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We do not have the capitalism of the post war era, now in Canada we have corporate cartels that have few competitors by government collusion with them. There are only a small number of telecoms to choose from, same with grocery chains, and this is why Canadian banks became so successful and powerful, it was with the aid of the government to stop competition from foreign companies. That was perhaps a good reason back then but today it has become increasingly difficult for consumers to access cheap telecom services and same with groceries, besides all of the taxes we pay on top of other taxes, on top of other taxes to pay for our ever growing bureaucracy.

Blowback from WW2-was premeditated to grow anti government ideology and rampant economic crime leading towards devalue of money and causing war !

I was introduced to Dr. Sowell while an undergraduate student in the late 1980s. He has been a beacon of light for me whenever I was going through my periods of confusion and questioning how the world really works and how it should be understood. He takes no intellectual prisoners, and he stands upon facts and research, never on opinion. He has passed on to his final destination, but he still impacts us with his clear thought and erudition. He was a gift to us all and I was blessed to have read many of his works and to have heard many of his talks.

We're a REPUBLIC, not a democracy

His videos should replace all high school and college economics professors. Just a TV with Milton Friedman speaking.

Socialism fails every time. Whoever, wherever, whenever.

US healthcare 😂

Milton Friedman was simply brilliant for calling out big government

I appreciate that he specified that socialism is not a good economic system. As stated, that is true. However, ALL governments are socialism in action. This is irrespective of the method of government (i.e.: Democracy, Theocracy, Autocracy, and, yes, as misguided as it is, Communism). Government is a social construct to take small amounts of resources from those within its state in order to (presumably) expend such resources to the benefit of all (i.e.: roads, protection, etc.). Capitalism, on the other hand, is an extraordinarily powerful engine of economic growth, which is why so many western-style countries use it. This economic system has flaws, as all systems do, which is why any government using such an economic system must use taxation and social distribution to ameliorate them. Sometimes (though, hopefully, rarely), this can go the other way, where a government must assist a sector of businesses (or even all - remember COVID?) to get through unforeseen problems and keep that economic engine primed during such times.

Always an easy target, the U.S. Postal Service is a SERVICE. If it makes money, Congress takes it to pay for other programs. If delivering the mail was up to corporations, mail would cost much more, would not come to your home, and you'd have to go pick it up.

Socialism has failed so many times, because it destroys the mainspring of progress, which is entrepreneurial risk taking and innovation. Government employees are only interested in keeping their jobs and calling for higher salaries. But each new generation thinks that THEY will get socialism right. Fools.

If there wasn't any such thing as corporate welfare we could say that we have capitalism. But what we have is socialism for corporations.

Greed. It’s about greed.

Some things like the post office are a social good and social infrastructure much like roads and the interstate. We've seen that capitalism doesn't always work well for other things as well like energy distribution.

We do not have market controlled capitalism. What we have is capitalism protected by the government as to alleviate corporations from the influences of natural market competition. It is no longer 'Free Market'. What corporations pay our government for is 'Free FROM market'. Free from taxes Free from regulation Free from competition Free from labor disputes etc. etc. etc..

But capitalism gets bailed out by Government, which than becomes socialism

Efficiency? Government should be there for the good for the people.

Why is this all about efficiency? Why isn't the concern that of fairness and commonweal? Capitalism unchecked ruins the middle class and economic stability.

As a young father, I learned a little about the welfare state, I had an infant son and was struggling financially in the early 80s, my landlord suggested applying for help. I went to the welfare office for an interview, I answered a bunch of questions as my interviewer took notes with a positive attitude until he asked me if I had a car. I told him that I had a 1979 Chevrolet Monte Carlo, he looked in a little book and said the car is worth 5k and that made me ineligible. He told me to sell the car, spend the 5k and he could help me with food stamps. I took this to mean you have to be totally broke and dependent on them before they will help you, and I wasn't willing to sell my car for several reasons. I used my car to get to and from my minimum wage job, and the car was a wedding present from my in-laws who would never forgive me. I chose to work 7 days a week and any extra hours that I could until I found a better job. I never asked welfare or anyone for financial help again. I went on to have two more children and retired in 2021 with a 35 year pension and my children all better educated and earning more than I ever did.

I'm not a book smart person but I am a forever student of the school of life. I love listening to this man and learning of his incredible life.

He's a Gentleman, through and through.

As a lawyer this gave me chills. Pure chills. Great stuff.

And in order to get someone to buy your product, they have to have money you can’t sell to people with no money fool! It’s not possible for everyone to own a business and sell products ,without people with money to spend .

Although its intellectual handmaidens love to insist otherwise - capitalism is not a system that truly embodies freedom. We all feel it, of course - that nagging sense that we lack any agency over the choices that shape our lives, the frustration we feel at our bosses, the tension we feel with our landlords, the sense that we’re all just stuck in a rat race. We might lack the language to articulate it, or a framework within which to situate it, but we all know, deep down, that this ain’t it. That there’s something deeply wrong.

I'm asian and I love Thomas Sowell. Race has nothing to do but a point to make is people of all colors benefit from his objective view of human nature.

Oh yes, I see why Democrats are not fond of him. He wants us to be wiser, better, have unified families again, etc...

So well, soul, Sowell

Sowell is and will always be one of the greatest thinkers of our time on all things human. Greatly admire him.

truly a great man

Yes, he's an honest intellectual!! I love and respect him. He is, as others have stated, A NATIONAL TREASURE.

Admitting to observing from afar, to sum up Dr. Thomas Sowell: FACTS. ❤

As long as corporations are all in absolute control over the media and the Internet and may contribute to elections and politicians, we will have legalized censorship and legalized bribery. There will be no free speech as long as corporations and government corruption will get worse until we see George Orwell's prophecy of 1984 come true in its entirety.

Crackpot Voodoo "economist"

Consent of the governed? When did anyone give this? There is no legal document with our signatures giving permission to be ruled.

That did not describe a democracy, fail

This brother lives a unreal world. That ehy white man loves.

"We hold these truths to be self-evident, that all men/human beings are created equal. That they are endowed by their creator with certain inalienable rights. That among these are Life, Liberty, and the Pursuit of Happiness..." 😁👍

Rid the world of oligarchs and their man made religion and you will have world peace.

Capitalism is fine. It’s the protectionist BS we have going on that’s killing us.

In capitalism with a constitution, you can choose to leave a job because You decide it's value. In socialism, your value means nothing because a person working on an oil rig gets the same as a person handing out straws. Capitalism isn't always fair because people let themselves be treated unfairly, socialism is ALWAYS unfair because you don't have a choice and when you try to make a choice, a dictator will stop you because you don't have rights.

Yes! If you don’t force 5% of the population just to keep a cheap source of labor. And have 50% of the profits given to the Employees.

Capitalism tries to tame greed. Socialism tries to remove greed.

It was American Ingenuity and capitalism that beat the Soviet Union and the dictatorship of Stalin and Hitler. Even the Chinese Communist can't compete with American capitalism (changing now I believe). There's NEVER been a system that has brought more people OUT of poverty than capitalism. Allowing people to design, work, and live how they choose too without government influence or pressure. Rather incentives for creating as well. There's no system on this earth that donates or has donated more than the American capitalist private sector. Because we incentivize it....they donate then it's taken off taxes, like every American.

Every American citizen should listen to Milton Freedman's economic lectures. Every citizen must be educated on the principles on which our nation's economic engine operates. We have been dumb down by Woke Marxists who want to "build back better" our great country.

If he is talking about SS then he is full of it. Most people cannot save for the future. They will spend every dime that they make.

They give them money now. this is really old.

Yup. Ultimately, we're all slaves.

AND OUR GOVERNMENT MAKING US PROMISES

And the government will get a cut of every transaction.

And that was the 90s!