0:00 capitalism is an to me is it's an
0:03 ideology of capital It puts capital the
0:07 most important thing is the
0:09 concentration of capital and it means
0:13 that we seek and prioritize profit and
0:16 the accumulation of money above all else
0:21 and we seek it at any human and
0:23 environmental cost That is what that
0:26 means And to me that ideology is not
0:29 sustainable and cannot be redeemed Let
0:31 me start with something I've said for
0:33 years People who think they can remake
0:35 the world to suit their visions usually
0:36 end up breaking it instead
0:39 Um Miss Oasiac Cortez statement is a
0:42 textbook example of that a stew of
0:44 buzzwords and moral posturing that
0:46 collapses under the weight of facts and
0:48 history She's not describing capitalism
0:51 She's caricaturing it and badly Let's
0:53 take this apart piece by piece because
0:55 there's too much ignorance here to let
0:56 it slide First she calls capitalism an
0:59 ideology of capital that prioritizes
1:02 profit above all else That's a slogan
1:05 not an analysis Capitalism isn't about
1:08 worshiping money It's about voluntary
1:10 exchange People trade goods services and
1:13 ideas because both sides benefit not
1:16 because someone's hoarding a pile of
1:17 gold Wealth isn't concentrated like some
1:20 cosmic injustice It's created Take Henry
1:22 Ford He didn't steal his fortune He
1:24 built cars millions could afford
1:25 revolutionizing transportation and
1:27 employing thousands Or look at Steve
1:29 Jobs Apple's innovations didn't
1:31 concentrate wealth They generated it
1:33 lifting living standards worldwide The
1:36 World Bank says global extreme poverty
1:38 fell from 36% in 1990 to under 10% by
1:42 2019 Over a billion people lifted up not
1:45 by socialism's promises but by market
1:48 spreading opportunity Compare that to
1:50 Venezuela Under socialist rule since
1:52 1999 GDP per capita crashed over 60% by
1:56 2020 Inflation hit 1.7 million% in 2018
2:00 And people starved while oil wealth
2:05 vanished That's not
2:07 sustainability That's collapse She says
2:10 capitalism seeks profit at any human and
2:12 environmental cost That's another myth
2:15 Greed exists in every system Socialism
2:18 just redirects it to power instead of
2:19 money Capitalists profit by meeting
2:22 demands not destroying lives The US went
2:25 from 94% extreme poverty in 1800 to 1%
2:29 today because markets drove innovation
2:32 electricity medicine sanitation not
2:34 because of government edicts Socialist
2:37 regimes the Soviet Union's ROC shrank
2:41 90% from forced irrigation schemes
2:44 man-made ecological disaster China's
2:46 great leap forward killed 30 to 45
2:49 million and left scarred landscapes
2:52 Socialism's the one with the body count
2:54 human and environmental AOC implies
2:56 wealth accumulation comes at others
2:58 expense Nonsense It's not a zero sum
3:01 game Hong Kong had no resources in 1945
3:04 By 1997 its per capita GDP topped
3:08 $36,000 higher than Britain's through
3:10 free markets Singapore's went from $500
3:14 in 1965 to $82,000 Today wealth grew It
3:18 didn't steal from anyone Socialism's
3:21 alternative Cuba's average wage is $30 a
3:24 month after 60 years of fairness The
3:26 Soviet Union's GDP per capita peaked at
3:28 $7,000 while the US hit $20,000 by the
3:31 1980s Socialism doesn't spread wealth it
3:35 spreads misery and this unredeemable
3:38 line She's enjoying capitalism's fruits
3:41 her iPhone her Netflix her congressional
3:44 salary while decrying it Hypocrisy aside
3:47 socialism is the one with no redemption
3:49 Every try Venezuela Cuba the USSR ends
3:55 in rationing stagnation and tyranny Why
3:58 it ignores reality But here's what she
4:01 misses and I've said this for decades
4:02 First capitalism isn't about
4:04 concentrating wealth It creates it and
4:06 society benefits The top 1% pay 40% of
4:09 US taxes $600 billion a year funding
4:13 roads schools hospitals Second
4:15 government can't eliminate poverty It
4:16 redistributes it stifling the innovation
4:19 that actually solves it The US spent $22
4:22 trillion on welfare since the 60s
4:25 Poverty still here Markets cut global
4:27 poverty in half in 25 years Third
4:30 socialism fails everywhere not from bad
4:32 execution but because it denies scarcity
4:34 in human nature People work for
4:36 incentives not
4:37 slogans Mrs Kaziocortez can clutch her
4:40 pearls all she wants But history's not a
4:43 suggestion It's a warning Capitalism's
4:45 lifted more people than her ideology
4:47 ever will she'd see that if she traded
4:49 her rhetoric for a ledger and some
4:51 numbers you know just as there's all of
4:53 this fear-mongering that government is
4:55 going to take over every corporation and
4:58 government is going to take over every
4:59 business or every form of production um
5:03 we should be scared right now because
5:04 corporations have taken over our
5:06 government
5:07 And in my
5:10 opinion we should be wary of any entity
5:13 in which both of those things are
5:15 combined whether it's through one way or
5:17 the other Um and that's why the emphasis
5:21 in democratic socialism is on democracy
5:25 And it's not about you know it it's it's
5:30 just as much a transformation about
5:33 bringing democracy to the workplace so
5:36 that we have a say and that we don't
5:38 check all of our rights at the door
5:40 every time we cross the threshold into
5:43 our workplace Because at the end of the
5:44 day as workers and as people as society
5:47 we're the ones creating wealth not a
5:49 corporate CEO It's not a CEO that's make
5:52 that's actually creating $4 billion a
5:55 year It is the millions of workers in
5:57 this country that's creating billions of
6:00 dollars of economic productivity a year
6:02 and our system should reflect that Mrs
6:05 Aassiocortez keeps piling on the
6:07 rhetoric but still light on facts and
6:09 heavy on fantasy This idea of democratic
6:12 socialism and workplace democracy sounds
6:14 noble Who doesn't like democracy but
6:17 it's a recipe for economic disaster
6:19 wrapped in a feel-good slogan Let's cut
6:22 through the noise and deal with reality
6:24 because that's what matters She says
6:27 workers alone create wealth and CEOs are
6:30 just parasites skimming the profits
6:32 That's a fairy tale Wealth isn't
6:34 conjured up by labor in a vacuum It's
6:36 the product of capital risk and vision
6:38 working together Take a company like
6:40 Ford Workers built the cars Sure But
6:43 Henry Ford invented the assembly line
6:45 invested his savings and took the gamble
6:48 when 90% of new businesses fail US
6:50 Census data shows over half collapse
6:52 within 5 years CEOs aren't sitting in
6:56 ivory towers twirling mustaches They're
6:59 making decisions where to invest what to
7:01 produce how to compete Jeff Bezos didn't
7:04 steal Amazon's $4 billion in annual
7:06 profit He built a system that employs
7:08 1.5 million people and delivers value
7:11 worldwide Workers matter but without
7:14 capital and leadership there's no
7:16 factory no jobs no wealth Socialism's
7:18 tried her experiment Soviet collective
7:20 farms run by workers produced famine 5
7:24 to 10 million dead in 1921 to22 because
7:27 no one's accountable when everyone's in
7:29 charge Uh Venezuela's state-run oil
7:32 industry once a global powerhouse now
7:34 pumps less than Iraq under sanctions
7:37 Outputs down 75% since 1999 Labor
7:40 without direction is chaos not
7:43 productivity Then there's this workplace
7:45 democracy notion that businesses should
7:47 be run like town halls Businesses aren't
7:50 governments They're voluntary
7:51 associations You don't vote on how to
7:53 build a car You do it efficiently or
7:55 lose to someone who does Imagine voting
7:57 on every decision at
8:00 Apple The markets would still be flip
8:03 phones Markets reward merit and results
8:05 not feelings Yugoslavia tried worker
8:08 managed firms in the 20th century
8:10 Productivity tanked inflation soared and
8:13 the system crumbled by the '9s Why no
8:16 one risks their own skin in a collective
8:19 Incentives vanish Capitalism's voluntary
8:22 exchange workers trade labor for wages
8:25 owners risk capital for profit beats
8:28 utopian experiments every time
8:32 Now her claim that corporations have
8:34 taken over government that's half right
8:36 but she's got the wrong villain Free
8:38 markets don't cause cronyism Government
8:40 overreach does When politicians control
8:43 $4 trillion in annual spending 20% of US
8:46 GDP corporations lobby for favors That's
8:50 not capitalism it's corporatism A
8:52 distortion of markets by the state Look
8:54 at the 2008 bailouts Banks got handouts
8:57 because government picked winners not
8:59 because markets demanded it Hong Kong
9:01 thrived with a 15% tax rate and minimal
9:04 meddling Per capita GDP hit 49,000 by
9:08 2020 Singapore is at 82,000 Contrast
9:11 that with socialist meddling Venezuela's
9:13 government owns everything Yet 96% of
9:16 its people live in poverty today Perov
9:19 data The threat isn't corporations It's
9:22 bureaucrats with too much power Let me
9:25 wrap this up with three truths she keeps
9:26 dodging First wealth comes from capital
9:28 risk-taking and labor combined not labor
9:30 alone Workers need tools and direction
9:32 CEOs provide them Second the real danger
9:35 uh isn't corporate power It's government
9:37 intervention that rigs the game creating
9:39 cronyism Socialism loves to exploit
9:41 Third businesses run on voluntary
9:43 exchange not workplace democracy Force
9:46 that and you kill efficiency and
9:48 innovation Look at history East
9:51 Germany's Turbons versus West Germany's
9:53 BMWs
9:55 One side voted with its feet over the
9:58 wall Mr Okazo Cortez wants a system that
10:01 reflects her vision Reality doesn't bend
10:04 divisions it breaks them She'd see that
10:06 if she looked at the numbers instead of
10:07 the mirror
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