Mar 28, 2019
The Boy Crisis: Why Our Boys Are Struggling and What We Can Do About It.
This ACU Show consists of the 4 following selections.
Dennis Prager talks to Warren Farrell, best-selling author, former member of NOW, and Chair of the Commission to Create a White House Council on Boys and Men. His new book, now out in paperback, is The Boy Crisis: Why Our Boys Are Struggling and What We Can Do About It.
Dennis talks to Andy Puzder, former CEO of Hardee’s and Carl’s Junior restaurants. He teaches the newest PragerU video “Socialism vs. Capitalism.” His newest book is “The Capitalist Comeback.”
Segment 3- From Prager University.
Capitalism vs. Socialism.
Watch this video at- https://youtu.be/Fdfru9NHGvE
Published on Mar 4, 2019
Decades after capitalism seemed to have triumphed over socialism, politicians are once again arguing about the merits and drawbacks of these opposing economic systems. Why are we still having this debate? Andy Puzder, former CEO of the parent company of Hardee's and Carl's Jr., explains the misconceptions that keep the debate alive.
Script: Capitalism versus socialism. We can sum up each economic system in one line: Capitalism is based on human greed. Socialism is based on human need. Right? No. Wrong. So wrong, it’s exactly backwards. And I’ll prove it to you. Been on Amazon lately? Each of the thousands of products Amazon offers represents the work of people who believe they have something you want or need. If they’re right, they prosper. If they’re wrong, they don’t. That’s how the free market works. It encourages people to improve their lives by satisfying the needs of others. No one starts a business making a thing or providing a service for themselves. They start a business to make things or provide services for others. I speak from personal experience. When I was the CEO of the company that owns Carl’s Jr. and Hardee’s restaurant chains, we spent millions of dollars every year trying to determine what customers wanted. If our customers didn’t like something, we changed it—and fast, because if we didn’t, our competitors would (pun intended) eat us for lunch. The consumer—that’s you—has the ultimate power. In effect, you vote with every dollar you spend. In a socialist economy, the government has the ultimate power. It decides what you get from a limited supply it decides should exist. Instead of millions of people making millions of decisions about what they want, a few people—government elites—decide what people should have and how much they should pay for it. Not surprisingly, they always get it wrong. Have you ever noticed that late-stage socialist failures always run out of essential items like toilet paper? Of course, this isn’t a problem for those who have the right connections with the right people. Those chosen few get whatever they want. But everyone else is out of luck. Venezuela, once the richest country in South America, is the most recent example of socialism driving a prosperous country into an economic ditch. Maybe you think it’s an unfair example. I’m not sure why, but okay. We’ll ignore the fact that leftist activists celebrated it as a great socialist success—right up until it wasn’t. But what about Western European countries? Don't they have socialist economies? People seem pretty happy there. Why can’t we have what they have—free health care, free college, stronger unions? Good question. And the answer may surprise you. There are no socialist countries in Western Europe. Most are just as capitalist as the United States. The only difference—and it’s a big one—is that they offer more government benefits than the U.S. does. We can argue about the costs of these benefits and the point at which they reduce individual initiative, thus doing more harm than good. Scandinavians have been debating those questions for years. But only a free-market capitalist economy can produce the wealth necessary to sustain all of the supposedly “free stuff” Europeans enjoy. To get the “free stuff,” after all, you have to create enough wealth to generate enough tax revenue to pay for everything the government gives away. Without capitalism, you’re Venezuela. For the complete script, visit https://www.prageru.com/video/capital...
Why Are People In Venezuela Starving (Hyperinflation Explained)?
Published on Dec 19, 2018
What is hyperinflation and what is causing Venezuelans to starve? Venezuela’s economic crisis has made headlines all over the world for the past few years. Hunger is widespread there. Unable to afford the small amount of food available in supermarkets, many Venezuelans have resorted to eating garbage to survive. Even zoo animals in Venezuela are starving according to a report by the Daily Mail, and people have been breaking into zoos to eat them. A recent survey found that the “food crisis has also created an education crisis, as more than 1 million children no longer attend school, mostly due to hunger and a lack of public services.” Moises Rendon and Mark L. Schneider of the Center for Strategic & International Studies provide a bleak assessment of Venezuela’s current situation, saying the country is suffering “an unprecedented man-made humanitarian crisis.” They say Venezuela resembles “a country at .. and notes some of its major social problems, including “extreme food and medicine shortages,” “rampant crimes in every city,” “constant electric blackouts,” and “looting and repression.” When you see and hear these stories, you can’t help but wonder what went wrong. How could a country that was once one of the most affluent countries in South America reach such a sorry state? One source of the misery in Venezuela is its out-of-control inflation, which we will examine in this episode of The Infographics Show, “Venezuelan Hyperinflation Explained.” Before we discuss Venezuelan hyperinflation, let’s begin with a discussion of what hyperinflation is in general. Simply put, hyperinflation is very high, rapid, and continuous inflation. In a hyperinflation situation, the prices of goods and services in an economy quickly rise to a level so high that they become difficult to afford for most people. While experts cannot agree what that exact level is, economist Michael K. Salemi states that hyperinflation is generally used to “describe episodes when the monthly inflation rate is greater than 50 percent.” He gives the example that “at a monthly rate of 50 percent, an item that cost $1 on January 1 would cost $130 on January 1 of the following year.”
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