4.7 • 6.8K Ratings
🗓️ 4 March 2024
⏱️ 6 minutes
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What is the only economic system that values freedom, lifts people out of poverty, disdains distinctions of race and creed, and draws us into productive networks of mutual dependency? Hint: it’s not a system of ever-increasing government control.
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0:00.0 | Okay, we're told so maybe capitalism is efficient. |
0:04.6 | Maybe it generates more wealth than other systems, but what about values? |
0:09.2 | What about things that can't be measured in cash? |
0:11.8 | Things like kindness and loyalty and integrity. |
0:15.6 | Well, let me say something that you won't hear very often. |
0:20.0 | Let me make the moral case for capitalism. |
0:25.0 | Let's go back nearly 12,000 years, |
0:28.0 | to the moment when one of our ancestors made a world-changing discovery. |
0:32.0 | It turned out that if you left seeds in fertile soil, |
0:35.6 | plants would grow from them. Instead of having to forage, you could produce your own grains or |
0:40.7 | fruits where you wanted. |
0:43.0 | But it didn't take long for someone to make the next discovery. |
0:47.2 | Rather than spending all year tending to your own crops, you could wait for your neighbor |
0:52.0 | to bring in his harvest and then steal it. |
0:55.0 | And then came the truly diabolical discovery. |
1:00.0 | If you wanted to maximize the ratio of effort to outcome, you could |
1:04.4 | could organize a gang of thugs and seize not only your neighbor's harvest, but everyone's |
1:08.8 | harvest, regularizing your plunder through tithes, tolls, and taxes. |
1:14.3 | And thus it continued until, well, |
1:17.0 | until roughly the end of the 17th century |
1:18.9 | and the birth of modern liberal capitalism. |
1:21.9 | Sure, there were premonitions before then little tremors of freedom, but almost everyone |
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