Why You Love Capitalism

Why You Love Capitalism


You love capitalism. Really – you do. And you can’t stand big government. Really – you can’t. Don’t believe me? Then I’ll just have to prove it to you. Do you use an iPhone? Android? Macbook? PC? Read on a Kindle? Watch TV and movies on Netflix? Videos on YouTube? Shop on Amazon? Listen to Spotify? Search on Google? Send money on Venmo? Grab a ride with Uber? Drive with Waze? Book a room with Airbnb? Are you on Facebook? Or Instagram? Or Snapchat? You probably use many, if not all, of these
things, and, if you’re like me, you love them. In today’s world, they’re practically necessities. Where do you think they came from? From entrepreneurs with great ideas and the
freedom to test them in the marketplace. That is what is known as . . . capitalism. Now consider some other things you probably
use: Have you been to the DMV? Gone through airport security? Mailed a package at the Post Office? Called the IRS customer service line? Or called any government office, for that
matter? What’s different? Why is going to the Apple Store so fun, but
going to the DMV so painful? Because one has nothing to do with the government,
and one is the government. One needs to satisfy its customers to survive
and grow. One doesn’t. The purpose of government is not to create
products. And we don’t expect it to. But if you thought about it for a few moments,
you’d realize you don’t want the government involved in just about anything private business
can do. That’s because profit-motivated individuals
have to work to please their customers. You. Government agencies don’t have to please anyone. Call that IRS service line, if you doubt me. Can you imagine if Steve Jobs had to seek
government approval for every new design of the iPhone? We’d have been lucky to get to iPhone 3G. Look at Uber. Just a few years ago, summoning a private
driver in a few minutes who would take you where you wanted to go was truly a service
available only to the wealthiest people. But now, thanks to capitalism, private rides
are an affordable option for ordinary people all over the world. Until Uber came around, if it started to rain
in, say, Manhattan and you wanted a grab a cab, good luck. Too many rain-drenched people and too few
cabs. Uber had a better idea. Rain falls. Demand for rides spikes. Raise prices to incentivize more Uber drivers
to hit the road. Ride-in-the-rain problem solved. Airbnb is another example. Only a few years ago, if you were going on
vacation with your friends or family, hotels were just about your only option. But hotels are expensive, and often don’t
provide all that much in terms of space, amenities, or interesting neighborhoods. If you wanted to, say, find out if individual
homeowners were making their homes or apartments available for a few nights, you’d have to
scour internet postings. But then Airbnb came along, giving anyone
with a computer or smartphone access to over 2 million homes in 190 countries. You can find places with hot tubs and pools;
or, if you’re on a tighter budget, you can rent a room, or even just a couch. Government never could have done this. What motivation would it have? How would it even know we wanted services
like Uber or Airbnb? We didn’t know it, until risk-taking entrepreneurs
made it possible. Thanks to capitalism. And no thanks to government which, more often
than not, just gets in the way. Why? Because the government’s knee-jerk reaction
is to regulate and control everything it can regulate and control. Otherwise, what would be the purpose of many
government agencies and all those bureaucrats? Cities across the world are putting up barriers
to slow down or shut down services like Uber and Airbnb. Rulemaking may be the only area where the
government shows creativity. Economic growth has the best chance of happening
in the absence of that rulemaking. As economist Adam Thierer explains, the internet,
to use just one important example, was able to develop in a regulatory climate that embraced
what he calls “permissionless innovation.” This approach to regulating allows entrepreneurs
to meet their customers’ needs without first seeking government approval. In sum, almost everything you enjoy using
is a product of capitalism; almost everything you can’t stand is a product of big government. So, do you love capitalism? Of course you do. You practice it every day. It’s time to preach it. I’m Jared Meyer of the Manhattan Institute
for Prager University.

100 Comments on "Why You Love Capitalism"


  1. I came here from here: https://youtu.be/kAg2nrPiCpA (a posting by Socialism Explained) where comments are disabled. I wonder why? Probably because the authors don't like having their points dissected and dismantled with dissenting arguments. Do you believe in socialism? If so, I challenge you and Socialism Explained to defend its virtues here so that all can freely defend, discuss and/or refute.

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  2. Capitalism ALSO gave us slavery and colonialism. These things are great, aren't they?

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  3. Ffs🤦‍♂️this is soooo wrong in every way. It thinks its being smart but it really isnt.

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  4. For those that still hate Capitalism, here is another Prager 5 minute video:
    https://www.youtube.com/watch?v=7_7Jv2oh9s4

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  5. I don’t understand how Apple is so socialist friendly. They will lose their ass if America turns into a socialist country. Socialism is a drug and as much as it “helps” the poor. It doesn’t. It just makes everyone have the same amount of rats to eat every day

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  6. Those are good capitalist but in reality most do it for profit than people. If you argue with me look at the poor who are suffering or look at African people in Africa who doesn't have medication because it's expensive. Capitalism exploit people for profits. If you think capitalism can is effective and we should love it then why it fail in Latin America, Africa and some part of Asian.

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  7. I love capitalism! So, if my family is poor, I won't be able to pay my University or if I have an accident, I will be in debt the rest of my life paying for it! But hey, now I can use Uber! That's nice. Also I can listen to Spotify where artists get no shit from there or use Amazon that avoids paying taxes in my country and gives terribly paid jobs to people. If I use capitalist stuff is because if you are poor you have no other option and you can only afford the cheap that only benefits the biggest corporations and not the small business!

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  8. Here in Israel we can't use Uber because to be a so called Taxi you need many licenses from the government so the Taxis are expensive and are all owned by 1 Taxi Comany

    Capitalism is the Only way!

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  9. 1.5K gender studies graduates who can't get a job and want "free stuff" from an ever increasing government all while not quite understanding it how it works or its repercussions, disliked this video

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  10. There is a lot of nonsense in this video. First of all, it isn’t explaining why capitalism is good, I just tells you how capitalism help you and it does but not always. First of all, all the things you mention came as a result of science and technology. It doesn’t come from entrepreneurs but some technological advancement which might have not even came from earth but from aliens and UFOs that crashed. Second, you can have capitalism with big government. The Republican Party does that well, they allow laissez-faire economics while having a big state and strong domestic and foreign authority. Likewise, high taxes and regulations on big corporations as well as the reduced effect of big business over our lives can coincide with free markets. People should be allowed economic freedom to a certain point, than regulations kick in. This is just common sense. You are allowed personal freedom to a certain point, such as murder, rape, or theft, than punishment kick in.

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  11. There may not be any true capitalism or communism, but leaning on capitalist ideals lets us enjoy so much freedom and gives anyone the wriggle room to change their lives on their own merit. Spiraling toward communism leaves your society stagnant with no innovation as merit gives way to doing just enough to get your quota and keep you treading water in the collective. You do not want to live tied to a collective….

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  12. this is a brainless and shallow overview of capitalism. whoever did this must surely have not gone through college

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  13. Here comes the liberal: "I WISH RICH PEOPLE WILL PAY FOR ALL MY SHIT AND BECOME AS POOR AS I AM, CAPITALISM IS BAD BECAUSE MONEY IS BAD AND EVERYTHING SHOULD BE FREE. I DON'T CARE IF I'LL PAY A MILLION DOLLARS IN TAXES, AT LEAST THE RICH WILL PAY 100 MILLION DOLLARS IN TAXES AND THE WORD FREE MEANS EVERYTHING IS FREE"

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  14. too bad there will always be some sort of government intervention. some are good, but some are questionable

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  15. No. I do not love it. Capitalism Is a marxist concept.
    Our civilization can not be reduced to a bias favorable to corporations.
    All the achievements of western civilization were despite the corp no thanks of them.

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  16. Do you use an Android phone? Do you search things on Google or watch YouTube videos? Yes? Then you love anarcho-communism. Android operating system uses Linux. Also, Linux is used in majority of routers and servers, including Google/YouTube. Linux is free and open source software, therefore most of the Internet is operating on software which was basically developed under anarcho-communist principles. So much contribution by the Left, and PragerU comes in and starts acting as if everything that's good is a merit of capitalism.

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  17. To the people who are saying that him assuming things is wrong, you're the wrong one. Unless, of course, you don't do any of the things he mentioned, but that can't be true; you're on YouTube!

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  18. People complaining about capitalism on a phone made by capitalism, on a chair made by capitalism, drinking a drink made by capitalism, or on a computer made by capitalism. I see anti capitalists whining about capitalism eating McDonald's and on a nice computer with good clothes. Don't like capitalism? Move over to venuzuela or north Korea or inland China or zimbabwe. If you hate capitalism so much those countries must be paradises for you.

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  19. Big government? Is that when government gives out billions in tax cuts and subsidies to really wealthy hedge funds and billionaires? I agree – that should not be allowed.

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  20. Yes, because anarcho-capitalism is the creation of god himself and was a gift to the utopian world of the US and anyone who disagrees in the slightest is an sjw commie who wants to create an oppressive authoritarian regime where the fat kid in NK rules the universe

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  21. That was ridiculous. Thanks to the government, I cash in your taxes in the form of disability checks. Of all the things mentioned, yes, I have a macbook, which was provided to me through disability funding. The government keeps me alive and fed. Capitalism does very little for be because its the playing field of the wealthy. Which I will never be.

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  22. This is such a sneaky argument. There's a point here; Markets are often better at providing goods and services than bureaucratised government agencies. However, that point is used to support capitalism using a false dichotomy; Capitalism is conflated with any market economy, while non-capitalism is conflated with a command economy. In reality, capitalism is just a kind of market economy where businesses are predominantly owned by private interests, and non-capitalist markets economies are quite possible. Also, economies and either market or command; There's a spectrum, and most exist somewhere in the middle. But of course, most people's understanding of economics is limited to this false dichotomy, so this kind of argument argument ends up being quite effective.

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  23. This is so stupd. You can buy things on amazon in every country in the world. Even the countries that ban Uber have some kind of domestic rideshare app. You can get all the things that this moron talked about easily even in socialist countries…………………..Okay I'll go into the DMV analogy, and this logic can easily be applied to the others……Say the DMV opened more centers trained staff better and dramatically decreased wait times. SOUND GOOD???? What if they tripled prices as well? Would you really wanna pay twice the price for a service you use once every 2 years on average?

    Then as someone who drives for UBer and while I don't have a taxi license I can't drive in NYC. In a dense Urban area a surge in price doesn't neccesarily mean more money for the driver. If you have say a light weather event like rain in an urban area te extra rain is just gonna make your rides more time consuming so your not gonna get anymore money really. Snow is different but suffice it to say even in the northeast is alot less common than rain.

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  24. That's why i love capitalism you work hard to get what you want so suck it commies those guys are just lazy mofos who wants everything spoonfed and who wants to get rich without even deserving it

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  25. 0:58 "that's what's called capitalism" …. no, it's called a market economy. Even the Soviet Union had a market based system despite being communist. You know this guy is definitely not an economist. I came here cause the video title sounded interesting and I figured he would make a case that our brains are hard-wired to love consumption and making money… But his arguments and logic are just poor. There have been technological inventions long before we had a word for capitalism.

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  26. VietCong, fight to win the US for Vietnam to be communism –> Successly beat the US
    Years later

    95% Vietnamese want Capitalism more than communism, that is even more than the Us

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  27. Many of the current social / economic problems of the West have been caused by Capitalists institutions moving out of the West, in an incredibly poorly managed way. This Import / Export of cheap labour and re-location to the East, to drive down wages, has left the working classes with an uncertain future leading to resentment and dissolutionment.

    While the movement has been planned, and not by the left I would like to add, the impact has not. This ongoing re-distribution of wealth away from ordinary people to the top 5% earners is seriously damaging for our society.

    The existing Capitalist structures are not addressing the consequences and are doing little to mitigate the impact. Indeed, I believe the situation is likely to get much worse as the state of play continues unabated. We need positive action / change now.

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  28. The same people who claim "capitalism oppresses the masses" probably have easy lives because of it. Yet their own jealousy of people who simply have more wealth prevents them from gaining more success.

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  29. Capitalism itself is good but it's inevitably negative outcomes are crony capitalism, oligopoly and monopoly which have bad impact on an economy.

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  30. Why is there so few to buy in socialist countries? Because there is a super abundance of workers and bureaucrats. Tools which do not produce anything without the prodding of someone who decides to savie and invest to produce something.

    Politicians should be placed as far away as possible from economic decisions. In fact I still have to think of something a politician is good for. Maybe boots on the ground looking for WMD instead of being in charge in deciding young people should be wasting their time and the country's resources looking for WMD

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  31. 1 in 6 people in America face food insecurity.

    5.8 million US households suffer from severe food insecurity.

    75% of Americans can't afford to MISS ONE PAYCHECK WITHOUT GOING HOMELESS.

    Real great system we got here in America..

    Reply

  32. Even though this video and lots of other videos like this prove that Capitalism is the greatest economic system of all time, there are those who angrily argue against it, even though they know that because of Capitalism, we are free.

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  33. This guy has good points, and i definitely don't disagree, but he's kinda creepy

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  34. Imagine being so out of touch with reality, you think that all capitalists are these evil beings that want to oppress and exploit the poor. That's what it's like to be a leftist. That's got to be an awful existence. To avoid this happening to you, don't call everything you disagree with evil, and keep in mind that compassion is on both sides.

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  35. Unfortunately, Democrat want government to provide healthcare and education and green new deals. Good luck. Usa will be run by government and see how it will turn out.

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  36. I hate capitalism. People, please Google search LIST OF FAMOUS SOCIALISTS and List of Famous American Socialists! There never should have been any unequal wealth! It started thousands of years ago, and now we have computers and most money is just numbers in computers so we can finally delete it, so everything is free, like food, so no one starves! But for now all people should look for a Guaranteed Residual Income.

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  37. A: Do you like Roads?
    B: Yes
    A: than you must love the government because it provides the roads

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  38. And you should not love air bnb because it destroys citys and makes rent unaffordable for people

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  39. This must be the worst video yet only second to the bs about the „peace loving“ british empire.

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  40. Capitalists get rich by paying their workers a fraction of what the capitalists’ products sell for, and keeping the rest for themselves. Socialists think capitalists are pigs for not sharing more of the profit. Capitalists think socialists are devils for exposing them by daring to complain. Capitalists would much prefer their workers remain satisfied with a small portion so the capitalists can accumulate the extra money they need to send their children to Harvard, Yale and Stanford and to maintain the yachts and airplanes so necessary to the upper crust life style god obviously intended them to have.

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  41. So… How free is our “free market” if we need a license to sell alcohol, tobacco, firearms, medicine, motor vehicles or ANYTHING for that matter if you’re the owner of a store or a business???
    If we need a license to hunt, fish, drive, practice law, practice medicine, to cut hair, to operate a jet ski???
    I submit that our market is NOT NEARLY as free as it could be…

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  42. List of communist war crimes:

    https://en.m.wikipedia.org/wiki/Crimes_against_humanity_under_Communist_regimes

    https://en.m.wikipedia.org/wiki/Soviet_war_crimes

    https://en.m.wikipedia.org/wiki/Cambodian_genocide

    https://en.m.wikipedia.org/wiki/Mass_killings_of_landlords_under_Mao_Zedong

    https://en.m.wikipedia.org/wiki/Holodomor

    https://en.m.wikipedia.org/wiki/Red_Terror

    https://en.m.wikipedia.org/wiki/Communist_purges_in_Serbia_in_1944–45

    https://en.m.wikipedia.org/wiki/Purges_of_the_Communist_Party_of_the_Soviet_Union

    https://en.m.wikipedia.org/wiki/Great_Purge

    https://en.m.wikipedia.org/wiki/Cultural_Revolution

    https://en.m.wikipedia.org/wiki/Persecution_of_Falun_Gong

    https://en.m.wikipedia.org/wiki/Tugboat_%2213_de_Marzo%22_massacre

    https://en.m.wikipedia.org/wiki/Massacre_at_Huế

    https://en.m.wikipedia.org/wiki/Communist_terrorism

    https://en.m.wikipedia.org/wiki/Tezno_massacre

    https://en.m.wikipedia.org/wiki/Katyn_massacre

    https://en.m.wikipedia.org/wiki/1951_Mokotów_Prison_execution

    https://en.m.wikipedia.org/wiki/Gegenmiao_massacre

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  43. Of course capitalism is the only way any society should and can work. For thousands of years ago people have been able to earn a living by offering up services based on their particular skillset to others in need of it. This is how people traded and societies were born. However, when trade which was in the form of bartering and then coins (copper silver gold) all was well because the hours of work and type of work you put in would earn you a specific amount of good, resources or coins. But when the economy got switched to IOU (paper money and then currency), the whole concept became a facade, a fraud. Because now a private company was responsible for the issuing of said "money". that money which represents how much time or work you have offered. Yes capitalism is the way. its the only way. But not under the current economic climate we have created. A debt based economy is destined to collapse over and over again because the issuing of money should be supervised by everyone to ensure there is no corruption. Education towards such facts should be mandated in all schools and universities to ensure proper oversight as billions of eyes would always be watching in addition to the government and private businesses.

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  44. https://www.cia.gov/library/readingroom/docs/CIA-RDP84B00274R000300150009-5.pdf

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  45. MAYBE goverment services are not fun because if they were then someone would have made a company to provide. or you're saying that people only need pleasurable services?

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  46. do you love not having health care? going to bad schools the government doesn't give a shit about? working as hard as you can for not even 1% the check of someone who sits down and does nothing because their parents were rich? being compared to others because you're parents are in the wrong line of work? be given less opportunities in life such as college, health, jobs because of the neighbourhood you came from? congrats!! you love capitalism 🙂

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  47. The only people who love capitalism are those who inherit millions so they can eat without having to work.

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  48. Capitalism/free enterprise made it possible for me to have my own business, all my life. Then, retire about twenty years younger than most do. And, to be the author of a dozen books about freedom and Human Rights. Find them on Amazon.

    Reply

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