Keep it coming folks. I thought I'd have a chance to see old Ricky say some stuff to the rightists. Instead it's just more of the same obnoxious primary school behaviour.
Poor Richard Wolff. He's a doctor in economics who has debated and written more about the subject of Economics then anyone one in the "panel"or audience. We have Caine and Varney using personal anecdotes to justify their positions. No substantial evidence. No well thought out positions supported by facts or any type of numerical evidence. Just "I took biscuits to school with no meat..", the same old "pick yourself up by the boot straps like I did" that lead a conversation no where.
That is the problem with capitalists. A lot of them do not know economic theory, they simply use anecdotal evidence. They argue with quite literally some of the smartest economists in the world and act like they know better. It's sad, and it is leading to a seriously alarming state of the world. Imagine if people believed those with research in economics like Richard Wolff.
"I was poor and now im rich so capitalism good" is the extent of their arguments here. if you gave Wolff more than ten seconds to talk and a moderator who wasn't so incredibly biased that he was arguing with Wolff more than the other two were, then you could have a productive conversation. But its fox news so I could never expect a fair and balanced conversation that doesn't benefit the company's wealth shareholders
@RoastWorthy No, wolff can't debate because he doesn't have enough time to talk. He is very much used to making long, drawn out points that take five or ten minutes to fully articulate, he is not good at this very fast paced debate. A much better contender for this kind of debate would be kyle kulinski or Hasan Piker (prolly spelled wrong but oh well). fox new that this was very much not wolffs element and that is PRECICLY why they had him on, because they aren't looking to take a nuanced look at both side of an issue, they want to reinforce the beliefs of their dumb boomer audience. Also im very much not poor and still hate capitalism soooooooo
@RoastWorthy He doesn't make the argument that a society with people in poverty is bad - he makes the argument that being impoverished should look different. There should be a baseline of sorts - even when you are in poverty, you should have the right to medical care, education, housing, etc.
@@ethanhoefler181 Did you mention Hasan ( an Entertainer ) as an actual contender in a serious discussion. If that's where you get your ideas, have you really put that much thought in it in the first place?
Yeah that's exactly what socialism is. Socialism is inherently violent, requires confiscation and expropriation to be implemented. That requires an authoritarian body, a GOVERNMENT.
Afeef Tirmizi For marxism-lenninism, sure. But bottom up socialism is also a legitimate means of obtaining public means of production, and is gaining traction. Moreover, this is only in the preliminary phases according to marx. Afterwords, the state would become reduntant
@@quincy8093 The state is supposed to represent the people. It is the voice of the majority, elected by the majority. Saying that the state is some sort of an alien, despotic regime, especially in the context of the US is wrong. There will ALWAYS be a "state", even if people revolt, the purpose of which is the confiscation of private property for "collective ownership", which would obviously lead to deaths because some people won't just hand over their assets to an angry violent mob. That angry violent radical mob will ALSO ELECT officials, who will form a GOVERNMENT/STATE, who will have to ensure that there is NO private voluntary trade between individuals for the purpose of benefit or profit, which is essentially what the abstract term "capitalism" means.There are PLENTY of other things that a government/state does, they will ALWAYS exist. Libertarianism, Marxism, etc. are just meme ideologies. In reality, there can only be 2 economic systems: 1/Mixed economy 2/Planned/Command economy
Then citing someone's arbitrary opinion, like in your case, "Marx", is the equivalent of a Muslim citing the Quranic verses as to how there are 72 white big breasted virgins in paradise, waiting just for you, if you just convert to Islam and do good deeds. You will obviously disparage the idea, despite the fact that over a billion people believe that to be true.
You work hard in sales (phones for example in 90's) and pour your cash into stocks. When interest rates are minuscule you put it into property. But you don't get anywhere if you're not the guy/gal who's smashing targets, getting the commission and now blowing it. In the 80's, directories where big money sales/commission got you started. 2000's Google ad words were mad lucrative. But you had to be in the top 5% in office/sales deck to earn the big cash. Commercial energy contracts was another massive commission opportunity for those who REALLY grafted. Its been rinsed now (and EU regulations were making costs ludicrous, profits tighter and wages smaller) but theres always another on way. These are all examples of jobs where a degree wasn't a gateway to success (Or required). I lost everything in 2004, back on property ladder now. I've been public sector I've been private sector. The waste, over paying, bad staff and generally awful value for money in public sector is appalling. Obviously theres great people, heros, motivated top people but, unlike private sector, bad staff, poor productivity and sickness levels in public sector is tolerated. The numbers speak volumes. The biggest change US needs is to bring CEO earnings back to within 50% like in Reagan era and before. Not lunacy like 1400%. Also continuing the aggressive tariffs to ensure manufacturing sector stays and prospers. Tax breaks for families and smaller deposit schemes for 1st time buyers. Make buy to let mortgages very, very different. Banks buy to let mortgages have been a disaster (yet those private landlords aren't part of 1%) The biggest opponents of these ideas aren't all the 1%, its the neo liberals, for example we know now Citibank picked Obamas administration due to wikileaks. These are the people who pushed for signed global trade deals that decimated manufacturing. That wasn't capitalism, Trump or Republicans. It was corruption of lobbying and Clinton who started that. Bush gleefully joined in and showed how there's a political elite with bureaucrats who dont put country first. Obama called bringing manufacturing jobs back 'fantasy', 3% growth bygone days. Forget hand outs or incentivising single moms via benefits. Tax breaks work! Jobs and growing economy is key to anything. Less unskilled immigration=Less wage stagnation. Labour and Democrats going neo liberal (or pro EU in UK) and selling out working classes due to guaranteed votes from the 90's onwards has been a disaster Socialism is using a hammer to catch a fly.
Investing is something one does themselves. There are four ways to make money: Earn a paycheque by being employed. Earn your own income by being self employed, passively through establishing and running a business you front load your labour into in order to produce residual income, or investing into others' business in order to earn passive income. All require one to act themselves. Which you choose to stay in for life is up to you.
He is right, if I own gold or literally any asset that appreciates or depreciates against fiat currency, then I am entitled to the profits and liable to the losses. If your car appreciates in value, then you sell it for a profit, is anyone else *entitled* to that profit? No.
@@ggt8194 yes. I can argue the car should never have even been made because it was built on the backs of laborers enslaved to an unequal economic relationship. People always pursuing profits are annoying, and are no different than a junkie prostitute constantly chasing that next dollar. Who got the gold out of the ground? And why would that even have been done in a rational world if most people wouldnt put shiney metal as a necessity to life. Annoying things of the rich and prostituting.
@@mattnewhouse1781 Enslaved?! OK, tell me how are they "enslaved" to an unequal economic relationship as you put it? If I want to be an electrician, plumber, barber, mechanic, street vendor etc. who works independently, so who has "enslaved" me then, the consumer? who could be anyone, then how is a businessperson who employs people any different than a consumer? And unlike the average consumer, the businessperson will have to abide to several regulations, that includes providing social benefits to employees, the barber, mechanic, street vendor don't get those benefits. If there is a local bakery, the income for that bakery is mostly dependent on those who live in that neighborhood, block, etc. right? I mean its all semantics. What if he has competition and has to share the market. Too bad?! A prostitute can choose to work independently for clients or sign up for an adult company. In both circumstances, there will be terms and condition, compromises, etc. As far as the addiction to luxury consumption goes, well that's a totally different subject. I have mixed opinions on that because that imo is like saying that people should stop lying, or just stop being bad. We know that's never going to happen. People when able are going to be attracted to and consume high quality goods and services. Reminds you of Germany before the reunification, how those in the East were just naturally inclined to Western luxury. Now I support unions and quality social services like in most modern countries that would level the playing field but this apparent loathe for businesses especially when they do well is ridiculous and leftist economic ideology is so flawed that it wouldn't take much effort to crack it.
because no one here was disrespectful until you came and put this irrelevant and disturbing comment. Nothing laughable. We respect such people. It seems you have some sadistic issues.
@@theblindowl3828 I mean, he's clearly a successful person, so guess he earns some respect for that. But as a debater he would be subpar even when compared to your average high-schooler. He completely botched his argument, which essentially boils down to "I made it from poverty so everything's fine...", well guess what? Even in North Korea they have a few thousand who make it from rags to riches every year. His position is such an easy one: he can argue numbers, compare to some communist countries if he wants(like Varney did) at which point it falls on the other side to build a case. He can even yield the point that people are suffering in the States and point to regulations on medicine jacking up prices, wallstreet bailouts balooning the debts, etc. He chose just about the worst possible angle, so some ridicule surely is in order.
@@iverbrnstad791 Well maybe his point completely flew over your head? His argument wasn't "hey i'm successful so its okay!"? Not sure where you even got that idea from.. His argument is that he also endured poverty and barely had anything to eat. And claims that food is readily available if your willing to work for it. Here is this fattass chick crying about people going hungry.. The irony is hystorical. The United States is the fattest country in the world. People struggle to maintain a healthy weight in the U.S because food is so readily available at an affordable price.. As you can clearly see from the girl who was arguing about kids going hungry (needing to lose weight..) Herman argument was that food is easily attainable if people are willing to work for it just like he did and just like everyone else does. He clearly says it at 13:58 . the only thing that should be ridicule here is your line of reasoning..
@@Diabolical05 Her weight is entirely irrelevant to the topic at hand. Though I guess you being as dim as this dude, who literally killed himself by failing to take proper precautions against covid, would think "she fat lul" constitutes an argument. Her point to poor kids was an illustration of how many people in America struggle with poverty, many even while working full time, in some cases this means starving kids. USDA estimates that some 11 million kids live in food insecure homes. Just because America also has an obesity epidemic doesn't make it less of a problem. The reason for bringing up kids specifically is that they shouldn't be expected to "just work for it", yet many of them go hungry. You could blame their parents, if you'd like, but that doesn't fix anything. Most would agree that kids going hungry is a symptom of greater failings of the society. Herman Cain bringing up him going hungry while growing up, yet making it due to hard work, is basically as relevant as bringing up T-Series as a counterargument to slums being a problem in India. It's an anecdote which parallels have been found in every society in history. So unless the argument being answered was "it is impossible to go from poor to rich in America", which noone in good faith would argue, then it really is completely irrelevant. So yeah, it constitutes little more than a grandpa style "back in my days..." appeal to emotion. As Ben Shapiro would put it: "facts don't care about your feelings".
@@iverbrnstad791 I especially loved at 13:45 when Cain assert that her claim was ALSO false. That dummy was just judo thown into quite belligerently asserting that his argument was false.
Yes he did make it off the stock market and I will tell you why, because he had capital to invest in the stock market. Do you think you would have enough money to invest in the stock market under socialism.
When during the Trump administration the bottom 1/5th of wage earners had their incomes rise the fastest of all groups. That was the first time that had happened since the George W Bush administration. Because both Trump and W. used Kennedy's theory of using lower taxes, less immigration, deregulation, and smaller government to tighten up the labor market. Which raises wages, allows mobility, allows for advancement, and gives people dignity. Compare that to the Democrat policies of using high taxes, over regulation, open immigration, and big government to put permanent slack into the labor market. Which drives down wages and drives up housing prices at the same time, to the point tens of millions of people don't have any money left over at the end of the month. And it's the low wages at the bottom that allows the excesses at the top, causing the wealth gap. Raising the bottom 1/5th of wage earners wealth relative to everyone else is something liberals will never be able to do because of their policies. Nope, the problems socialists blame on capitalism are actually caused by big government Liberalism.
@@eoin4172 The capitalist spend a lot of time creating needs that are unnecessary like all the luxury goods. Capitalists need police and military violence to defend the profit system. To win the battle of the market the Generals who can discharge more troops are the winners in the battle for market share. Yes the capitalist who loses is eaten up by his fellow capitalists who are motivated by the instincts of the cannibal.
@@mattheweven4764 Our solution to the capitalist wars and economic crisis is for the working people to take power from the capitalists, their government and their parties.
@@eoin4172 Yes the US Federal and State gulags are setting records for the numbers locked away and under cop supervision beating those of Stalin. Obviously capitalism is winning the battle of the gulag.
china’s growth model cannot be replicated in other parts of the world, it is based on huge labor surplus and state owned property as a financing vehicle. It is actually a combination of capitalism and socialism, i.e. market oriented economy with Chinese characteristics
I'm sure Wolff would agree but the question was about economic successes of socialism. He was not advocating for a centralised state capitalist system.
Also they stole billions from the biggest economy in the world, the US. Thanks to these crooked politicians who have been giving this country away by the chunks.
"China has grown and produced more than the united states in the recent decades" - well, seeing as our capitalists invested all of their money in chinese labor and factories, yeah, I can see that. Remove foreign capitalist investment (whether from the United States or otherwise), and china would not be the economic powerhouse that it is today. Plain and simple.
@MichaelAngelo RevSantee they also hold our debt.....nitwit capitalism failed in Germany in 1930's and it hasn't fix the former GDR either. I'm sure Stuart, Maria and Trish have talked about this.....LOL!!!! NOTTTT!!!!.......NEIN!!!!
@@stumpedii8639 Or maybe.. He actually worked as a young adult and believe it or not.. SAVED HIS MONEY? so he can then reinvest it into stocks? Capital doesn't come from no where.
Ya, they never talk about how they got the money to invest in the first place, and even then, the model of success they present is just a gamble game that fails more often than it succeeds. How many times you could invest in a stock or a bond and make wealth out of small start? 99%? 89%? We are talking about productivity, about work, about sweat, which could only create real and systematic wealth for all, not a gamble that works only for few at the expense of the rest. The workers create the wealth in society, and the workers are the class that suffers the consequences of the the exploitation. It is the work surplus which creates the wealth and which goes the few at the top who take all the credit for creating it. That is simple theft or robbery if you consider the element of power that the ones on the top have over the workers.
Socialism where the government owns the means of production and hands out the goodies but what it really is is unsociable people getting what they want by using the power of government to extract resources from others at gunpoint the cowards don't even have the balls to rob people themselves.
@@Barskor1 no that would be communism. You're describing a planned economy. You can have a socialistic market economy via employee owned companies, cooperatives, etc
This whole 4 part series should start off with what we mean by capitalism and socialism. If you don't agree on exactly what you mean by capitalism/socialism, how can you argue one in favor of the other. This whole first discussion was as clear as mud.
capitalism works in creating wealth...socialism works in redistributing wealth. There is no point in arguing that socialism works better in creating wealth...just as there is no point to argue that capitalism works better in redistributing wealth...The mechanism that capitalism uses to redistribute wealth is called trickle-down economics is resulting in unprecedented wealth inequality that the top 10 richest people in the world own as much as the bottom 50%. This is unprecedented wealth disparity worse than the days of the kings and queens. So if we cut out the ideology and personal anecdotes ...the world needs both capitalism and socialism ....just as a person needs to inhale to get oxygen and exhale to redistribute the oxygen to the entire body even those parts that did not work for it in some sense if you want the person as a whole to survive.
Raymond Sisneros Yeah, I won't waste my time watching more...thirty seconds in reminds me why I never watch fox. Insufferable elitists talking over their guests.
There is no linkage between smart people and the rich other than the say so of the rich who attend elite Poison Ivy universities. Those who work hardest like farmworkers get the lowest wages. Those who do the least walk to the mailbox every three months for a dividend check.
@Evan Scammell Right he would have been so much more valuable if he done something like George Soros and shorted the Bank of England for a 9 Billion pounds sterling. No wonder the rest of the Billionaire class are afraid of Soros he could short them tomorrow and leave them sitting outside of the homeless shelter the next day.
cos that pipe dream is sold to us as for us not questioning why it so rarely pans out for smart & hard-working people all over to achieve the standard of living of their parent generation let alone surpass it.
@@davidgoff357 He creates the jobs, those who work are glad for it, if he hires illegals it means those people want to earn a living and not be a drain on society. What he pays them is his business, not yours or mine. I hope to as successful as he is someday.
@BrunDog63 Wolff is pretty smart. I agree he didn't do well here, because the China thing is really, really dumb. However his lectures on democracy in the workplace are pretty great. He's a great critic of capitalism as well.
@BrunDog63 Sure, democratic socialism and actual socialism are conflated all the time. I'm fairly sure Wolff is a socialist, so pairing him with someone from the DSA is pretty weird.
@@TheMrMacintosh Wolff is a democratic socialist. Also, he's not that smart. I used to think he was too, but now I know that 1: a revolution is necessary and 2: he gets a ton wrong in his updates about the history of socialism. He also doesn't seem to understand my ideology, anarchism, which you can tell from when he was asked about Noam Chomsky. Chomsky is an incredibly smart speaker.
The failure of capitalism is the failure to trickle down money. Need socialist programs (minimum living wages, health coverage for all, job security, and others) since money isn't trickling down.
@Elliott Bronstein Don't waste your time on these fools Elliot. "It is much easier to fool a man than convince them they have been fooled" - Mark Twain. These people are bred, born and brainwashed fools who think there is dignity in licking a boot for a penny. Save yourself the despair
@@davidjohnson8655 Richard Wolff is a prominent economist and a graduate of Harvard _and_ Yale _and_ Stanford. He understands economics much more than a guy who owns a pizza business and a guy who got rich flipping houses.
If he understands it so well why does he state “facts” without context. The China growth higher than the US while still the second largest economy. They have built their wealth on the backs of the people and the money of capitalist societies.. The same people that have less than most here in this country. So where is their wealth going? If China is the only success story that you got you know it is a failing economic system.
@R. W socialism brings up the bottom capitalism brings up the top. It's redistribution of the wealth brought by a market economy. Socialism can't exist without a market system on all none essential industries.
That's sorta why Communism/Socialism doesn't work. Then again, Advancement does take place once those who are to advance anything have a gun barrel pointed to their heads.
What happens is that people with ideas and ability will go elsewhere if they start to be taxed too much! Human nature is like that! Just look who made China - from peasant country to a rival of USA???..... better profits! You could not be unemployed in socialism like Soviet U. so there was disincentive to fire people, because they would have to get a job anyway in another Gov company! Why then would you apply yourself to a job if you can read newspaper and bum around instead!?
taxes are already taken away from people's wages, profits and innovations if you still live in a free and peaceful country you won't leave, more than likely plenty of countries in Europe still have a good business environment and they're not poor countries
malrofo I also cannot grasp this idea, it's not like socialist USSR was the first country that send a human to space, created electric music or made many technological inventions 🤔
The only person that even said a single word of sense in this whole video never got to even finish his point. Pretty much what I expected in a "town hall".
@@communistpowerranger9629 It's not Capitalism that fails. It's greed. People taking more than they need, and using ever dirty trick to make sure those who do, never get it.
Michael Dell came up with the same "socialism never worked" slogan in Davos and got schooled by an MIT professor ua-cam.com/video/MBGmBkdMKAc/v-deo.html
@@jedknight4389 Capitalism fosters greed. You can't expect things to work based on people just being nice, specially when the system itself gives you full incentive not to be.
let's see, the choice is easy---free markets and capitalism have lifted BILLIONS out of poverty; socialism has created hundreds of millions of poor, and murdered another 150 million.
Mark Twain quote. '' When I was eighteen my ole man was the dumbest person to walk the face of the earth. I can't believe how much he learned by the time I was 24.
Michael Sever thats a great quote, the problem is these kids are taking a lot longer to grow up coz we have to panda to their every whim. Brainwashed by these socialist ideologies that is served up in all the universities in the UK and US
@@joeblow1942 - I don't remember making any comment on either one of this topics. I certainly know the definition of both. Where did the original comment originate from so I can see what it was pertaining to?
Mary Jean Jones Read my first comment again and then read your first comment again. Theft is immoral. Socialism relies on the redistribution of wealth at gunpoint. That is theft. How much more clear can I make it?
@@joeblow1942 - No problem. Only, I don't see 1st comment that was mine. I don't remember being part of this conversation. Where does one find the original comments? I certainly don't remember reading anything about distribution of wealth by gun point. That's absurd.
Because those men have real world experience, and when outside Gov or power (Soros) find a way to prop up idiots with money thru our university system, then succeed at putting idiots at the front to drive our train down the mountain that is irreversible, Yes it is personal to them. If people want to live in State control society, they need to go to such a place and live. Not bring it here and take from the Do-ers of this country.
@@MajorLeagueGlass Really? Where do you get your ideas from? You did know that George Soros is a hedge fund capitalist, right? He's the LAST guy to support Socialism with the stated aim of eliminating capitalists like him. Get a clue, dude. Stop looking at those conspiracy theory websites like InfoWars.
They get mad because they both know that socialism doesn’t work. It sounds great, “everybody will be taken care of!” The reality is the lowering of the quality of life so that we are all equally miserable except the government elite.
Remember China has deeply relied on America’s wealth. Now China is struggling due to the tariffs and long as other country’s are willing to pay all things are great but when they stop well you see what’s happening now.
@@grinnifer Impressive. I guess we just can just unilaterally wipe out the long-term debt securities that China purchased from us in exchange for up-front cash lending which they deployed to the U.S. Treasury. I'm sure the Chinese government will be completely fine getting those trillions back that they're due.
all of those folks that think socialism works, needs to move someplace where they have it and see how they get along. why should those that work their butt off be penalized for their effort???? believe it or not, not everyone gets a trophy.
No one has where in the world does the people own and control the means of production and experiencing full labor value not to mention the dollar and inflation added into the equation of selling labor
@@ChaimGoldstein-ff8re but not everyone can. there must always be workers, who do the actual labour and do not just sit around owning things and reaping the profits of their employees work. those workers cannot support themselves or their families on the chance to maybe get rich one day.
@@arborrhys9162 it's a very long argument trust me but overall the system the Great US has is the best no system is perfect but we must thank God for this one
LOL exactly. And I think it's ridiculous how the black guy says he "risked" to get himself there. Right, so whatabout all the other people that risked and failed, and suffered? This is classic survival/selection bias. If you only look at the rich and do what they do assuming that is the recipe for success, without considering everyone else that did the same exact stuff they did but DIDN'T succeed.
@@ChaimGoldstein-ff8re "It's a very long argument." ..."Thank god" Yeah I don't think it is. I'm pretty sure you have no argument and also very little reasoning capabilities at all. Basically, it's a long argument but you're an idiot, trust me. ROFL. As Arbor Rhys said, capitalism is essentially a pyramid scheme. If you keep doing it long enough you too can get enough people under you to exploit so you don't have to do anything! It's the American dream!
All high schools need Trade classes so kids can graduate with a Skill in an Employable Trade at 18 years old. Nursing Construction Cosmology Dental hygienist Business management Human Resources Social Worker Etc.. These classes can start in 9th grade.
I greatly respect the trades and craftsmen or craftswomen however as a pipefitter I was starved out in the 80's where now they are back in demand . I have thrived as a nurse , there is no path that guarantees success but hard work will improve the odds . And no one works harder then nurse aides and they barely make minimum wage .
@@kimobrien. At the present any tech jobs are doing pretty good with our rush towards automation .The question is how will they do in 10-20 years depending on your time in the work force , There is a HUGE demand for nurses and a HORRIBLE nursing shortage coming . no mater what we do we will not be able to train enough nurses on time .
You mean people that are born rich create low paying trash jobs. And we should be grateful. False conscious: When working people are tricked into accepting their exploitation.
@@patrickcorrea6295 No one tricked a worker into accepting a job. If you think your labor is more valuable than you are paid for it, then find someone willing to pay more or build your own business.
@@multiHappyHacker That's the problem with these people. They just want handouts. No balls to risk what it takes to make it. Sad Socialists: "It's a terrible world out there, please gimme gimme. Wah wah wah... I don't know how to make it out there. Govna sir, please help spread the wealth cause that person's got money I want.. I mean need." Smart person willing to work hard: "Gimme that dollar and I'll make 2 out of it." (edit: Smart )
@Anthony Gomes Just take a look at the Democrats run states and citys.. let's face it also starts at home how theses kids think... but schools do have a great influence.
@@2FadeMusic Do you know why that is? The government takes 50% of their earnings in many different ways. Inflation, fees, tariffs, licencing, regulations and taxes. “Everyone wants to live at the expense of the state. They forget that the state lives at the expense of everyone.” ― Frederick Bastiat
What an utterly terrible formatting of debate. People are getting less than a minute to respond to the question, which is insufficient to even begin building a coherent and articulate argument. This advantages those who can use sound bytes and mindless catchphrases over those who would actually approach the nuance of the topic. Then you have a biased moderator trying to be a participant on his side of the debate, rather than actually moderating stuff like time allocation, interruptions etc. The pro-capitalist side people are comically ignorant of the specific points the pro-socialists have to make and instead use generic, strawman assumptions like "Socialists are/think/do [insert unflattering stereotype]" rather than make an effort to understand the precise arguments made by Dr. Wolff and Ms Cunningham-- arguments which of course they don't get any adequate time to elaborate upon.
Varney: "I did it by myself!" No, you didn't. In order to get rich off the stock market, you need to invest in successful companies, of which the employees contribute directly to their successful operations. Because of the hard work and dedication of those employees, only then did you become rich off the market.
PLUS How well is China really doing? There's no freedom of speech there. Some believe the unemployment rate of China is actually a lot higher than what they claim it to be.
Eugene I’ve been there 30 times. They can speak freely but not too publicly like on TV. So if someone hears you say something bad and it’s reported nothing will be done.... but if you go on national tv and speak out too harshly you’ve got problems. As for their employment, most people say it’s hard to hire there now so they are automating with machinery more and more. Also people are now buying cars and apartments... they are really growing but yea they have all kinds of problems too.
Eugene yes they do but thank goodness they at least are using capitalism to create some freedom..... and meanwhile many Americans want to go backwards back to socialism
China's economy began to grow when they adopted more free market policies in agriculture and industry. I think attributing that growth to socialist policies is misleading.
I find it incredibly hilarious how we are having a debate on this topic in 2019... It is so blatantly obvious Capitalism is the only economic philosophy that can pull people out of poverty.
InFa Nate //the state of being extremely poor. So what’s the argument here? Tens of millions in poverty. The statements here (obviously made by right wingers) don’t make any logical sense. The poverty line wasn’t always $12,000 in America, #1. It’s OBVIOUS that this capitalist structure doesn’t provide those opportunities the way it thinks it does, #2. I hate to break the news but Herman Cain is wrong. People don’t CHOOSE to stay in poverty. It takes money to make money, here. That’s where capitalism has led to. The more money you want, the more you need, ESPECIALLY starting from NET 0 which I’m sure NOBODY here can personally shed light on the difficulties of. “You can’t pull yourself up by the bootstraps of the boots you don’t have” is a quote that refers to capitalism, not a lack of initiative.
@@jonb3189 It's ironic that you say this, when the Democrat Party has more in common with the German Nazis than American conservatives...and this is an observation by a libertarian.
@@jonb3189 Typical. Quick to hurl personal insults and slow to respond with facts. In any debate forum, that is when you lose....besides I'm far more educated then you give me credit for. After getting your degree and your masters, the best skills you ever truly learn is how to teach yourself.
The only way purchasable economic value gets created is if people do labor. A person who receives wages is a laborer. A person who's income comes from capital is a capitalist - a person who has other people do the labor for them. Capitalism doesn't allow anywhere near everyone to become a capitalist because someone needs to do the actual work that generates the value.
Really? Because capitalism is creating mass poverty well on its own. Close 80% of Americans love paycheck to paycheck. 50%, that's one in two, are in poverty or close to it.
@@soberanisfam1323 they live paycheck to paycheck but, most which have smart phones, cable TV, and internet. It sounds to me like they just aren't spending their money the right way.
Ever notice that the ones who WANT socialism have never lived in a socialist country? Ask someone from Cuba or Russia or Venezuela or Afghanistan or Cambodia or Italy and see how that worked out and WHY they left
FFs ask someone who has had their child die becasue their insurance wasn't valid, If they would rather live in the UK. See anecdotal examples are pointless.
KaptainBasketball Its Also a welfare state and was under rule by the Norwegian workers parti and the socialist letft under the Discovery of the oil and the adaptaision of the norwegian oil fond wich is what most american Expert point to when they talk about the the capitalist market structure. And besides that the left socialist side holds the majority of the seats in the parlament.
You right nobody is stopping us from being ruled by the corporate masters. Nobody is stopping others from freedom. Oh except the U.S. Government who invades other countries since forever. To tell them how to run their countries.
@@kevinobyrne8020 Ha! So true! Socialist: "The government sucks and is corrupt. Let's give the government all our money so they can decide how to spend it. That will solve the problem."
And a poor one at that, which did nothing but show his own utter ignorance of economics. 1. China's growth came from 3rd world to developed world over that period of time, equivalent to what the US experienced in the late 1700s and 1800s. To compare current trends of the US to that of China's revolution is laughably absurd, and would get you immediately discredited from any academic journal for such horrendously stupid claims. If one compares the economic growth of the US industrial revolution to that of China's, you will note many similarities. Namely, the same sorts of equal rights and human treatment to boot. To argue that China, which achieved this growth only when the government relinquished control of businesses and allowed private ownership to flourish, is an example of socialism doing it faster than anywhere else is 100% factually incorrect. It was private ownership through the use of what is essentially slave labour to accomplish this, no different from the cotton fields of the US prior to the civil war. 2. The ability for China to achieve this rapid growth was contingent on exploiting sweat shop labour for a fraction of the cost of 1st world labour, and thus shifting industrial production away from already established nations and toward theirs. This would not have been achievable without free market capitalism flourishing in the rest of the world, and allowing China to use this as their market advantage in competition. Again, this isn't an argument in favour of socialism, but a testament to how the power of free market capitalism can lift up even the poorest by means of giving their own individual labour value that no socialist or planned economy can. How a professor of economics would not know this insanely basic knowledge of the field shows just how little intellect is required to make it onto modern campuses. I guess there is a reason they say those who can't do, teach.
@@dostthouevenlogicbrethren1739 - So, socialism really hasn't worked anywhere it was tried and if China's economy is a luxury car, under the hood one finds the engine is capitalism.
It's funny how modern people really think that "capitilsm is all about selfish greed" and "socialsm is about spiritual matter and future of all mankind". Guys, USSR didn't give a sht about future and spiritual matter. USSR was obssesed with "MELTING MORE METAL!!!" - forget about "environmnet protection", what environment means when we ARE BUILDING THE BRIGHT FUTURE OF COMMUNISM? People in USSR were the most greedy and grounded in the universe. You think Americans think too much about consumering? Man, soviet people plotted whole schemes to buy some shitty TV because is cost like 6 month's salaries. Car? You had to sign up in a line for 10 years to be able to buy it. People stood 8 hours in winter in line to buy some fresh mandarines once in a year. Future? Environment protection? Green planet? Haha
I had a friend try to tell me Democratic Socialism is different from Socialism. When pushed for details, he couldn't name one difference and sheepishly told me he only learned about it from a byline on CNN. I'm sure this is true for most people.
You americans call socialized public services in Scandinavia socialism... We keep trying to tell you we're not socialists... We just invest a bit more money into public safety nets..
You are the classic example Varney of Money well spent . Congratulations. I wish i could be just like you. A middle aged wealthy Serf who considers personal wealth as a guideline to success. Richard Wolff on the other hand looks at the big picture as opposed to self glorification and self idolatry,and sees the ongoing battle between money grubbing and an actual future in realistic terms for humanity rather than personal gain that seems foreign to you. You wear your monetary success as a badge of honor,never looking beyond to the Bigger Picture. Enjoy your wealth old man. You have learnt nothing along the journey.
Thank you for expressing my exact thoughts! They seem so ashamed of their past for using their success story as an argument for inequality instead of considering the luck in these stories (survivership bias)
Are you really such a naive kid that think that SOCIALISM is about higher matter, about future? Wtf? Soviet union was the most materialistic country on Earth where people only thought about "how to get new TV and jeans. TV costs like 8 my month paychecks and normal jeans I can get only if I travel to another country"
I just want to listen to an economic debate. The clapping gets in the way and everyone keeps interrupting Richard Wolf whos the most intelligent person in that room for the subject they are debating.
A quick google search reveals it's 1/10. That girl is as dumb as a box of rocks, typical fat socialist entitled whale who whines about not having enough to eat.
“The state is that great fiction by which everyone tries to live at the expense of everyone else.” ― Frederic Bastiat “Everyone wants to live at the expense of the state. They forget that the state lives at the expense of everyone.” ― Frederick Bastiat
So, in conclusion everybody lives at the expense of everybody. That is a perfectly fair system. At least it's much better than two thirds of the people hardly living off their hard work and the other third living well on the fact they let the two thirds work for them.
@@BUFU1610 Sorry BUFU1610 They "TRY" to live at the expense of everyone else not that they succeed in doing so example the ever-increasing gap between the rich and poor that coincides with the increase in socialism and the massive national debts created for the Guns/military industrial complex and Butter/welfare programs. Also, the attempt to live at the expense of others does not mean they are also working and sharing the "wealth" of their labor. If you really wanted a solution it would be to end government fiat currency Limited Liability, licensing businesses, insist on the enforcement of criminal laws onto the owners and upper management of corporations IE If the company dumps toxic waste they go to court and then to General population prison not pay fines and do it again the next day as the regulatory system has always permitted.
Capitalism is the lesser evil as it allows an unlimited ceiling of success for anyone who dares to succeed. Socialism limits an individuals success, making sure the state interest comes first and makes individual freedom contingent on state benefit.
Capitalism=what can I do to earn money from other people. Socialism=what can I do to take money from other people. I think its telling that younger generations levitate towards socialism. They seem to think that wealth and financial success is somehow owed and not earned.
@@VideoVidua Who made the initial investment that set everything in motion. Without the initial investor there is no product therefore there is no worker.
I don't care which... Just take the money from.the rich and give to the poor... Whether that happens in socialism or capitalism then I choose that one... Most rich people on the internet argue for capitalism so I choose socialism
@@laeeqahmed1265 yes I think there's a handful of people who know the system well enough to exploit it, maybe one percent of the population. Out of these people half of them have morals not to exploit people so they dont. Then the half without morals exploit the system and gain pots of gold. So on average the rich maybe 0.5% have a vested interest in maintaining the capitalist system. Hence why most rich people on the internet make tons of videos about the validity of capitalism and failings of socialism
I’m just scared at this point. So many people in our great nation ACTUALLY THINK socialism is a good idea in a country where capitalism and freedom has made us one of the wealthiest and most powerful nations in the world
Have to keep pushing the agenda and the agenda is dependency. These children talking are just that, children. They're exhibiting no ambition to climb the ladder of success, they just want it given to them.
Even sadder are the liberals telling those in poverty that they can't make unless the government helps them. They are literally telling those in poverty that they are incapable of succeding without help from other people.
If these kids learned the truth about people like Ernesto Guevara, Lenin, Stalin, and Polpot they would seriously reconsider their naive thinking. They are young and they glamorize quite a bit. When i was their age i thought being a hippy was the way to go. Then i got a real job and reality hit. The saddest thing to see is if they never grow out of it.
@angrykulla and as for the climate change issue, mount Pinatubo put outmore CO2 than all mankind throughout time. I do t think we have much to do with global warming. And if we do it is minimal. With a name like angrykulla, you could be antifa. Just a guess on my part.
I can remember as a kid when somebody needed to eat lunch at school we would give each other lunch tickets, so the kids that were hungry could eat, and they could pay back if they could at a later date.
The thing is, being able to eat lunch as a kid in school shouldn't be dependent on other kids doing charity or even other kids liking you. In the richest country in History, a kid having a lunch to eat should be a given and we shouldn't even have to talk about it.
As a Conservative Native American Indian Woman who was kicked out of the Donkey Party Convention over 15 + years ago...I had work extremely hard and attended College courses and then drove over 50 miles to my Reservation with no running water or electricity.. these entitlistic youth should obtain some Wisdom...as later in life I had the opportunity to give back overwhelmingly!! Im speaking about 50,000 to support the victims of 911 terrorist attack in NY? These uninformed, haters are so out of touch for those who left the poverty mentality! This professor offends me, so I’ve had many tough conversations with my former political science teacher. We debated with each other throughout the entire semester..when I passed all my finals with an A... he suggested I become a lobbyist! I believe it was it was a great compliment. On a different note, my daughter who had to grow up without a father due to a car accident..she worked went to College an now has 8 AA degrees and 2 BA degrees and now Manages a Company and does not allow individuals any whinnying!! She shares all the stories with me regarding the ridiculous excuses this generation of supposed adults make for not coming to work!! Ha ha. These youth need to get a reality kick! Or maybe attempt to work for my daughter..lol 😉😆🎤💌🙇🏻♀️🔑🙏🇺🇸
That 18 year old doesn't have a damned clue that socialism DOES NOT "give the power back to the people". That must be a freaking joke. Also she made a comment about millennials... At 18 years old she is not a millennial.
Her organization protests and sue people. Disrupt the border situation, they hate cops. Love BLM. A horrible org shes with little curly haired millennial
@William Laidlow Your point is well taken . How ever capitalism in the form of feudalism has been around a while . It is said the crossbow helped end feudalism I believe one of the greatest gifts our country has is the public school system , which helps socialize our capital system . Mexico practically 100% capitalist and you don"t see us sneaking across their border . Capitalism seeks to focus capital in the hands of those who some feel "deserve " it ( and you notice no one affluent ever admits to inheriting anything like maybe 148 million dollars ) but capitalism is a good motivator . Socialism seeks to spread more wealth ( was it Henry Ford who said I can not sell my sell my cars if my workers can not afford to buy my cars ) to some who may not "deserve" it . My fear is that feudalism is the natural order and the American middle class was merely a bump in mankind's road .
@William Laidlow I hope you are right . Sometimes I fear feudalism is the natural order of man and a strong middle class was just an atypical incident .
I did a google search for one thing or another a few days ago and when I was searching for the price of lifestyles in different countries the number one search result on every other google search was "How to move to X and live off of your social security" Boomers... you raised a generation of whimps.
I love how Stewart is so proud that he got rich by playing the stock market, which is as much gambling and as little work as buying lottery tickets, or playing the tables in Vegas. Herman Cain even holds up risking everything as a primary component to success in his ideal system. Guys who consistently risk it all to get rich, whether as investors, or entrepreneurs, but haven't quite managed to hit on that next big thing are thought of as shiftless losers and afforded no respect, unless their luck one day changes, and then they are called self made men and afforded nearly unlimited power, glory and future opportunity. They may then extend this status to their friends and family as they so choose. THIS is the true essence of the ideal that these men uphold. The rest is pure pageantry.
@sjcthrn5 But Piven would've destroyed the capitalist idiots on this panel as well. It's just different weight classes... does anyone have a link to the full debate from the 60s? I can't seem to find it anywhere... :'(
The whole premise if the first question is off base. World organizations do dot even keep data on starvation in the US because it is virtually nonexistent. The draw of socialism in America is not what to eat , but who to eat. The hunger that it attempts to quench here is envy and jealousy. They , the socialist, act like the day it is implemented is the day a person making $20,000 starts to make $100,000. In reality all you will get is less rich and a stagnant economy with less productivity. This has been proven worldwide again and again. China on the other hand started increasing productivity when they started allowing private ownership and savings for the people. Just two of the many capitalistic measures.
Item no.1 on the capitalist agenda for argument: don’t let Richard Wolff talk.
I’m to
Item no. 2: use personal anecdotes rather than addressing issues how the are, systemic.
@@casenmanry1981 ikr this is indoctrination
Keep it coming folks. I thought I'd have a chance to see old Ricky say some stuff to the rightists. Instead it's just more of the same obnoxious primary school behaviour.
Of course he didn’t let his talk he thinks China is a communist country
Poor Richard Wolff. He's a doctor in economics who has debated and written more about the subject of Economics then anyone one in the "panel"or audience. We have Caine and Varney using personal anecdotes to justify their positions. No substantial evidence. No well thought out positions supported by facts or any type of numerical evidence. Just "I took biscuits to school with no meat..", the same old "pick yourself up by the boot straps like I did" that lead a conversation no where.
great comment Angel Gonzalez
I mean... it’s true tho 😂🤷🏼♂️
That is the problem with capitalists. A lot of them do not know economic theory, they simply use anecdotal evidence. They argue with quite literally some of the smartest economists in the world and act like they know better. It's sad, and it is leading to a seriously alarming state of the world. Imagine if people believed those with research in economics like Richard Wolff.
Of course he didn’t let his talk he thinks China is a communist country
"I was poor and now im rich so capitalism good" is the extent of their arguments here. if you gave Wolff more than ten seconds to talk and a moderator who wasn't so incredibly biased that he was arguing with Wolff more than the other two were, then you could have a productive conversation. But its fox news so I could never expect a fair and balanced conversation that doesn't benefit the company's wealth shareholders
@RoastWorthy No, wolff can't debate because he doesn't have enough time to talk. He is very much used to making long, drawn out points that take five or ten minutes to fully articulate, he is not good at this very fast paced debate. A much better contender for this kind of debate would be kyle kulinski or Hasan Piker (prolly spelled wrong but oh well). fox new that this was very much not wolffs element and that is PRECICLY why they had him on, because they aren't looking to take a nuanced look at both side of an issue, they want to reinforce the beliefs of their dumb boomer audience. Also im very much not poor and still hate capitalism soooooooo
@RoastWorthy He doesn't make the argument that a society with people in poverty is bad - he makes the argument that being impoverished should look different. There should be a baseline of sorts - even when you are in poverty, you should have the right to medical care, education, housing, etc.
Of course he didn’t let Richard talk he thinks China is communist country hahaha
rubbish, capitalism makes things better , cheaper and more abundant , if you want lefty rubbish go to cuba
@@ethanhoefler181 Did you mention Hasan ( an Entertainer ) as an actual contender in a serious discussion. If that's where you get your ideas, have you really put that much thought in it in the first place?
Audience is laughing at the rich people who say Margareth Thatcher brought up UK economy back up. Love it
"I used the capital to gain capital."
Circular logic.
@@BuckyTheN00b2 no, its called capital accumulation.
He used the capital to employ people in a poor people to improve there life look it as you will you socialist
"Socialism is when the government does stuff, and the more stuff it does, the more socialister it is." - Carl Marks
"It takes money to make money"
--Santa Clause
Yeah that's exactly what socialism is.
Socialism is inherently violent, requires confiscation and expropriation to be implemented.
That requires an authoritarian body, a GOVERNMENT.
Afeef Tirmizi For marxism-lenninism, sure. But bottom up socialism is also a legitimate means of obtaining public means of production, and is gaining traction. Moreover, this is only in the preliminary phases according to marx. Afterwords, the state would become reduntant
@@quincy8093 The state is supposed to represent the people. It is the voice of the majority, elected by the majority. Saying that the state is some sort of an alien, despotic regime, especially in the context of the US is wrong.
There will ALWAYS be a "state", even if people revolt, the purpose of which is the confiscation of private property for "collective ownership", which would obviously lead to deaths because some people won't just hand over their assets to an angry violent mob.
That angry violent radical mob will ALSO ELECT officials, who will form a GOVERNMENT/STATE, who will have to ensure that there is NO private voluntary trade between individuals for the purpose of benefit or profit, which is essentially what the abstract term "capitalism" means.There are PLENTY of other things that a government/state does, they will ALWAYS exist.
Libertarianism, Marxism, etc. are just meme ideologies. In reality, there can only be 2 economic systems:
1/Mixed economy
2/Planned/Command economy
Then citing someone's arbitrary opinion, like in your case, "Marx", is the equivalent of a Muslim citing the Quranic verses as to how there are 72 white big breasted virgins in paradise, waiting just for you, if you just convert to Islam and do good deeds.
You will obviously disparage the idea, despite the fact that over a billion people believe that to be true.
@@ggt8194 can you cite some examples so we may discuss?
Wealth he made by himself? Does he know what a stock is? This discussion is silly. People really just want compassion and not slavery.
You work hard in sales (phones for example in 90's) and pour your cash into stocks. When interest rates are minuscule you put it into property. But you don't get anywhere if you're not the guy/gal who's smashing targets, getting the commission and now blowing it. In the 80's, directories where big money sales/commission got you started. 2000's Google ad words were mad lucrative. But you had to be in the top 5% in office/sales deck to earn the big cash. Commercial energy contracts was another massive commission opportunity for those who REALLY grafted. Its been rinsed now (and EU regulations were making costs ludicrous, profits tighter and wages smaller) but theres always another on way. These are all examples of jobs where a degree wasn't a gateway to success (Or required).
I lost everything in 2004, back on property ladder now. I've been public sector I've been private sector. The waste, over paying, bad staff and generally awful value for money in public sector is appalling. Obviously theres great people, heros, motivated top people but, unlike private sector, bad staff, poor productivity and sickness levels in public sector is tolerated. The numbers speak volumes.
The biggest change US needs is to bring CEO earnings back to within 50% like in Reagan era and before. Not lunacy like 1400%. Also continuing the aggressive tariffs to ensure manufacturing sector stays and prospers. Tax breaks for families and smaller deposit schemes for 1st time buyers. Make buy to let mortgages very, very different. Banks buy to let mortgages have been a disaster (yet those private landlords aren't part of 1%) The biggest opponents of these ideas aren't all the 1%, its the neo liberals, for example we know now Citibank picked Obamas administration due to wikileaks. These are the people who pushed for signed global trade deals that decimated manufacturing. That wasn't capitalism, Trump or Republicans. It was corruption of lobbying and Clinton who started that. Bush gleefully joined in and showed how there's a political elite with bureaucrats who dont put country first. Obama called bringing manufacturing jobs back 'fantasy', 3% growth bygone days.
Forget hand outs or incentivising single moms via benefits. Tax breaks work! Jobs and growing economy is key to anything.
Less unskilled immigration=Less wage stagnation. Labour and Democrats going neo liberal (or pro EU in UK) and selling out working classes due to guaranteed votes from the 90's onwards has been a disaster
Socialism is using a hammer to catch a fly.
Investing is something one does themselves. There are four ways to make money: Earn a paycheque by being employed. Earn your own income by being self employed, passively through establishing and running a business you front load your labour into in order to produce residual income, or investing into others' business in order to earn passive income. All require one to act themselves. Which you choose to stay in for life is up to you.
He is right, if I own gold or literally any asset that appreciates or depreciates against fiat currency, then I am entitled to the profits and liable to the losses.
If your car appreciates in value, then you sell it for a profit, is anyone else *entitled* to that profit? No.
@@ggt8194 yes. I can argue the car should never have even been made because it was built on the backs of laborers enslaved to an unequal economic relationship. People always pursuing profits are annoying, and are no different than a junkie prostitute constantly chasing that next dollar. Who got the gold out of the ground? And why would that even have been done in a rational world if most people wouldnt put shiney metal as a necessity to life. Annoying things of the rich and prostituting.
@@mattnewhouse1781 Enslaved?! OK, tell me how are they "enslaved" to an unequal economic relationship as you put it?
If I want to be an electrician, plumber, barber, mechanic, street vendor etc. who works independently, so who has "enslaved" me then, the consumer? who could be anyone, then how is a businessperson who employs people any different than a consumer? And unlike the average consumer, the businessperson will have to abide to several regulations, that includes providing social benefits to employees, the barber, mechanic, street vendor don't get those benefits.
If there is a local bakery, the income for that bakery is mostly dependent on those who live in that neighborhood, block, etc. right? I mean its all semantics. What if he has competition and has to share the market. Too bad?!
A prostitute can choose to work independently for clients or sign up for an adult company. In both circumstances, there will be terms and condition, compromises, etc.
As far as the addiction to luxury consumption goes, well that's a totally different subject. I have mixed opinions on that because that imo is like saying that people should stop lying, or just stop being bad. We know that's never going to happen. People when able are going to be attracted to and consume high quality goods and services. Reminds you of Germany before the reunification, how those in the East were just naturally inclined to Western luxury.
Now I support unions and quality social services like in most modern countries that would level the playing field but this apparent loathe for businesses especially when they do well is ridiculous and leftist economic ideology is so flawed that it wouldn't take much effort to crack it.
Can't believe nobody's talking about this man having to walk to school everyday without any meat for his biscuits! lmao
because no one here was disrespectful until you came and put this irrelevant and disturbing comment. Nothing laughable. We respect such people. It seems you have some sadistic issues.
@@theblindowl3828 I mean, he's clearly a successful person, so guess he earns some respect for that. But as a debater he would be subpar even when compared to your average high-schooler. He completely botched his argument, which essentially boils down to "I made it from poverty so everything's fine...", well guess what? Even in North Korea they have a few thousand who make it from rags to riches every year. His position is such an easy one: he can argue numbers, compare to some communist countries if he wants(like Varney did) at which point it falls on the other side to build a case. He can even yield the point that people are suffering in the States and point to regulations on medicine jacking up prices, wallstreet bailouts balooning the debts, etc. He chose just about the worst possible angle, so some ridicule surely is in order.
@@iverbrnstad791 Well maybe his point completely flew over your head? His argument wasn't "hey i'm successful so its okay!"? Not sure where you even got that idea from.. His argument is that he also endured poverty and barely had anything to eat. And claims that food is readily available if your willing to work for it. Here is this fattass chick crying about people going hungry.. The irony is hystorical. The United States is the fattest country in the world. People struggle to maintain a healthy weight in the U.S because food is so readily available at an affordable price.. As you can clearly see from the girl who was arguing about kids going hungry (needing to lose weight..)
Herman argument was that food is easily attainable if people are willing to work for it just like he did and just like everyone else does. He clearly says it at 13:58 . the only thing that should be ridicule here is your line of reasoning..
@@Diabolical05 Her weight is entirely irrelevant to the topic at hand. Though I guess you being as dim as this dude, who literally killed himself by failing to take proper precautions against covid, would think "she fat lul" constitutes an argument.
Her point to poor kids was an illustration of how many people in America struggle with poverty, many even while working full time, in some cases this means starving kids. USDA estimates that some 11 million kids live in food insecure homes. Just because America also has an obesity epidemic doesn't make it less of a problem.
The reason for bringing up kids specifically is that they shouldn't be expected to "just work for it", yet many of them go hungry. You could blame their parents, if you'd like, but that doesn't fix anything. Most would agree that kids going hungry is a symptom of greater failings of the society. Herman Cain bringing up him going hungry while growing up, yet making it due to hard work, is basically as relevant as bringing up T-Series as a counterargument to slums being a problem in India. It's an anecdote which parallels have been found in every society in history. So unless the argument being answered was "it is impossible to go from poor to rich in America", which noone in good faith would argue, then it really is completely irrelevant.
So yeah, it constitutes little more than a grandpa style "back in my days..." appeal to emotion. As Ben Shapiro would put it: "facts don't care about your feelings".
@@iverbrnstad791 I especially loved at 13:45 when Cain assert that her claim was ALSO false. That dummy was just judo thown into quite belligerently asserting that his argument was false.
China started growing economically after they introduced capitalism.
Growing under heavy socialised influences. Growing under a mixed economy - which is exactly the kind of thing 'democratic socialists' are about.
@@martingoldfreed2627 China is a dictatorship
@@uare5740 It definitely is!
Two words: slave labour
China is a socialist country with a little bit capitalism thrown in!
stuart varney: “capitalism creates innovation”
also stuart varney: “i got rich by gambling on the stock market”
“i got rich because people need places to live and that makes me better than you”
Yes he did make it off the stock market and I will tell you why, because he had capital to invest in the stock market. Do you think you would have enough money to invest in the stock market under socialism.
Richard Wolff always lays the smack down on capitalism.
friends，please tell me which is right?
When during the Trump administration the bottom 1/5th of wage earners had their incomes rise the fastest of all groups. That was the first time that had happened since the George W Bush administration.
Because both Trump and W. used Kennedy's theory of using lower taxes, less immigration, deregulation, and smaller government to tighten up the labor market. Which raises wages, allows mobility, allows for advancement, and gives people dignity.
Compare that to the Democrat policies of using high taxes, over regulation, open immigration, and big government to put permanent slack into the labor market. Which drives down wages and drives up housing prices at the same time, to the point tens of millions of people don't have any money left over at the end of the month. And it's the low wages at the bottom that allows the excesses at the top, causing the wealth gap.
Raising the bottom 1/5th of wage earners wealth relative to everyone else is something liberals will never be able to do because of their policies.
Nope, the problems socialists blame on capitalism are actually caused by big government Liberalism.
😂 no he doesn’t
Wow almost half the country wants socialism..
Dr Wolff making a lot of sense 👌🏻
@AC Milan Blog 1899 Channel Can't wait! :D
@@eoin4172 The capitalist spend a lot of time creating needs that are unnecessary like all the luxury goods. Capitalists need police and military violence to defend the profit system. To win the battle of the market the Generals who can discharge more troops are the winners in the battle for market share. Yes the capitalist who loses is eaten up by his fellow capitalists who are motivated by the instincts of the cannibal.
@@kimobrien. Left...the best masters of the obvious...with no real solutions
@@mattheweven4764 Our solution to the capitalist wars and economic crisis is for the working people to take power from the capitalists, their government and their parties.
@@eoin4172 Yes the US Federal and State gulags are setting records for the numbers locked away and under cop supervision beating those of Stalin. Obviously capitalism is winning the battle of the gulag.
china’s growth model cannot be replicated in other parts of the world, it is based on huge labor surplus and state owned property as a financing vehicle. It is actually a combination of capitalism and socialism, i.e. market oriented economy with Chinese characteristics
I'm sure Wolff would agree but the question was about economic successes of socialism. He was not advocating for a centralised state capitalist system.
Jian Bai
Chinese wages have grown rapidly and a new huge middle class is beginning to emerge.
State capitalism and it has been Replicated in Brazil, Japan, S. Korea, Norway, Germany and anywhere else that has a national development bank.
Also they stole billions from the biggest economy in the world, the US. Thanks to these crooked politicians who have been giving this country away by the chunks.
@@KCN8er those countries have been prospering since.
Priorities.....the $ 700.00 Air Jordan Nikes/ 1,000 Apple iPhone/ iPad and tattoos.... man i choose to sleep with a roof over my head
"China has grown and produced more than the united states in the recent decades" - well, seeing as our capitalists invested all of their money in chinese labor and factories, yeah, I can see that. Remove foreign capitalist investment (whether from the United States or otherwise), and china would not be the economic powerhouse that it is today. Plain and simple.
Yeah exactly.
@MichaelAngelo RevSantee they also hold our debt.....nitwit
capitalism failed in Germany in 1930's and it hasn't fix the former GDR either. I'm sure Stuart, Maria and Trish have talked about this.....LOL!!!!
NOTTTT!!!!.......NEIN!!!!
How do you know. What stitsical indicators do you have to prove that aside from 'cOmmOn SenSE c0NtHerVAtITHm'.
King Mack
Socialism couldn't exist without Capitalism to support it, until their money runs out.
King Mack; I think it should be illegal to invest in any Communist or tyrannical regime.
How un-American can you get! 😡😡😡
Gee I wonder how he got rich investing in stocks in the 90's. sounds like you need CAPITAL to do that!
no no.. just need daddys money.. and a politician to bribe.. once you have money.. you never work again. you get a free ride.
@@stumpedii8639 Or maybe.. He actually worked as a young adult and believe it or not.. SAVED HIS MONEY? so he can then reinvest it into stocks? Capital doesn't come from no where.
Ya, they never talk about how they got the money to invest in the first place, and even then, the model of success they present is just a gamble game that fails more often than it succeeds. How many times you could invest in a stock or a bond and make wealth out of small start? 99%? 89%? We are talking about productivity, about work, about sweat, which could only create real and systematic wealth for all, not a gamble that works only for few at the expense of the rest. The workers create the wealth in society, and the workers are the class that suffers the consequences of the the exploitation. It is the work surplus which creates the wealth and which goes the few at the top who take all the credit for creating it. That is simple theft or robbery if you consider the element of power that the ones on the top have over the workers.
AC Milan Blog 1899 Channel I’m a self employed independent thinker. I don’t promote socialism.
A Dalis Spot on!
personal responsibility for the needy, socialism for the greedy.
.... or the other way around.
None of these people know what socialism is. Its hilarious.
enlighten us then, almighty commie.
@@lordscav3794 Well they all seem to compare hardcore communism vs capitalism.
Socialism where the government owns the means of production and hands out the goodies but what it really is is unsociable people getting what they want by using the power of government to extract resources from others at gunpoint the cowards don't even have the balls to rob people themselves.
@@Barskor1 no that would be communism. You're describing a planned economy. You can have a socialistic market economy via employee owned companies, cooperatives, etc
@@Barskor1 Socialism is where workers own the means of production
This whole 4 part series should start off with what we mean by capitalism and socialism.
If you don't agree on exactly what you mean by capitalism/socialism, how can you argue
one in favor of the other. This whole first discussion was as clear as mud.
capitalism works in creating wealth...socialism works in redistributing wealth. There is no point in arguing that socialism works better in creating wealth...just as there is no point to argue that capitalism works better in redistributing wealth...The mechanism that capitalism uses to redistribute wealth is called trickle-down economics is resulting in unprecedented wealth inequality that the top 10 richest people in the world own as much as the bottom 50%. This is unprecedented wealth disparity worse than the days of the kings and queens. So if we cut out the ideology and personal anecdotes ...the world needs both capitalism and socialism ....just as a person needs to inhale to get oxygen and exhale to redistribute the oxygen to the entire body even those parts that did not work for it in some sense if you want the person as a whole to survive.
this wasn't even a conversation
You expect an honest ideological discussion on fox?!
Raymond Sisneros
Yeah, I won't waste my time watching more...thirty seconds in reminds me why I never watch fox. Insufferable elitists talking over their guests.
Democratic Socialism is VERY DIFFERENT from pure socialism
@@lucaswyatt Sure it is.
Lou Palumbo ikr
"I think it's a good thing smart people who work hard become rich".
*Guy in audience shakes his head no*...
He probably pays his tree farm workers minimum wage or lesds.prob hires illegal imagrints.
There is no linkage between smart people and the rich other than the say so of the rich who attend elite Poison Ivy universities. Those who work hardest like farmworkers get the lowest wages. Those who do the least walk to the mailbox every three months for a dividend check.
@Evan Scammell Right he would have been so much more valuable if he done something like George Soros and shorted the Bank of England for a 9 Billion pounds sterling. No wonder the rest of the Billionaire class are afraid of Soros he could short them tomorrow and leave them sitting outside of the homeless shelter the next day.
cos that pipe dream is sold to us as for us not questioning why it so rarely pans out for smart & hard-working people all over to achieve the standard of living of their parent generation let alone surpass it.
@@davidgoff357 He creates the jobs, those who work are glad for it, if he hires illegals it means those people want to earn a living and not be a drain on society. What he pays them is his business, not yours or mine. I hope to as successful as he is someday.
We need a government of action, to fight for working families. ☭
Government just needs to stay out of our welfare good or bad
"Capitalism vs. Socialism" presented by Fox News....what could possibly go wrong? 🙄
Nothing
@BrunDog63 Wolff is pretty smart. I agree he didn't do well here, because the China thing is really, really dumb. However his lectures on democracy in the workplace are pretty great. He's a great critic of capitalism as well.
@BrunDog63 Sure, democratic socialism and actual socialism are conflated all the time. I'm fairly sure Wolff is a socialist, so pairing him with someone from the DSA is pretty weird.
@@TheMrMacintosh Wolff is a democratic socialist. Also, he's not that smart. I used to think he was too, but now I know that 1: a revolution is necessary and 2: he gets a ton wrong in his updates about the history of socialism. He also doesn't seem to understand my ideology, anarchism, which you can tell from when he was asked about Noam Chomsky. Chomsky is an incredibly smart speaker.
@@cftpafan Democratic Socialism is capitalism with social democratic traitors in charge.
The failure of capitalism is the failure to trickle down money. Need socialist programs (minimum living wages, health coverage for all, job security, and others) since money isn't trickling down.
Buddy Phelps
There! Your brief comment was more educated than the three fox babblers combined!
Actually it is trickling down, that why nobody has money.
Lou is correct, professor is just a talker!
If you cant do, teach. Story of higher educations decline. He is only a professor because all the smarter people got real jobs.
@Elliott Bronstein Don't waste your time on these fools Elliot. "It is much easier to fool a man than convince them they have been fooled" - Mark Twain. These people are bred, born and brainwashed fools who think there is dignity in licking a boot for a penny. Save yourself the despair
@@davidjohnson8655 Richard Wolff is a prominent economist and a graduate of Harvard _and_ Yale _and_ Stanford. He understands economics much more than a guy who owns a pizza business and a guy who got rich flipping houses.
If he understands it so well why does he state “facts” without context. The China growth higher than the US while still the second largest economy. They have built their wealth on the backs of the people and the money of capitalist societies.. The same people that have less than most here in this country. So where is their wealth going? If China is the only success story that you got you know it is a failing economic system.
For Pete’s sake, that guy tried to say China’s economic improvement was not due to its embracing of capitalism. Sad!
He brought evidence and historical facts. What evidence do you bring to back up your point because the guy in the video sure didnt?
@@JevPrivate I don't think enslave peasants it's an fair way to get an industrial society.
@R. W socialism brings up the bottom capitalism brings up the top. It's redistribution of the wealth brought by a market economy. Socialism can't exist without a market system on all none essential industries.
It's funny how rich people act like they're doing everybody else a favor by being rich.
Fox. Business. Making Money. Yup I'm sure this'll be a fair and balanced debate.
" I gained wealth by buying and selling imaginary numbers"
What's the point in trying to innovate and make things better if any profit from that will be taken away?
That's sorta why Communism/Socialism doesn't work. Then again, Advancement does take place once those who are to advance anything have a gun barrel pointed to their heads.
What happens is that people with ideas and ability will go elsewhere if they start to be taxed too much! Human nature is like that! Just look who made China - from peasant country to a rival of USA???..... better profits! You could not be unemployed in socialism like Soviet U. so there was disincentive to fire people, because they would have to get a job anyway in another Gov company! Why then would you apply yourself to a job if you can read newspaper and bum around instead!?
taxes are already taken away from people's wages, profits and innovations
if you still live in a free and peaceful country you won't leave, more than likely
plenty of countries in Europe still have a good business environment and they're not poor countries
In Communist China they let you live another day?
malrofo
I also cannot grasp this idea, it's not like socialist USSR was the first country that send a human to space, created electric music or made many technological inventions 🤔
The only person that even said a single word of sense in this whole video never got to even finish his point. Pretty much what I expected in a "town hall".
I wish they would stop saying socialism and call it what it is COMMUNISM!
Totally agree
Right, at least call a spade a spade. Same endings
Those who forget history are doomed to repeat it.
So, the GOP?
Jed Knight ya I can’t believe people don’t realize how many times capitalism has failed.
@@communistpowerranger9629 It's not Capitalism that fails. It's greed. People taking more than they need, and using ever dirty trick to make sure those who do, never get it.
Michael Dell came up with the same "socialism never worked" slogan in Davos and got schooled by an MIT professor ua-cam.com/video/MBGmBkdMKAc/v-deo.html
@@jedknight4389 Capitalism fosters greed. You can't expect things to work based on people just being nice, specially when the system itself gives you full incentive not to be.
Hmm, FOX asks its viewers whether capitalism or socialism is better, and they can only choose one. I wonder what will happen...
You get ignorant liberals who come to debate and deflect when they get proven wrong.
Liberals that love Freeez start to think their opinion matters.....
let's see, the choice is easy---free markets and capitalism have lifted BILLIONS out of poverty; socialism has created hundreds of millions of poor, and murdered another 150 million.
@@aeroeng22 Anddd~... Scott just falls hook line & sinker for the FOX propaganda.
Better for the ego? Better of everybody? Better for the ego of everyone?
Mark Twain quote. '' When I was eighteen my ole man was the dumbest person to walk the face of the earth. I can't believe how much he learned by the time I was 24.
You'd have to increase that to at least 30 years old nowadays.
Michael Sever thats a great quote, the problem is these kids are taking a lot longer to grow up coz we have to panda to their every whim. Brainwashed by these socialist ideologies that is served up in all the universities in the UK and US
Gene Brownless and everywhere else in the west
@@frankspencer5602 omfg do you think pander is spelled 'panda' you guys are hilariously stupid.
@@samjames995555 Twain also started the American anti Imperialist league.
Homeless children "mostly" exist due to loser parents. Homeless is not a joke. But Churches help... more than Gov
Most are ran by Democrats. Everything starts at home your right.
KAYE BROUSSARD By aiding homelessness more homelessness is created.
@@tylerkrepps1530 yep... my point
@@foxxymoxxy2433 and that's why there is so much homeless Dems are dumb.. especially here in CA
churches are subsidized by the government
It is immoral to take what is not yours. Therefore, there is no virtue to socialism.
You need some serious education regarding Socialism and Capitalism.
@@maryjeanjones1940 Are you suggesting that the redistribution of the wealth under socialism is VOLUNTARY?
@@joeblow1942 - I don't remember making any comment on either one of this topics. I certainly know the definition of both. Where did the original comment originate from so I can see what it was pertaining to?
Mary Jean Jones Read my first comment again and then read your first comment again. Theft is immoral. Socialism relies on the redistribution of wealth at gunpoint. That is theft. How much more clear can I make it?
@@joeblow1942 - No problem. Only, I don't see 1st comment that was mine. I don't remember being part of this conversation. Where does one find the original comments? I certainly don't remember reading anything about distribution of wealth by gun point. That's absurd.
Lmao why do varney and Cain get so personal and angry? The young lady and Wolff were very calm and explained their own cases.
Because those men have real world experience, and when outside Gov or power (Soros) find a way to prop up idiots with money thru our university system, then succeed at putting idiots at the front to drive our train down the mountain that is irreversible, Yes it is personal to them. If people want to live in State control society, they need to go to such a place and live. Not bring it here and take from the Do-ers of this country.
@@MajorLeagueGlass Really? Where do you get your ideas from? You did know that George Soros is a hedge fund capitalist, right? He's the LAST guy to support Socialism with the stated aim of eliminating capitalists like him. Get a clue, dude. Stop looking at those conspiracy theory websites like InfoWars.
They get mad because they both know that socialism doesn’t work. It sounds great, “everybody will be taken care of!” The reality is the lowering of the quality of life so that we are all equally miserable except the government elite.
Remember China has deeply relied on America’s wealth. Now China is struggling due to the tariffs and long as other country’s are willing to pay all things are great but when they stop well you see what’s happening now.
That doesn't make any sense.... We owe THEM money
@@vinayakb5739 no we don't
@@grinnifer Impressive. I guess we just can just unilaterally wipe out the long-term debt securities that China purchased from us in exchange for up-front cash lending which they deployed to the U.S. Treasury. I'm sure the Chinese government will be completely fine getting those trillions back that they're due.
all of those folks that think socialism works, needs to move someplace where they have it and see how they get along. why should those that work their butt off be penalized for their effort???? believe it or not, not everyone gets a trophy.
No one has where in the world does the people own and control the means of production and experiencing full labor value not to mention the dollar and inflation added into the equation of selling labor
the argument from those pro-capitalism was just "capitalism is good because I managed to get rich"
That's exactly why it's good because everyone has a chance to work hard and get rich
@@ChaimGoldstein-ff8re but not everyone can. there must always be workers, who do the actual labour and do not just sit around owning things and reaping the profits of their employees work.
those workers cannot support themselves or their families on the chance to maybe get rich one day.
@@arborrhys9162 it's a very long argument trust me but overall the system the Great US has is the best no system is perfect but we must thank God for this one
LOL exactly. And I think it's ridiculous how the black guy says he "risked" to get himself there. Right, so whatabout all the other people that risked and failed, and suffered? This is classic survival/selection bias. If you only look at the rich and do what they do assuming that is the recipe for success, without considering everyone else that did the same exact stuff they did but DIDN'T succeed.
@@ChaimGoldstein-ff8re "It's a very long argument."
..."Thank god"
Yeah I don't think it is. I'm pretty sure you have no argument and also very little reasoning capabilities at all. Basically, it's a long argument but you're an idiot, trust me. ROFL.
As Arbor Rhys said, capitalism is essentially a pyramid scheme. If you keep doing it long enough you too can get enough people under you to exploit so you don't have to do anything! It's the American dream!
Fox news should have more of such programmes. Not those kind of one sided propaganda by subjective ppl.
Fox had that idiot and loser, Bernie, on last month, so I would hardly say they are "one sided."
Fox continually has left minded thinkers on. Not just to debate, some panels even include democrats on daily shows.
All high schools need Trade classes so kids can graduate with a Skill in an Employable Trade at 18 years old.
Nursing
Construction
Cosmology
Dental hygienist
Business management
Human Resources
Social Worker
Etc..
These classes can start in 9th grade.
In other words my tax money should go to cover the business owner's training costs. No rugged individualism for the rich eh?
Hmm that makes too much sense. It would never work in the US
I greatly respect the trades and craftsmen or craftswomen however as a pipefitter I was starved out in the 80's where now they are back in demand . I have thrived as a nurse , there is no path that guarantees success but hard work will improve the odds . And no one works harder then nurse aides and they barely make minimum wage .
@@drakadog7405 I always thought I would do well as an electronic technician until that whole industry left for Mexico and latter China.
@@kimobrien. At the present any tech jobs are doing pretty good with our rush towards automation .The question is how will they do in 10-20 years depending on your time in the work force , There is a HUGE demand for nurses and a HORRIBLE nursing shortage coming . no mater what we do we will not be able to train enough nurses on time .
people think jobs grow on trees instead of being created by someone willing to risk their own money to make it happen.
You mean people that are born rich create low paying trash jobs. And we should be grateful. False conscious: When working people are tricked into accepting their exploitation.
@@patrickcorrea6295 No one tricked a worker into accepting a job. If you think your labor is more valuable than you are paid for it, then find someone willing to pay more or build your own business.
@@patrickcorrea6295 You're absolutely right
@@multiHappyHacker That's the problem with these people. They just want handouts. No balls to risk what it takes to make it.
Sad Socialists: "It's a terrible world out there, please gimme gimme. Wah wah wah... I don't know how to make it out there. Govna sir, please help spread the wealth cause that person's got money I want.. I mean need."
Smart person willing to work hard: "Gimme that dollar and I'll make 2 out of it." (edit: Smart )
@@patrickcorrea6295 No, people who see a niche that needs to be filled and takes a risk, look at Bill Gates and Steve Jobs, not rich but are now,
Socialism is an old way of thinking.
Capitalism is older
@@atb1040 hello there comrade
Prostitution in 3000 BC? Pretty sure that's capitalism 😂😂
An old way of thinking Jesus heartily endorsed.
@@alandoane9168 Jesus was a Communist.
The young kids today the schools did this to them .. our school system sucks..our kids dont even know about 9/11..
@Anthony Gomes Just take a look at the Democrats run states and citys.. let's face it also starts at home how theses kids think... but schools do have a great influence.
I'm a complete Lefty, and what I love about Fox is they're not afraid to have talks like this. Won't see this on MSNBC or CNN.
Given the trends of automation and AI alone in the past decade, adopting certain forms of socialism is inevitable to reduce extreme income inequality.
No, it will mean the prices for everything will drop to such lows that even earning a pittance will be enough to live comfortably.
@@Barskor1 Working a 40 hr min wage job isn't nearly enough to live comfortably right now....
@@2FadeMusic Do you know why that is? The government takes 50% of their earnings in many different ways. Inflation, fees, tariffs, licencing, regulations and taxes.
“Everyone wants to live at the expense of the state. They forget that the state lives at the expense of everyone.”
― Frederick Bastiat
Yeam, socialism is when everyone is equally poor? Don't repeat a soviet mistake, it's impossible to calculate and predict human's needs.
Where’s Thomas Sowell? He should’ve been here.
Relax Jaxx Thomas Sowell is too smart for these Hacks ☝️
@@ac9tmonthe
Very True
However,
he went on Crowder!?!
Charlie Angel
I’m not surprised with your choice of words. Your all alike... CRAZY! ua-cam.com/video/QEidCVusDkY/v-deo.html
Sowell is basically retired. He only interviews with close friends anymore.
Who?
I'm a millennial, and I believe too many of us are crybabies that aren't use to having our way. Put your boots on, and suck it up.
More like LICK that BOOT, isn't that right, bootlicking sucker?
What an utterly terrible formatting of debate. People are getting less than a minute to respond to the question, which is insufficient to even begin building a coherent and articulate argument. This advantages those who can use sound bytes and mindless catchphrases over those who would actually approach the nuance of the topic.
Then you have a biased moderator trying to be a participant on his side of the debate, rather than actually moderating stuff like time allocation, interruptions etc. The pro-capitalist side people are comically ignorant of the specific points the pro-socialists have to make and instead use generic, strawman assumptions like "Socialists are/think/do [insert unflattering stereotype]" rather than make an effort to understand the precise arguments made by Dr. Wolff and Ms Cunningham-- arguments which of course they don't get any adequate time to elaborate upon.
Varney: "I did it by myself!"
No, you didn't. In order to get rich off the stock market, you need to invest in successful companies, of which the employees contribute directly to their successful operations. Because of the hard work and dedication of those employees, only then did you become rich off the market.
I can't believe no one has said China grew from capitalist money being spent on manufacturing our products over there.
That plus they switched to private owned companies in 1978 till now its most of their economy
PLUS How well is China really doing? There's no freedom of speech there. Some believe the unemployment rate of China is actually a lot higher than what they claim it to be.
Eugene I’ve been there 30 times. They can speak freely but not too publicly like on TV. So if someone hears you say something bad and it’s reported nothing will be done.... but if you go on national tv and speak out too harshly you’ve got problems. As for their employment, most people say it’s hard to hire there now so they are automating with machinery more and more. Also people are now buying cars and apartments... they are really growing but yea they have all kinds of problems too.
Maverick_is _right_ Yeah I didn’t mean 100% inability of freedom of speech but they indeed have major problems with transparency.
Eugene yes they do but thank goodness they at least are using capitalism to create some freedom..... and meanwhile many Americans want to go backwards back to socialism
China's economy began to grow when they adopted more free market policies in agriculture and industry. I think attributing that growth to socialist policies is misleading.
Exactly, they had to make Hong kong a free trade zone before any growth could be made in China
Socialism is not a victimless crime.
Varney is the literal definition definition of the dunning Kruger effect.
LOL XD
Rikishade1 I would agree. Mr. Varney most likely is far more brilliant and intelligent than he would lead us to believe.
I find it incredibly hilarious how we are having a debate on this topic in 2019... It is so blatantly obvious Capitalism is the only economic philosophy that can pull people out of poverty.
Yet we have tens of millions in poverty. Interesting
@Dougie the poor of today still struggle month to month for bare necessities. They have more money but the cost of living has also skyrocketed
@@AnthonyCheeseborough no one claimed capatilism cures all poorness just that it gives the best opportunity for the poor to become wealthier
@@AnthonyCheeseborough define "poverty"
InFa Nate //the state of being extremely poor. So what’s the argument here? Tens of millions in poverty. The statements here (obviously made by right wingers) don’t make any logical sense. The poverty line wasn’t always $12,000 in America, #1. It’s OBVIOUS that this capitalist structure doesn’t provide those opportunities the way it thinks it does, #2. I hate to break the news but Herman Cain is wrong. People don’t CHOOSE to stay in poverty. It takes money to make money, here. That’s where capitalism has led to. The more money you want, the more you need, ESPECIALLY starting from NET 0 which I’m sure NOBODY here can personally shed light on the difficulties of. “You can’t pull yourself up by the bootstraps of the boots you don’t have” is a quote that refers to capitalism, not a lack of initiative.
This should not merit a town hall discussion. Educators are not doing their jobs.
Exactly why the alt-Reich wants to cut education.
@@jonb3189 It's ironic that you say this, when the Democrat Party has more in common with the German Nazis than American conservatives...and this is an observation by a libertarian.
@@clarissadanae7370 "This is an observation by a libertarian", well now wonder it sounds ridiculous.
@@clarissadanae7370 You sound ridiculous. Get an education (and go to a State school, it's cheaper).
@@jonb3189 Typical. Quick to hurl personal insults and slow to respond with facts. In any debate forum, that is when you lose....besides I'm far more educated then you give me credit for. After getting your degree and your masters, the best skills you ever truly learn is how to teach yourself.
North Europeans are actually socialism. China is socialism+free economy. Now America is actually old school.
The only way purchasable economic value gets created is if people do labor. A person who receives wages is a laborer. A person who's income comes from capital is a capitalist - a person who has other people do the labor for them. Capitalism doesn't allow anywhere near everyone to become a capitalist because someone needs to do the actual work that generates the value.
You can work and invest in capital at the same time.
I'm Venezuelan for the sake of the world and your beautiful country, please don't let socialists take control of anything.
Socialism always work. You gets always the same results. More poverty.
Really? Because capitalism is creating mass poverty well on its own. Close 80% of Americans love paycheck to paycheck. 50%, that's one in two, are in poverty or close to it.
@@soberanisfam1323
So capitalism creates more poverty?
@@soberanisfam1323
So by your own definition the rest of the world especially 3rd world countries are using capitalism.
@@soberanisfam1323
Paycheck to paycheck? Because we loves to spend money by buy stuffs that we don't need, but we want.
@@soberanisfam1323 they live paycheck to paycheck but, most which have smart phones, cable TV, and internet. It sounds to me like they just aren't spending their money the right way.
Ever notice that the ones who WANT socialism have never lived in a socialist country?
Ask someone from Cuba or Russia or Venezuela or Afghanistan or Cambodia or Italy and see how that worked out and WHY they left
FFs ask someone who has had their child die becasue their insurance wasn't valid, If they would rather live in the UK. See anecdotal examples are pointless.
Some of these people asking for a socialist society don’t know what the heck they’re really asking for.
That's because they have stopped teaching the dangers and correlation of socialism with communism and dictatorships in school by design
@@guyatkins9482 I would agree,
The best country to live in is norway ranked by the UN and soscialist so stfu
KaptainBasketball Its Also a welfare state and was under rule by the Norwegian workers parti and the socialist letft under the Discovery of the oil and the adaptaision of the norwegian oil fond wich is what most american Expert point to when they talk about the the capitalist market structure. And besides that the left socialist side holds the majority of the seats in the parlament.
Nobody is REQUIRED to sell their labor in America. If you have the balls to take a capital risk with your labor, nobody is stopping you.
You right nobody is stopping us from being ruled by the corporate masters. Nobody is stopping others from freedom. Oh except the U.S. Government who invades other countries since forever. To tell them how to run their countries.
@@patrickcorrea6295 If your gripes are with the government then I have news for you. You're a capitalist.
Patrick Correa what has govt invading other countries got to do with socialism and capitalism?
@@kevinobyrne8020 Ha! So true! Socialist: "The government sucks and is corrupt. Let's give the government all our money so they can decide how to spend it. That will solve the problem."
Richard Wolff never endorsed Chinese socialism. He used it as an example.
And a poor one at that, which did nothing but show his own utter ignorance of economics.
1. China's growth came from 3rd world to developed world over that period of time, equivalent to what the US experienced in the late 1700s and 1800s. To compare current trends of the US to that of China's revolution is laughably absurd, and would get you immediately discredited from any academic journal for such horrendously stupid claims. If one compares the economic growth of the US industrial revolution to that of China's, you will note many similarities. Namely, the same sorts of equal rights and human treatment to boot. To argue that China, which achieved this growth only when the government relinquished control of businesses and allowed private ownership to flourish, is an example of socialism doing it faster than anywhere else is 100% factually incorrect. It was private ownership through the use of what is essentially slave labour to accomplish this, no different from the cotton fields of the US prior to the civil war.
2. The ability for China to achieve this rapid growth was contingent on exploiting sweat shop labour for a fraction of the cost of 1st world labour, and thus shifting industrial production away from already established nations and toward theirs. This would not have been achievable without free market capitalism flourishing in the rest of the world, and allowing China to use this as their market advantage in competition. Again, this isn't an argument in favour of socialism, but a testament to how the power of free market capitalism can lift up even the poorest by means of giving their own individual labour value that no socialist or planned economy can.
How a professor of economics would not know this insanely basic knowledge of the field shows just how little intellect is required to make it onto modern campuses. I guess there is a reason they say those who can't do, teach.
@@dostthouevenlogicbrethren1739 - So, socialism really hasn't worked anywhere it was tried and if China's economy is a luxury car, under the hood one finds the engine is capitalism.
It's funny how modern people really think that "capitilsm is all about selfish greed" and "socialsm is about spiritual matter and future of all mankind". Guys, USSR didn't give a sht about future and spiritual matter. USSR was obssesed with "MELTING MORE METAL!!!" - forget about "environmnet protection", what environment means when we ARE BUILDING THE BRIGHT FUTURE OF COMMUNISM? People in USSR were the most greedy and grounded in the universe. You think Americans think too much about consumering? Man, soviet people plotted whole schemes to buy some shitty TV because is cost like 6 month's salaries. Car? You had to sign up in a line for 10 years to be able to buy it. People stood 8 hours in winter in line to buy some fresh mandarines once in a year. Future? Environment protection? Green planet? Haha
The “I got lucky and so can everyone else” is strong with these folk.
ua-cam.com/video/yCm9Ng0bbEQ/v-deo.html
I had a friend try to tell me Democratic Socialism is different from Socialism. When pushed for details, he couldn't name one difference and sheepishly told me he only learned about it from a byline on CNN. I'm sure this is true for most people.
You americans call socialized public services in Scandinavia socialism... We keep trying to tell you we're not socialists... We just invest a bit more money into public safety nets..
Yes, and I'm sure this is an absolutely true story that couldn't at all have been fabricated.
You are the classic example Varney of Money well spent . Congratulations. I wish i could be just like you. A middle aged wealthy Serf who considers personal wealth as a guideline to success. Richard Wolff on the other hand looks at the big picture as opposed to self glorification and self idolatry,and sees the ongoing battle between money grubbing and an actual future in realistic terms for humanity rather than personal gain that seems foreign to you. You wear your monetary success as a badge of honor,never looking beyond to the Bigger Picture. Enjoy your wealth old man. You have learnt nothing along the journey.
Thank you for expressing my exact thoughts! They seem so ashamed of their past for using their success story as an argument for inequality instead of considering the luck in these stories (survivership bias)
Are you really such a naive kid that think that SOCIALISM is about higher matter, about future? Wtf? Soviet union was the most materialistic country on Earth where people only thought about "how to get new TV and jeans. TV costs like 8 my month paychecks and normal jeans I can get only if I travel to another country"
Why can't capitalists criticise socialism without misrepresenting it?
I just want to listen to an economic debate. The clapping gets in the way and everyone keeps interrupting Richard Wolf whos the most intelligent person in that room for the subject they are debating.
13:30 “65% of the students are homeless” !!!!! No way that statistic is correct!
A quick google search reveals it's 1/10. That girl is as dumb as a box of rocks, typical fat socialist entitled whale who whines about not having enough to eat.
Folks, she said the ones she works with. Not all students.
Jackington Kellogers you’re the reason your country is going to die
That’s why his response was “I don’t buy it”
“The state is that great fiction by which everyone tries to live at the expense of everyone else.”
― Frederic Bastiat
“Everyone wants to live at the expense of the state. They forget that the state lives at the expense of everyone.”
― Frederick Bastiat
So, in conclusion everybody lives at the expense of everybody. That is a perfectly fair system.
At least it's much better than two thirds of the people hardly living off their hard work and the other third living well on the fact they let the two thirds work for them.
@@BUFU1610 Sorry BUFU1610 They "TRY" to live at the expense of everyone else not that they succeed in doing so example the ever-increasing gap between the rich and poor that coincides with the increase in socialism and the massive national debts created for the Guns/military industrial complex and Butter/welfare programs.
Also, the attempt to live at the expense of others does not mean they are also working and sharing the "wealth" of their labor.
If you really wanted a solution it would be to end government fiat currency Limited Liability, licensing businesses, insist on the enforcement of criminal laws onto the owners and upper management of corporations IE If the company dumps toxic waste they go to court and then to General population prison not pay fines and do it again the next day as the regulatory system has always permitted.
Capitalism is the lesser evil as it allows an unlimited ceiling of success for anyone who dares to succeed.
Socialism limits an individuals success, making sure the state interest comes first and makes individual freedom contingent on state benefit.
Capitalism=what can I do to earn money from other people.
Socialism=what can I do to take money from other people.
I think its telling that younger generations levitate towards socialism. They seem to think that wealth and financial success is somehow owed and not earned.
Schools have been teaching them this....a lot has changed since I graduated HS and college in the 1990s
@@grinnifer US is greediest country in the world.
@@VideoVidua Who made the initial investment that set everything in motion. Without the initial investor there is no product therefore there is no worker.
Charles Payne my Fav. Varney 2nd. & Lou Dobbs night Best Opinion FBN host.
so what you're saying is... you're a very, very un-critical thinker, who doesn't actually listen to what these fascists say.
@@Somniostatic are you a nut? Everyone wants good info on stock market... oh I get it you have zero $$$
who is Charles Payne ?
@@pocojoyo bussiness news Fox & has a news letter .. one of the best money men & investment advisors. He hasn't been wrong in years
@@kayebroussard2896 riiiiight.
seriously? An 18 year old is going to tell Herman Cain about economics? Unbelievable!
she seems a bit smarter than the socialist professor
Not sure how that’s unbelievable...are you being ageist? I don’t see why an 18 year old can’t be smart....
Yeah, don't these 18 year olds know about nine-nine-nine economic genius herman cain
It doesn't take too much logical thinking to dismantle any argument that the USSR is a good economic model of socialism
Would love to see Professor Richard Wolff on Fox Business again!
I don't care which... Just take the money from.the rich and give to the poor... Whether that happens in socialism or capitalism then I choose that one...
Most rich people on the internet argue for capitalism so I choose socialism
What you said makes absolute sense I applaud you for your decision.
@@laeeqahmed1265 yes I think there's a handful of people who know the system well enough to exploit it, maybe one percent of the population. Out of these people half of them have morals not to exploit people so they dont. Then the half without morals exploit the system and gain pots of gold. So on average the rich maybe 0.5% have a vested interest in maintaining the capitalist system. Hence why most rich people on the internet make tons of videos about the validity of capitalism and failings of socialism
I’m just scared at this point. So many people in our great nation ACTUALLY THINK socialism is a good idea in a country where capitalism and freedom has made us one of the wealthiest and most powerful nations in the world
That was the biggest fear of the founding fathers. That future generations would screw things up.
Why don’t schools teach us how to make money? I understand why math, science, history, reading/writing, etc... but why not economics?
18 year old should not be against OG's , put in with experienced demo socialist and have another forum for younglings
Have to keep pushing the agenda and the agenda is dependency. These children talking are just that, children. They're exhibiting no ambition to climb the ladder of success, they just want it given to them.
They also see what is coming and how the pursuit of profits destroyed America.
The saddest part about this conversation is actual young people not believing that if they put in the time and energy that they can make it.
I think the saddest thing is conservatives who make the assumption that anyone who's impoverished is just lazy
So if america was made up of 300 million clones of bill gates... everyone would be billionaires?
Even sadder are the liberals telling those in poverty that they can't make unless the government helps them. They are literally telling those in poverty that they are incapable of succeding without help from other people.
@@cherylcurtin2940 It's almost as if we live in a society. Go build your own roads then. Go hire you're own fire department... oh wait.
Ok alot of people work hard and get nowhere cause of the greedy capitalist
Could you make a video discussing the differences between capitalism and mercantilism?
If these kids learned the truth about people like Ernesto Guevara, Lenin, Stalin, and Polpot they would seriously reconsider their naive thinking. They are young and they glamorize quite a bit. When i was their age i thought being a hippy was the way to go. Then i got a real job and reality hit. The saddest thing to see is if they never grow out of it.
Maybe AOC will make it work?
@angrykulla and as for the climate change issue, mount Pinatubo put outmore CO2 than all mankind throughout time. I do t think we have much to do with global warming. And if we do it is minimal. With a name like angrykulla, you could be antifa. Just a guess on my part.
@angrykulla no but i guess every liberal does.
@angrykulla I don't worry, Jesus is in charge.
Andy A you idiot I can’t believe your stance for climate change is actually that ridiculous
I can remember as a kid when somebody needed to eat lunch at school we would give each other lunch tickets, so the kids that were hungry could eat, and they could pay back if they could at a later date.
The thing is, being able to eat lunch as a kid in school shouldn't be dependent on other kids doing charity or even other kids liking you. In the richest country in History, a kid having a lunch to eat should be a given and we shouldn't even have to talk about it.
In socialism you'll always be a lil guy, in capitalism you'll probably be a lil guy but you at least have a chance to become the big guy
bullcrap... capitalism makes you most likely a nothing, to be stepped on and exploited by the rich
joshua raglin capitalism makes you labor get exploited by the higher classes
As a Conservative Native American Indian Woman who was kicked out of the Donkey Party Convention over 15 + years ago...I had work extremely hard and attended College courses and then drove over 50 miles to my Reservation with no running water or electricity.. these entitlistic youth should obtain some Wisdom...as later in life I had the opportunity to give back overwhelmingly!! Im speaking about 50,000 to support the victims of 911 terrorist attack in NY? These uninformed, haters are so out of touch for those who left the poverty mentality! This professor offends me, so I’ve had many tough conversations with my former political science teacher. We debated with each other throughout the entire semester..when I passed all my finals with an A... he suggested I become a lobbyist! I believe it was it was a great compliment.
On a different note, my daughter who had to grow up without a father due to a car accident..she worked went to College an now has 8 AA degrees and 2 BA degrees and now Manages a Company and does not allow individuals any whinnying!! She shares all the stories with me regarding the ridiculous excuses this generation of supposed adults make for not coming to work!! Ha ha. These youth need to get a reality kick!
Or maybe attempt to work for my daughter..lol 😉😆🎤💌🙇🏻♀️🔑🙏🇺🇸
cringe
That 18 year old doesn't have a damned clue that socialism DOES NOT "give the power back to the people". That must be a freaking joke.
Also she made a comment about millennials... At 18 years old she is not a millennial.
Her organization protests and sue people. Disrupt the border situation, they hate cops. Love BLM. A horrible org shes with little curly haired millennial
@@gailmorra The millennial generation is from 1981-1995. This little wench was born in 2001. She's not a millennial she's Generation Z.
I love how personal responsibility never occurs to the socialists 🤦♀️
I like many socialist policies public school ,public roads , national parks ,pol;ice , military
@William Laidlow Your point is well taken . How ever capitalism in the form of feudalism has been around a while . It is said the crossbow helped end feudalism I believe one of the greatest gifts our country has is the public school system , which helps socialize our capital system . Mexico practically 100% capitalist and you don"t see us sneaking across their border . Capitalism seeks to focus capital in the hands of those who some feel "deserve " it ( and you notice no one affluent ever admits to inheriting anything like maybe 148 million dollars ) but capitalism is a good motivator . Socialism seeks to spread more wealth ( was it Henry Ford who said I can not sell my sell my cars if my workers can not afford to buy my cars ) to some who may not "deserve" it . My fear is that feudalism is the natural order and the American middle class was merely a bump in mankind's road .
@William Laidlow I hope you are right . Sometimes I fear feudalism is the natural order of man and a strong middle class was just an atypical incident .
@William Laidlow Very interesting but I have to go back to work " I shall return"
I did a google search for one thing or another a few days ago and when I was searching for the price of lifestyles in different countries the number one search result on every other google search was "How to move to X and live off of your social security" Boomers... you raised a generation of whimps.
I love how Stewart is so proud that he got rich by playing the stock market, which is as much gambling and as little work as buying lottery tickets, or playing the tables in Vegas. Herman Cain even holds up risking everything as a primary component to success in his ideal system. Guys who consistently risk it all to get rich, whether as investors, or entrepreneurs, but haven't quite managed to hit on that next big thing are thought of as shiftless losers and afforded no respect, unless their luck one day changes, and then they are called self made men and afforded nearly unlimited power, glory and future opportunity. They may then extend this status to their friends and family as they so choose. THIS is the true essence of the ideal that these men uphold. The rest is pure pageantry.
If Capitalism is good, why does America have a national debt of $26 trillion as of June 2020??
And cant afford healtcare to everyone? o_O
@@vidar2302 Or anything else by the looks of it.
Usa has way less household and business debt than Australian per capita
A much better debate on this is Milton Friedman and Thomas Sowell vs Frances Fox Piven from the 60s!
@sjcthrn5 But Piven would've destroyed the capitalist idiots on this panel as well. It's just different weight classes...
does anyone have a link to the full debate from the 60s? I can't seem to find it anywhere... :'(
“Your claim is false.”
“Your claim is also false!”
The most honest a republican has ever been.
Wish walter Williams or Thomas sowell would've been at this. They would've annihilated everyone in this debate
Yaron Brook, too.
The whole premise if the first question is off base. World organizations do dot even keep data on starvation in the US because it is virtually nonexistent. The draw of socialism in America is not what to eat , but who to eat. The hunger that it attempts to quench here is envy and jealousy. They , the socialist, act like the day it is implemented is the day a person making $20,000 starts to make $100,000. In reality all you will get is less rich and a stagnant economy with less productivity. This has been proven worldwide again and again. China on the other hand started increasing productivity when they started allowing private ownership and savings for the people. Just two of the many capitalistic measures.