Capitalism vs Democratic Socialism, with Sam Arnold | Yaron Debates
Channel: Yaron Brook
Date: 2019-05-19

In this debate, Yaron Brook and Sam Arnold take sides as they face off on the value of capitalism versus democratic socialism. Yaron Brook advocates for Capitalism, Sam Arnold for Democratic Socialism as they argue which one is the moral and practical system.

Hosted by Government and Law, Lafayette College on March 12, 2019 as part of the Mills Series.  The Mill Series (themillseries.org) is an independent public charity dedicated to promoting viewpoint diversity at Lafayette College.  For more about the Mills Series, see https://www.youtube.com/channel/UCvcpRsrB4fp1LqVVrJiQ6gQ

00:00 Intro
01:25 Sam Arnold’s intro 
10:55 Yaron Brook’s intro
21:37 Sam: Formal freedom, effective freedom, property rights
25:39 Yaron: There is no social pie, private property is freedom
30:38 Q for Sam: Flaws in your premise, need for hierarchy 
32:36 Q for Sam: Value of the Rich
35:26 Yaron’s response to dominance theory, the real profit motive
39:55 Q for Yaron: Wells Fargo and protecting rights v. monitoring citizens
44:52 Q for Yaron: Welfare policy and safety nets in capitalism http://aynrandlexicon.com/lexicon/welfare
48:51 Sam’s response: poverty, socialist solutions
50:14 Q for Yaron: Where does the pie come from? Individuals
54:05 Sam’s response to the pie problem, democratic socialism
55:02 Q for Sam Would socialism be a step backwards?
57:10 Yaron’s response to state shares and collectivism
1:00:07 Q for Yaron: Invisible hand, fiat system, government correction https://www.amazon.com/Pursuit-Wealth-Moral-Case-Finance/dp/0996010114
1:04:09 Q for Sam: Critique of capitalism, What is the common good?
1:06:48 Yaron’s response: Individualism not classism http://aynrandlexicon.com/lexicon/individualism
1:08:43 Yaron talks on Scandinavian Socialism and government spending
1:14:11 Q: Viability of each model, Sam: state ownership and democracy
1:15:43 Yaron’s response: mixed economy drifts, pride of production
1:19:20 Value creation, the trader principle and the financial industry
1:23:16 OSHA - The Occupational Safety and Health Administration
1:24:26 Sam: Who is responsible for production, justice in society
1:27:35 Q for Yaron: Role of property, and slavery, and prison complex
1:30:53 Q for Sam: Define Democratic Socialism, what are you advocating for
1:3545 Yaron: socialism can exist in capitalism, c cannot exist in s http://aynrandlexicon.com/lexicon/socialism
1:37:39 Q for Yaron: Destabilization and access, A: privatize
1:43:46 Economic power and political power http://aynrandlexicon.com/lexicon/economic+power
1:46:49 Sam: power of exit, what happens if you privatize the Earth?
1:48:43 Yaron: Metaphysically impossible, and arbitrary example
1:50:54 Sam: possible vs. not going to happen Libertarian is ugly 
1:52:42 Yaron: We are selfish, Right to life is the central code of ethics
1:55:14 Q: Sam on the Green New Deal
1:56:13 Q: Yaron on the Green New Deal https://newideal.aynrand.org/the-green-new-deal-a-war-against-energy-part-1/
1:59:12 Sam response: Google “Life After Warming: The Uninhabitable Earth”
1:59:43 Q: In capitalism: Productivity and competition are good for workers
2:02:43 Sam’s response: automation
2:03:53 Yaron: automation: robots allow us to become rich
2:07:23 Wealth inequality and dysfunction solution? Randomize leadership
2:10:40 Yaron’s response: Free politics
2:12:31 Q for Sam: forced labor and unions
2:16:04 Yaron: Not opposed to unions, not pro-unions
2:18:40 Outro

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