Thomas Sowell and ReasonTv cancel out Richard Wolff on the fall of Detroit
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Thomas Sowell is an American economist and political commentator. He taught economics at Cornell University, the University of California, Los Angeles, and since 1980 at the Hoover Institution at Stanford University, where he is currently a Senior Fellow.
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I know Detroit very well. The guy from Detroit Mercy was totally right. Taxed to death in a shitty city causes people to move. We are seeing it now as people leave New York for Florida.
Thank you sir.
And a lot of crime at one time!
I am learning the ins-and-outs of real-estate because I am working to be a developer. Almost everywhere you go, from every person, on any type of real-estate related matters says to stay away from Detroit. Very high taxes, poor quality, and major government corruption. They don’t want people to develop, so they make it as hard as possible so it turns everyone away.
I think high taxes & poor public services are done on purpose to deflate asset bubbles and dismantle communities with
way to much power which become difficult to control and keep in order in these big cities
Same with California I hear. I left Canada in 1990 for that reason. It’s only a lot worse now.what you see there now with new cars and phones etc. Is all on credit.
Mr Sowell is America's preeminent intellectual. He is truly a American treasure. I own several of his books. As a black man, it is always refreshing to read and listen to real world thoughts.
His chapter on the economics of geography is nearly poetic.
Mr Wolff is America's preeminent intellectual. He is truly an American treasure. I have read all of his books. As a thinking man, it is always refreshing to read and listen to real world thoughts.
@@notabene7381 Mr. Wolff has turned you into a tiresome parrot.
Color baloney,
Inside, Dr. Sowell is brilliant, articulate, wise, highly educated and honest.
I was referring to myself as a black Christian conservative who appreciates Mr Sowell.
I’ve worked in Child Protective Services and as a probation officer for years. This is what I have experienced: Black young men who grew up in a home with their fathers, ALMOST NEVER appeared on my case load. Period. Take that observation and do with it what you will.
Sowell himself said prior to the welfare state, black families stayed together
Family structure is deliberately destroyed by government. It must be difficult to boss around people who are well adjusted and independent, especially if they’re making money.
Boundaries and accountability, pure and simple.
Black people but also all americans need strong families and good schools. If you dont have those, all you'll get is lost children who grow up in a chaotic envoirment and potentially turns to crime.
@@DustGamezX the idea of calling for racial equality is ridiculous. All people deserve equality. That there is even a campaign based on black people is racist, by the very definition of the word. Just shows how poor logic + reality tv has degraded the population.
In a world of idiocy, Thomas Sowell
is an oasis of intelligence and logic.
I would call him a tsunami of intelligence and logic.
Thomas Sowell is brilliant and wise. Our inner cities and our national budget would improve by following his advice.
Your post gets my likes !
How about my liberty and my right to do business freely? Yours too. Give us our individual liberty and our free enterprise system, (that free people built), back,---and the only thing that will be on welfare is government. My policy, with liberty and the free enterprises system given back to the citizens, is to have everybody who works for the state making minimum wage,---and we lower it as free maket opportunity rises. :)
"X is brilliant"
Sounds like a solid argument.
@@notabene7381
The argument is made by Sowell. The commenter appreciates the great man.
@@jimwerther Richard Wolff is brilliant and wise. Our inner cities and our national budget would improve by following his advice.
“The worst thing that can happen to a socialist is to have his country ruled by socialists who are not his friends.”
Austrian economist Ludwig von Mises
👍👍
is social market economy Socialist?
If yes ......thats why West Germany was succesful.........until Schröder
Where can I find the quote? It is simply just spot on.
😆
Because socialist leaders don't need to practice what they preach, they just need lower useful idiots socialists to do so.( to keep the hustle going) Ironic they want wealth and power while accusing Conservatives/Moderates. They do the same and worse. A pyramid scheme of the worst kind. Barry Madoff used the wealthy and middleclass, Socialists use the the poor.( and want to make us all poor) It would seem to me. Term limits needs to be enacted asap.
Born and razed in Detroit. This Wolff guy could NOT be more wrong. Gov/Taxes, hyper unions, and stupid short-term-profit managers at the auto industry is what killed Detroit.
1950s-1960s: income tax on the richest: over 90%.
Also 1950s-1960s: the golden age of the American middle class.
Born and raised in pontiac. You are absolutely correct.
@@notabene7381 because europe and east asia were bombed to hell.
@@notabene7381 no one payed those taxes they dodged it
@UA-cam Deleted my Other Account for Mean Comments literally everyone paid that much in tax... brother you are being LIED to. Richard Wolff actually spoke about that, i believe...
Thomas Sowell: An American Prophet. He should receive The Presidential Medal of Freedom and a Congressional Gold Medal. You have my nomination, sir.
Prophet? what an insult to such an intelligent man. People like you with such ignorant words tend to lead themselves and others astray with such poor words. Tom Sowell is so much more than a fake word "prophet".
@@robf4605
I've actually seen that word in dictionaries, pretty sure it's a _real_ word. js
@@sv3931 he isn't some super natural being. He uses logic along with understanding cause and effect. He is not a prophet on the other hand. I'm aware the word is real. The definition does not fit a man of intelligence.
Amen 🙏 all day long. Get er done Thomas Sowell. Yahoo
@@robf4605 the two are not mutually exclusive.
I moved into Detroit before realizing that there was a city income tax. I moved out as soon as my lease was up.
“All the money Henry Ford made was pumped back into his business” - mostly crap again!
This guy proposes no taxes - so just consider the absence of public institutions in this model - like public education public health, public roads, public broadcasting- etc wherein vested interests are not able to dominate. Govt is the ONLY institution capable of holding out $ vested interests from opportunistic invasion of these smaller community units. This guy is in effect saying... free marketeering is the solution- precisely why Detroit failed - corporate America invaded policy makers to prevent product modernisation - the competition from japan and germany raced passed as less relevant American auto companies shed jobs and fell behind
@@jeremygaynor2410 I'm sorry, but you don't have a clue. You think government holds out vested interests when in fact they change the rules to suit vested interests (especially unions in Dem cities). Why do you think the Federal government has a "prevailing wage" clause in all of their contracts? To placate unions....no other reason. We, as taxpayers, pay more than we need to for every government construction project BECAUSE government panders to vested interests.
@@jeremygaynor2410 what if I told you government can be its own vested interest, just as succeptible to being captured, bought off or monopolized. But often with fewer means for people to seek alternatives.
Anyways, what the professor said about Henry Ford was a bit confusing but I think he meant no Detroit city income tax back then.
It's really hard for me to understand what Cavanaugh hoped to gain with a city income tax. The professor mentioned central planning but didnt talk about the freeways that were being built at that time as a prime example. In fact many of the things hyped up in the promotional film that the Cavanugh footage was sourced, are now regarded as urban blunders.
@@lazabrkonja1637 God forbid those building stuff actually get a good wage.
@@Tetanoman When the government makes us overpay for what's built, it's forced wealth transfer. I'm all for people making a fair wage for their skill. That's why entertainers, athletes, etc....make what they do....they do things better than others. When we pay more for the same level of skill, that's not fair to taxpayers.
Dr. SOWEL is the reason I'm a constitutionalist. I read his book "Visions of the Anointed", in the 90s. Before that I really couldn't articulate my political beliefs. I also learned just because there's an R behind their names doesn't mean a whole lot.
Richard Wolff keeps stepping in what he's trying to sell us.
Rich wolf - even the guys name is slimy.
These people, like Wolf, need to go live what they profess to believe.
I hate these kind of comments.
@@sheilamacdougal4874 because you don't agree with it?
@@TheEnergizer94 Not at all. It's the abysmal level of the comments: dumb ad hominems and insults that don't even address, let alone refute, the arguments of the person they are attacking.
What happened to Detroit? Democrat politicians, high taxes, low work ethic and corruption happened to Detroit.
Detroit is a metaphor for what is about to happen to America
I doubt it maybe some parts but not as a country as a whole
@Blue collar Hero have faith in your nation
@@mistermood4164 impossible to have faith in the current administration. The only way you can have faith now is if you are crossing the southern border illegally, certainly not if you are law abiding American.
@@imjusthereforthecomments4920 there will be up and downs this administration does not define America, but its simply a chapter
@@mistermood4164 it does indeed define us at this moment in time, exactly as every administration has. History will not be kind regarding the changing landscape of this country, nor should it be. In truth I am thankful that I’m old and had the chance to live a wonderful life and when it’s over will be grateful not to live in the world as it is now.
Detroit was a victim of it's own success. The auto industry was dumping so much money into the surrounding areas that corruption and grift flourished. Local politics was completely overrun by people not qualified to run a Mcdonalds, let alone huge city. Higher positions were all filled with people on the grift and little to no interest in Detroit's long-term success. They ran the people who were paying for everything out of the city with the ridiculous taxes and then increased them even more to make up the difference. As the population diminished they refused to adapt the infrastructure that was set up for the larger population at huge expense, despite numerous calls by more sensible heads to close unneeded schools and the like. Detroit is actually a lesson in what happens when you bleed the capitalists till they leave, not what happens when capitialism is allowed to flourish.
When Detroit sold their extensive art collection to pay city workers you knew the end was at hand .
Sad because I think when black and white etc worked alongside each other. Sweating and fighting against ‘the man’, it promoted better race relations than we have today.
Also, we lost some of that cameraderie when we stopped all watching the same tv shows and discussing them together.
Many factors, but all is not yet lost. It is a duty to fight bigotry on every level.
It sounds like a description of the American way.
Did I miss something?
I grew up in Detroit and graduated from University of Detroit Mercy and Mr.Harry Veryser is spot on. Detroit is an expensive and miserable place to live. I left 22 years ago.
I left Detroit in 1976.
My dad's entire family abandoned Detroit after the race riots in the 60's I think? He always told me "the money left," and that was the beginning of the end. I'm sure there's more nuanced than that, but that has to have played a considerable role.
A civilization is as strong as its cities
Democrats have been in power in Detroit since early 60s
People follow the opportunities of a prosperous future. As soon as the money and jobs leave, the people who wanted that leave as well.
@@daltonwyant5154 no wonder the money left - people got fed up of their hard earned money being stolen by the government
All you really have to look at is the history of racial demographics in Detroit. It's really not that hard to figure out.
I think one of the best and probably real and truthful movies in the world will be a Thomas Sowel biopic played by Denzel Washington. Now that will be something to experience.
I Boycotted Hollywood years ago ,but I would totally break that boycott for that movie
Interesting that you equate reality with a position you agree with. John Stewart Mill is my hero.
AS GOOD A PERSON/ACTOR as Mr. Washington is,he can't hold a candle to Mr. SOWELL. Would most certainly pay Hollywood to see it this.
They would probably cast a Hispanic Lesbian to play Sowel.
Irrelevant
I love Sowell. He realistically looks at situations. He isn't afraid of the truth.
I wish Thomas Sowell would be president.
Wolf is such a con artist.... Peddling this intellectual BS.
God Bless Thomas Sowell!!
Richard Wolf cons college students out of money and brainwash them to think some how “capitalist” did this. Meanwhile the college’s endowment could pay for all of the colleges alumni’s college debt.
Inert blocks of wood... LOL. I would cherish the opportunity to have a cup of coffee with you Dr. Sowell. If I do not meet you in this life, hopefully in the next.
Amen to that!
In the 1970s , a wave of young liberals. Bill Clinton among them, destroyed the populist Democratic Party they had inherited from the New Dealers of the 1930s. The contours of this ideological fight were complex, but the gist was: Before the 70s, the Democrats were suspicious of big business. They used anti-monopoly policies to fight oligarchy and financial manipulation. Creating competition in open markets, breaking up concentrations of private power, and protecting labor and farmer rights were understood as the essence of ensuring that our commercial society was democratic and protected from big money.
Hes such a great mind. I wish he was political, I would vote for him 100%. He searches for truth and seems incorruptible.
@@darthvader5300 What? Bill Clinton wasn’t elected until 1992. The New Dealers policies have F’ed this country to this day. Social Security and later under President Johnson the Great Society policies have given us a structural deficit that will be impossible to fund in the future. No one in Congress nor any President has the cojones to tell the American public “NO”.
@@davidmc8475 You don't understand, you do not have to be president to do anything destructive, you can be a low level political operative destroying the foundations of an existing governmental system. Social security TAX DOLLARS once used to go to public utilities and technostructures (key criticial industries supporting these public utilities) and are regulated to protect them from WALL STREET that provides the social security checks and pensions and other benefits and to fit Wall Street tendency to abuse it's powers. Then in the years 1968-1969 somebody started bending the rules of diverting money away from these public utilities and technostructures (key criticial industries supporting these public utilities) GRADUALLY so as to remain unnotice to the highly speculative and legallized gambling casino called WALL STREET. And they started to gradually removing the PROTECTIVE TARIFFS against foreign dumping and unfair foreign trading practices. Like the old saying, money talks and politicians who are the regulators and policies enforces can be bought without anyone noticing anything wrong at all.
Dr Sowell is a massive Legend!!! I've learned a lot by listening to what he has to say!! Very cool Gentleman!!!
Wolff: a peddler in disproven ideas.
There is a good example of trickle down economics, but it didn't come from conservative economists, it came from Progressive intellectuals- the "War on Poverty". The theory was that the Federal Government would heavily tax productive people and then redistribute the money to rescue the poor. Trillions of dollars flooded into Washington and made a lot of politicians, bureaucrats, and lobbyists very, very rich- four of the five richest counties in the US aren't in Silicon Valley, they surround Washington, DC. After the Swamp took its enormous cut, some of it did trickle down to the poor.
You’re confused. Trickle down economics was the theory that healthy businesses would create jobs at all levels so in effect that growing
business would provide income through out the company. It is not taxes taken from the prosperous and redistributing to the “less fortunate” .That is from each according to his ability, to each according to his need. The War On Poverty was never the trickle down, only perhaps at it’s basest form.
What percent of those DC wealth came from stealing money from the treasury as opposed to think tanks, fake charities, lobbying firms, and campaign consultancies?
Thomas Sowell is a freaking Genius. I wish we could clone him.
Thomas Sowell is NOT a genius in the same way George Orwell was not a genius; geniuses lose touch with their fellow man and deal in worlds of theory whereas both Orwell and Sowell never lost touch with the material conditions of the world and it’s common people.
clone $0.50, and you get a dollar.
5 times now (1920's, 1960's, 1980's, 2000's, and late 2010's) taxes have been lowered and every time the results have been the same. More jobs, more investment, higher standard of living, rapidly growing economy, and increasing government revenue.
It was more than just lower taxes. Technology brought the roaring 20s. The mass production of goods, electricity, etc. The roaring twenties brought some of the most innovative periods in our history. If anything what needs to be learned is if you bring innovation that helps the country then prosperity is sure to occur. It brought the aircraft, automobiles, radio, refrigerators, washing machines,etc. The innovations of that era makes the innovations of today a joke. It literally changed the way we lived.
...and lower wages, increased poverty and increased military spending. How about spending less on war or wait isn't that what the US economy is based on primarily. What about the continuous outsourcing of manufacturing jobs to countries with little or no Labor laws, cheap labor more profits, a factor that shouldn't be ignored. By the way when you say "rapidly growing economy" is that using GDP as the main measurement? Because that would be a mistake.
@@aarondillon912 Agreed whole heartedly. This segment would lead some to believe that there is a single issue when in fact there is a plethora of issues contributing to the downfall.
The roaring twenties was partly brought about by fractional investing enabled by greedy stock market traders which once the sell offs began couldn’t be stopped and the market crashed. Massive propping of the economy by reckless federal spending will produce a similar situation minimize debt is the best option for survival having some material wealth food stocks defensive tools with adequate parts. Because of the multiplier tax tiers nothing is owned outright.
That just isn't true at all
I lived there through Detroit’s decline which began in the late 50’s as a result of corrupt unions in collaboration with local government. Together they destroyed free enterprise creating chaos causing people to flee by the 70’s.
Late 50's. When they got thier democrat mayor you mean
It amazes me how much Wolff doesnt account for in his template of reality.
He's a CCP fluffer, nothing more.
I didn’t forget to smash that like button Appreciate y’all Dr. Sowell all day long.
If it weren’t for Thomas Sowell TV I would never have been exposed to the idiocy of someone like Wolff or Chomsky. Not that I haven’t seen this thinking before. I saw it in spades when I returned to college in ‘92 this was the dominant thinking of those in the humanities. Fortunately I was 37 at the time, knew who I was and what I thought, and proved to be a royal pain in their sides as my classmates cringed with fear for what I was doing to my grades. I managed to graduate magna cum laude so my grades didn’t support their concerns.
Thank you sir.
Undoubtedly Thomas Sowell is the one person in the world I would really like to to meet more than anyone else alive today or any day. -(mind you I don't really want to meet today any dead person).
dont tell the dems that
@@cosuinofdeath Why? Are you implying that’s a strong Democrat voting base? How dare you!
Detroit is the crowning achievement for collectivists everywhere. No matter which collectivist was in charge of this government, including Coleman Young, theft and corruption ran everything. The 1967 riots were the dagger in the heart and soul of this city. When the Detroit Police started their squad 5 and squad 7, it only kept Detroit on life support. The plug should have been pulled then. Today, the cities remaining citizens should elect a mayor and council who will revoke its income tax, and make city income tax unconstitutional in it’s city charter.
I wish I got to know Dr. Sowell many years ago
Good point Friendly One. It seems that our government has been especially generous in rewarding themselves. Joe Biden's family is but one example.
Look to the government for the newest government contract they have the insider information but nobody else is allowed to have.
Richard Wolff always sounds to me like his target audience is a small class of 3rd graders.
His target is people whose brains haven't developed fully (under 25 ie high school and most college students.)
@@jbbrolic He's a pseudo-intellectual predator of the worst kind.
His tone of voice reminds me of how you would sound when telling a fairy tale to children .
@@dns7655 I like your description even better. It's like he thinks he is making a sudden revelation in the story at times and believes we will all react with awe and wonder. He says something like "the capitalist is trying to... make a profit." As though that was a hidden mystery, and as if it should be seen as obviously evil the moment he triumphantly reveals it.
You see that a lot with Marxists-the female leftist politicians sound like their entire audience is a pack of toddler whom they are legal guardians of. Especially up here in Canada.
Richard Wolff would fail economics 101 with that speech.
I would unfavourably judge a layman who tried to make the argument that economic development is a zero-sum game...for an Ivy League educated professor to say it beggars belief.
My faith in American higher education has been shaken.
First world countries are exponentially wealthier than anywhere was 200 years ago. Therefore third world countries have to be a bajillion times poorer than they were prior to the industrial revolution.
He is a communist, and therefore is a traitor, not only his nation but the whole of humanity! And we all know what to do with traitors!!!
It always amazes me to listen to an anti-capitalist who is a past and current beneficiary of capitalism
Basically every Liberal college student who walks around preaching against capitalism while enjoying their expensive Starbucks coffee and newest Apple Macbook.
@@ecompixel339 it’s in your face hypocrisy in action lol it’s obvious critical thinking and logic is not the bread and butter of the public school system
Sowell is a anti capitalist???? Since when?????
@@richardfadle5921 not sowell. The other dude.
They always are.
I had a company in Detroit and knew other business owners. The city government made it difficult and expensive to run a business. The corruption made it worse. It was NOT the fault of the car companies.
Whether Detroit had a booming auto industry or not, Detroit had in residential infrastructure, a stock of quality housing built up through generations of industrial prosperity, second to none. There is a miles deep band of high quality single family brick houses in Detroit stretching at least 14 miles from the Pointes in the east to to Redford in the west, that was probably unmatched anywhere else on earth. In the age of the automobile, there was no "job's" related reason for someone to choose to live in a rip-off trailer park in Chesterfield Township and drive 13 to 17 miles to work in Warren, rather than live in a brick house in Detroit and drive 3 miles to work, except quality of life issues and safety. And choosing to buy a tin box and pay lot rental in a sunbaked cornfield, rather than a brick bungalow on a tree lined street in the city of Detroit, tells you what you need to know about what was involved in weighing those options.
Forget the details. What strikes me is the difference in mature delivery. While the other are poised & calm, Wolff is clearly stuck in the firey emotional state of a teenager.
Wolff emotional just shows the cognitive hatred that communists have. They just hate
Detroit's demise is the results of competition, caused by pricing themselves out of the market.
It does not make capitalism a villain, it is the result of labor and management refusing to recognize where they were heading.
add in bad government with tax and regulations [State and local} grew up in the metro Detroit area, seen it all...
A Canadian city due north of Detroit with higher wages but less corruption thrived for years while corrupt Detroit declined. Corruption is "the invisible tax" that is part of the cost of living in a community.
@@friendlyone2706 Corruption isn't exactly unknown in Ontario. The real difference is that municipalities are clearly subordinate to the province; a municipality exists at the pleasure of the provincial government, and therefore mustn't run afoul of it. Another factor is that the Canadian Auto Workers union (now Unifor) had very different negotiating priorities ever since it broke away from the UAW in the 1980's, showing a greater willingness to allow for productivity gains during bargaining. They've also not put much effort into organizing the numerous parts manufacturers in Ontario, which I suspect has been part of their deal with the Big Three, keeping the overall cost of manufacturing in the province down. And, of course, our dollar has been historically lower than the USD, and they don't have to negotiate over health care. All of this has helped to keep the industry alive in the province, even if it only employs a fraction of the workers it once did.
@@Grimenoughtomaketherobotcry "showing a greater willingness to allow for productivity gains during bargaining." The reveals greater long-term thinking on the part of Canadian negotiators. Employer protection is an important part of employee protection, a fact to often denigrated.
Thank you for your thoughtful response.
Yes unions do have ego's.
Textile mills in NE didn't decline, they moved to cheaper labor. "Eveness" doesn't give us better, cheaper products, it gives you the same old junky product as you saw in the USSR.
@Omniscient_ Turnip No, it was poor design and corner cutting like the Ford Pinto. It was managerial arrogance and mid management bloat. I love the Fox News story you are spinning here. Honda and Toyota were making better designed cars. American Automakers relied to heavily on buy American.
@@Tetanoman you stated the problem... the guy above EXPLAINED the problem.... you are disagreeing with your own argument better stated
@@goodolearkygal5746 He blames union I blame management. Design is management not line workers.
Again a massive oversight just like the auto industry going to a communist nation and building their products- funny that gets overlooked
Why do I always think that Richard Wolff always gives overly simplified examples to justify his theories?
Is it because he's a Hack?
Detroit was Car City then Democrats took over. Now look at Detroit. My father had an opportunity to visit there and he said he would never return.
I'm Argentinean. I've always thought there was more to fall of Detroit apart from what MSM had been speaking of. I've always wanted to know about what the hell happened to that city.
Socialism. Ask any Venezuelan. Watch the rest of the USA follow. Sad.
@@goatface6602 Well, sadly the Extreme Left here is quite strong, and they are steering the wheel in the direction of Venezuela.
@@gregoriosamsa2722 here in South Africa the marxists are hell bent on doing the exact same, except that they are so thoroughly incompetent that their new level of stupid (even by communist standards) means it will take waaaay longer than planned ... hopefully we wake up in time
@Ryn Shane-Armstrong I must admit that I started to consider that possibility. Not saying you're right just yet. But it certainly makes no sense how incredibly often UA-cam is suggesting to me everything related to Sowell, considering that his views are supposed to be anti establishment or anti Globalism.
Marcos Panario look at whether ideas are actually right or wrong, not establishment or anti-establishment.
I found it interesting that Richard Wolff blamed the fall of Detroit solely on Capitalists leaving Detroit for more profitable areas, without taking *any* time to consider what kinds of factors may have made Detroit less profitable than other places -- and in stark contrast to someone who lived there, and saw what happened, as it happened.
Another aspect often looked over was the fact that a good portion of the industrial world was destroyed during WW2 and the United States had a monopoly on manufacturing until the world had time to recover.
Area bombing, a good way to give your own industries a competitive advantage. Providing you're out of range.
Would be an interesting shareholders meeting.
@@onastick2411
Lol!
@Michael DeHart
And then along came the 1960s' left, and decided that we were so wealthy that the time had come for redistribution. And that was the beginning of the end.
@@onastick2411 Should have went back and bombed Japan again to stop them making cars. LOL
Thomas YOU Always Help make it SIMPLER TO UNDERSTAND Thank you🤗👏🇺🇸
wolff the man who doesnt think stalins murders was that big of a deal
@MichaelKingsfordGray I think supporting the murdering of millions to be a bigger deal. Sorry my P's and Q's don't meet your standard of excellence. Your majesty.
Were
Love Thomas a very intelligent man. I always learn a bit more from listening.
So this is why my grandparents and my mother left Detroit in 1971,I'm glad I watched this video.
Wolff is nuts. Who is his audience?
Campus Revolutionaries.
Communist sympathizers the world over, and taking over America.
Wolff.
Old white warmongers
How easy it is to be a tenured professor, sit back and criticize all the evils of the free market - without having to come up with a superior system.
You're definitely joking right? Or are you just that completely ignorant?
@@jacoblehrer4198 All theoretical intellectuals ever do is just offer ideas. Capitalism is always better than Socialism ! l can say that, having been a low paid worker most of my life!
@@wesleygordon1645 - You'd be a lot more convincing if you came up with solid reasons to back up your assertion. Sorry, but merely claiming that you were a low paid worker just doesn't cut it! Why should anyone believe your claim?
How Easy it is to be a keyboard warrior, sit back and criticize all the evils of educated people with opinions you don't agree with... without having the education yourself because if you did you might be making a difference.... but here you are... an uneducated keyboard warrior.
BTW, Thomas Sowell has written many books and put his educated ideas out there for years.
I don't care if people don't believe me !Profit is not a dirty word but is essential for the expansion of business & job creation & a nations wealth! You don't get that in a full on socialist state! I know people from Russia & those from other country's that have worked there & they attest to the fact that despair, lack of incentive to work & poverty there is normal.This was over 30 years ago & l doubt if it has changed much since!
I am from Detroit, Michigan and how it has gone down by Corrupt Politicians, Unions Crime,etc...Great information as always Mr Sowell and Richard Wolff.
I was born and raised in Detroit and I can tell you that this analysis is accurate.
One observation I can make after hearing Wolf, and before hearing even a word from Sowell, is that Wolf totally leaves out the crucial fact that starting in the late sixties the terms of conducting business (regulations and unions) dramatically increased, which increased the costs for businesses and decreased profits.
Thomas Sowell has been conveying his message for decades. He testified for Clarence Thomas during his SCOTUS hearing. All of you are fortunate to hear his counsel.
I hope Sowell lives to 120 and in the meantime continues to pass on his wisdom to us.
Curious which 3 rivers he is referring to in Detroit?
Also...the year after 1967, the Tigers won the world series which helped unify the city, to a degree, post riots and civil unrest.
Growing up in the 70's and 80's in the Detroit suburbs, everyone I knew had parents or family that worked for the big 3 and once lived in the city. By the 80's the factories and families had largely moved out of the city to those same suburbs (and are still there). The saying, "last one out of Detroit, turn off the lights", was common to hear. The practice of driving your parents or grandparents back into the city to see what's left of the "old neighborhood" is quite common. The stories of how it used to be are simply hard to imagine... even with the photos of the families and communities that once existed. Burned out and vandalized churches and entire blocks of homes are still there for anyone to see.
Tigers won the world series in 1968
@@Kal-zo5ym also known as "the year after 1967"
Plenty of great UA-cam vids visually depicting Detroit's "then and now."
"Curious which 3 rivers he is referring to in Detroit?"
Wolff is likely be confusing Detroit with Pittsburgh -- which city actually does have 3 rivers (the Allegheny & the Monongahela meet to form the Ohio River).
@@rogerforsberg3910 Detroit is where it is because it's a good place to cross from the northern side of the Great Lakes system to the southern. The irony being that one gets to the north by going south across the Detroit River.
Capitalism doesn't "plan" anything, it reacts to market forces.
Progressive people assume everything is the result of a plan, so if they see something bad, they assume it is due to bad planning and they can make it better with a good plan. An example would be the health care “system.” There is no “system.” The system is not “broken.” There never was a system.
And than has to bailed out by taxpayers over and over and over again
Thank you, last year I had to take a microeconomics course and learned a term that will stick with me and that is: Dead weight loss. This is due to taxes implemented on the business owner. Leftist will never understand businesses will always make the consumer pay the tax.
Absolutely right!
@@m32797m I think you're describing crony capitalism - where money makes friends with politics. Ideally, companies would have to compete, transform, or die. Politics distorts this.
Wolff flyies around with his Ivy league education at 10,000 feet judging everything.
So what does Mr. Sowell do, he has an education from Harvard and Columbia University , is a career long academic author, and you like him. With all due respect , Mr. Sowell was mentored by Milton Friedman and William F. Buckley, the latter one of the leading segregationists this country has ever known.
@@nikita-dh5je but he started poor in Harlem and worked for his successes, debunking the "i am just a victim" rhetoric!
@@nikita-dh5je What's wrong with a little segregation????
@@quychang4471 Nothing, according to William F Buckley.
@@nikita-dh5je Also according to Biden , Cesar Chavez, and the radical Marxists.
The label "capitalist" is inappropriate to describe our entire free market system. Capitalists sure, but businessmen, workers, entrepreneurs, retailers, owners, managers, insurers, stockholders, these are all necessary and part of a free market system. What typically screws them up is government intervention. See Matt Ridley's book "the rational optimist" for a good description of this.
Detroit losses were caused by not responding to competition and a changing market.
If someone else manufactures what you need cheaper and better, the market is theirs.
In the 1970s , a wave of young liberals. Bill Clinton among them, destroyed the populist Democratic Party they had inherited from the New Dealers of the 1930s. The contours of this ideological fight were complex, but the gist was: Before the 70s, the Democrats were suspicious of big business. They used anti-monopoly policies to fight oligarchy and financial manipulation. Creating competition in open markets, breaking up concentrations of private power, and protecting labor and farmer rights were understood as the essence of ensuring that our commercial society was democratic and protected from big money.
Labor in Detroit in the 1970's was the most expensive in the world. That was actually a point of pride. Nobody with the highest costs of manufacturing anything will survive.
The definition of capitalism! Agreed. One word though sometimes cheaper is all that matters to some consumers, hence Walmart rise with poor quality goods.
Actually NO. Detroit and the auto industries demise was caused entirely by the Democratic Parties awful programs in every area-high taxes delivering an overblown bureaucracy, awful trade deals, over regulation, et al.
@@buckyoung4578 Crappy cars were not designed by Democrats. Detroit was a victim of the automakers refusing to alter their product shortcomings & to a lesser degree corrupt Union bosses. Sowell is basically Rand Paul with better hair but the same BS.
"Those on the Left often act as if human beings are just like inert blocks of wood. Or like chess pieces on a board that you can put wherever you want to carry out some grand design. But of course people react to these things." ~Thomas Sowell
My grandpa was born and raised in Detroit in the early 20th century. He enlisted in the Navy for WWII but the war ended when he was in bootcamp. He graduated from the University of Michigan with a degree in engineering and despite being an engineer, he never worked at any of the Big three.
He rarely spoke of his childhood but he would always say that the Detroit he grew up in was not the Detroit of today and that he made a conscious effort to get out ASAP as he saw the direction things were going there.
I've been to Detroit a few times to visit family and each time I've been amazed at what a total dump the Motor City was.
It's so bad in places that my cousin has pointed out neighborhoods that she says are so bad that even the police won't go to.
It's sad as you can see from history, and I grew up hearing firsthand accounts of, how great the potential of that place is, and bad policies along with poor leadership seem to be keeping it from being anything more than a shadow of its former greatness.
Thomas Sowell for President, and Roger Staubach for vice president. both are leaders. both are educated. both served in the military, both command respect. both have wisdom, discernment, and critical thinking, both speak with authority, clarity, and honesty, and both can "take the heat"....end of discussion.
And...the bloated union salaries had nothing to do with Detroit's fall??? Competition Richard is good for the consumer.
Thomas Sowell speaks the truth.
I have to wonder as to how much, if any, influence the Japanese car industry had as well as the UAW's constant demands for more, bigger and better, had on the slow demise of Detroit.
Our automakers were making junk and rust buckets by the early 70's. Hard to blame rank and file union members for that. What they put together, how and what wasn't their decision. Concessions from the UAW wouldn't change that. Their wages and pensions were funded on projected auto sales. A huge liability to have your pensions funded in only one single thing. The cars didn't sell, the automakers didn't get out front quick enough to change what they had to offer. The bills came due and doing business as usual, all around put them in the red. Japan did get a share of the market, nothing like it would later become. Was more of an annoyance at first.
@@larryspiller6633 American engineers who went overseas to tour the industries of Europe and Japan saw what is happening in the 1950s and early 1960s and warned the American automobile industries and steel industries that the nations ravaged by WW II are fast tracking in rebuilding their basic heavy industries with NEW REVOLUTIONARY TECHNOLOGIES.
They warned their fellow American engineers and industrialists not to rest on their laurels and past successes and start a series of massive heavy engineering innovation and renovation and reforms. BUT THEIR WARNINGS FELL ON DEAF EARS!
They warned the U.S Automobile industry that they better start diversifying into small and fuel efficient cars while maintaining American high safety standards and quality standards AND THEY WERE IGNORED! Then came the 1974 OPEC Oil Shock and the result only the Japanese and Germans has the right cars and at the right time and at the right price AND IT HIT THE LOCAL DOMESTIC U.S CAR MANUFACTURING INDUSTRY VERY HARD. The same thing happened to the steel industries.
The Germans developed the Basic Oxygen Furnace that can turn pig iron into high quality ultra-cheap steel in 30 to 40 minutes, while the Japanese and the Germans in the early 1970s are experimenting and using continous casting and at the same time using the direct-indirect electric plasma arc metallization process that can convert a mixture of concentrated iron ore power, coke powder, and limestone into metallized pellets.
A few Japanese and German industries, small and virtually ignored by everybody, are quietly using the direct-indirect electric plasma arc metallization process and electric arc furnace and BOP furnace to metallize raw iron ore into metallic iron nuggets which are melted in an electric arc furnace with limestone as a flux added and this where the MIRACLE happens.
The electric arc furnace is only used to reduced the charge into a molten state of extremely low vicousity which can flow like water and once that is achieved in 2 to 3 hours the electric arc furnace is tilted to pour it into a channel which directs it into a receving BOP furnace and additional fluxes and alloying ingredients are added and is turned into high quality and ultra-cheap high strenght low alloy steels in 30 to 40 minutes.
NOW HOW CAN YOU BEAT THAT!?
@@darthvader5300 Exactly. Hubris hurts.
@@larryspiller6633 how cant you blame rank and file union members? Union workers are crappy workers. Worst workers there are.
@@matthewtrauger3683 Laziest workers, at the very least, because they don't have to compete. Unions are basically a system of participation trophies.
Detroit's story is very simple. Detroit boomed because the automotive industry was centered there. So all that was needed to make cars cheaply was in a few miles radius. Which lowered production costs and enhanced rapid development and manufacturing. Thus more money from the car industry could be made there than anywhere else.
What killed Detroit was the Democrat Party moved in. To use its control of government to extract as much money from the automotive industry as possible. And divert that money extracted to give to itself. Just like its doing today, to the States of California and New York.
The automotive industry is not coming back to Detroit and never will. They simply can not make money there. Which is the same for every other industry where the Democrat Party has control of government. Thus the ability to extract as much money from that industry as they can. Destroying that industry and the population subsistence from that industry.
Cali and ny are alot richer then snd red states.
@@zombiestory6353 They will not be for very long. When the Democrat Party is stealing anything they can from the population. To spend that money upon themselves. Using the powers of government to do so.
@@WilliamOPearce Democrats steal no more than Republicans. But when you tax the freak outta your populace and industry.....something gotta give. And a lot of these factories moved to blue areas.
The acorn doesn't fall far from the oak tree. One lousy Romney begat another lousy Romney.
Spot on one Trump sleazy parent created another sleazy Donald. “Stormy who?” Lol
@@jakemf1 I think you meant, Sleazy Joe creating a Sleazy Hunter? Two rotten peas on a pos, indeed.
Thank you .. great show..
God I admire this man!
Glad to see Thomas Sowell addressing this, Detroit is the perfect specimen to put under the microscope, arguably the most productive city in the most productive country at one time,
how could it have fallen so far?
It would take Many mistakes over a Long period of time.
I just want to say that this comment section is leading and bounds better than the live chat sections for our government's addresses
Remember People were burning down their communities in the 1960s. People lost their homes as well to fire.
9:28 “you have to have young couples having children.”
Planned parenthood won’t allow that
Straight up. Scourge of our time.
Prof. Sowell is one of the kind.
There was a young mayor elected in the early 60's who massively increased taxes on businesses within the city, and that, along with the riots, is why they relocated. This guy speaks in vague generalities.
I was born and raised in Detroit, my father and all his friends had good life long union jobs. Because after WWII we were the only industrialized country in the world that wasn't destroyed by war. It was a union utopia, plus the Ford philosophy taught-pay your workers enough to afford your product. Liberal government (20 years of Colman Young a former communist Democat) and the greedy UAW made it so the big 3 couldn't compete with Japan.
the reality is that many cities in the USA are stuck in The Hunger games society
I blame the end of freedom of association with the Civil Rights Act and Anti-Discrimination laws of the mid 60's. For all the good intentions & moral flagellation about; taking away the functional property of private ownership of land & business has lowered the quality & expectations for all Americans since that time.
Discrimination is a natural human right & we have all suffered for losing it. It is the obligation of cultured person to be able to discriminate.
If we keep going down the road of calling discrimination a sin, it will lead to a Brave New World scenario.
Too few will understand your comment.
@Shane McDowell
A factor, no doubt, but not the main one. That said, free discrimination is not likely to be popular any time soon, even as people like the great Dr. Sowell would be in favor.
@@jimwerther Then we deserve our collapse & the deaths of millions going forward.
@@NiceViking100
No, we really don't.
@@jimwerther We sacrificed our hard fought freedoms for false security to please people who can't be pleased?
Yes we do. Now face the wall.
I love when congressman Cummings called trump a racist and Trump said
“Where’s the $16 billion Baltimore got from Obama stimulus?”
Cummings • crickets
It's funny how you can actually see him lying.
Born and raised in Detroit I see three things that happened to Detroit one oil embargoes in the 70s two the started producing junky cars that around the same time it weren't worth nothing 3 the moral breakdown of the City
Detroit was wounded in 1967 and never fully recovered.
Does anyone take Wolff seriously? He belongs in that category of people who you can only stand to listen to if you haven't listened to anyone else.
His ideas on how to run a company are hilarious. 50% of workers on a Friday decide the strategy - and 50% the next week. An expert in things he doesn't understand
Or if you're twelve.
"See? And that's why Capitalism is evil."
"Yeah. Can I go out and play?"
When wages and other fixed costs for industry are pushed to a level that can only be sustained at the peak of the market, any contraction will be disastrous. Unions pushed managers with short time horizons to pay them. Naturally, subsequent generations of executives found more welcoming locations to build plants. There's also the fact that a warm, dry, factory job with regular wages is very attractive to someone who's spent his life facing the South end of a North-bound ox over a plough. For their over-educated children, it's "exploitation".
Yes. What kids today claim is "living wage" would be apropriate for Louis XVI.
@@ms-jl6dl Pretty much. I can afford to have an orchestra playing music I like 24/7, which would have been impractical for him. Beggars on the street have cellphones.
I'm no expert, but I am pretty sure greedy politics destroyed Detroit, not capitalism. Funny how these situations are always presided over by a certain political party.
last year a republican was mayor in Detroit was 1962
Well, if you listen to the video, one of the architects of the downfall was Romney, the father of MItt Romney, and a Republican
governor of Detroit and HUD Secretary under Nixon. He wa also the president of AMC from 52 - 64.
But George Romney was a RINO as is his son Mitt. He wasn't a true conservative.
@@scottb4579 I don't disagree with you. Actually, I am embarrassed to have to admit I actually voted for Romney in the Primaries. I have no apologies voting for him in the presidential election. The alternative was unacceptable. But live and learn I guess.
I was also stupid enough to support opening up economically to engage China (financially giving to the Cato Institute) because I truly believed at the time that such an interchange of commerce and ideas would lead to more liberty in China.
It's humbling to face yourself when you realize you are wrong, but the way I figure it, you aren't a real man if you can't admit your mistakes.
He's a genius and I'm enthralled every time he speaks.
Grew up in Michigan and what's happened in Detroit is sad.
Like the woman city councilman demanding reciprocity after the 2012 elections. "We helped him get elected, he needs to show us his appreciation."(paraphrased, but succinct).
Democrats don't know the meaning of subtlety or understatement.
Well done
We employ people who are physically attractive, can lie convincingly, are greedy and are good public speakers to decide on things that they have no knowledge or expertise in and look after our money. then we employ people who know about how to run things as advisors who are then ignored because it risks the power of those desperate to keep it.
I also know Detroit well. As some may have mentioned, the riots from the 60’s (I think 1967) was also a significant contributor to the start of the exodus of Detroit. The city tax is also terrible. You are taxed twice if you live and work in Detroit, taxed once if you either work or live in Detroit as of 2006 (that may have now changed). If you lived and worked in Detroit then moved out of the city and took a job not located in the city, without an increase in pay (making around 43k a year) you (single person) would see a minimum net increase in your check of $350 a month. You will actually see more money each month because of the decrease cost in car insurance. With a perfect driving record and a 4 door sedan, my car insurance was more money than my car note; I saved $250 a month in car insurance alone without making changes to my car policy. In my case moving out of the city saved me over $500 a month.
With that said, Detroit is finally making a comeback and I am really glad. I experienced years enjoying downtown Detroit. People are moving back into the city, particularly the downtown which is thriving again. I lived within 2 miles of the downtown and in those areas people are moving into the city, buying those beautiful old large homes and restoring them. Even though I no longer live there, I hope Detroit does well.
Absolutely. Taxed twice
The ability to increase the playback speed at the beginning of this video really shows its worth.
Listen to someone who talks like Ben Shapiro fast if you want to make yourself focus on what you're hearing.
Commie logic is much like religion.
It's nothing like religion
Except even the most insane religious fanatics deal with reality socialists never do.
@@siphotheguy1870 yes it is....and like religion it's bullshit
Listening to Wolff, I wasn’t even sure whether I should cry for his ignorance or laugh at his tunnel vision developed from one Marxist book after another.
I grew up in a society where Richard Wolff’s beloved Marxism was put into practice-- Communist China in the 1960s and 70s. It doesn’t get much more authentic than that.
Take his “disastrous unbalanced development under capitalism”: 30 years after China’s “development/growth” guided by Marxism, exactly 1/6 of all “fiscal income” (in the West that’d be known as tax revenue) of the central government came from one tiny spot on the east coast: Shanghai, the former “semi-colonial, semi-capitalist, semi-feudalistic” financial and industrial center of the “old China”. With just 1% of the country’s population, this old capitalistic city produced 1/6 of the entire country’s GDP. Is that Wolff’s idea of “balanced development under Marxism”? After the Chinese Communist Party gave up the “authentic Marxism” and allowed people more economic freedom (ie. to practice capitalism under a “Marxism/communism” banner), the world saw China’s 30-yr phenomenal economic growth (until its return to Marxist doctrines over the recent years, pushing its economy over a cliff).
I live in Metro Detroit since 1986 - It continues to decay in some areas and in some areas development is reviving the landscape. the fall of Detroit came with the riots 1968, and Democratic policies that drove it into the ground.
And NAFTA and regulations
RACISM.... DETROIT. HIGHEST PROPERTY TAX. HIGHEST PROPERTY INSURANCE. PERSONAL INCOME TAX. HIGHEST CAR INSURANCE IN THE COUNTRY. MOVE OUT OF DETROIT AND SAVE AT LEAST 4000.00 PER YEAR.
Almost went to Detroit in '87, glad I didn't. Should've known though, the best thing to come out of Michigan ever is the Motor City Madman. Keep rocking Uncle Ted!