WEBVTT

00:00:00.000 --> 00:00:02.320
Ever wonder why so many intellectuals

00:00:02.320 --> 00:00:06.720
and academics are often left leaning and drawn to socialism?

00:00:06.960 --> 00:00:09.520
Well, it has to do with a hero complex.

00:00:09.760 --> 00:00:13.040
There's an economist by the name of Joseph Schumpeter,

00:00:13.040 --> 00:00:16.285
and he explained this really well in one of his books, Capitalism,

00:00:16.365 --> 00:00:17.965
Socialism, and Democracy.

00:00:18.045 --> 00:00:27.325
He explained that highly developed industrialized capitalist societies create enough abundance to produce a large quantity of these intellectual class.

00:00:27.725 --> 00:00:29.485
And these people are like journalists,

00:00:29.640 --> 00:00:30.920
college professors,

00:00:30.920 --> 00:00:33.720
lawyers, political serious academics,

00:00:34.040 --> 00:00:37.000
and they're often very resentful of capitalism.

00:00:37.160 --> 00:00:42.200
And this resentment usually stands from the fact that capitalism mostly rewards entrepreneurs,

00:00:42.200 --> 00:00:43.000
inventors,

00:00:43.000 --> 00:00:48.205
merchants, and businessmen, people who actually produce real goods and services for society.

00:00:48.765 --> 00:00:53.805
It doesn't do much to rewards these intellectuals because most of them don't produce anything.

00:00:54.125 --> 00:00:56.365
Um, their products are usually ideas,

00:00:56.365 --> 00:00:59.485
critiques, and theories about society and how it should function.

00:01:00.410 --> 00:01:07.050
And because they don't actually solve any real problems, their easiest path to influence for them is by criticizing

00:01:07.050 --> 00:01:08.090
capitalism.

00:01:08.170 --> 00:01:11.850
Think of people like Michel Foucault, Noam Chomsky,

00:01:11.850 --> 00:01:13.290
Herbert Macuso,

00:01:13.530 --> 00:01:25.265
and most notably Karl Marx. And because they believe that they're actually smarter than most people, they often feel that capitalism doesn't properly rewards them for their intellect. But under socialism,

00:01:25.265 --> 00:01:27.825
it will be different because they'll be more valuable.

00:01:28.545 --> 00:01:31.740
Um, and since socialism needs a lot of bureaucrats, experts,

00:01:31.740 --> 00:01:33.900
economic planners, ideologues,

00:01:33.900 --> 00:01:35.580
and guiding intellectuals.

00:01:35.660 --> 00:01:39.980
So it gives them the starring role that they don't have in a market economy.

00:01:40.300 --> 00:01:45.020
And on top of that, they also don't suffer the consequences of their own failed ideologies.

00:01:45.645 --> 00:01:56.285
You see, unlike an engineer who's built a bad product, you can see it in real time if that product works or not. And if it doesn't, then you have to go back and try to fix it. But for these intellectuals,

00:01:56.285 --> 00:01:58.525
their product is their ideas.

00:01:58.765 --> 00:02:00.510
So they can be catastrophically

00:02:00.510 --> 00:02:02.990
wrong and then still get to keep their careers.

00:02:03.150 --> 00:02:15.605
And if their ideologies and predictions fail, they can always write a new essay explaining why it wasn't real socialism or that somebody implemented it wrong. So because they have no skin in the game, there's no limit to what they can come up with.
