Robert Lawson on Why Socialism Sucks

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 10 November 2021

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode 367, we welcome our guest, Robert Lawson, director of the Bridwell Institute for Economic Freedom at (SMU) and author of Socialism Sucks: Two Economists Drink Their Way Through the Unfree World. In today’s episode, we’re talking about some of my favorite topics – capitalism, travel, and beer! Robert traveled around the world to visit socialist countries and let’s just say the crappy beer wasn’t the only thing he didn’t like about the trip. We start by defining what true socialism is, why Sweden isn’t actually a socialist country, and look at Venezuela, Cuba, and North Korea to see what true socialism looks like in the world today. Surprise, surprise: it’s not good. Next, we discuss why socialism has a false utopian vision for the world and the reasons why this terrible idea just won’t go away. As we wind down, we chat about some current topics in the U.S., including UBI, student-loan forgiveness, and the lack of financial education in schools. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by Masterworks. Masterworks is opening the doors to top-tier, blue-chip art investments to everyone. Visit masterworks.io/meb to skip their wait list. Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, an excel quant backtester and the entire research library. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Medfaber Show, where the focus is on helping you grow and preserve your wealth.
0:11.2	Join us as we discuss the craft of investing and uncover new and profitable ideas, all to help you grow wealthier and wiser.
0:17.3	Better investing starts here.
0:19.8	Metfabor is the co-founder and chief investment officer at Cambria Investment Management.
0:23.6	Due to industry regulations, he will not discuss any of Cambri's funds on this podcast.
0:27.3	All opinions expressed by podcast participants are solely their own opinions and do not reflect
0:30.7	the opinion of Cambria Investment Management or its affiliates.
0:33.3	For more information, visit camberiainvestments.com.
0:39.2	What's up, everybody today Today, we have a great episode. Our guest is the director of the
0:43.0	Bridwell Institute for Economic Freedom at SMU, an author of Socialism Sucks. Two economists drink
0:48.6	their way through the unfree world. In today's episode, we're taking some time to talk about
0:53.1	some of my favorite topics.
0:56.3	Capitalism, travel, investing in beer.
1:02.3	Our guest traveled around the world to visit socialist countries, and let's just say the crappy beer wasn't the only thing he didn't like about his trip.
1:07.9	We start by defining what true socialism is, why Sweden isn't actually a socialist country,
1:11.8	and look at Venezuela, Cuba, North Korea to see what true socialism looks like in the world today. Surprise, surprise, it's not good. Next, we discuss why socialism
1:17.9	has a false utopian vision for the world and the reasons why this terrible idea just won't go away.
1:23.4	As we wind down, we flip the script. We chat about how to improve capitalism and chat about some current topics in the world today, including universal basic income, student loan forgiveness, and the lack of financial education in schools.
1:36.1	This episode is sponsored by our friends at Y charts. Building a proposal for a household with accounts scattered across multiple custodians is a headache.
1:44.8	You're flipping through statements, trying to piece together a picture that the client probably
1:48.4	doesn't fully understand either.
1:50.7	Whitecharts just made that process a whole lot easier.
	...

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