I mean when the top 10% has more money than the rest, something will happen im not saying in our generation but the ones to come. Economic Inequality is rising, from what we learn in history we go through different phases, until theres some sort of rebelion, in this case it would be something like occupy wall street, but a billion times bigger. I also bellieve we are being brainwashed, almost programed like robots to think that its normal for someone to hold that much wealth, and we have a shot at getting there. What do you think? Capitalism is the more fair economic solution, or its going to explode later?
RT: A new Harvard University Poll suggests 51% of young Americans age 18-29 oppose Capitalism in it's current form... Do you think this poll is just politics, or do you agree that there is something wrong with the US economic system as it operates today?
Ron Paul: I think the problem is all in semantics. When they say they oppose today’s capitalism, I oppose today’s so-called capitalism. I don’t even like the word
“capitalism,” I like
“free markets.” But if you say
“free markets” and
“capitalism”together, we don’t have that. We have interventionism. We have a planned economy, we have a welfare state, we have inflationism, we have central economic planning by a central bank, we have a belief in deficit financing. It is so far removed from free-market capitalism that it’s foolish for people to label it free market and capitalize on this and say:
“We know it’s so bad. What we need is socialism.” That is a problem.
That is a problem in definitions and understanding of what kind of policies we have. I am a champion of free markets, but not of the current system that we have today. I am highly critical of it because it is designed to fail. It is designed to reward the rich; it is designed inevitably to destroy the middle class, and also to finance some of the worst things in government: all the deficits with the welfare state and for the warfare state. So yes, it’s failing. People should reject what we have, but they shouldn’t reject liberty and freedom and sound economic policies because that is not the problem. The problem is we don’t have enough free markets.
RT: In the same poll it is said that Senator Bernie Sanders, a self-described democratic socialist, has been the most popular candidate for America’s 18-29-year-olds. Despite the fact that he is now losing steam, as we’ve seen on the campaign trail, what does it really say to you about what’s driving this voting pattern?
Ron Paul: He’s tapped into something, something that I’ve talked about for years and tapped into when I was a candidate. And that is to describe the frustrations, the evil, and the nonsense of what we have. The problem with Bernie and myself is that he sees it quite differently. He thinks that it’s too much freedom and too much capitalism. And I see it as too much government; it’s too much of interventionist planned economy, which leans itself to fascism. But the young people might not understand the economics and what free markets are really all about, and they don’t understand central banking. And Bernie doesn’t understand that we have to get rid of central planning – from the Central Bank – if we want to help these people.
The current economic system is designed to fail, but so was socialism. What we need to go toward is property ownership, voluntary contracts and individual liberty in getting rid of the central bank.
http://www.ronpaullibertyreport.com/archives/i-oppose-todays-so-called-capitalism