 Welcome back to clear cut in the u.s. There seems to be growing support for socialism The unexpected victory of a democratic socialist Alexandria Ocasio Cortez is a prime example Her defeat of longtime congressman Joe Crowley in New York's primary election caused both widespread shock and Fascination with a movement for other women also Democratic socialists one races in the Pennsylvania primary recently and a recent survey by the American Culture and Faith Institute found that 37% of people 18 and older That's nearly four out of every ten adults say that they prefer socialism to capitalism Let's get more and all of this with your own Brooke who joins me now He is the chairman of the board at the iron rand Institute a non-profit think tank that promotes Objectivism amongst other things you're one nice to have you with us nice to be here Why are we seeing this rise in socialism? It is truly bewildering. I mean Socialism has failed Every way it's been tried and when I mean fail not just people get poor people starve to death People are murdered people are killed socialism has the blood of over a hundred million people you look at venice way Let's just Venezuela is a great example right now. So it's not even history It's right now in their face and of course the socialist always say Well, it's never been tried properly next time. We'll do it right. It's it's the leaders were corrupt Stalin was a bad guy, but no System in and of itself is evil. It is corrupting and corrupt and yet That is the big mystery people seem to be attracted to it in spite of that Well, they don't see it as evil most of them see it as as benevolent and a way of helping Their fellow man. Do you think that when we talk about these statistics? That forward of ten adults in the US believe in socialism that they actually understand what the term socialism is and Volves no nobody I mean very few under people understand people call Denmark and Sweden socialist Which is a joke. I mean Karl Marx would be flipping in his great Sweden and Denmark are slightly a Different form of mixed economy than we are look the whole world today except for North Korea and a few other places The whole world is a mixture of capitalist elements and socialist elements the United States today We have our vast welfare system. We have huge entitlement. We're not pure capitalism Denmark and Sweden have a slightly different variation of how much capitalism they have and how much socialism They're successful to the extent that they're successful because of the capitalist elements Socialism is what drags them down just like the US economy as well as it seems to be doing right now is being dragged down Constantly by the size of government regulations and the socialist elements within our own government as Margaret Thatcher would say the problem With socialism is eventually you run out of other people's money But this does seem to be a platform that's that's gaining traction We we mentioned Alexandria Ocasio-Cortez here in in the local New York races But let's if you look at some of the things that she's campaigning on free college education $15 federal minimum wage expansion of Medicare universal jobs guarantee and Abolishing ice the country's immigration law enforcement agency Do you see others in the Democratic Party really embracing these kind of positions? Well these all the positions Bernie Sanders took and he was a very popular people And I think that much of the Democratic Party now is Shifting towards Bernie Sanders because he might have won if not for Hillary kind of jiggling You know the election so Allegedly, but Bernie Sanders was incredibly successful So I think the Democratic Party is shifting to the left shifting around these policies Now these are policies that basically legitimize massive redistribution of wealth They legitimize turning the United States into a much larger welfare system than what we have today I think until we Who believe in capitalism until we are willing to make the moral case for capitalism and what? Socialism is not socialism is not just that it doesn't work economically But it is wrong. It is evil in that it expects some people to pay for other people qualify that and and if you could quickly expand on the Moral case for capitalism all case for capitalism is the capitalism is a system of freedom It's a system that allows individuals to live their lives as they see fit It is the system that says you're responsible for in your own life for the upside and the downside if you want help When you're struggling you don't have a right to pull a gun and force people to help you Which is what the government does what you have a right to do is ask for help Yeah, and and people in the capitalism tend to be very benevolent and tell to help help their fellow man when You know something bad happens to them. That's no fault of their own, but look Until we accept personal responsibility And we accept the idea that the founders had that this country is based on that we each own our own life It's our life delivers. We see fit. We're not we don't belong to the collective. We don't belong to the state We don't belong to society Society doesn't get to tell us how to live what to do and how we should use our money We get to decide that for ourselves That's them all case for capitalism It's the idea of America of individual rights of the weight of every individual to live free and and yet there's a growing sense of entitlement Amongst millennials not to put the blame on them, but amongst millennials have this feeling that the world owes them Okay, why is that? How is the change? I mean, I remember I remember tea party Demonstrations where they would have a limit government and then the next sign over would be take your hands off of my Medicare You know so so the older generations likes their entitlements now the younger generations wants their own your own entitlements So this is a problem throughout American society and this is a problem once you institute institutionalized certain Socialist policies like Medicare and Medicaid like social security things that are very very popular and people love But essentially what is Medicaid Medicare socialized medicine for old people if socialized medicine is so good for old people Why doesn't everybody get it right? So I'm against socialized medicine and I think if Republicans were really against socialized medicine They'd have to be against Medicare So you have to be willing if you want to take the position of capitalist you have to be willing to challenge These sacred cows of the middle class and the older generation and not blame everything on the millennials I think once we institutionalize these entitlements once we have the mentality that we need to help X number of people. Well, why not help everybody? Why not free tuition? And now you're on it's interesting because You have some of the people that have benefited so much from capitalism like Elon Musk Richard Branson Mark Zuckerberg Calling for universal income and and one of the points that Elon Musk makes is that automation and artificial intelligence is Eroding capitalism that it's going to impact the economy you see that as an issue as well as the issue of giant corporations If you will snuffing the dream of smaller entrepreneurs if you look at the pharmaceutical industry for example or drugstores Mom-and-pop drugstores being swallowed by the likes of Walgreens and and CVS. How do we now tackle? What seems to be these problems emerging in the capitalist market? Well, I don't see any of those as real problems Automation is great. AI is fantastic. They increase productivity. They increase wealth. They increase our standard of living They'll make all our lives better. Do I know what the jobs are gonna look like in 20 years? No, but did anybody 20 years ago know what the jobs would be today? No, we've heard these horror stories about the end of work For about 200 years and it hasn't happened and I doubt that it's going to happen because human needs are infinite We always need more stuff We always want more and we're gonna have to produce that stuff and some of that stuff is gonna be produced by people Rather than machines and all the rest of it, you know again the same complaints about big businesses The same complaints about consolidation have always been around but I would say that the problem today in Capitalism is not is none of those the problem in capitalism today is regulations. It's it's still a distorted tax system It's ridiculous tariffs. It is You know limits on immigration. I mean we need workers in this country We've got a massive shortage of workers in this country They should be expanding legal immigration dramatically in America today not shrinking it so there are real problems All of those problems are caused By government interference, all right, we will have to have you back to love to break that point down further for us But appreciate it so much everyone broke. Thanks for being with us