What Went Wrong With Capitalism? | Jill on Money

On this episode of Jill on Money, Jill sits down with Ruchir Sharma to discuss his new book, 'What Went Wrong With Capitalism?' They delve into the history of the government's role in the economy, why so many young people today are disillusioned with capitalism, and much more!
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[@FuzzyChicken29]

Great episode! Very balanced and thought out discussion from Ruchir Sharma. It pairs well with Scott Galloway's "How the US Is Destroying Young People’s Future"

[@michaelskyros8803]

Spot on, great guest

[@projectedenable]

You know what else didnt exist in the early 1900s? Practically anything, some manufactured textiles and a few machines were all that seperated those poor souls from the middle ages.

[@sburson05]

Great guest, great conversation - thank you Jill!

[@cliffpeebles9705]

Great show Jill! The episode brings to mind two sayings: 1) We have the best government money can buy, and 2) The Golden Rule; He with the gold makes the rules. Very interesting discussion on the role of government.

[@midwestcannabis]

Compound and Friends ❤️ Cliff! 🫶🫶🫶

[@anderson6379]

Great episode, good debate. My life needs this book

[@robveltre8897]

We tried trickle down economics, and it failed. But we’ve never tried trickle-up economics to any great degree. The time has come.

[@briantep458]

Jill 🔥🔥🔥

[@anothername2730]

A full length episode!

[@Nedumgottil]

Woo full episodes are back

[@oppenheim2]

In bad times take on debt. In good times, like now, pay down debt.

[@jaredlopez2926]

In accounting terms, companies invest in capex when interest rates are low and they build up their cash position when interest rates are high. With a 5% hurdle rate who wouldn’t take the safe option?

[@user-ky4hc1bx7s]

Or...don't ever take on debt.

[@Allastrology]

loved this discussion!!

[@moosejoose4]

jill, the subtext to this interview is brilliant

[@nlabanok]

Everyone afraid of government involvement better brace yourselves because they're about to HAVE TO get involved in almost every form of insurance (but especially home insurance) given the recent wave of policy cancellations and denials, premium increases, and entire markets being abandoned.

[@Mr.Eeeeeeeee]

Need to raise social security tax over $168,600. It will probably never happen but that should solve the problem.

[@mariov5035]

Very interesting conversation here!

[@joealtamuro]

Valid points were made for the reason why the economy has stayed strong w higher interest rates But I must agree with Josh Brown that the interest people are making on their money is causing a stimulus of its own!! Thereby resulting in increased spending by wealthier consumers.

[@cliffpeebles9705]

I'm with you and Josh, and it shows why the individual and our government needs to be mindful of the amount of debt assumed.

[@Miggy2j]

This was great, thanks

[@ZuduMane9]

Dope episode, really enjoyed this topic

[@LeahLewis-ny9iu]

In uncertain times, how can one outperform with the S&P 500? my money goal of $3m seems far-fetched and just saving is not an option, do I seek a license advisor to help grow my funds, or wait for a favorable economy? I have barely 5 years to retirement.

[@intelligentfool]

Curious what others will say but if saving and investing is not enough it sounds to me like you need to increase earnings. You probably don't want to take on a lot of risk that close to retirement, so earning more is probably your best bet.

[@JimMcNutty]

I love the Indian and South African accent when it says the word government. Not sure why it sounds way better

[@dentonyoder4652]

Good content as usual. Don't really agree with the theses of the author however.

[@JimMcNutty]

There isn’t really agreeing. Young people are completely disillusioned with capitalism and many think socialism is the answer. They may not understand what it really means but it is a failure of our system to have so many people feel this way. They should grow up and once they start seeing their paycheck cut in half it tends to change people’s mind

[@MidwestRdub]

How about you highlight the candidates that ARE fighting for change. Give us names. Give us hope.

[@mmm-cake]

👏🏼👏🏼👏🏼

[@rickmc73]

Failing at capitalism as the individual level over a lifetime is far far more snatching defeat from the jaws of victory than all the other reasons combined. But the latter is easier than the former to accept and bad actors use that in all forms of manipulations.

[@moontakeen]

Scarcity does not work....in India...I seen it

[@projectedenable]

I'm confused.

[@airbourne2]

Safety net used to be family and church.

[@projectedenable]

Did they used to hand out penicillin in church?

[@midwestcannabis]

❤Jill and The Compound✌️✌️✌️🥳🥳🥳❤❤❤❤

[@anothername2730]

🙌🙌🙌🙌

[@midwestcannabis]

@@anothername2730 yea Buddy✌️✌️🥳

[@cliffpeebles9705]

MWC - Most Worthy Compounder. Happy Father's day Dad!

[@midwestcannabis]

@@cliffpeebles9705 Lol, I'm not worthy. Happy Fathers day to you too! 🫶🫶🫶

[@Rin-lt2fk]

😃 แล้วแต่ ! คุณทำอะไรไว้กับใคร สิ่งนั้นจะให้คุณเป็นทวีคุณ จำไว้

[@mcs_30]

Taylor Rogers threw his mitt into the garbage one year. It happens

[@TooColdHands]

Jill the Activist

[@ssl-xh7te]

Because capitalism also does not work. So let's try something else😊 It is time for a change.

[@edhcb9359]

Anyone who likes the idea of socialism has never actually lived under socialism.

[@jluther1755]

Socialism is For The Corpratocracy not The Plebes. Bank bailouts corporate bailouts. All the corporations paying slave wages so the Government pays for food stamps and Medicare. That's not benevolence twords the workers it's Friggin socialism for the corporation. Now tell me again about people not understanding socialism. Besides countries Americans call capitalist Democracies like Isreali have universal Govt healthcare and guaranteed Housing 🤩😳🎭🐑🐑

[@jluther1755]

Apparently factual responses to conjecture is Censored here.. socialism is For Corporations in America Obviously you Approve of Bank bailouts? corporate welfare money is Rampant. Tax money pays for the research to develop drugs then big pharma charges the tax payer double and Triple what they charge the rest of the world. Capitalism isn't broken it's Working exactly how the oligarchy wants it to work 🤩🎭🐑. Censor that.

[@WanderingExistence]

I'm convinced most people don't know what socialism is and would just say "it's government doing things"... Which is completely false. Most "socialism" people think of is just government acting like a big capitalist.

[@edhcb9359]

@@WanderingExistence People think it’s government taking care of its people, but it’s really just government taking control of its people.

[@WanderingExistence]

@@edhcb9359 You missed the point entirely. Just because feudalism was dominated by government doesn't mean feudal governments were socialist. With that example it should easy to see why that's the worst way to define socialism. Government being in control does not mean that it's socialism. _Socialism is a system of economic democracy._ There are various ideologies that want to create economic democracy with large governments (Leninism), and there are some ideologies that want to do economic democracy with smaller governments (democratic socialism), and there are some ideologies that want to do economic democracy with no government at all (anarchism). You may not think they matter in the real world but when it comes to definitions, it gets really ironic when you realize most anarchists are socialists and yet you guys want to talk about how socialism is defined as "big government". That's not the definition of socialism. The major through line of all socialistic ideologies is economic democracy.

[@kevinl20082008]

Nothing went wrong with Capitalism. The only problem is that we let people who have no idea and never lived in that system run amok with a notion of romanticism about socialism and communism.

[@jluther1755]

Your actually uninformed enough in economics you believe you have seen capitalism 🤙

[@WanderingExistence]

Governments supporting big capitalism is socialism now? Lololol

[@jluther1755]

corporate welfare Queens Absofucnloootly

[@jluther1755]

​​@@WanderingExistenceso you think government funding big Corporations is Capitalism 😂. That's the opposite of capitalism. Capitalism means essentially No ONE is Going to bail you out. You Are Free to make or Lose all the money you can. Hello

[@WanderingExistence]

@@jluther1755 It's quite funny that you think capitalist will stay in the private sphere- there is no such thing a pure capitalism. Capitalists are motivated by profit, government is one of the highest ROIs. Corporatocracy is corrupt capitalism, but it's still capitalism. There is no PURE system, SillyWilly.

[@NSG1323]

🫡

[@WanderingExistence]

Wage labor is renting yourself via "self ownership". Employment is literally renting another human being as if they're property. The employer-employee relationship is a very insidious dynamic. Employment is a rental contract, like if you rented capital (say, a chainsaw from Home Depot), you pay rent for the "time preference" (basically the cost of time) for a piece of property. Capitalism is based on a principle of self ownership, which sounds empowering, until you realize that most people don't own capital goods other than themselves, and must rent out the authority over themselves as pieces of "human capital". This is a process of dehumanization where human beings are valued for their return on investment as capital goods. This is why, at the very least, capitalism needs unions and safety nets (or abolishment), or else the system won't value people for their human value. Importantly we must also think about our sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class to value. We must figure out a way to change this economic system if we wish to value each other.

[@cliffpeebles9705]

Labor, in the sense of being a regular full time or part time employee is NOT a contract. The employee has complete power to walk away from the job without notice and without employer recourse.

[@WanderingExistence]

@@cliffpeebles9705 Still a contract to do work 🤦 One person agrees to follow orders for money, and the other person agrees to pay them when they follow orders. Whether it's written or verbal... It's a contract.

[@BrianAlbert-hh3pi]

The Asian bling or display of wealth seems to be the most elaborate of all races. It's mind-blowing sometimes the extent they get to.

[@WhitneyRoss-dj4rf]

Absolutely! I mean, have you seen some of those mega yachts and private islands they own? It's like they're living in a whole different world.

[@jamesburns679]

Huh? Have you ever heard of the term "iced out"? That's as American as it gets

[@vcash1112]

Greed ! is the answer for title of this video. Soon the youth is going to embrace the idea of socialism because corporations are greedy buying single family homes as an example.😢Too much government involvement and high taxes…

[@owls077]

Looks like Ruchir Sharma is tired of promoting his book. Stop slouching. Sit straight.

[@mariov5035]

Lmao what are you, his aunt?

[@WanderingExistence]

Oh, quit with your posturing

[@JimMcNutty]

I literally laughed out loud at this statement. Please tell me it’s a joke

[@apothe6]

Midwit boomers love telling people their silly opinions