[APPLAUSE]
♪♪
CHARLES: WELCOME BACK TO OUR
SPECIAL EDITION OF
"MAKING MONEY."
IT CONTINUES NOW, A TOWN HALL ON
CAPITALISM AND SOCIALISM OF BACK
WITH US REPRESENTING SOCIALISM,
BIANCA CUNNINGHAM, RICHARD
WOLFF, OUR CHAMPION OF
CAPITALISM, HERMAN CAIN.
JOINING US NOW, YOU KNOW HER,
HOST OF HER OWN SHOW 9:00 P.M.
ON FOX BUSINESS.
SHE APPEARS REGULARLY ON
"OUTNUMBERED" ON FOX NEWS
NETWORK.
KENDI WAS BORN IN INDIAN, RAISED
IN OREGON.
SHE IS A LIBERTARIAN.
SHE IS A BIG PROPONENT OF
CAPITALISM.
WELCOME TO THE SHOW.
>> THANK YOU VERY MUCH.
[APPLAUSE]
CHARLES: YOU LIVED CAPITALISM.
YOU PREACHED CAPITALISM.
SO ARE YOU READY?
>> ABSOLUTELY CHARLES, LET'S DO
THIS.
CHARLES: LET'S GET OUR NEXT
QUESTION.
NICHOLAS?
>> HI, I'M A COLLEGE STUDENT
HERE IN NEW YORK CITY ON
BUSINESS.
ON TODAY'S COLLEGE CAMPUSES IT
IS HARD TO BRING REPUBLICAN
IDEAS AS CAPITALISM WITHOUT
BEING SHOUTED DOWN OR CALLED A
SLEW OF SLURS.
HOW DO WE INSURE STUDENTS IN
COLLEGES ACROSS THE COUNTRY
ESPECIALLY CITIES AS LIBERAL AS
NEW YORK, LEARN THE REAL
DIFFERENCE BETWEEN CAPITALISM
AND SOCIALISM AND THE BENEFIT
CAPITALISM BROUGHT TO AMERICA
THROUGH THE FIRST 243 YEARS OF
EXISTENCE?
CHARLES: LET'S ASK THE
PROFESSOR?
[APPLAUSE]
>> I SPENT A LIFETIME PREACHING
TO DO EXACTLY THAT.
TO HAVE THE UNIVERSITY BE A
PLACE WHERE IDEAS OF CAPITALISM
CAN BE DEFENDED BY PEOPLE WHO
BELIEVE IN IT, AND IDEAS OF
SOCIALISM CAN BE DEFENDED AND
PUT FORWARD BY BELIEVE THAT
BELIEVE IN IT.
IN 90% OF THE COLLEGES IN UNITED
STATES, ECONOMICS THE FIELD I
KNOW, THERE ARE LOADS OF PEOPLE
WHO LOVE AND CELEBRATE
CAPITALISM, NO PEOPLE WHO LOVE
SOCIALISM.
GIVE MYSELF AS AN EXAMPLE.
BECAUSE HERMAN GAVE HIMSELF AS
EXAMPLE.
I WAS BORN IN OHIO.
MY PARENTS HAD ABSOLUTELY
NOTHING.
I FOR LONGER TO I ENDED UP GOING
TO HARVARD AS UNDERGRADUATE, TO
STANFORD IN THE MIDDLE AND I
FINISHED AT YALE.
I'M A POSTER BOY FOR ELITE
EDUCATION IN THIS COUNTRY,
RIGHT?
AT NO TIME IN MY EDUCATION, 10
YEARS IN THE IVY LEAGUE, DID
ANYONE STAND IN FRONT OF ME AND
GIVE AN ARGUMENT FOR WHY
SOCIALISM WAS ADVANTAGEOUS OR
GOOD.
I HEARD COUNTLESS DEBATES AMONG
PEOPLE WHO LOVED CAPITALISM.
DISAGREED ABOUT THIS OR THAT,
BUT THE PRESUMPTION WAS THIS IS
THE BEST SYSTEM SINCE SLICED
BREAD.
THIS IS ALL YOU NEED TO KNOW.
AND THE ALTERNATIVE IS NOTHING
YOU HAVE TO WORRY ABOUT.
CHARLES: RIGHT.
>> GIVEN THAT, OF COURSE IT IS
HARD FOR SOCIALISM TO GET A
HEARING.
BUT YOUR SITUATION IS THE VERY,
VERY SCARCEST REALITY.
THE ONE I DESCRIBED IS
UNFORTUNATELY THE BAD LEGACY OF
THE COLD WAR.
CHARLES: WITH ALL DUE RESPECT,
RICHARD, I WANT TO BRING KENNEDY
IN, THIS IS THE NOT FIRST TIME I
HEARD IT.
I HEARD IT FROM THOUSANDS AND
THOUSANDS YOUNG ADULTS IN
COLLEGES ACROSS THE COUNTRY.
>> WE HAVE TO DIVORCE OURSELVES
FROM THE IDEA OF A TWO-PARTY
SYSTEM.
I'M SURE YOU WOULD AGREE.
YOU RAIL AGAINST THE DEMOCRAT
PARTY AND ESTABLISHMENT AND IT
IS THIS EXTREME BIFURCATION BUT
THEY REALLY HAVE SO MUCH IN
COMMON THAT THEY DO SUCH A GREAT
DISSERVICE TO SO MANY PEOPLE.
SO INSTEAD OF THINKING IN TERMS
OF REPUBLICAN AND DEMOCRAT, I
LIKE TO THINK IN TERMS OF
FREEDOM.
AND THAT IS MUCH MORE
LIBERTARIAN.
THAT IS MUCH MORE OF A
LIBERTARIAN, LIBERTY
ENCOMPASSING PHILOSOPHY.
AND WHEN YOU TALK ABOUT FREEDOM
YOU TEND TO BE MUCH MORE
INCLUSIVE.
BECAUSE YOU'RE TALKING TO
INDIVIDUALS.
YOU'RE NOT JUST TRYING INTO TWO
SEPARATE GROUPS WE INSTANTLY
HATE YOU.
I THINK IT IS GOOD THAT YOU'RE
GETTING A DEGREE IN BUSINESS.
BECAUSE IT MEANS THAT YOU WILL
HAVE PRACTICAL APPLICATION OF
THAT DEGREE.
THERE ARE A LOT OF DEGREES, MY
DEGREE IN PHILOSOPHY DOESN'T
NECESSARILY TRANSLATE TO THE
WORK PLACE.
IT HELPED ME ORGANIZE MY
THOUGHTS.
I PROBABLY COULD HAVE DONE THAT
IN MY OWN.
I LIKED BEING IN A UNIVERSITY
SETTING.
FOR THE VAST MAJORITY OF PEOPLE
LANGUISHING IN COLLEGE WHICH ARE
PROPAGANDA FACTORIES RUN BY
LEFTISTS WHO WANT TO
INDOCTRINATE, WHAT I WOULD SAY
TO THOSE PEOPLE, SAVE YOUR
MONEY.
DON'T NECESSARILY GO TO COLLEGE
UNTIL YOU KNOW WHAT YOU WANT TO
STUDY.
I DIDN'T GO TO COLLEGE UNTIL I
WAS 28 YEARS OLD.
I HAD TWO CAREERS IN
BROADCASTING, RADIO AND
TELEVISION.
IT WASN'T UNTIL I KNEW WHAT I
WANTED TO DO AND POURED MYSELF
INTO IT COMPLETELY THAT I WENT
AND GOT A SCHOLARSHIP TO UCLA,
GO BRUINS.
CHARLES: LET'S LEAVE IT THERE.
UP NEXT, WE HAVE MOHAMMED.
WHAT IS YOUR QUESTION?
>> SO, CAN I STAND?
ALL RIGHT.
I JUST WANT TO ASK THE
CANDIDATES AS THEIR THOUGHTS ON
DESIRABILITY AS WELL AS
FEASIBILITY OF TRANSITIONING
AMERICA TO A SOCIALIST FRAMEWORK
BY REPLACING THE CURRENT MODEL
OF STRUCTURE SOME DESCRIBE AS
VERTICAL HIERARCHY INTO WORKER
OWNED COOPERATIVES?
>> BIANCA?
>> THAT IS A REALLY GOOD
QUESTION.
TO ME IN MY MIND, I FEEL LIKE,
THIS COUNTRY HAS PRIORITIZED
CAPITALISM OVER DEMOCRACY.
SO I THINK WE CAN'T HAVE THESE
CONVERSATIONS WITHOUT BRINGING
DEMOCRACY BACK INTO THE
CONVERSATION.
PEOPLE ARE NOT RESPONSIVE TO
CANDIDATES OR TO POLITICAL
PARTIES.
THEY'RE RESPONSIVE TO ISSUES.
THEY HAVE REAL ISSUES THAT THEY
WANT TO SEE ADDRESSED.
I FEEL LIKE, YOU KNOW, THERE ARE
A LOT OF EXAMPLES OF, YOU KNOW,
SOCIALISM GONE BAD AROUND, WHAT
I'M MORE CONCERNED ABOUT,
AMERICA WE'RE GREAT AT A LOT OF
THINGS.
I THINK WE CAN DO SOCIALISM IN
THIS COUNTRY BETTER THAN OTHER
COUNTRIES.
CHARLES: HOW DO WE RESTRUCTURE?
LIKE CHANGING A TIRE ON MOVING
TRUCK.
>> I HAVE A QUESTION FOR YOU.
I WANT YOU TO ANSWER THIS
HONESTLY, WHEN WILL YOU ADMIT
THINGS HAVE GOTTEN BETTER?
THAT IS A PROBLEM.
SO MUCH HYPERBOLE, THE WORST
TIME AND THERE ARE CHILDREN
STARVING IN THE STREETS.
THIS IS ACTUALLY THE BEST TIME
TO BE ALIVE.
PEOPLE ARE LIVING LONGER.
AND IN FACT CAPITALISM HAS
LIFTED BILLIONS OF PEOPLE OUT OF
EXTREME POVERTY.
DO YOU WANT PEOPLE IN EXTREME
POVERTY?
I DON'T.
I WANT WOMEN, I WANT CHILDREN
AND YOUNG PEOPLE TO HAVE IDEAS
THAT THEY INSERT INTO THE
MARKETPLACE.
CHARLES: BIANCA?
>> WHEN WILL YOU ADMIT THINGS
HAVE ACTUALLY GOTTEN BETTER?
YOU TALK ABOUT SYSTEMS AND YOU
TALK ABOUT STRATA AND YOU ABUSE
THIS --
CHARLES: IT IS LUXURY TO HAVE
THIS CONVERSATION.
IN MANY PARTS OF THE WORLD YOU
COULDN'T?
>> WE HAVE THE HIGHEST WAGE GAP
TODAY THAN AFTER THE GREAT
DEPRESSION, THAN AFTER THE
RECESSION IN 2018.
SO WHILE YOU ARE SAYING THAT
CAPITALISM IS WORKING MARKETS
ARE STRONG, UNEMPLOYMENT IS LOW,
WE'RE SAYING IT IS NOT
TRANSLATING TO PEOPLE'S --
[APPLAUSE]
>> BUT WHEN WILL YOU ADMIT, SO
SOCIALIST LIKE TO USE THE TERM
LIVING WAGE.
WHEN WILL YOU ADMIT WHAT THAT
IS?
WHY WOULD YOU STOP AT $15 AN
HOUR?
WHY NOT GO TO $25 AN HOUR?
$150 HOUR.
ABSOLUTELY RIGHT.
START THERE.
TO BIG.
CHARLES: I WANT TO I BUT GUYS
IN.
WE'RE TIGHT ON TIME.
HERMAN YOU WORKED AT THE FEDERAL
RESERVE.
YOU RAN A MAJOR CORPORATION.
HOW WOULD WE ACTUALLY
DECONSTRUCT THIS WHOLE SYSTEM
THAT WE HAVE AND FLATTEN IT OUT
SO THAT EVERYONE HAS A GREATER
VOICE IS IT HOW DOES THAT EVEN
WORK?
>> ANSWER YOU CAN'T.
ALLOW ME TO GIVE YOU TWO
STATISTICS.
AS IMPERFECT AS CAPITALISM IS,
THE UNITED STATES OF AMERICA
REPRESENT NEARLY 25% OF THE
WORLD'S GDP COMPARED TO
EVERYBODY ELSE.
AND WE HAVE LESS THAN 5% OF THE
WORLD'S POPULATION.
KENNEDY IS RIGHT.
MORE PEOPLE HAVE BEEN LIFTED UP
OUT OF POVERTY BECAUSE OF
CAPITALISM.
NOT SOCIALISM.
SECONDLY, SOCIALISM CREEPS INTO
A SOCIETY.
THAT IS WHY A LOT OF PEOPLE
THINK THIS SOUNDS GOOD.
THAT YOUNG MAN'S QUESTION, WAS
NEVER ANSWERED.
WHEN YOU IS ARE PEOPLE GOING TO
START TELLING PEOPLE WHAT IT IS
GOING TO COST?
NOBODY HAS ANSWERED THAT.
THAT IS BECAUSE THE COSTS ARE
ABSOLUTELY UNBELIEVABLE AND
UNREALISTIC.
CHARLES: RICHARD.
[APPLAUSE]
>> I WOULD LIKE TO ANSWER THE
QUESTION ABOUT HOW COULD YOU GET
A SITUATION WHERE THESE IDEAS
BECOME ACCEPTABLE?
TO TEACH A LITTLE BIT --
CHARLES: IMPLEMENT.
DECONSTRUCT CAPITALISM TO BECOME
A SOCIALIST SOCIETY.
>> HIS QUESTION IMPLIED HOW ARE
YOU PEOPLE WILLING TO GO IN THAT
DIRECTION?
>> BY FORCE.
>> NO.
LET ME GIVE YOU AN EXAMPLE.
>> THAT IS THE ONLY WAY.
THAT IS IT.
[APPLAUSE]
>> THAT HISTORICAL NONSENSE LIKE
SOME OF THE OTHER THINGS YOU
SAID.
>> THAT IS REALITY.
>> LONGEVITY OF THE UNITED
STATES HAS GONE DOWN, NOT UP YOU
CAN'T IGNORE IT YOU CAN'T SAY
WHAT YOU SAY.
IT IS NOT CORRECT.
>> IMPLYING GROUP THINK THAT IS
USING FORCE.
INDIVIDUALS DO NOT HAVE A
CHOICE.
THAT IS ONLY WAY.
THAT IT IS FORCE.
>> YOU DON'T WANT ME TO SPEAK?
IS THAT THE POINT.
>> I HEAR THE SAME THING OVER
AND OVER AGAIN BUT THAT IS THE
ANSWER.
FORCE.
>> YOU DON'T WANT TO SPEAK
BECAUSE YOU HEARD IT ALREADY.
THANK YOU THAT IS KIND OF YOU.
>> THANK YOU.
>> LET ME EXPLAIN WHY SOCIALISM
ISN'T THE PROBLEM HERE.
THAT IS LITTLE BIT AFTER
AMERICAN HISTORY.
IN 1916, FOR THE FIRST TIME THE
SOCIALIST PARTY RAN A CANDIDATE
FOR PRESIDENT.
GOT 600,000 VOTES, 3% OF THE
VOTE.
FOUR YEARS LATER THE SOCIALIST
PARTY RAN ANOTHER CANDIDATE FOR
PRESIDENT.
EUGENE DECKS, GOT 4% OF THE
VOTE.
900 MILLION.
FOUR YEARS LATER SOCIALIST RAN
ANOTHER CANDIDATE, WISCONSIN,
1924.
HE RAN FOR PRESIDENT.
GOT 5 MILLION VOTES.
1% OF THE TOTAL VOTE.
AT POINT THE CAPITAL ITS OF THIS
COUNTRY GOT VERY FRIGHTENED FOR
GOOD REASON, CAME DOWN ON
SOCIALISM WITH THE SAME KIND OF
HYSTERICAL DENUNCIATION THAT
YOU'RE LISTENING TO HERE.
WE HAVE TO COME OUT OF 100 YEARS
OF HIBERNATION.
EVERY OTHER COUNTRY IN THE WORLD
HAS SOCIALIST PARTIES THAT ARE
PART OF THE CONVERSATION.
WE'RE THE COUNTRY THAT IS BEHIND
IN THAT AREA.
WE NEED TO CATCH UP.
BUT WE DON'T HAVE TO IMAGINE IT
AS NEW.
IT IS IN OUR OWN HISTORY.
WE'VE BEEN ABLE TO DO IT.
WE'VE BEEN THERE.
CHARLES: GREAT POINT, RICHARD.
>> WORLD WAR II.
YES.
CHARLES: FDR SIMPLY MINT AD LOT
OF POLICIES THAT THE SOCIALISTS
