Episode #450 from 36:16
Capitalism
I have to ask you about capitalism, the pros and cons. So you wrote a book, It's Okay To Be Angry About Capitalism. That is a thorough, rigorous criticism of I would say hypercapitalism, a certain kind of capitalism that you argue that we are existing in today in the United States. But a lot of people would attribute to capitalism all the amazing technological innovations over the past 70 plus years that have contributed to increase in quality of life in GDP, decrease in poverty, decrease in infant mortality, increase in expected life expectancy. So how do you see the tension, the pros of capitalism and the cons of capitalism? Some of my European friends, they say Bernie, in the United States, you're considered to be very radical. If you were here in France or Denmark or someplace, you'd be kind of mainstream left guy. Not all that radical. So this is what I think. I mean, I think the best that we could do right now, where we are right now, it's the great a society which does two things. It encourages innovation, but at the same time, it makes sure that all people in a wealthy nation have a decent standard of living. And some countries, if you look at Scandinavia, and this shocks people because we don't talk about this at all. So in Scandinavia it has been the case, Denmark, Finland, Norway for years that people have healthcare. That's not a big thing. You end up in the hospital. So what? They don't pay a bill.
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Why this moment matters
I have to ask you about capitalism, the pros and cons. So you wrote a book, It's Okay To Be Angry About Capitalism. That is a thorough, rigorous criticism of I would say hypercapitalism, a certain kind of capitalism that you argue that we are existing in today in the United States. But a lot of people would attribute to capitalism all the amazing technological innovations over the past 70 plus years that have contributed to increase in quality of life in GDP, decrease in poverty, decrease in infant mortality, increase in expected life expectancy. So how do you see the tension, the pros of capitalism and the cons of capitalism? Some of my European friends, they say Bernie, in the United States, you're considered to be very radical. If you were here in France or Denmark or someplace, you'd be kind of mainstream left guy. Not all that radical. So this is what I think. I mean, I think the best that we could do right now, where we are right now, it's the great a society which does two things. It encourages innovation, but at the same time, it makes sure that all people in a wealthy nation have a decent standard of living. And some countries, if you look at Scandinavia, and this shocks people because we don't talk about this at all. So in Scandinavia it has been the case, Denmark, Finland, Norway for years that people have healthcare. That's not a big thing. You end up in the hospital. So what? They don't pay a bill.
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