4.3 • 2.9K Ratings
🗓️ 1 March 2020
⏱️ 40 minutes
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0:00.0 | This is GPS, the global public square. Welcome to all of you in the United States and around the world. |
0:07.0 | I'm Farid Zakaria coming to you live from New York. |
0:13.0 | Today on the show, the coronavirus has gone global and so has the fear. |
0:22.0 | Markets everywhere have crashed. |
0:26.0 | How bad can this all get? Is there a solution? I'll ask the experts. |
0:36.0 | Also, a new era for Afghanistan will an American pull out change the war-torn nation and for the better or worse will have a great debate. |
0:49.0 | And while in New Delhi, the sweet President Trump touted the religious tolerance of Prime Minister Modi. |
0:56.0 | He wants people to have religious freedom and very strongly. |
0:59.0 | But in the very same city, religious clashes erupted killing dozens of people this week alone. |
1:09.0 | What is going on in India? We will ask an intrepid reporter on the ground in Delhi. |
1:15.0 | But first, here's my take. I want to talk about Bernie Sanders, who is still, despite South Carolina, the odds on favorite to win the Democratic nomination. |
1:26.0 | Sanders says that his proposals are not radical at all, pointing again and again to countries in Northern Europe, such as Denmark, Sweden and Norway, as examples of the kind of economic system he wants to bring to America. |
1:40.0 | But he's even right about these countries. Take billionaires. Sanders has been very clear on the topic. |
1:46.0 | Billionaires should not exist, he says. But Sweden and Norway both have more billionaires per capita than the United States. |
1:54.0 | Moreover, inheritance taxes in Sweden and Norway are zero and in Denmark just 15%. |
2:02.0 | America's estate tax is 40%. By the way, all the data I'm going to cite here come from the non-partisan tax foundation or the OECD. |
2:11.0 | Sanders' vision of Scandinavian countries seems to be stuck in the 1960s and 70s. |
2:17.0 | A period when those countries were indeed pioneers in creating a social market economy. |
2:22.0 | In Sweden, government spending as a percentage of GDP doubled from the 1960s to the 1980s. |
2:30.0 | But as the Swedish commentator Johan Norberg points out, this experiment in Sanders style democratic socialism tanked the Swedish economy. |
2:39.0 | Between 1970 and 1995 he notes, Sweden did not create a single net new job in the private sector. |
2:48.0 | In 1991, a free market prime minister Carl built initiated a series of reforms to kickstart the economy. |
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