If You Hate Poverty, You Should Love Capitalism | 5 Minute Video
Did you know that since 1970, the percentage of humanity living in extreme poverty has fallen 80 percent? How did that happen? Arthur Brooks, president of the American Enterprise Institute, explains.
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Script:
The next time you hear someone complain about capitalism, consider this: The percentage of people living at starvation level poverty has fallen 80% since 1970. Before then, more than one in four people around the world were living on a dollar a day or less. Today, it’s about one in twenty.
This is the greatest anti-poverty achievement in world history. So, how did this remarkable transformation come to pass? Was it the fabulous success of the United Nations? The generosity of U.S. foreign aid? The brilliant policies of the International Monetary Fund and World Bank? Stimulus spending? Government redistribution?
No. It was none of those things.
It was capitalism. Billions of souls around the world have been able to pull themselves out of poverty thanks to five incredible innovations: globalization, free trade, property rights, the rule of law, and entrepreneurship.
Globalization means the ever-increasing ability to move goods, people, and ideas from one distant location to another. Free trade is open access to markets and people from all over the world with few, if any, barriers. Property rights is ensuring that what belongs to you can’t be taken away on a whim by the state. The rule of law safeguards contracts, assuring that they will be respected and lived up to whether the deal is made in Peru or Poland. And entrepreneurship is the creativity of free people to dream up new products that we never knew we wanted or needed.
It’s worth noting that in places like East Asia, these five things were all made possible by the historic peace after World War II that resulted from America’s global diplomatic and military presence.
Let me put this in a slightly different way:
The ideals of free enterprise and global leadership, central to capitalism and American conservatism, are responsible for the greatest reduction in human misery since mankind began its long climb from the swamp to the stars. This remarkable progress has been America’s gift to the world.
So, if these American conservative ideals have done so much to lift up the world’s poor, you would think conservative ideas would be gaining strength every single day – everywhere. And not just gaining strength among conservatives, but also among young idealists, immigrants, minorities, and advocates for the poor—all embracing the principles of free enterprise and unleashing its power on behalf of the vulnerable.
But this hasn’t happened. To the contrary, capitalism is struggling to attract new followers. Indeed, some believe it’s destined to fade away – just as it has in much of Europe.
According to a Harvard Study, only 42% of young Americans 18 to 29 have a favorable view of capitalism. What explains this discrepancy between the incredible results of capitalism and its popularity? Why does capitalism get such bad rap?
One answer is simple: The defenders of free enterprise have done a terrible job of telling people how much good the system has done around the world. Capitalism has saved a couple billion people, and we have treated this miracle like a state secret.
According to a 2013 survey, 84 percent of Americans are unaware of the progress made against poverty worldwide. Indeed, more than two-thirds think global hunger has actually gotten worse.
For the complete script, visit https://www.prageru.com/videos/if-you-hate-poverty-you-should-love-capitalism
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Everybody can win – NOT ALL.
Can anyone explain that 2 to 3 % people have 80% of money
What does rest people get?
I know that, that 2 % people also give jobs but how many people will get benefit by it ? Maybe 1 million people maximum?
I'm from India and we do have rich businessman like adani, ambani .
Those are in world's top 10 richest person, And here we have 1417 million people , And this rich people have 80% of wealth , and India is still poor country
I'm not communist but I'm trying understand that how does capitalism help poor
Capitalism isnt free market because of regulations and fees. Anti competitive economy. This is a lie
How can anyone not be in favor of Medicare for all unless they are in favor of a guaranteed living wage.
Capitalism of thug by deceive by fake currency of openday decoity inflation
Complete Balony . I’ll explain why. What PaygarU is not telling you is that they are promoting right wing capitalism as opposed to progressive capitalism which gives you Social Security, minimum wage laws, paid sick leave, unemployment insurance, disability, insurance, Medicaid, paid vacations, unions, public schools, etc. poverty has not increased over the last 43 years it has increased. Their argument is that capitalism has lifted millions of people out of poverty because over the last 43 years the daily wage has increased from one dollar to $2.25 but in order to have basic nutrition and shelter, you need $7.50 per day.
Conservatives like these guys want to privatize everything and cut taxes on the rich, everything else forget it. That’s their political and economic policy.
You need to understand that Prager U is mostly funded and promoted by right wing millionaires and billionaires who have increased their wealth from $8 trillion dollars to $55 trillion dollars over the last 43 years while you as a poor or middle-class person has gained nothing, nada, zero.
What was the first thing conservative Economus and politicians like Ronald Reagan and Margaret thatcher did when they go to the office, they destroyed unions and gave massive tax cuts to the rich.
They accuse the left of wanting a wealth transfer, but what they don’t tell you is that there has already been a wealth transfer from the poor and in the middle class to the supper rich to the tune of $55 trillion.
Republicans are looking for useful idiots, don’t be a useful idiot. Divide and conquer that’s what’s going on in America now.
Michael Pantazis.
Lies.
How to propaganda
We can fix every problem in the world stop wasting time with opinions on whats good and bad and make it way you want it WITH THE ATOM INFINITY POWER INFINITY PROBLEMS INFINITE SOLUTIONS SO GET EXPERIMENTING
Stand up for capitalism my ass.
Why would anyone want a product one doesn't need, ultimately the system is based on products and services, the poor has to only fulfill their needs and to fulfill their need they need to fulfill the wants of the rich who are rich enough to afford the wants.
Heck. I love being a wage slave!
Capitalism is just a byproduct of basic Human Right application.
Good explanation.
Truth has been spoken!
Poor people can only have a house, a car in the garage and an Iphone14 because of capitalism, not for the BS of socialism and communism.
We must always increase our average and not lower it to fit a momentary reality.
2:49 What do you mean capitalism has faded in much of europe? You said in another video european countries are just as capitalist as the US
Why the hell would I like the system causing poverty? That's like telling me to love the cancer that killed my uncle.
Reading some of the comments on this video and one can get a real understanding of what is being missed when it comes to capitalism. People tend to view it from a perspective of what it produces or what can be done within that type of economic system and this is a very shallow idea of what the problem is with it. It is not that everyone who doesn’t like capitalism is lazy, or those who do like it are just greedy rich people this is all a bunch of political nonsense. If this is how you see the world, capitalism, and people in it then I’m sorry but you are terribly brainwashed and need to start thinking for yourself not allowing others to tell you what to think or feel. The reality is that people who have been successful as a result of it’s advantages will see it as “good” or “right”, and those who have not been as fortunate for any number of reasons are going to see it in a less favorable manner. This is the truth of why anyone feels about capitalism as they do regardless of any other factor, to think otherwise is simply ridiculous.
The means folks is never justified by the ends. If along the way to being successful you must take advantage of other human beings then this is inherently wrong period, end of discussion. If a group of humans produce something and do not all EQUALLY benefit from their labor when it becomes profitable then someone in the group has to be taking advantage of the rest of those involved it’s just that simple. This is where capitalism gets it wrong. Sam Walton could’ve never made some $7 billion if he didn’t have all those people working for him, he would’ve never done it by himself it was no less than a team effort. A good many of his employees, those who show up on time every day, do their best to help customers when needed, work hard to keep the shelves stocked, are no less committed to his dream of Walmart than he was, yet on pay day they get less and he gets more, why is that? This is a flaw at its most fundamental ideology and concept and is the real reason capitalism is not a good economic system for all. And if it’s not good for all humans then it should not be good for any. I know quite a few hard working people who still live pay check to pay check, especially with our economy at present, so any argument that hard work equals financial success is pure rubbish hard work guarantees nothing.
Next we have the intelligence factor. Those people who are less gifted mentally are subsequently doomed to a meager life in our system even though they had no control over their genetic contribution to their intelligence. Many of these people make up the bulk of those impoverished people of our nation. The rest many times are those who have been let down by our failing public education system who’s scores directly determine the possibility of higher learning. These people are not lazy they’re uneducated there’s a big difference, and yet you are not likely to hear a presidential candidate run on a platform of education reform any time soon. This also is a basic fundamental flaw in capitalism which actually creates poverty where there otherwise would not be any. A person’s IQ has much more to do with their chances of success in capitalistic economy than their ambition or work ethic ever has.
It’s said that roughly 5% of the population controls 50% of the wealth of our economy. This means the other 95% of the population must fight for the other 50%. What this means in reality is some are going to come up short regardless, capitalism has no less than produced this situation, how anyone can view this as being fair to all or allowing all the same opportunities is beyond me.
And lastly, the ideology of capitalism assumes that some humans have some legitimate sole claim to the resources of the earth. Just because someone extracts them to build things in no way makes those resources theirs to profit from. If you believe that God created the planet for all to share and use then how you think it’s ok for some to profit from selling the resources it has and others not to makes absolutely no sense, but then religious belief and principle has never had a place in capitalism nor will it ever. A good example might be that ironically not so long ago a person made millions from selling little rubber wrist bands with the initials WWJD(What Would Jesus Do), well I highly doubt he would have ever tried to solely profit financially from a resource that his father created for all humans to use, and he may not even be very happy with someone else using his name to do so either especially when so many in the world go without basic human needs daily. This is capitalism in a nutshell and speaks volumes about it’s departure from what is human decency and human equality.
I dont think youngsters are ignorant of poverty around the world, I think they just take for granted the prosperity they have with NO appreciation if how they came by it.
Hilarious how debunked this video is. No accredited economic institution credits poverty reduction with capitalism. All reductions in global poverty the last century have occurred from wealth redistribution aka socialism, despite the efforts of capitalists. Funny how PragerU keeps saying “it’s not socialism!” It is, bitch, literally all of it which is why PragerU won’t tell you where those “decreases in poverty” come from (almost entirely China from social programs and public investment)
What’s PragerU’s explanation for poverty INCREASING in the hyper-capitalist US? Let me guess? “Socialism!” 🤣 Which socialist policies exactly? the Green New Deal that’s not in effect? no comment
Most of those who hate capitalism indulge in it daily.
literally stfu prager "indoctrinating kids" u
FU
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
So there’s a woman I know who has emotional disturbance issues and possibly multiple personalities. She has the typical neon hair of a libtard. Her social media is one long hate filled diatribe against capitalism. She allegedly has a degree, yet she can’t seem to hold down a job for long. I’m thinking, maybe it’s not capitalism. Maybe it’s you. 🤷🏿
TY
No, cominism is sucks, but capitalismo too. The best way is among these
Globalisation is currently out of fashion. Ask Europe.
46% of the worlds Population lives with 5.5 dollars or less. That was Said by the World bank in 2021 so You should Keep that in mind 😕
Everything correct but I can't share with my students because you promoted the communist view, not the conservative view, of evolution. "from the swamp to the moon"? Evolution teaches that we come from animals so we are still animals and that the strong beat up the weak and that is natural. Conservatives (Christians) believe that all men have a responsibility to God and to love our neighbor. Evolutionists like yourself include men like Hitler, Stalin, Mussolini and they used your theory of the world to create facism, communism and totalitarianism. Please rethink this. If there is a creator (God) then we have a moral responsibility. If we come from "the swamp" then I will NOT have any moral responsibility, the world has no rules and I will take and hurt whomever I want, whenever i want. Maybe its better if we don't convince people that we came from the "swamp". We are not both conservative…you borrowed theology and saw that it was the truth to a point…then you stopped and believed lies. Maybe you should go back and read the book of Genesis and stop calling God a liar!!!
This is such bs. Golden parachutes and sweatshops are always the endgame
Globalism is unrelated to capitalism. And regarding any large country's future, it's pretty stupid.
No because governments like the CCP change the definition of poverty. Also the right dont support the poor because it is all about companies and people starting to earn money while the left supports the poor because for a more distributed ecconomy
This is like saying feudalism was a good system because it had no unemployment lol
An argument could be made that more people are living in extreme poverty today than before. According to data from the World Bank 35 million babies are born to mothers living on $1 a day or less. Why is this?
San Jose California:
Wish someone would explain this concept to Gavin Newsom!😠🇺🇸
capitalism…..a system where bossman sleeps while you SLAVE
''Socialism is when no constitution''
I’m a simple man I see a prageru video, I dislike
It's all up to the man him/herself , his dreams , his desires and his choices.Aiming for the bigger picture always comes with hard work , times when you will reconsider your personal character to get what you want and disgrace by your surroundings in many cases.But honestly surroundings is the only thing taht shouldn't even be a minor issue , think about it they point at you when you work in a cafeteria or a bakery for example and they also point at you when you're an employee in a high profile company.It's just that for whatever you do they will point at you because they like the will to do the things that you wish to do.Spoiler alert at the end of the day , nothing too great happens on these people's lives , do nothing about to change that , yet they always conplain about not seizing tge chance they once could."Living the dream……".Every man is a piece of shit in this world people including myself , come on accept it and swallow it down , we all want to get rich…..and something final , neither do i envy the rich neither nor i despise the poor……the only thing i envy is people that have more than 10 friends in this world and that they manage to hold all the ties between them for the entirety of their lifetime.
Also just in case , you are wondering what is better , Capitalism gave you Internet and Video Games.I don't think it's even a question.Peoole that comolain about poverty once bred upon a normal working class family , should honestly shut their mouths and quit being ummm wait what's the word?Hmmm…..oh yes here it is…….LAAAAAAAAAAAAAZYYYYYYYYYYYYYYYYYYYY!!!!!!!!!!!!!!!!!!!!
Anyone looking for more information about Prager U read this: This organization is almost entirely funded by Dan and Farris Wilks, who are not educators but Billionaires in the Pretoleum business. They use the name U to give the impression they are affiliated with a university. Many of the statistics Prager U uses to argue their points do not match up with statistics from more reputable institutions like real Universities or government studies. The statistics used are often there to more easily present opinions as fact.
Man, ya'll really just be believing this OBVIOUS bs propoganda huh. Its wild. This crap is easier to see through than fox news
Than stop the embargos like the one on cuba
I remember having to struggle in life and working dead end job after dead end job I worked so many dead end jobs and got fired so many times no one would hire me because I got labeled for job hopping eventually I ended up needing to rely on the state for food , shelter, and medical care people kept telling me it was ok because these programs really help and they will help me have a better future it’s a load of bs the system wants you to rely on them even when I mentioned to social workers that I wanted more out of life they seem to attack me rather than support me eventually I got fed up and found a electrical company and a lawn care company looking for workers willing to be paid under the counter I started working 80hr weeks between the two businesses and I saved every dollar I made the state started getting suspicious of me making money and even tried to stop it again trying to keep me down and eventually after saving up I spent the money on auto detailing equipment I bought some of the best equipment money can buy and products as well and I started a cleaning service the first year was rough because I had issues getting the word out about my business but eventually as people realized I was doing an amazing job and cost less than most other competitors people started calling me up left and right by the end of the second year I made a little over 200k now that’s not crazy money but remember I went from relying on the government with nothing to my name to making over 200k in a few short years why? Because of capitalism that’s why because I had the freedom to chase a better life and I did just that I can’t stand these people who are angry that they were not born wealthy or don’t have nice things like they see on social media these losers are nothing but lazy nobodies who refuse to work
Why not communism?
Not American gift, more British
Most of that was in china, no?