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Socialism For The Rich; Capitalism For The Poor

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View: https://www.youtube.com/watch?v=6nzpVPjncyI


Apparently going from 0 to 1 requires government funding (apple's touch screen, tesla's electric car, the internet etc.) because venture capital normally wants its return within 5 years, where as these sorts of ventures require 15-20 years to really sort out the bugs and get fit for market.

Nice little short doc. worth watching.

Do you agree with its premise; yes/no - why?​
 

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Digamma

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In first 20 seconds the video describes "Finland and Sweden" as a "gray area".

They aren't. Social democracies are fundamentally rooted in capitalism.

The video continues throwing at you example after example in order to create a narrative without stating it. And it's just as garbage as it sounds.

We live in corporatist societies.

It's not capitalism.

It's not "modern capitalism", to use the way the video puts it, in the same way a dog is not a "canine cat".

The video segues in a series of nonsensical statements like "it is often believed we simply need the government to pull us out of a recession, with no real theory of government's role in also driving the boom".

That's just incorrect. The government drives economic growth in good times just like in recessions, as anyone with half an idea of how things work will tell you.

Which means, guess what? That we don't have capitalist economies.

Then it says, like it's an interesting point, that most of the public spending is done in boom markets.

When the economy is good the government can spend more. No shit, Sherlock.
The underlying assumption being that the way the government handles a recession would be by spending money (just an example of the unstated wrong assumptions in the video).

The conclusion of the video is the usual left-wing doublethink. "The critique is that big government is bad for growth". Yeah, that doesn't mean what the author of the video seems to think it means. "Socializing the risk, privatizing the results." Where does the money the government invest come from? How's that for capitalism?

I'll close saying that I am a fan of social democracy, and consider it the best compromise (although in a different form than how it's currently practiced). And I do think healthcare as you have in the US is a mess. My problem with the video is that it is incorrect, begs the question, and is fundamentally dishonest.
 
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ChrisV

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I think this is a totally biased opinion piece. YOU benefit from apple's touch screen, tesla's electric car, and the internet. So if its socialism for the rich, bring it on. This guy sounds like he's complaining about it not being fair. Whatever.

By the way, this was one of the most life changing talks I've ever seen. I think it should be required viewing for any Fastlane Entrepreneurs:

View: https://www.youtube.com/watch?v=iOu_8yoqZoQ
 
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ChrisV

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Watched it, thank you for sharing
I ended up posting this talk to it's own thread, with additional details. Glad you liked it.

 

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