Being a multiple of what the government states that it is so why was capitalism working so splendidly back then versus the over indebted over leveraged version of it right now it really begs the question over if its classical kind of adam smith and David Ricardo Joseph Schumpeter capitalism as taught in college and grad school or if its more of an i and randy and servile of the fittest at any and all costs by any means necessary vulture market fundamentalism that is built on increasing amounts of Financial Leverage and speculation versus actual manufacturing productivity and this is stand ability of a middle class i dont think its working in the same way that it had in decades past ok its going to alexander in the annapolis i mean i think thats the point here is that i have actually for capitalism ok i dont want to have any misunderstanding but im i want to work for everyone or more people and its working for now ok because we we see you know we hear you know depending on what side of
Go to the person that got up early is that you got up really early for those programs and im very much appreciated by you know theres a lot of talk about how capitalism is. Performing and for whom and we look at the generation x. We look at the middle millennial as we see the attraction of socialism in the polls so my question is very broad and its a very deep question at the same time as it is capitalism working if it is for whom go ahead. Well its a great question. My kind of response question is whether capitalism whose capitalism i mean its 201920 years ago we had the strongest economy known to man with you know Everything Technology and the promises of the internet and efficiency the lowest real rate of unemployment back then versus real unemployment right now being a multiple of what the government states that it is so why was capitalism working so splendidly back then versus the over indebted over leveraged version of it right now it really begs the question over if its classica
This is stand ability of a middle class i dont think its working in the same way that it had in decades past ok its good alexander in indianapolis i mean i think thats the point here is that i have im actually for capitalism ok i dont want any misunderstanding but im i want to work for everyone or more people and its working for now ok because we we see you know we hear you know depending on what side of the political aisle you are you know how well the economy is doing well its doing really well for rich people and that is undeniable when it goes a little bit further down i think its a lot more nuanced than the talking points that you hear on c. N. N. Or fox go ahead alexandra. I think i think youre right peter its always more nuanced than that the talking points from here on fox but i mean adam smith himself wasnt naive and he recognized he wrote in his wealth of nations about the that that that free markets would produce inequality he wrote for everyone rich men there will be 500. 0
See you know we hear you know depending on what side of the political aisle you are you know how well the economy is doing well its doing really well for rich people and that is undeniable when it goes a little bit further down i think its a lot more nuanced than the talking points that you hear on c. N. N. Or fox go ahead alexandra. I think i think youre right peter its always more nuanced than that the talking points from here on fox but i mean adam smith himself wasnt naive and he recognized he wrote in his wealth of nations about the that that that free markets would produce inequality he wrote for everyone rich men there will be 500. 00 poor and right but for him the universal opulence that free markets would produce was worth was worth it and we see that empirically objectively that that capitalism has has done a lot of good and reducing global poverty the number of times it was all those who live on a dollar a day has reduced by 80 percent in the. Last 3 and a half decades and s
Now it really begs the question over if its classical kind of adam smith and David Ricardo Joseph Schumpeter capitalism as taught in college and grad school or if its more of an i and randy and servile of the fittest at any and all costs by any means necessary vulture market fundamentalism that is built on increasing amounts of Financial Leverage and speculation versus actual manufacturing productivity and this is stand ability of a middle class i dont think its working in the same way that it had in decades past ok its good alexander in indianapolis i mean i think thats the point here is that i had im actually for capitalism ok i dont want any misunderstanding but im i want to work for everyone or more people and its working for now ok because we we see you know we hear you know depending on what side of the. Little ol you are you know how well the economy is doing well its doing really well for rich people and that is undeniable when it goes a little bit further down i think its a lo