Scott Galloway: ‘This Is Exactly What Capitalism Is Not Supposed To Be’ | Stephanie Ruhle | MSNBC

Scott Galloway: 'This Is Exactly What Capitalism Is Not Supposed To Be' | Stephanie Ruhle | MSNBC 1

 

Now that President Trump has thrown a last minute wrench into the bipartisan COVID relief bill, where does it leave families struggling just to survive? NYU Marketing Professor, Pivot podcast co-host and author of "Post Corona: From Crisis to Opportunity," Scott Galloway joins Stephanie Ruhle to discuss. Aired on 12/23/2020.
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Scott Galloway: 'This Is Exactly What Capitalism Is Not Supposed To Be' | Stephanie Ruhle | MSNBC

58 Comments on "Scott Galloway: ‘This Is Exactly What Capitalism Is Not Supposed To Be’ | Stephanie Ruhle | MSNBC"

  1. Ronan Brodrick | December 24, 2020 at 9:58 AM | Reply

    Why don’t Americans have affordable healthcare, education and housing like they did in 1950s ?

    • Americans have never had affordable healthcare. Every other first world country has had universal healthcare for at least the last 30 years.

      Canada has had healthcare since 1968. The UK has had way before then.

    • Pontiac Soviro | December 24, 2020 at 4:46 PM | Reply

      In the 1950’s,the wealthiest people were taxed upwards of 90%.That’s why.

    • Reagan.
      We didn’t lose affordability in the 50’s, we lost it in the early 80’s when Reagan lowered the highest tax bracket from 90% and implemented his trickle down theory. When the rich get richer prices increase, first on luxury goods but sooner or later everything else follows.

    • ….or like most European countries. New e-book: ‘Right Wingers Duped’ sheds light on some of Trump’s most egregious failings.

    • Back in the 1950s healthcare wasn’t overpriced and people could pay medical bills without going bankrupt. When Canada implemented universal Medicare in the 1960s, the medical charges were not allowed to escalate like the uncontrolled charges in the United States.

  2. Absolute insanity of self serving people all of the places. We either have empathetic social programs or we have suffering. Can’t have both ways.

  3. The biggest threat to capitalism isn’t socialism, it’s capitalists.

    • @MysticiaDev Creative Reread what I said. I don’t like big insurance making profit off the poor and middle class.

    • MysticiaDev Creative | December 24, 2020 at 9:16 PM | Reply

      @Peter Miller Understandable, but right now it’s not big insurance companies in the ring. It’s Republican Fascist groups touting Trump like a dictator, openly lying about the Coronavirus to keep their states open and trying to shut down resources we desperately need right now like Medicaid and Food Stamps on Christmas Eve because these programs “cost too much money”, meanwhile millions are going hungry, being evicted or are dying. And it’s never Trump’s fault because Trump says it’s never Trump’s fault and somehow hundreds of millions of morons believe in this wreath of an argument.

    • MysticiaDev Creative | December 24, 2020 at 9:19 PM | Reply

      @Peter Miller It sounds like I’m making stuff up like it’s some twisted form of mad libs, but it’s all true. You don’t need The Texas Chainsaw Massacre or The Shining or even The Exorcist in order to traumatize yourself, all you need is to live in America in the year 2020 and you’re all set and done and all sanity will go down the drain real fast.

    • MysticiaDev Creative | December 24, 2020 at 9:26 PM | Reply

      @Peter Miller Trust me on this one, I’m not joking, I own The Texas Chainsaw Massacre, The Shining and The Exorcist on Blu-ray/DVD and I can tell you from experience, watching Sally run away from Leatherface while he’s chasing her around with a chainsaw made me laugh, watching Jack lose his mind in the Overlook Hotel and attempt to murder his wife and son with an axe made me almost fall asleep and watching Regan MacNeil become possessed by a literal demon made me yawn. Who needs horror movies when life in 2020 America is a LIVING NIGHTMARE?

    • MysticiaDev Creative | December 24, 2020 at 9:34 PM | Reply

      @Peter Miller Obviously, OBVIOUSLY, there is something EXTREMELY WRONG with America right now and we NEED DESPERATELY to fix it as SOON as we can.

  4. Asiwassaying Earlier | December 24, 2020 at 10:09 AM | Reply

    Ya, when personhood is removed from corporations. Personhood works kinda like the electoral college—-it can erase your vote.

  5. interesting how Socialism has to bail out Capitalism every 10 years.

    • @Lady M Know this Lady M, it going get even, worse. You are in “4th Turning”. Their going massive dramatic events coming your life time that will awaken you and me. History shows tremendously bad events will happen that will force us collectively to revaluate the way we run our government.

    • @Lady M Last generation had to deal with World War I, the Spanish Flu, the Great depression, and World War II.

    • @Lady M The previous generation in 1860 had to deal with Jefferson Davis and South succeeding from Union.

    • @Lady M Before that on July 4, 1776 America said it will no long bow to a Mad King. Each time Lady M, their was radical change and liberalism. But not before major heartbreak and suffering.

    • @Lady M Before 2025 all that will come to pass, and we experience major pain and suffering that will “Awaken” us, and make change our inner world, but not before.

  6. Fabricator Factory | December 24, 2020 at 10:13 AM | Reply

    Trump has moved storms with a black magic marker. Could write in 2000 over 600 with it. Lol.

  7. Right now they are toasting each other at marlago, murderers and thieves!eating our children and drinking our tears! Thanks Donnie! Enjoy yourselves

  8. Antony Bellingham | December 24, 2020 at 10:14 AM | Reply

    America’s government’s attitude is screw the average guy and enrich the rich.

    • And Donald J. Trump is screwing the average guy and enriching himself.

    • That’s capitalism. There aint no more.

    • Bringer of Truth | December 24, 2020 at 9:17 PM | Reply

      You have no one to blame but yourselves. By voting in corrupt politicians, you are enabling crony capitalism, in which unelected bureaucrats pick winners and losers in the market economy. This is why big-name stores and businesses are allowed to stay open during the pandemic, but Ma’ & Pa’ shops are forced to close. This is why huge international conglomerates like Google, Facebook, and Twitter receive huge federal subsidies and special protections (i.e. Section 230). This is why the current “Covid Relief” bill is using almost $1 trillion of taxpayer money we don’t have to fund special interests and bail out foreign countries abroad, while the average working American receives next to nothing.

      But of course, you stupid liberals keep voting for establishment elites that keep pushing for this same nonsense. Over and over again.

      Vote for smaller government. Vote for lower taxes. A small government with no money is less likely to screw you over!

    • @Bringer of Truth No, you far-right, anarcho-captialist, pro-Trump buffoons have no one to blame but yourselves because you think know about smaller governments and lower taxes, but you don’t know what you want. Not all politicians are corrupt. It is Trump enablers like yourself who want to manipulate weak persons like myself who don’t want far-right anarcho-capitalists nor left-wing socialist nuts like those who support Bernie Sanders. Neither of them because they are not part of the American mainstream and I represent the American mainstream. GET OVER IT!

    • @Bringer of Truth there was nothing about ma and pa shops not being able to stay open just not a lot of people are going to them during a pandemic and they had to follow covid guidelines. Seriously everything you said is straight right wing garbage.

  9. Capitalism is corruption on a grand scale. Unless the people stand up you will get nowhere

  10. Five Nights at Purple Kids | December 24, 2020 at 10:18 AM | Reply

    This is exactly why you don’t put businessman that is insane and self-serving into office.

  11. IDIOCRACY IS REAL | December 24, 2020 at 10:23 AM | Reply

    Walking all over the poor? Saying do-as-i-say-not-as-i-do?

  12. This is what Bernie Sanders has been saying for years. It’s FDR style social democracy that we need, not corporate socialism. It’s not the deficit that matters, it’s what they spend the money on that matters. Exactly what Scott was saying, if the money had gone to the average American citizens, the money would have flowed up through the economic system rather than directly into the already wealthy to prop up the stockmarket. Supply-side ‘Trickle-down’ economics (Reaganomics) has been a failure for 40 years. ‘Bubble-up/Rise-up/Bottom-up economics is the way forward for everyone, but the mega-wealthy are greedy and want it all. They’re like pigs at the trough. It’s disgusting!

    • @David Roddis The charge of socialism in the US comes from way before the modern period, even long before the rise of “communism” in Europe. It’s been used since the days of slavery to make the charge that the underclasses are trying to make claims on the rightfully earned property and privilege of the wealthy. This is something I learned fairly recently, and it surprised me, but in the “well I guess everything’s the same old story” kind of way.

      I’m not sure about modern monetary theory. It seems like a circle that doesn’t close and instead turns into a spiral, in that nobody who ever talks about it really answers the question of how to keep the continual rise of debt and wealth inequality from distorting everything eventually. I heard one person reject those concerns as mere issues of “distribution,” but it seems to me that issues of distribution are actually the main problem.

    • @David Roddis Where do you live since you do not live in the United States?

    • ‘We have deluded ourselves into believing the myth that capitalism grew and prospered out of the Protestant ethic of hard work and sacrifice. The fact is, capitalism was built on and the exploitation and suffering of black slaves and continues to thrive on the exploitation of the poor – both black and white.’ – Martin Luther King

    • @GlennC777 Thanks Glenn. Yeah, you’re absolutely right. Those taxes were invested in progress. I think the only way to fix ignorance is better education. The paradox is that we’re supposed to be living in the ‘Information Age’, but thanks to mainly social media algorithms, the ability to flood the zone with false and misleading information (propaganda) and too many people’s lack of interest to fact check their sources it’s become so easy for false narratives to gain traction. QAnon is a prime example. MSM is also to blame, FOX and now OAN, Newsmax etc. have amplified nonsense so that primitive human tribalism combined with the Dunning-Kruger Effect has now bred a generation of mindless nutjobs. It seems the smarter our phones have become, the dumber the user. It really is like something out of Orwell’s 1984. There’s far too many ‘Millennials’ and ‘Gen Z Zoomers’ wandering around like phone zombies. It’s the modern day version of Huxley’s ‘Soma’.

      As a 12 year old watching Neil and Buzz land on the Moon, my generation was inspired to believe in our dreams and that anything was possible if we put our minds to it. How far our expectations have fallen? Looking at the dire situation we find ourselves in now with the degradation of the environment, the economy, the social fabric of community, it’s becoming more difficult to believe we’re going to make it into the next century. We need a serious paradigm shift in our value system. It can’t just be about money, power and hedonism.

      Thomas Cole predicted this nearly 200 years ago in his ‘The Course of Empire’. The Course of Empire is a series of 5 paintings created by Thomas Cole in the years 1833–1836. It is notable in part for reflecting popular American sentiments of the times, when many saw pastoralism as the ideal phase of human civilization, fearing that empire would lead to gluttony and inevitable decay.
      https://en.wikipedia.org/wiki/The_Course_of_Empire_(paintings)
      https://thevelvetrocket.com/2010/04/21/paintings-of-the-day-the-course-of-empire-by-thomas-cole/

      A direct source of literary inspiration for The Course of Empire paintings is Byron’s Childe Harold’s Pilgrimage (1812–18). Cole quoted lines from Canto IV in his newspaper advertisements for the series: First freedom and then Glory – when that fails, Wealth, vice, corruption.

    • @Tim Countis Yep! Prof. Richard Wolff puts it this way. First it was the feudal system with the lords and the peasants, then it was the slavery system of masters and slaves, then we moved onto capitalism with employees and workers. It’s all much the same really, just a change of titles. The few wealthy ruling class exploiting the many disadvantaged. What people don’t seem to understand is that true socialism (NOT Stalin’s USSR, or Mao’s China – they were authoritarian/totalitarian systems of government) is more democratic than unfettered capitalism.

      A good example of how we should be running our companies is Ricardo Semler’s business philosophy. He wrote a book about it. Maverick! : The Success Story Behind the World’s Most Unusual Workplace is a business autobiography by Ricardo Semler published in 1993 by Warner Books. There are also many YouTube video’s of his speeches and interviews.

      Here’s the link to the PDF of the book: https://archive.org/stream/MaverickRicardoSemler/Maverick%20-%20Ricardo%20Semler_djvu.txt

      https://archive.org/details/MaverickRicardoSemler/page/n17/mode/2up

      https://images-na.ssl-images-amazon.com/images/I/51B0149eRHL._SX326_BO1,204,203,200_.jpg

  13. The stock market is over priced and a illusion

  14. We don’t want to bail out the airlines 5-6 times. Not when they pay their CEO’s bonuses in the millions

  15. The GOP is committed to corporate wealth. However, the lack of money in the country cannot be good for the economy. This is capitalism run amock.

  16. We need to protect people not corporations. It’s too late. 10 years to be exact. Corporations are people because of Citizens’ United and oligarchs like Mitt Romney.

  17. Why isn’t anyone mentioning that Trumps agricultural poliscy is Marxist socialism? He alone decided to reimburse farmers for the tariffs he enacted that affected them.

  18. The Americans government doesn’t care about the people or the country. Most politicians are there for the money and power.

    • YES INDEED ,THE MERCENARY 2020 MOST VIOLENT ACTION MOVIE NR ONE RENTAL AT REDBOX NOW FREE ON AMAZON PRIME

    • @KAY BROWN No, Donald J. Trump and Bernie Sanders are the ones.

    • @Marcos Juarez lol so your a corporation lover huh? Stop watching cable news please. It’s rotting your brain. Trump is corrupt, but he’s just as bad as all of washington.i don’t know where your hatred of Bernie comes from but I suspect that you watch lots of msnbc bs coverage. Lol you sound like the type of person who would write a check to the Lincoln Project. I feel sorry for you. You’re a foot solder for the wealthy.

    • @KAY BROWN Stop watching cable news? I will always watch cable news. I will always watch MSNBC and CNN and nobody can force me not to watch cable news. And besides, Bernie Sanders is not a Democrat. Bernie Sanders is not truly a FDR /JFK Democrat. Bernie Sanders is a left-wing socialist nut! You Bernie Sanders lover!

    • Reaganomics was the beginning of the plutocracy we’re in today

  19. Stephani is part of those who believe corporations should be bailed out.

  20. Dirtydonnie only knows how to ruin businesses like he did to his own,failure is his thing

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