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- เผยแพร่เมื่อ 20 พ.ค. 2020
- Critics of free markets point to growing income inequality as evidence that capitalism only benefits the wealthy. But focusing too much on income inequality misses the more important point: market reforms of recent decades have lifted billions of people out of poverty. Whether in China, India, or many other nations, economic freedom benefits everyone.
To learn more, click here: www.policyed.org/human-prospe...
Read “Socialism, Capitalism, and Income” by Edward Lazear, available here: www.hoover.org/research/socia....
Watch “Edward Lazear on How to Reduce Income Inequality” on PolicyEd. Available here: www.policyed.org/policy-brief....
Read “Do the Rich Get All the Gains From Economic Growth?” by Russ Roberts via Medium. Available here: / do-the-rich-capture-al... .
Read “Income Inequality Isn’t the Problem” by David R. Henderson. Available here: www.hoover.org/research/incom....
Read “Inequality,” a Policy Insights essay on PolicyEd. Available here: www.policyed.org/policy-insig....
To learn more about socialism and free-market capitalism, click here: www.hoover.org/publications/s....
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It also helps if you relabel your homeless population as migrant workers.
💀
Greed destroys the whole concept of Markets being "free".
This is fascinating to listen to, very different from what I generally hear.
Tbh it’s less the economic system and more the morale of the people. We have very low morale and thus we’re massively divided on all ends. We’re divided because we keep pointing fingers rather than working together. And thus, the countries that force togetherness are better off. It sad but true.
So Russia is better off than us?
Will the free market decide if workers deserve sick leave during a pandemic
AverageBlonde “LIFE SUCKS PEOPLE DIE. SMART PEOPLE LOOK FOR SLOWER WAYS TO DIE” First of all, id like to applaud you for being in an economic situation where if you aren’t satisfied, you can quit your job. Over half of all Americans can’t do that. Good job! But...Im sorry you were raised in such a Darwin-reductionist way. Some members of the society you live in wish to make society BETTER for their offspring. If you believe that each generation should go though increasingly difficult trials and tribulations to refine the perfect human children, then congratulations, you are a cultural cannibal. Please don’t raise children.
China isn't a free market economy though. It's a do as the CCP says, or be destroyed, kind of economy.
Wtf do you think the bailout of 2008 is? Goverment intervention is goverment intervention.
The point the video is making is that the more China moved away from government control of the economy, the more successful it was.
Both those countries also have universal healthcare, economic mobility is a lot easier when you don't have to make the choice between your life and other necessities (i.e. insulin vs $$ in savings).
Also this (comparing India & China to the US) is literally like comparing a small child to an adult and saying "See! If you eat our food you'll grow quickly, too!" All small children grow quickly, and all economies implementing free market strategies grow, too.
The US economy is an adult, our growth rate and our problems are not the same. There's no reason for capitalism and socialism to be mutually exclusive. If most of the developed countries can do it, so can we, our people need 1)universal, affordable healthcare, 2) affordable, accessible housing, 3) a growing jobs market. So many people seem vested in making this an either or thing ... it's not and never was.
Pay attention to the money interests of organizations like this ($20 either the org itself or influential members within it are profiting off the shit show that's the US "healthcare system".
We're the richest economy in the world, we should start acting like it. To be clear that means people in the country stop dying because they can't fucking afford insulin.
We don’t even need universal healthcare, if we just stopped companies from over inflating the prices of certain chemicals and ingredients in medicine, hospitals wouldn’t have to pay so much and in turn charge you ridiculous fees.
Great Plains Knight Wouldn’t solve the problem of 30 million Americans not having healthcare.
I feel the same way about onions. But as long as I don't see them I'm alright.
I never see ''inequality'' as a bad thing. It's a nuetral thing. Inequality is a reward system that brings our societies forward.
Tell that to South Africa. Whites live as if the country was in Europe while blacks, (the majority) live as if the country really is in Africa. This has lead to hatred by both sides as blacks demand a bigger piece of the wealth and whites frightened and well greedy would rather take their money and move to another country.
What specific reforms are making these changes
Private property and free markets, the people lift themselves out of poverty.
@@daniellassander still very vague this video just dismisses the fact that people hoarding wealth isnt necessarily a bad thing
Lets ignore the state capitalism of china then
Hi there
Free markets are always good for everyone. That make us healthier, safer, and more financially secure. We are currently on paths to deregulate the US economy and finally have TRUE prosperity
Seeing a failed TikTok TH-cam channel commenting on political propaganda TH-cam video about the free market with the conviction of a PhD in macroeconomics is peak 2020 internet.
'If Socialists understood economics, they wouldn't be Socialists'
Hayek
Any Socialist who still believes in it must read Hayek (to begin with)
Helped me wake up to that childish, failure of a Utopia
Also Ludwig Von Misses is pivotal in explaining why absence & distortion of price signals & calculation creates inefficiency classic to centrally planned economies
ADD PART 3 ANGEL MUSIC
It's not about "focusing" on inequality "too much"--you tried it.
I agree that free markets are the good baseline for economies and economic practices, but while it could be said the poor did better than before in the free market, it doesn't mean they are still doing good. The 1800's were as free market as they got for example. The poor now had clothing and new technology they had never had before. However, they were also subject to horrible conditions, worse than they ever had before, and were being sold tainted and dangerous products. We're seeing a similar issue in China and India from what I understand. Just because the poor now have things like cheap phones and public transport or so doesn't mean that they're better off overall.
You don't want to strangle an economy with socialist practices, but you can't let a free market run unchecked. Regulation is still needed, and some degree of help is still necessary to keep the poor out of the worst of conditions.
Very well said.
Basically. we need Capitalism. But with PROPER regulations that work. and make sure the nation run not only very well, but also keeps the poor from going into the worst of conditions. Hell, If the higher ups, and the filthy rich could be held accountable for their crimes. (I do not hate all the rich people. Just those that get away with murder. Same on the higher ups.) And not be able to BRIBE their way out of jail/prison for their crimes. I bet our nation would be one step closer to a ideal nation.
There is not such thing as a perfect nation...But there is such a thing on a IDEAL nation. It can be achieved. But can it stay with us for so many years?
I'd like to see some real statistics and sources other than themselves.
STOP, just STOP. All people need to know is that they don't feel the REAL prosperity in their homes.
When they say prosperity they mean the rich is prospering, you know, the real owners of the free-markets.
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Those countries are building economies and true capitalism is good, crony capitalism not so much.
There’s no such thing as crony capitalism. Capitalism is the private ownership over the means of production. It does not matter how much state is involved. Also, how do you explain China’s rapid growth each year compared to the U.S. when they have an authoritarian government that plays a huge part in the economy?
Swell Son China adopted a halfway point in their economic practices over the last few decades. They have chosen to give the people more space Monetarily and Fiscally speaking instead of offering them a Political Voice, so no it’s not fake capitalism, but their Socialist centric government still adopts a lot of free market ideas. History 101 on Netflix (The How China Got So Big episode) does a perfect job of explaining this concept.
👎 Free market for the poor, socialism for the rich
They got the Chilean flag wrong, and also Chile is in mass protest against the government specifically against the fact that they can’t make economic reforms moving away from free market economics.
52 people don’t understand economics
Or don't agree with China being a free market economy.
Third comment!
Ya but free markets, collapses economy's every so many years as a formula to manage wealth out of common peoples hands
Not true, cronyism collapses the US economy every few years... good thing trump is president
That’s called the boom and bust cycle which is created by the federal reserve and central banks of counties. To be more specific the central banks set interest rates at artificial prices which messes with the allocated of scarce resources. The same way it doesn’t work when governments try to set prices on things like apples it never works when a government tries to set the interest rates. We need natural and true interest rates.
Collapses the economy sometimes, often due to cronyism and not free markets, also what about the economic collapse which happened in every single country on earth which tried on socialism or communism and they couldnt get it back up and running again.
Which is worse, prosperity most of the time with short term negative collapses, or a permanent economic collapse where you just suffer and you cant even do anything about it.
@@tiktokroundtheclock2650 and look at these bailout bill bro literally 80% go to the big corporations and it's very similar to that of the handling of the 2008 housing crisis
There are plenty of poor nations with free market systems.
Golden Rockefeller k?
Name one
Can you name a few of them?
@@tiktokroundtheclock2650 Guamtemala, El Salvador, Honduras
@@daniellassander India, Russia, Brazil, and many more. I only included three because I think you should research it yourself.
so why does our government and every other nation's gvts BORROW all their spendy ?
why are we under the domination of the CBD... central bank dynasty ????
what does the richest nation need to be made great again ?????
SoCiAlism iS wHeN tHe guBmiNt dOeS StUff
Talking about hoarding wealth, but... wtf do you think the rich do with all that money, anyway? You think they just sit on it and never spend it because... fuck poor people, or something? Newsflash, honey, they don't really care whether you're doing good or bad. And that's a good thing, for one simple reason.
They buy things, possibly extragavent, possibly mundane, but they buy things, services, experiences, what have you, but who do they buy it from? Sure, sometimes it's from other rich guys, but... you telling me they never shit? They need plumbers, blue-collar guys, people doing dirty jobs, skilled dirty jobs. They need food, so they need farmers, ranchers, fishermen, cooks. They need buildings, so contractors, construction workers.
Now... think if everyone was completely equal. Had the same amount and kinds of resources, no inequalities, no differences. There's no reason to interact with anyone, except maybe the one doling things out, who is now king, because he's the only one able to offer anything to people.
You mean the poor who will eventually be exploited for labor? Also you didn’t mention Cuba which I beleive socialism (although they have a authoritarian government) helped out workers and the poor giving them hospitals and making it where there are less starving people
If poor in India got it so good go do that.
Here we #eattherich.
Consider yourself warned.
Just remember that it’s the right wingers that own guns. Don’t be surprised when your revolution leads to your death and a new tyrant.
First Comment!
What about the industialized countries where salaries of medium class have stayed the same for about 40 years? Why dont you talk about the loosers of the globalization and capitalism instead of parysing a rooten model?
Just look at the USA 30 millón people without a job and Amazon CEO is on the way to becoming the first trillionary in the world
That’s because of Covid, not anything to do with the American economy. Before covid we had the lowest unemployment rate.
Great Plains Knight That’s capitalism though. An economic disaster hits all the time leaving the government to bail out the rich and screw over the poor.
Great Plains Knight I am not talking about unnemployement its just unequality, the covid crisis just shows the world the shitty system we have