Episode #441 from 23:00
Capitalism
Okay, so how do we fix it? So it's really interesting and nice that you have pro-capitalism and anti-corporatism. So how do we create a system where the free market can rule. Where capitalism can rule, we can have these vibrant flourishing of all these companies competing against each other and creating awesome stuff. So in the book, I call it democratic capitalism as opposed to Bernie's democratic socialism. We can get into that distinction in a minute. But so as Adam Smith said, and anyone who studies capitalism knows, you need the government to protect the market as well as the people. Why do we have cops? Because if we don't have cops, somebody's going to go, "Well, I like Lex's equipment. Why don't I just go into his house and take it?" So you need the cops to protect you, and that's the government. So people say, "Oh, I hate big government." Do you? It depends, right? If your house is getting robbed, all of a sudden you like the government. But you also need cops on Wall Street because if you allow insider trading, the powerful are going to rob you blind and the little guy's going to get screwed.
People
Why this moment matters
Okay, so how do we fix it? So it's really interesting and nice that you have pro-capitalism and anti-corporatism. So how do we create a system where the free market can rule. Where capitalism can rule, we can have these vibrant flourishing of all these companies competing against each other and creating awesome stuff. So in the book, I call it democratic capitalism as opposed to Bernie's democratic socialism. We can get into that distinction in a minute. But so as Adam Smith said, and anyone who studies capitalism knows, you need the government to protect the market as well as the people. Why do we have cops? Because if we don't have cops, somebody's going to go, "Well, I like Lex's equipment. Why don't I just go into his house and take it?" So you need the cops to protect you, and that's the government. So people say, "Oh, I hate big government." Do you? It depends, right? If your house is getting robbed, all of a sudden you like the government. But you also need cops on Wall Street because if you allow insider trading, the powerful are going to rob you blind and the little guy's going to get screwed.
People and topics
People