Capitalism or Socialism: Which One Is More Democratic?

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PragerU

Non-profit, Self-improvement, Education, Business, History

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🗓️ 26 October 2020

⏱️ 5 minutes

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Summary

What is the difference between free-market capitalism and democratic socialism? And which system is actually more fair and responsive to the needs of the people? Here’s a hint: names can be deceiving. Dinesh D’Souza has the answers.

Transcript

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0:00.0	Why is socialism so popular?
0:02.8	Less than 10 years ago, you couldn't refer to socialism in a positive way and hope to
0:08.1	have a career in American politics.
0:11.1	Socialism was referred to as the S word.
0:13.6	Now it is affirmed either explicitly or implicitly by just about everyone on the
0:18.6	left.
0:19.6	An amazingly given socialism's record of failure, the socialist seemed to be gaining
0:24.2	ground.
0:25.4	Why?
0:26.1	What makes socialism so attractive to so many?
0:30.5	Socialism according to its proponents is more democratic and therefore more moral than
0:35.1	capitalism.
0:36.9	Leftist filmmaker Michael Moore explains it for us.
0:40.2	Democratic socialism means everyone has a seat at the table and everybody gets a slice
0:44.7	of the pie.
0:46.1	The famed socialist writer Irving Howe wrote something similar in his 1982 autobiography.
0:52.2	We believe that the democracy in our political life should also be extended deeply into economic
0:57.8	life.
0:58.8	The basic idea here is that socialism is vindicated through its roots and popular consent.
1:04.6	If a majority of people working through their elected representatives, declare something
1:09.2	to be a public entitlement, say free college or free healthcare, then they are justified
1:14.5	in extracting resources from those who create wealth to pay for it.
	...

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