As the Rich Get Richer, the Poor Get Richer

The rich are getting richer, and the poor are… also getting richer. What’s driving this wealth creation process? In this video, Daniel Hannan explains why it is …


36 Replies to “As the Rich Get Richer, the Poor Get Richer”

  1. .. perhaps I’m naive..trying to understand economics .. is it free trade Ur promoting.. just heard Anand Giridharadas talk , seems Capitalist Multinational Corporations & Silicon Valley Tech Companies & very rich infiltrate governments & society in a way that’s covertly fascist IMO not a simple subject.. lots of implications

  2. So…. In every other system, you move up by sucking up to powerful people. In capitalism, you move up by sucking everybody off, or at least, as many as possible.

  3. If the rich get richer then that doesn't mean that the poor get richer.

    If there is more money for everyone than it will probably result in inflation, meaning that
    if all of our money becomes less valuable.

    For example, if we our capital rises with 1% but the prizes rise with 2%, then sure we'd have more
    money but we're able to do less with it. So no, the poor don't have to get richer if the rich get richer.

    This means that the argument relies on a hidden premise: Inflation isn't fast enough to keep up with the extra capital of the "poor".
    And that means that the conclusion doesn't follow therefore it's a generic fallacy. And NO the examples he showed don't make up for it
    because when you have examples and no explaination on why they prove your claim, it's cherrypicking.

    3:27, And capitalism comes with a downside, sure the coorporations get to make money, and the free market allows them to.
    There is also a service to the customers because they provide the money for the coorporations/businesses.

    All of that is great except the concequences for the workers. Someone's gotta do the "dirty" work.

    This means that there will always be employees with bad working conditions because the employers
    aren't completely screwed when the employees all quit because they won't, THEY NEED that job.
    But when you do something against your customers, then they can stop buying cause they don't need your product.

    Communism aims to fix this problem but it sacrifices too much in the process and it doesn't even solve the problem.
    So yeah capitalism is better but stop pretending that it is perfect.

  4. Over all in the world yes.In America no.the dollar is worth less and the fed keeps printing like crazy.every year the poor are earning less with weaker purchase power.Wages do not match the weaker dollar.

  5. "We all live better than Louis 14th" Tell that to a minimum wage worker in the U.S who strugles every day to feed his family and him/herself. And how do you dare to bring up such nonesensical and absurd examples. Don't you see that misinformation and the manufacturing of "alternative" facts in order to promote neo-liberal propaganda (or every ideology in that respect) is the worst you can do to people searching for information in such times of social conflict and inequality.

  6. Poorer citizens have very little to no disposable income. People who make more than $400,000 are part of the one percent. I know that $400,000 is still a lot, but the richest of the rich are thousands upon thousands of times richer and they don’t exactly need an extra 900 million dollars to spend. This is common sense

  7. I work ten hours a day spend two hours to get the work ( if I am lucky can find a seat on bus ) can only sleep less than I work but thank you capitalism at least I can choose fresshier watermelon at grocery store just like billioners do 🙂

  8. Yes rich are getting richer and poor are getting richer because the banks are more money than they have and lending it to everyone so that they can use up all the resources of the earth faster

  9. I´m all for capitalism but what you´re describing on a global level, does not necessary apply on a domestic level. The workers at Amazon are not partaking in Jeff Bezos wealth. Every Dollar he doesn´t pay his employees is one that he can add to his own pile. So how does his wealth benefit the poor? Even if an increase in supply decreases the price, I don´t see the causality between his increased wealth and their added buying power. Amazons success as a company benefits them, not Bezos' billions. PS: the fact that Amazon is not paying taxes is despicable. PPS: Prager University is not a real University.

  10. If capitalism doesn't work why… and do your research
    Why has it never lasted.. mmmmm 150 years+ if capitalism works why has it lasted 200+ years
    Just my opinion

  11. I am an immigrant with no high school degree. I was living in a very restricted frugal manner and obsessively saving up while all my coworker were lavishing with dining/vacations/electronics. My knowledge comes from hogging at Barnes & Nobles during the 90s and that was my poor man MBA, Politic science and finance education plus all the Op-Ed from Economist/WSJ. Fast forward today, I am now owning a couple very successful businesses and living my American dream to the fullest. Thank you for American's free market and capitalism despite with all it's flaws. It was not easy but if you are hard driven, dedicated and willing to sacrifice, you will definitely landed in somewhere really decent even you didn't meet your original goal.

  12. Wake up guys, yes its better than communism but its basically slavery with human rights. My friend who studies economy and also a capitalist (by "coincidence" his family owns a good earning factory) told me that capitalism is like cutting down the tree you are resting under, making it into a proper restint place and selling you your own tree with "improvision". He describes communism as making that tree public and you are not allowed to talk back if garden's owner (its owned by state of course) wants you not to rest but work witout any guaranteed returns. My view is no, capitalism does not feed hungry people and banks are nothing but family breakers but you don't have to pray to your god for surviving in your communist country. Know it, use it but don't lick it.

  13. A sophism. Utterly debunked over and over.
    Rich people speculate with money rather than giving employment.
    If middle class gets poor, consumption gets reduced and as result employments dissappear.

  14. Capitalism is loosing ground in the last years. As also communism is defunct. Why? Because we live in a post materialistic world, the need for human work is decreasing with an extreme speed. What will come after? I don't know, but I hope it is not elitism or fascism or anarchy.

  15. Mr. Daniel Hannan, who said you this "stupid" sentence: Rich people are getting richer and poor are getting richer faster? This is not true, because if you will calculate average income and costs, all these will be grow up and costs are higher (due to inflation). The correct sentence is: Rich people are getting richer more fastly and poor people slowly getting broke. And my goverment tell me, that i should save my money to retirement, but where should i get this money, if my salary is low? And this is the problem of all people in countries in Europe, because only corporation and banks are rich!

  16. This is not true video, yes you can have better stuff, if you will have a money. My question is, how can i buy better stuff, if my income is over 11 000 Kč and my rent is 8000 Kč and I must pay food, medicine etc.

  17. Capitalism is definetly the means of managing a localised system, but once you open the way for it to manage everything, it becomes what it is: an extension of nature, with no concept of time and context. It's definelty better to invest your own money into something, because you are then also invested in it, but this paves the way for personal greed over the expense of pretty much every other thing you are not invested in. Not to mentioned the fact that capitalism does offer what people need by efficient means, but when you can engineer what those people think they need (Public Relations) and start "Inflating" the value of trivial goods just so they can boost whatever social image they perceive and desire, this becomes in my opinion a suicidal form of managing a finite planet.
    Marxism's fatal flaw is that no person is like Karl Marx, let alone 7.2 billion people and capitalism is blind outside it's immediate context and goals (context that is defined to justify the economical benefits of said investment). In a world in which we are so invested globally, we just can not manage everything as a big, whole picture; human condition is just not designed for this. I remember a quote from a documentary I saw once: "We are running 21st century software on hardware that is over 10 000 years old"; and this can not be truer to me.
    Although I don't belive in A.I. as a distinct conscience than the one present in the only family of life we know, I only hope that neural networking technology can reach some sort of critical mass in data, so that we have a clear ideea of what impact we have on the world past the lifetime of one investor. Atleast then we would have an ideea of when it is too much… because we can certainly do a lot more change to this planet that it can recover in the timeframe we are used to and from my personal experience with people… people are just not eager to take direct responsability or even aknowledge when they are wrong or have done something wrong.

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