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8 Comments

1. I can not agree with the basic premises of the speaker. some of the greatest concentrations of wealth in the world are from totalitarian governments/dictatorships. the same goes for pollution . Look at Russia where the pseudo private oligarchs were handed the great resources of the former USSR and are multi-billionaires, same goes for PRC (Communist China) and both are among the biggest polluters. India has taken the former Rajah’s concentration of wealth during and after the British colonization and just transferred it to a socialist style government that suppresses the vast majority of a class based society. Looking at the U.S.A comparison of the definition of the lower economic strata of the society and comparing them to those of other nations, they have a better quality of life in all facets even with having a large number of high asset citizens at the higher levels. Opportunity to rise from the lowest socioeconomic level in the highest in the U.S.A is greater than any other form of economic structure in the world. As proof, look at the sources of wealth of the top level citizens and you will find the majority of earned wealth was made by risk taking and not inheritance. Socialism has crept into the U.S.A. in many ways and is a constant danger to a successful model. Socialism’s cost is less freedom to individuals at a high price.

2. Is this going back to the darker ages? totally disagree with Barsamian. Socialism has it’s low points at it’s best but it has served the past with it’s dictators at the helm – we now know how it all worked. Please do not tell me that it has served well without corruption – this is just the face and let’s not go into the nitty details which might shock those who will try and argue the point. Capitalism has it’s failures no doubt but it’s alot better than socialism and for what it stands for. Hope we are not going into the dictatorial issues with regards to socialism and or capitalism. There really is some rubbish here with regards to Global warming and Climate Change and the likes so let’s not get into this as there is a big division with it’s integrity. Sorry, after reading through this article, I found the contents very questionable – I am disappointed with it’s contents.

3. We can say the same for Armenia.Today the entire wealth in Armenia is in the hand of a few and the rest of the population is starving and leaving the country.There are monopolies and impunity by the rich,and the government has become dictatorial.

4. I agree with Barsamian that we need to resurrect Socialism. My thoughts on this is that the Government should control the big industries, for instants the Oil Industry, the Natural Gas, the Electric Lights, & other big industries, so that the cost of living for the average family does not increase. Property taxes, food, Gas prices, etc. must be better controlled. Capitalism must still exist under a Socialist Enterprise although much must be discussed & brought forward for people to live a normal life.

5. Interesting but neither impartial nor fully informative. The lecture is biased because it does not state all the facts with complete accuracy. Some points are valid,but many are false.
   The income gap, inequality is not a problem solely in the U.S. It is worldwide across most countries whether they are capitalist or socialist. Indeed in some countries that had leftist or socialist governments, the income gap widened significantly due to various factors.(corruption, oligarchs,cryonism,bad policies).
   Admittedly the ideals of socialism are worthy causes. Unfortunately in today’s world , with the economic realities and forces, they are extremely difficult to attain. There is no
   perfect system. Utopia does not exist.
   According to most recent data/statistics by financial institutions, the world has:
   – 1826 billionaires.
   -The U.S. has 536-about 29%- which is a reasonable percentage, if taken into account that the U.S. has the largest economy.
   -Socialist/communist countries with billionaires are:
   China – 430
   Hong Kong 55 ( integral part of Chinese economy)
   Russia -93
   The difference between the two, is that in a capitalist system,
   anyone can become successful and become wealthy, while in a socialist regime, the rulers decide who will become wealthy and how they will divide the pot.

   • China, Hong Kong, and Russia are not socialist/communist countries in the true sense of the word. While ruled by communist party, China has adopted the capitalist model. So did Russia and Hong Kong, plus a multi-party system. And when presenting statistics about the number of billionaires in the world, you forgot to mention that the money-bags who own more than 50 percent of the world’s wealth—Rothschilds, Rockefellers, Warburgs, Baruchs, Gates, Soros, etc.—are associated with the capitalist countries, and not the “socialist/communist” countries, as you call them.

6. Dear John,
   So what are the countries that are socialist that we should aspire to?
   What socialist regime should be our model?
   If the biggest and most powerful regimes ruled by socialts or communists have adopted the capitalist model, does it not that say that capitalism in their view is better?
   Vart

   • Vart,

     I wasn’t advocating for a socialist model in the US. I just wanted to show that it is capitalism—not socialism–that’s accumulated most of the wealth of the world to the detriment of the rest of the world population.

     I also think that it is incorrect to say that “in a capitalist system anyone can become successful and become wealthy”. It depends on what your definition of “success” is. If you meant professional success, in a socialist system, too, anyone can become successful. As for becoming wealthy, well, masses of workers in a capitalist system may risk being thrown to the streets and become poor, unemployed, and unable to pay off their mortgages.

     What are the countries that are socialist that we should aspire to? It is for the American people to decide, really, but the Nordic model (also called Nordic social democracy) might be worth considering. I’d certainly wish this model to be adopted by Armenia at some point.

     Lastly, Russia did not voluntarily adopt the capitalist model because she thought capitalism was better. Russia had no other choice because her socialist model was demised by the concentrated destructive effort of Western capitalism and those sinister globalist forces that act behind the scene. China rerailed its economy on a capitalist model, but has preserved the Communist ideology, the one-party system, and much of the socialist infrastructure (education, healthcare, etc.).

     I agree with you that there exists no perfect economic system, just as there exists no perfect form of government.

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