Debating capitalism with a leftist who heard me on The David Pakman Show - The Dan Norton Show #14

A debate on capitalism with a leftist who heard me on The David Pakman Show (the largest show I’ve ever been on, with nearly two million subscribers on YouTube). 0:00 Intro, background, and Steve’s opening thoughts 12:50 Charity/philanthropy under capitalism; absolute vs. relative poverty; responsibility 26:54 Minimum wage and poverty 29:29 Government programs (e.g., Hoover Dam and highways) and the broken window fallacy 35:52 Life-saving drugs and “price gouging,” innovation and intellectual property 46:49 Equality and the profit motive Steve’s series of objections to capitalism 58:15 Externalities 1:01:37 Perverse incentives, e.g., private prisons 1:03:25 Free markets and laws; bribery 1:04:43 “Meritocracy,” inherited wealth 1:08:18 “Winners and losers” Dan’s replies to objections 1:12:26 Externalities 1:15:55 Perverse incentives, e.g., private prisons 1:18:04 Free markets and laws; bribery 1:20:40 “Meritocracy,” inherited wealth 1:25:32 Arbitrary vs. principled approaches 1:27:05 (Ir)rationality 1:29:53 Arbitrariness, bribery, and incentives (Steve) 1:36:43 Arbitrariness, bribery, and incentives (Dan) 1:41:11 Eminent domain, property rights, and original acquisition of property 1:47:21 Discrimination and free market forces; redlining 1:58:41 Walmart and the broken window fallacy 2:06:09 Courts, bribery, and revolution 2:14:14 “Golden Walmart,” inherited wealth, force vs. reason 2:21:19 Immigration, mixed economy (in)stability, firecracker example (Steve) 2:23:57 Immigration, mixed economy (in)stability, firecracker example (mostly Dan) 2:34:42 Why not have the government protect people from all “harm”? Wheelchair ramps. 2:40:04 Firecracker example (continued), evolving law, and contracts 2:43:22 Outro https://www.patreon.com/DanNorton #debate #capitalism #charity #philanthropy #poverty #responsibility #minimumwage #government #brokenwindowfallacy #drugs #pricegouging #innovation #ip #intellectualproperty #equality #profit #profitmotive #externalities #perverseincentives #privateprisons #freemarkets #laws #regulations #bribery #cronyism #meritocracy #inheritedwealth #generationalwealth #arbitrary #principled #linedrawing #rationality #irrationality #incentives #eminentdomain #propertyrights #originalacquisition #discrimination #redlining #walmart #courts #revolution #force #reason #immigration #mixedeconomy #stability #instability #wheelchairramps #law #contracts