison. It’s not capitalism that’s failing it’s the wealthy who control the political process.
People shouldn't be allowed to attain so much wealth because anyone who works hard can wind up getting power over everyone else, no matter how corrupt they are or what horrible leaders they make. And actually the system is rigged so working hard doesn't help most people get very high up the hierarchy.
@@ChildrensRightsFirst947They do, since they provide jobs.
I'm a cheapskate. I always think I paid too much.
@Rawler94 Maybe we don't appreciate the work that went into making what we buy. Maybe we realize that some things keep getting better and less expensive so we don't want to pull the trigger on the purchase. TVs keep coming down in price.
Some point out that wages haven’t kept up with the standard of living. While that’s true to a point, our standard of living has also increased dramatically the past few decades. It’s now the norm for each teen and adult to have a smart phone, and many homes have multiple computers and tablets, people go on more vacations, and so on. Sometimes when people are feeling squeezed financially it’s because they’re trying to maintain a lifestyle they can’t afford.
What is the point of creating something if the world is just going to steal it from you and then tell you that you owed it to them.
You are Welcome You Privileged Greedy Scumbag!
@@superchuck3259 $100 says you don't give 2 cents of your earnings to anyone except yourself. Another $100 says you'll pay $20 for a mocha frappuccino venti Starbucks but walk past homeless people all the time. I was homeless at age 11 and lived in the streets for 8 long years eating out of trash cans and drinking out of lakes. Not one of you liberal scumbags ever stopped to ask me if I needed help. Today... I own several software companies and live in the UAE here in Abu Dhabi.. I'll give you $1000 if you can prove me wrong.. Estoppels.
@@yapandasoftware I agree with you, taxation is theft. Creating and then getting it taken away by decree and backed up by threat of force is wrong. I was Joking! I was being as absurd as I could, it is sarcasm. That said, I would not take your money. Please give $1,200 to Compassion International (100 for yes I give more than 2 cents, more like 10% of income, 100 cause I don't drink coffee nor visit Starbucks, and 1000 cause I proved you are wrong about me). My wife and I sponsored a little girl from age 6 to 20, she did not get pregnant as a teen and is productive person in poor Equador. Hilda turned out great, I prayed for her growing up. Now I have a new kiddo and he is growing up. We need to fight back with Joy and Mocking them. Their ideas are not to be feared, but mocked and made fun of. God Bless! Forgive the Liberals for they do not know what they are doing!
@@superchuck3259 Oh now you're making me feel like an asshole..you gotta put a "Just Joking" at the end so I know you're not a leftist...
Self employed here. Thanks to capitalism. Im in residential service's (gutters). Rich people pay you to work on their houses, now I'm rich. Stop whining and buy some ladders.
Stossel let me know when we find some Capitalism in the world. Hint: The USA is not the place to look.
I love capitalism. I have spent 36 years in USSR. Capitalism in Lithuania today means endless opportunities to me to my kids and my grandchildren! USSR was a nightmare believe me.
Just can’t believe you, americans, even discuss these issues....Long Live John Stossel!
Tell you what though ... those Atlas Shrugged movies sucked.
Solution? give the super rich something to spend their money on. what is that thing? space travel! imagine how many thousands of families will be supported by sending rich people to a month long vacation on mars or whatever! plus if they die, they left their money back on earth. problem solved!
In an ideal world, the world where human is genuinely selfless and good, socialism will works wonders. But, in this state of humanity, since everyone want the best for himself, capitalism is the only choice. This is what work best for us. It is a flawed system, but it's the best thing we can adopt right now. In order to work, socialism needs big government who can force their policy to other. The thing is, big and authoritarian government WILL BE corrupt, as demonstrated already by many failed socialist country then and now.
There is a difference between profiting from trade and profiting from property (i.e. land). The former is earned, the latter is unearned. Adam Smith understood that, but modern capitalists cannot comprehend it.
We have a mixed economy. The argument is on how much capitalism v how much socialism.
Here is a fact that people need to know. in 1980 the people living in abject poverty as defined by World Bank was 44%. At the time this was the lowest in history. But from 1980 to 2015 that number plunged to 9.6%. 2018 it dropped further to 8.3%.
This means from 1980 to 2018, while the world gained 3.174 billion people, the number in abject poverty went from almost 2 billion people to 633 million. 1.328 billion people were lifted out of abject poverty. Capitalism did this.
in 2009 1.8 billion people had entered what is defined as a world middle class. ($10 - $100 a day.) That is 26% of the world population, an amazing event in and of itself, but again 2018 we just hit half the world population in the world middle class. (Inflation adjusted to $11 - $110 a day.) This was predicted, but not this soon. Bookings now predicts that 5.6 billion people will be middle class or better by 2030. That's 68.8% of the estimated population. (The world population growth is slowing down, and except from 1980 to 1988 has been slowing down since 1969.)
There is no charity that could have done this. Socialism could not have done this, and didn't do this. You could have taken all the money from every rich person on earth and not made this happen. Capitalism did this and very few people are talking about it. We may see the end of abject poverty in our lifetime.
I went to college for biochemistry, couldn’t find work in my area of study, widened my search, became an engineer, started at 65k, within 3 years, I was making 90k.
Then Biden stole power, and inflation and interest rates destroyed my prospects of ever owning a home. Reckless spending is the problem.
Remember crony capitalism is a serious problem in the USA, it's why DC is one of the most expensive places in America
I am not really sold on the idea that somebody can be oppressing you just by having more than you.
5:24 "It's not so tough, to share your stuff." I didn't know he was still around.
Even the poor have iphones. Even the elite of the past would pay an arm and a leg for that kind of luxury.
That's right .. maybe we should teach these ungrateful rap loving ass holes a lesson!
20 year old Gen Z here, in full support of Capitalism!
Ayn Rand is the only American philosopher that has given people a philosophical defense for capitalism. No one else is able to do so.
Without her, capitalism is long and dead.
As a matter of fact, if it wasn't for her, the word capitalism would still be dirty today as it was back in the 50s and 60s.
Karl Marx is the only philosopher that has been been able to successfully defend socialism as a viable solution to "equalize" all people in a society. It only cost the murder of 60 million Russians to prove it. Communist was the dirty word that you speak about in the 50s, 60s, 70s, and 80s.
@@redpillpirate111 funny enough... It was Marx that defined capitalism correctly. He just hated what it did to humanity - made humans better!
I am reading a book called the overspent american by Juliet B. Scor. She says that we as consumers are spending too much. Which I would say is true, but she says that people look at the wealthiest Americans and try to be like them. Here is the problem, you do not need to have $100 pair of shoes, you don't need the $700k house. When you look at wealthy people buying these things it is because they worked hard for them and they earned it. I think that people who say the wealthy should not own that much money are jealous and setting their aspirations way too high! Like $50k is enough money to live off of for one person you don't need hundreds and thousands of dollars.
I’m 18 and I love capitalism, the constitution, and 🇺🇸. Not all young people are dumb.
The Bible teaches the pursuit of your own self-interest. Something Ayn Rand misunderstood.
I am 15 and i think capitalism without government is the best system
Not perfect but the best
tax cuts for rich companies are not ok
east and west Europe is a great example. east had a communist system and west had capitalism. Now look which side of Europe is doing better, i general.
CAPITAL- ISM ,is PROVABLY far more MORAL than Socialism and Communism, it .ca. build CHARECTER personal responsibility and a good work ethic , three attributes that the LEFT doesn't seem to understand.