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Stossel: In defense of economic liberty

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Reason TV makes the case for Economic Liberty, showing its vast superiority over socialistic slavery.

In his latest video produced for Reason TV John Stossel interviews Yaron Brook from the Ayn Rand Institute making the case that Economic Liberty [Or the false Marxist pejorative Capitalism] has created more wealth and brought more people out of poverty than any other system.

Stossel: In Defense of Capitalism

ReasonTV
Published on Jun 18, 2019
People acting in their own self-interest created modern prosperity, says Ayn Rand Institute’s Yaron Brook.

Progressives claim capitalism is “immoral” because some people become rich while others stay poor. Yaron Brook, chairman of the Ayn Rand Institute, says the opposite is true.

“We have basically made about $2 a day for 100,000 years,” Brook told John Stossel. “In other wordswe could eat what we farmed and that was it.”

“And then something amazing happened.”

About 250 years ago, a few countries tried capitalism. For the first time, people were allowed to profit from private property.

“Two-hundred and fifty years ago we suddenly discovered the value of individual freedom,” says Brook. “We suddenly discovered the value of leaving individuals free to think, to innovate, to produce without asking for permission, without getting the state to sign off.”

As a result, humans “doubled our life expectancy,” says Brook. “We have dramatically increased the quality of our life and we are wealthier than anybody could have imagined.”

Brook, who’s an Objectivist, says that “doing for others is fine—but only if that’s what you want.”

“The key is that somebody else’s need is not a moral claim against your life,” he adds. “Your life is yours.”

[Our emphasis]

Please note that valuing Individual freedom is a vestige of philosophical individualism of Conservatives and True Liberals.

The unfair comparison: Collectivism in theory with Economic Liberty in practical reality.

In most cases, the Socialist-Left plays the game of comparing their theory of a perfect society based on their 2,400 year old ideas with the practical everyday problems of a functional but admittedly imperfect system. This is akin to polling that compares an unnamed – and thus ideal – candidate with a real candidate.

They do this so that they can speak of wonders an ‘Ideal state’ that works in sheer perfection and compare it to every problem and imperfection of everyday reality of Economic Liberty with every human society. Never mind comparing the record of accomplishment of Economic Liberty with the 400 years of failure that is the collectivist ideologies – they will repeat the tired old mantra that ‘Socialism has never really been tried’.

We are currently forming the American Conservative Movement. If you are interested in learning more, we will be sending out information in a few weeks.

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