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Home Cultural Issues Other Cultural Issues Prager 5 Minute Videos Capitalism Wins
Prager 5 Minute Videos

Capitalism Wins

February 8, 2021
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More and more, it seems people find it difficult to defend capitalism—even those who benefit from it most. But former US Ambassador to the United Nations Nikki Haley takes a refreshingly different view: she thinks we should double down on it. Here’s why.

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Script:

There are many in the West — including many who should know better — who find it difficult, unpopular, or just plain embarrassing to defend capitalism.

I take the opposite view.

We should double down on it.

For a very simple reason:

It remains not just the best, but the only, chance for the least fortunate in the world to make life better for themselves and their children.

And the more we see of capitalism’s rival, socialism, the more proof we have that capitalism is the way we want to go.

I’ve seen this over and over again: from my own childhood, to my time as governor of South Carolina, to most recently – and most dramatically – during my tenure as US Ambassador to the United Nations.

I grew up in South Carolina as the daughter of Indian immigrants. My mom started a small shop selling clothes and gifts that grew into a successful business. She showed my brothers, my sister, and me what it meant to live the American dream. As my mother’s story so vividly illustrates, America is a country where people can find jobs that match their talents and passions. 

Some Americans take this for granted. The rest of the world envies it. 

As governor of South Carolina, I marveled at capitalism’s power to improve lives. Our pro free-market policies helped bring in more than $20 billion in investment and created jobs in every county of the state. Those jobs provide dignity and purpose. And as I often say, when you give a person a job, you take care of a family. 

During my time as the US ambassador to the U.N., I was reminded that not every country enjoys the same freedom and prosperity as America. More than 1 and a half billion people still suffer under socialist regimes.

In 2018, I stood on the Simón Bolívar Bridge at the border of Venezuela and Colombia. I watched thousands of Venezuelans cross into Colombia for the only meal they might have that day. I held a beautiful baby girl. Her mother told me all she wanted for her daughter was a future of freedom. They were one of millions of Venezuelan families whose lives have been destroyed by her country’s socialist policies.

So, imagine my dismay to find that socialism has become trendy here in America.

American socialists claim they seek a more enlightened socialism, like the one found in Scandinavian countries. But those countries are not socialist. They are capitalist and offer large welfare benefits. But, ironically, to make their system work they’ve had to repeatedly slash their corporate tax rates. Denmark has cut its corporate rate by more than half since the 1990s. Other democracies, including Israel, India, and the U.K., experimented with socialism, only to abandon it — and only then did they thrive.

The results are in: socialism — however you want to define it — has failed everywhere it’s been tried. A handful of elites sitting in a government office can never outthink millions of business owners and consumers making millions of individual choices every moment of every day. You’d think we’d have gotten the message by now. 

An entire generation of American adults are too young to remember the suffering socialism caused during the last century. Instead of teaching students to reject our country’s history and founding ideals, schools should have a required class on the history and collapse of the Soviet Union. 

Young people at least have the excuse of being miseducated, but what does one say about corporate CEOs who give in to social trends rather than standing up for a system that their own businesses and workers depend on?

For the complete script visit https://www.prageru.com/video/capitalism-wins

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Tags American dreamAOCbenefitsbernieBolivarbusinessbusiness ownersCEOchoicecommunityconsumerismconsumerscoronaviruscorporate taxcustomersdemocracyDemocraticdemocratic socialismdenmarkeconomic systemeconomic systemsEconomyFree Marketfreedomjob creationjobslibertymobilitynikki haleypoliciespovertyprager universityprageruprofitsprosperityscandinaviashutdownsocialismsoviet UnionstakeholdersufferingUnemploymentVenezuelawagesWelfareWorkers
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37 Comments

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Older Comments
  1. @codiac555 says:
    February 13, 2024 at 12:12 am

    Wont someone just tell me what the hell communism is? Legitimately? Not as a veiled insult? I dare you

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  2. @zachupton3647 says:
    January 21, 2024 at 1:14 am

    If you dislike capitalism, blame socialism they added to it. You can't tax your way to prosperity

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  3. @gaugeray7462 says:
    January 20, 2024 at 12:43 am

    Make one where she describes being recruited by the deep state to destroy our freedom. Let her tell us why Trump is the devil.

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  4. @spoortifyy says:
    January 18, 2024 at 5:54 pm

    She's neolib

    Log in to Reply
  5. @spoortifyy says:
    January 18, 2024 at 5:52 pm

    This 304

    Log in to Reply
  6. @nevadataylor says:
    January 18, 2024 at 8:16 am

    Its not capitalism that is the best system humanity has ever discovered, its Science! Without Science to use, capitalism is nothing.
    Can any capitalist name a good thing that has come from capitalism that is void of Science?? I highly doubt it.
    Carefully observe, its always a capitalist that can be witnessed disingenuously borrowing from the fruits of Science, to prove capitalism is somehow working. Well capitalism ISNT working, clearly Science IS!

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  7. @limonadik_lol4246 says:
    January 10, 2024 at 1:18 pm

    Such obvious capitalist propaganda

    Log in to Reply
  8. @CalRoberts-gx3jt says:
    January 7, 2024 at 11:45 am

    I used to hate the likes of Nikki Haley or by British standards Thersa May
    Now as if I've gotten older, I kinda appreciate them

    Log in to Reply
  9. @earllsimmins9373 says:
    December 21, 2023 at 2:01 am

    People only turn to socialism when capitalism fails them. Elon Musk considered one of the richest man in the world does not have a single business that doesn't or didn't require government assistance. His only business that didn't require government assistance is.
    X and that is sinking faster than a russian war ship in the Black Sea. So what do you define as socialism? When Trump got covid he was treated at a government run hospital with all expenses paid. Socialism?

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  10. @thewhynotgamer842 says:
    December 17, 2023 at 11:53 am

    Capitalism allows Job owners to take advantage of workers and take as much of their workers time as possible

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  11. @zackbarkley7593 says:
    November 18, 2023 at 3:07 pm

    If capitalusm was an honest actor, why does it war, embargo, and demonize socialist countries? Why cannot it succeed on its own without this? Even a so called capitalist like the US in this country are critically dependent on socialist elements of our society…namely democracy, infrastructure, a literate publicly educated workforce, and publicly funded open source research… where ALL the greatest scientific advancements come…because it does take a worldwide community of scientists openly sharing knowledge not some fictional Tony Stark to actually push the envelope. Capitalist are excellent at manufacture and distribution…but thats really about it. GIven to much power, money, and propaganda (which they certainly have too much of now)…they will destroy their own golden goose. The endgame to maximizing profit for the few is slavery for the cheapest labor and war for the cheapest resources. While in the short run, this gives capitalists the edge, in the long run it destroys capital and the real wealth produced through innovation and empowerment of the masses.

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  12. @dustyk103 says:
    November 17, 2023 at 3:40 pm

    Not just capitalism. Republicanism! Trumpism! America cannot thrive under democratism. Their policies are corrupt and perverted. Socialism is the ideology of thieves who would kill the Golden Goose. Embrace Trumpism and reject Obamunism.

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  13. @GrumpDog says:
    November 14, 2023 at 3:24 am

    Soon as we have super intelligent AI.. Capitalism becomes invalid for the average worker. Prove me wrong.

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  14. @tomh3017 says:
    October 31, 2023 at 1:36 am

    Could someone please tell me when the UK experimented with socialism? thanks

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  15. @imperijaable says:
    September 18, 2023 at 10:25 am

    Capitalism is the only moral system. Socialism is a utopia.

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  16. @gabrielagustinho-mas says:
    September 13, 2023 at 6:56 am

    Yeah, well, Haley’s lost my interest. She’s a supporter of the war in Ukraine, so she’s nothing but a pro-war, Neo-Com, RINO warhawk.

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  17. @somescrunkly says:
    July 13, 2023 at 11:36 am

    Dude really said "🐷💰"

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  18. @manuelvale3996 says:
    July 4, 2023 at 10:22 pm

    https://youtu.be/PaASqPnpq5Y

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  19. @dannysullivan3951 says:
    June 15, 2023 at 8:13 pm

    Wage theft by Walmart, Amazon, B of A and others steals more wealth than actual criminal theft year by year. The “free market” is a religion for the GOP, never mind CEO pay at 300X average salary.

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  20. @Mariasol07 says:
    May 26, 2023 at 5:15 pm

    Leonardo Castellani warned us that capitalism and communism «coincidence in their mystical core: both seek the Earthly Paradise through technique; and its mysticism is a technolatric and anthropolatrous messianism, whose diffusion we see today everywhere, and whose direction is the deification of man; which one day will be incarnated in A Man». He also pointed out that capitalism and communism had a common mission entrusted to them, which is none other than to reduce the Christian order to rubble: communism without masks or dissimulations; capitalism in a much more sneaky way, deviously assuring that his intention is to defend it. Hence, as Álvaro d'Ors affirmed, communism can at least make martyrs, while capitalism only makes heretics and perverts. Castellani prophetically envisioned that capitalism and communism would end up becoming amalgamated, through a "feat of the Antichrist."😊

    Log in to Reply
  21. @alexanderyangov767 says:
    May 5, 2023 at 11:28 pm

    “Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal.But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal.21For where your treasure is, there your heart will be also.

    “No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and money.

    Log in to Reply
  22. @chakraqi6887 says:
    March 15, 2023 at 7:46 am

    Capitalism wins

    Log in to Reply
  23. @jamesvas6986 says:
    February 5, 2023 at 9:56 am

    sooooo many logical fallacies LMAOOO

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  24. @ailleurd says:
    January 26, 2023 at 6:06 am

    Don't feel sorry as you have to say something you don't want.
    As say a german sentence " in die Westen es glänzt aber warme nicht, in Osten es glänzt nicht aber warme.

    This presentation is very simplistic and ideologic. The american dream is not better than the new dawn. It's the same blindness.
    It need an open mind and some knowledge, serious and neutral like science have to be.
    The way that USSR rules need to be clearly known and not what we would like to be, without any préjugés after more than a century of US propaganda.

    Log in to Reply
  25. @Dzeividz says:
    January 7, 2023 at 2:01 pm

    Nice propaganda

    Log in to Reply
  26. @hipoint40cal39 says:
    December 21, 2022 at 11:23 am

    capitalism = wage slavery for the 1%.

    Log in to Reply
  27. @thejbros6830 says:
    December 6, 2022 at 6:00 pm

    bro ngl socialists are npcs

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  28. @cohengamertv6548 says:
    November 28, 2022 at 3:29 am

    THE WORKERS SHALL NOT GIVE IN, SOLIDARITY FOREVER

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  29. @cohengamertv6548 says:
    November 28, 2022 at 3:26 am

    *every single last country that was oppressed by capitalism wants to execute you*

    Log in to Reply
  30. @shiptj01 says:
    September 26, 2022 at 6:54 pm

    Every system that humans devise ends up failing at some point.

    Log in to Reply
  31. @jeronimotamayolopera4834 says:
    September 14, 2022 at 9:48 pm

    MUERTE A LA DEMOCRACIA.

    Log in to Reply
  32. @jeronimotamayolopera4834 says:
    September 14, 2022 at 9:47 pm

    DESTROY THE UNWELFARE STATE.

    Log in to Reply
  33. @dylanoneill5140 says:
    September 6, 2022 at 3:04 pm

    I hate how people don’t understand that both communism and capitalism are bad and unfair. The government just gives these options to you so you don’t realize there are better options such as an in between

    Log in to Reply
  34. @artistic2742 says:
    August 12, 2022 at 10:55 am

    YES

    Log in to Reply
  35. @c.d.porter9366 says:
    August 3, 2022 at 9:11 pm

    Capitalistism is only one leg of a three legged stool. The remaining two legs are constitutional and conservative. When all three are allowed to thrive "we the people" thrive.

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  36. @olfrogo says:
    July 28, 2022 at 11:19 pm

    Capitalism is like a financial pyramid,first it goes well then trouble hits the fan and everything collapses.

    Log in to Reply
  37. @sird2403 says:
    July 23, 2022 at 6:21 am

    Errr.. right, what about a man named Robert :'(

    Log in to Reply

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