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HOT TOPIC Should I be worried about capitalism changing? Or am I overthinking it?

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Zach123

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Hey guys I’m new to the forum, just finished Millionaire Fastlane and on to unscripted now, but something I’m really worried about with starting to be an entrepreneur and can’t get out of my mind so hopefully someone can help me clear my head, is anyone else worried about liberals wanting to change capitalism? I hear they think the current system is unfair and want to change it which sounds scary. Is it going to ruin it for entrepreneurs in America or is this something that I’m over thinking and shouldn’t worry about? If you haven’t heard anything about this then it probably means It’s not as big a deal as I think, thanks
 

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Is it going to ruin it for entrepreneurs in America or is this something that I’m over thinking and shouldn’t worry about?
Something to think about, but not something to block your way.

It's kinda like saying, "Why should I build a business when an asteroid might kill us all one day?"

Also, the anti-capitalists are a big voice in America backstopped by big donors and big politics. They have a big bullhorn, but they are a small minority in real America.

Also, you can shift your approach toward social entrepreneurship or conscientiousness capitalism, for instance, offer a % of profit to a cause you find worthy. This might appeal to those who think the market is as large as the bullhorn.
 
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Zach123

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Something to think about, but not something to block your way.

It's kinda like saying, "Why should I build a business when an asteroid might kill us all one day?"

Also, the anti-capitalists are a big voice in America backstopped by big donors and big politics. They have a big bullhorn, but they are a small minority in real America.

Also, you can shift your approach toward social entrepreneurship or conscientiousness capitalism, for instance, offer a % of profit to a cause you find worthy. This might appeal to those who think the market is as large as the bullhorn.
That’s a good point, end of the world stuff like the “asteroid might kill us all one day” is definitely a motivation killer, and sorry, I just overthink everything.
 

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Switch your news feed or go no-news temporarily. Delete your facebook feed. It will make you feel better. Yes, there are people who hate everything "capitalist." For the most part they just make noise though.

The best thing you can do to preserve capitalism and free (-ish) markets is participate in them!

Second best thing, get other people to participate too. Show people that entrepreneurs are the ones bringing products and services to their neighborhoods, and that directly affects quality of life.

Next best after that, help out some free market non-profits that want to improve the human condition by making poor people richer, as opposed to liberal ones that gas-bag about their zero-sum world where successful people are evil. Reason, Atlas, and FEE are decent starting points if you're interested. Don't let them distract you from starting a business though.
 

Ninjakid

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Hey guys I’m new to the forum, just finished Millionaire Fastlane and on to unscripted now, but something I’m really worried about with starting to be an entrepreneur and can’t get out of my mind so hopefully someone can help me clear my head, is anyone else worried about liberals wanting to change capitalism? I hear they think the current system is unfair and want to change it which sounds scary. Is it going to ruin it for entrepreneurs in America or is this something that I’m over thinking and shouldn’t worry about? If you haven’t heard anything about this then it probably means It’s not as big a deal as I think, thanks
LOL

LOL

LOL

LOLx1,000,000

Dude, almost every country in the world is capitalist, except for North Korea, and maybe some others.

Don't listen to the labels. America will forever be a capitalist country.

Even the "liberals" you describe wouldn't be able to stop it; nor would they want to. Polititians all rely on money from business to get/keep their positions.

Where do you think all that tax money comes from?

Even in my Canada, which many people think is more liberal, the day business disappears is the day society collapses. The best places to live here have the most business activity.

People aren't so hell-bent on their own self-destruction that they would abolish capitalism.

 

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@Ninjakid as much as I wish I could agree, it's pretty easy to find people who can be convinced to destroy themselves economically. Venezuela is a disaster because people with no understanding of economics took the reins... and they have supporters even now, with the people starving and jumping into the ocean to swim to the nearest island, because their chance of survival is higher that way than staying and starving.

I know several people in the US who believe business is inherently evil. Only wise and appropriately diverse people in government can distribute what little the planet has to offer, in their minds. A cousin of mine, fresh from a liberal arts education in Ireland, explained with a straight face how she so admired Mao's farm programs, and some of Lenin's wise policies. People believe what they believe.

That said, it should absolutely not stop anyone from starting a business. If you think whackos are gaining power and control, you should also gain power and control. Business is your tool for doing that. Plus, it's more fun than most of the other options.
 

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@Ninjakid as much as I wish I could agree, it's pretty easy to find people who can be convinced to destroy themselves economically. Venezuela is a disaster because people with no understanding of economics took the reins... and they have supporters even now, with the people starving and jumping into the ocean to swim to the nearest island, because their chance of survival is higher that way than staying and starving.

I know several people in the US who believe business is inherently evil. Only wise and appropriately diverse people in government can distribute what little the planet has to offer, in their minds.

That said, it should absolutely not stop anyone from starting a business. If you think whackos are gaining power and control, you should also gain power and control. Business is your tool for doing that. Plus, it's more fun than most of the other options.
You made some points I agree with. Yes Venezuela is an example of a country destroying itself economically. It mostly went bad right after Hugo Chavez died.

However, here is where I disagree. Venezuela and America are different cases. Despite what the media will tell you, America is quite prosperous, and is only getting better. Many people in America have decent jobs, and are comfortable enough with their lives.

Even if people tell you they hate capitalism, they have too many creature comforts they wouldn't be ready to give up.

Venezuela is a different case. You have a fed up starving population with literally nothing to lose, and power-hungry tyrants running the country. The las thing they would ever do is give power to the angry people they've oppressed and exploited for so long.

it's not so much that the leaders of Venezuela don't understand economics (even though that is true). The main point is they are assholes lol. If you look at history and even current times, poverty is what breeds tyranny. When people are hungry, they get violent and restless. When people get violent and restless, countries become unstable. When counties become unstable, leaders try to keep power using ruthless means.

America, despite having many hungry people, is far from a hungry country. They're not going to break the system that's been working so wonderfully.
 

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LOL

LOL

LOL

LOLx1,000,000

Dude, almost every country in the world is capitalist, except for North Korea, and maybe some others.

Don't listen to the labels. America will forever be a capitalist country.


Even the "liberals" you describe wouldn't be able to stop it; nor would they want to. Polititians all rely on money from business to get/keep their positions.

Where do you think all that tax money comes from?
Don't you realise this exact thing could've been said before the communist takeover of any previously capitalist regime?

People aren't so hell-bent on their own self-destruction that they would abolish capitalism.
That didn't stop nearly a third of the world being under communist rule at one point.



You made some points I agree with. Yes Venezuela is an example of a country destroying itself economically. It mostly went bad right after Hugo Chavez died.
1950: Most prosperous country in Latin America, 4th highest per capita GDP in the world. Bolivar currency was one of the strongest, stablest in Latin America.

1995: 70% of population live in poverty.

2006, Foreign Affairs:
No, it didn't "mostly went bad right after Hugo Chavez" died. They just entered another circle of hell.

---
Being scared and overthinking is a waste of time and emotional energy, but at the same time it's idiotic to dismiss someone's concern with "LOL". Bad things are real. And just because you've lived in a safe little bubble until now, doesn't mean future risks are zero.
 

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Longinus

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Agree with Ninjakid here.

Don't you realise this exact thing could've been said before the communist takeover of any previously capitalist regime?
Most communist takeovers were rooted in extreme crisis, social unrest or coups. For that to happen in the US, there should be a larger depression than they saw in the 30s.

There's simply no way that the USA will suddenly change into the United Socialist States of America. People just like to bitch, but no-one wants to trade their fancy latte iPhone lifestyle with a sober Soviet "I only have one pair of shoes" one.

Funny they call socialists "liberals" in America btw. Because almost all capitalist countries have a "liberal" government, some mix it even with "socialist". It's all rooted in capitalism after all.
 

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Don't you realise this exact thing could've been said before the communist takeover of any previously capitalist regime?
Tsarist Russia was underdeveloped, impoverished, and run by an incompetent tyrant. Disgruntled members of the Imperial military were mostly responsible for the takeover, not liberals getting into power.

Again, you're confusing the types of countries Tsarist Russia was and modern day USA is.





Don't you realise this exact thing could've been said before the communist takeover of any previously capitalist regime?


That didn't stop nearly a third of the world being under communist rule at one point.





1950: Most prosperous country in Latin America, 4th highest per capita GDP in the world. Bolivar currency was one of the strongest, stablest in Latin America.

1995: 70% of population live in poverty.

2006, Foreign Affairs:

No, it didn't "mostly went bad right after Hugo Chavez" died. They just entered another circle of hell.

---
Being scared and overthinking is a waste of time and emotional energy, but at the same time it's idiotic to dismiss someone's concern with "LOL".
@Rabby sorry man, I didn't mean "LOL" at you. "LOL" was directed at the people who think capitalism is the root of all evils, yet have benefitted tremendously from it. I can see now that I should have specified that though.
 

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Hey guys I’m new to the forum, just finished Millionaire Fastlane and on to unscripted now, but something I’m really worried about with starting to be an entrepreneur and can’t get out of my mind so hopefully someone can help me clear my head, is anyone else worried about liberals wanting to change capitalism? I hear they think the current system is unfair and want to change it which sounds scary. Is it going to ruin it for entrepreneurs in America or is this something that I’m over thinking and shouldn’t worry about? If you haven’t heard anything about this then it probably means It’s not as big a deal as I think, thanks
I'm very liberal - and also very capitalist. They aren't at all mutually exclusive ;)
(Though financially I'm probably more moderate)

That being said, historically, capitalism and taxation and corporate structure and everything associated with the flow of financial and intellectual resources is always in a constant state of flux. If you look back to the 1920's there are similar kinds of apprehensions to 'the scary liberals'. And the market has changed A TON since then. And undoubtedly will change A TON in the next century.

I'd worry less about scary liberals or tight a$$ conservatives and focus on the value you can bring to the world and the markets. That will have a far stronger effect. "Modern Liberalism" is actually a pretty strong market indicator on what a demographic of people values.

Have you seen the huge boon in organics?
Organics have a ton of drawbacks and may environmentally be a wash compared to standard produce.
Yet, those liberals will pay an arm and a leg for it.

Anytime you have a group of anyone who's like-minded, you've probably found yourself an interesting market. So focus on your product and what the market wants. Good luck
 

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Loud politicians aren’t the problem. Idiot voters are.

I am concerned that a wide majority of voting public support 75+ percent taxes on the “wealthy” only basically definied as “not them.”

I am concerned that a wide voting majority supports a retroactive “wealth tax.”

I am concerned when I hear that a voting majority supports a 100% death tax.

Yes, I am concerned.... But no more concerned than I have been for more than a decade. I have always held the notion that when this country no longer makes sense for me to live in, I will leave. I control my life... Not politics.
 

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America, despite having many hungry people, is far from a hungry country. They're not going to break the system that's been working so wonderfully.
America’s poor are obese.
 

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Switch your news feed or go no-news temporarily. Delete your facebook feed. It will make you feel better. Yes, there are people who hate everything "capitalist." For the most part they just make noise though.

The best thing you can do to preserve capitalism and free (-ish) markets is participate in them!

Second best thing, get other people to participate too. Show people that entrepreneurs are the ones bringing products and services to their neighborhoods, and that directly affects quality of life.

Next best after that, help out some free market non-profits that want to improve the human condition by making poor people richer, as opposed to liberal ones that gas-bag about their zero-sum world where successful people are evil. Reason, Atlas, and FEE are decent starting points if you're interested. Don't let them distract you from starting a business though.
Excellent advice!
 

DonTriumph

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Hey guys I’m new to the forum, just finished Millionaire Fastlane and on to unscripted now, but something I’m really worried about with starting to be an entrepreneur and can’t get out of my mind so hopefully someone can help me clear my head, is anyone else worried about liberals wanting to change capitalism? I hear they think the current system is unfair and want to change it which sounds scary. Is it going to ruin it for entrepreneurs in America or is this something that I’m over thinking and shouldn’t worry about? If you haven’t heard anything about this then it probably means It’s not as big a deal as I think, thanks
I also worry about that. But like @MJ DeMarco said, it shouldn't block you from being an entrepreneur.

After all, the USA is founded on liberty and capitalism has always been an integral part in American life. So despite some population want to change the current system, some Americans, "real" Americans, will resist and defend the freedom they long enjoy.

And yes, there are many capitalist countries aside from USA. My country, Philippine, is also a capitalist country.

I suggest just focus on your entrepreneurial journey and don't listen too much on the news. They just play on your mind and confuse you.
 

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This is a good thing, snowflakes are the easiest ones to separate from their money. Don't be one of them, be a producer. Fulfill their fears and insecurities, ditch yours.
 

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@Rabby sorry man, I didn't mean "LOL" at you. "LOL" was directed at the people who think capitalism is the root of all evils, yet have benefitted tremendously from it. I can see now that I should have specified that though.
No problem! I didn't read it in a negative light :)
 

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This is a good thing, snowflakes are the easiest ones to separate from their money. Don't be one of them, be a producer. Fulfill their fears and insecurities, ditch yours.
Side note... both parties should be enriched at the end of a transaction.
 

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Side note... both parties should be enriched at the end of a transaction.
Win-win... That is the premise of capitalism.

It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. -Adam Smith
 

DonTriumph

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Win-win... That is the premise of capitalism.

It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. -Adam Smith
Yes, win-win is the premise of capitalism.

Even if we give way to the fact that capitalism has holes out of human imperfection - corporate greed, rip offs, irresponsibility to workers, customers and environment, among others - only capitalism so far gives every people a chance to pull themselves out of poverty and improve their lot in life.

I don't understand why some people don't understand this.

And I'm not talking about poor people who knew nothing because they didn't finish grade school and can't afford school or books to read.

I am talking about college students, and especially I'm talking about professors.

Obviously with exceptions, they preach the "evils" of capitalism in their classes, highlighting how businesses "exploits" their workers... how the bourgeoisie exploits the proletariat. But so far, I never heard anyone of them talk about the Gulag, Soviet Union, North Korea, forced labor from these dictatorial states, and economic collapse that follows after.

I do not understand if they are just naive and hoping for a Marxist utopia - which premise is flawed from the very beginning, LOL. Or do they really want to exchange their freedoms with communist dictatorship?

It makes me scratch my head.
 

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Greed, rip-offs, etc pre-date capitalism by centuries, so they should be no surprise. The real innovation is that when people are given rights, and when property can be freely exchanged, people thrive despite the underlying problems caused by bad actors.

Professors like to extend from theoretical frameworks. Marx has become a popular choice for their theoretical basis. In the US, it reaches the point of absurdity -- graduate school was akin to political catechism at times.

@DonTriumph The attractive thing about Marx, to them, is that while he talks about community, and fairness, and putting the tools in the hands of the workers, and whatnot, he also relies on wise and benevolent elites to decide what is best for the community. This makes professors blush and get all huffy because, in their minds, they are the aforementioned elites. It's like making yourself the aristocracy without having to admit you're putting yourself above other people... very attractive!

Also worth noting... "capitalism" was a term coined by Marx(ists) as a slander against modern (classical liberal) values. What it really refers to is property rights and the moral rights to free action and life choices. These rights are seen as damaging or dangerous because, in their theoretical framework, an individual can not be trusted. A small number of elites deciding what is best for "the collective?" Sure, they can be trusted all day.
 

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Tsarist Russia was underdeveloped, impoverished, and run by an incompetent tyrant. Disgruntled members of the Imperial military were mostly responsible for the takeover, not liberals getting into power.

Again, you're confusing the types of countries Tsarist Russia was and modern day USA is.


@Rabby sorry man, I didn't mean "LOL" at you. "LOL" was directed at the people who think capitalism is the root of all evils, yet have benefitted tremendously from it. I can see now that I should have specified that though.
I heard Nicholas II wasn't a tyrant, but definitely incompetent.
He just didn't give a shit about ruling, and eventually abdicated the throne.
But it was too late cause the seeds of revolution were planted and he got killed anyway.

The emancipation of the serfs happened in 1861, and the Russian government hoped a free market economy would blossom.
Seems like it didn't quite work out. Guess not everyone had the entrepreneurial spirit.
Some serfs bought the land they lived on from their former masters.
Many serfs couldn't afford it and basically became employees who now had to pay rent.
It's all very complex and i won't pretend to understand all the economic nuances of that.

By the early 1900's, many were indeed impoverished, and i believe land ownership inequality played a big role.
The rich landowners spent much of their time out of country in places like Paris, and didn't give a shit about the state of the masses either.

I guess when a lot of people collectively feel like they can't survive any other way, they start a revolution.

Maybe some people don't give a shit about business or entrepreneurship and just wanna own a small plot of land, farm to sustain themselves, pay a little tax to the powers that be, and live life.

Or i could be totally wrong about all this LOL
 
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the current system is unfair
It is about things that are "beyond" the control of the 'system'. Free market is and will be. If you are a afraid to fail. You are unfair. Nothing in life worth living is 'fair'. People saying 'things' will be fair cannot deliver and will be unfair. Capitalism? It is. It is not going to have any concern. Look to provide value. Look to produce before you consume. Find that fair. It is beyond what they consider. Get into unscripted.
 

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I heard Nicholas II wasn't a tyrant, but definitely incompetent.
He just didn't give a shit about ruling, and eventually abdicated the throne.
But it was too late cause the seeds of revolution were planted and he got killed anyway.

The emancipation of the serfs happened in 1861, and the Russian government hoped a free market economy would blossom.
Seems like it didn't quite work out. Guess not everyone had the entrepreneurial spirit.
Some serfs bought the land they lived on from their former masters.
Many serfs couldn't afford it and basically became employees who now had to pay rent.
It's all very complex and i won't pretend to understand all the economic nuances of that.

By the early 1900's, many were indeed impoverished, and i believe land ownership inequality played a big role.
The rich landowners spent much of their time out of country in places like Paris, and didn't give a shit about the state of the masses either.

I guess when a lot of people collectively feel like they can't survive any other way, they start a revolution.

Maybe some people don't give a shit about business or entrepreneurship and just wanna own a small plot of land, farm to sustain themselves, pay a little tax to the powers that be, and live life.

Or i could be totally wrong about all this LOL
I think you know the history better than me haha.

But Nicholas II was called "Nicholas the Bloody." He frequently had people assassinated and in general used violence to suppress his opponents. Not that this was uncharacteristic of monarchs in the old days. Many monarchs were weak rulers who relied on fear to keep their subjects in line.

But yeah, Russia lacked the infrastructure and systems to facilitate entrepreneurship. They were about 50-100 years behind the rest of Europe. It's hard to see opportunity when you're just trying not to freeze or starve to death.

And yeah, Russia was very much like a feudalism; landowners held all the wealth and didn't give a damn about the welfare of the common folk.

I guess when a lot of people collectively feel like they can't survive any other way, they start a revolution.
This is the major point: Russia didn't turn communist because extreme-leftists got a voice. It was because things were so bad that the average person literally had nothing to lose. Communism just appealed to people's deep hatred for the upper class, who prospered while everyone else suffered.

Maybe some people don't give a shit about business or entrepreneurship and just wanna own a small plot of land, farm to sustain themselves, pay a little tax to the powers that be, and live life.
You also have to understand, people's perspectives are often based off of that they see. When everyone around you is fighting to stay alive, then having a small farm which is enough to keep yourself and your family afloat often seems more than enough. We generally don't realize this today because we're so insanely well-off today compared to people 100 years ago.

Societies become more developed as they move away from agriculture and towards industry as the primary means of production. It makes sense, first you make sure there's food then you can worry about having things.

In Russia, the farmers who were sustaining themselves actually WERE the entrepreneurs. And they weren't even really rich, they just weren't starving. But they were better off than their peers, and they were the first targets of the communist revolution. Ironically, they were also the ones feeding everyone, so when they got purged, the commies basically shot themselves in the foot.
 

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Maybe we can capitalize on this... put together little Marxism survival starter kits, but they’re actually highly profitable turnkey entrepreneurial businesses. That’ll teach em! Mua hahaha
 

DonTriumph

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I think you know the history better than me haha.

But Nicholas II was called "Nicholas the Bloody." He frequently had people assassinated and in general used violence to suppress his opponents. Not that this was uncharacteristic of monarchs in the old days. Many monarchs were weak rulers who relied on fear to keep their subjects in line.

But yeah, Russia lacked the infrastructure and systems to facilitate entrepreneurship. They were about 50-100 years behind the rest of Europe. It's hard to see opportunity when you're just trying not to freeze or starve to death.

And yeah, Russia was very much like a feudalism; landowners held all the wealth and didn't give a damn about the welfare of the common folk.


This is the major point: Russia didn't turn communist because extreme-leftists got a voice. It was because things were so bad that the average person literally had nothing to lose. Communism just appealed to people's deep hatred for the upper class, who prospered while everyone else suffered.



You also have to understand, people's perspectives are often based off of that they see. When everyone around you is fighting to stay alive, then having a small farm which is enough to keep yourself and your family afloat often seems more than enough. We generally don't realize this today because we're so insanely well-off today compared to people 100 years ago.

Societies become more developed as they move away from agriculture and towards industry as the primary means of production. It makes sense, first you make sure there's food then you can worry about having things.

In Russia, the farmers who were sustaining themselves actually WERE the entrepreneurs. And they weren't even really rich, they just weren't starving. But they were better off than their peers, and they were the first targets of the communist revolution. Ironically, they were also the ones feeding everyone, so when they got purged, the commies basically shot themselves in the foot.
I read somewhere that monarchies (before) actually hate capitalism because it threatens their class structure where the monarch can safely safeguard his throne.

Hmmm... I just realize it. At least for the Russians, communists didn't fought capitalism but monarchy. And clearly they're different structures: monarchies has a class structure that safeguards the monarch. Capitalism cuts this structure off and gives way to those who are willing to risk and work hard, meaning any people can be as rich as a monarch. Of course kings won't like this!
 

Rabby

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Maybe we can capitalize on this... put together little Marxism survival starter kits, but they’re actually highly profitable turnkey entrepreneurial businesses. That’ll teach em! Mua hahaha
This needs to exist.
 

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