Transcription
Have you heard?
Capitalism sucks.
Capitalism sucks.
Why does it suck?
Capitalism will only lead to endless war, a dying planet, and economic catastrophe.
I know you know that capitalism isn't working.
They call capitalism immoral.
Capitalism at its core is the absolute pursuit of profit at all human, environmental, and social costs. That is not a redeemable system.
We need a whole new system. That's socialism.
Socialism. They say, "it's about taking away the billionaire's power to control our lives. It's time to never pay a doctor's bill again."
But wait, someone has to pay the doctor.
You drove a Hyundai to get here tonight. I drove an $80,000 BMW. That's my name.
Yes, capitalism can be ugly. It's selfish, sometimes ruthless. But nothing else works when it comes to creating better lives for people, including poor people.
Capitalism is a a moral system precisely because success comes from meeting the needs and wants of others.
Steve Forbes of Forbes magazine writes, "Capitalism will save us from stagnation and scarcity because it creates wealth."
Higher stand of living comes from trading with one another, buying and selling with one another. Everybody gets something from a transaction. You're just a rich guy who wants to protect his stuff.
I may have done well in life. I got a good start in life. But what I want is a world in which, as Abraham Lincoln put it, all people have a chance to improve their lot in life. All people. Because capitalism, unlike socialism, is voluntary. Transactions happen only if both buyer and seller think they gained something.
Like a pretzel.
We see this in every transaction. After I paid for this pretzel, we both said, "Thank you. Thank you."
Two thank yous because we both got what we wanted. He wanted the dollar more than he wanted the pretzel. I wanted the pretzel more than I wanted the dollar. Millions of these voluntary transactions create wealth.
Hey, thank you.
Thank you. The socialists attack billionaires, saying the rich take from workers because "we have a finite amount of money." You know, Jeff Bezos has what, a hundred billion dollars? Yeah, his wealth is making a lot of people poor.
But his wealth isn't making other people poor. That finite amount of money myth is the essential fallacy in the attack on capitalism. There isn't a finite amount of money because capitalism creates wealth. For thousands of years, everyone but nobility was poor. Then some countries tried capitalism, and wealth skyrocketed when governments allow private property and people are allowed to buy and sell things freely. Everyone is better off. The socialists don't understand these gains.
They say, "no one ever makes a billion dollars. You take a billion dollars."
Her ignorant audience applauds. But billionaires don't take a billion dollars from other people. When markets are free, they can only get rich by offering us something we think is better than what we had before.
Yes, Amazon's founder now has billions. But consumers didn't lose billions to him. Bezos got rich by inventing a way for us to shop efficiently and pay less. Capitalists we've never heard of created so much we now take for granted.
Made with real cracked wheat.
About a hundred years ago, this housewife noticed additives in store-bought bread made her son's asthma worse. So, she tried new recipes, and eventually she created modern whole wheat bread. She began selling her bread all over and grew her business into Peppidge Farm wheat bread. Now, what planner would have planned that? They win 41.
Socialist planners promise free stuff, but they don't deliver.
Hundreds of thousands of Venezuelans are fleeing their country every day.
Next time people tell you, "capitalism has let a lot of people down," remind them that it's the only system ever that's lifted people out of poverty.
I don't ask what is the cause of poverty. Everybody is born poor and ignorant. The question is, what factors allow some groups to get from that position? Tom Soul put it very well. He once asked, he asked the question: what is the difference between people today and people in the stone age? Same body, same planet, same appetites. Difference between them and us is we know more. And that's how you get a higher standard of living. Whether you experiment in the marketplace, whether you experiment in the laboratory, always trying to find new things. And that's why planning doesn't work, because if we already knew it, we'd already be doing it. Only capitalism leads to the experiments that create wealth. We like to experiment here at Staceil TV. So if you have a new idea you think we should try, please tell us in the comments below.