Commercialism vs. Socialism|5 Minute Video
Decades after industrialism appeared to have triumphed over socialism, politicians are as soon as again arguing about the benefits and drawbacks of these opposing financial systems. Andy Puzder, previous CEO of the parent business of Hardee’s and Carl’s Jr., describes the misconceptions that keep the dispute alive.
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Script:
Capitalism versus socialism. We can summarize each financial system in one line:
Industrialism is based upon human greed. Socialism is based upon human requirement.
?
No. Incorrect.
Wrong, it’s exactly backwards. And I’ll show it to you.
Been on Amazon lately? Each of the thousands of products Amazon uses represents the work of individuals who believe they have something you need or want. They prosper if they’re right. If they’re incorrect, they do not.
That’s how the free enterprise works. It encourages people to enhance their lives by pleasing the requirements of others. Nobody starts a service making a thing or providing a service on their own. They begin a company to make things or provide services for others.
I speak from personal experience.
We invested millions of dollars every year trying to identify what consumers desired when I was the CEO of the company that owns Carl’s Jr. and Hardee’s dining establishment chains. If our clients didn’t like something, we altered it– and quick, because if we didn’t, our rivals would (pun planned) eat us for lunch.
The customer– that’s you– has the ultimate power. In result, you vote with every dollar you spend.
In a socialist economy, the government has the ultimate power. It chooses what you receive from a restricted supply it chooses need to exist.
Instead of countless people making countless choices about what they desire, a few individuals– federal government elites– choose what people should have and how much they ought to spend for it. Not surprisingly, they always get it incorrect. Have you ever discovered that late-stage socialist failures always run out of essential products like bathroom tissue?
Of course, this isn’t a problem for those who have the best connections with the ideal individuals. Those selected couple of get whatever they desire. But everybody else is out of luck.
Venezuela, once the wealthiest country in South America, is the most recent example of socialism driving a flourishing country into an economic ditch. We’ll overlook the fact that leftist activists commemorated it as a great socialist success– right up until it wasn’t.
People seem pretty delighted there. Why can’t we have what they have– totally free health care, free college, stronger unions?
Great concern. And the answer may surprise you.
There are no socialist countries in Western Europe. Most are simply as capitalist as the United States. The only distinction– and it’s a huge one– is that they use more federal government benefits than the U.S. does.
We can argue about the expenses of these benefits and the point at which they decrease specific initiative, therefore doing more harm than good. Scandinavians have been discussing those concerns for years. However only a free-market capitalist economy can produce the wealth needed to sustain all of the apparently “totally free stuff” Europeans take pleasure in. To get the “free stuff,” after all, you have to create adequate wealth to produce enough tax revenue to pay for everything the government gives away.
Without commercialism, you’re Venezuela.
For the total script, visit https://www.prageru.com/video/capitalism-vs-socialism
source
Decades after industrialism appeared to have actually triumphed over socialism, political leaders are once again arguing about the benefits and disadvantages of these opposing financial systems. Click https://smile.amazon.com and a percentage of every Amazon purchase will be donated to PragerU. Now you can use PragerU product! Rather of millions of individuals making millions of choices about what they desire, a couple of individuals– government elites– choose what people need to have and how much they must pay for it. Why can’t we have what they have– totally free health care, complimentary college, more powerful unions?
