Socialism is an illusion: Joshua Muravchik

Channel: Fox Business
Published: 3 hours ago

Description
'Heaven on Earth' author Joshua Muravchik on the mounting debate over capitalism versus socialism and plans to test universal basic income in Britain. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wa...



Transcript
Well, it is capitalism versus socialist week on fox business. I want to bring in the author of this book heaven on earth, the rise fall and afterlife of socialism. Joshua merav chick is the author of the book, which really goes right. After the socialists joshua, i'm told that you were an ardent socialist when you were a youngster. What turned you around? Well, i certainly was. It was really my my ...
work on behalf of socialism was really the most important thing in my life. Well, i turned around in stages. The first thing was realizing that as bad as i thought, capitalism was that communism was so much worse. It killed people by the tens of millionsand capitalism. Didn'T do that and then that forced me to look more deeply at the abstract idea of socialism itself. How did it create such a monstrosity, and i started seeing that that this was just an illusion that, and the illusion was largely that wealth would would just exist or come from nowhere, and that what we needed to think about was how to divvy up this wealth. That descended on us like manna from heaven and and i started to realize there was a much deeper question, which is: how do we get the wealth in the first place? Good question my way, i'm in a similar position.

I was a socialist when i was a youngman at the london school of economics. I i turned around fully when i arrived in hong kong, which was a free-market capitalist economy, extremely dynamic, with almost no taxation, and it absolutely worked, and that really turned me around. Then, of course i arrived in america and we were off to the races. How well i do want to talk to you about the britain, the brits they may test a universal basic income scheme. If the labour party a socialist party, they come to power, they give us ubi universal basic income. Your reaction to that please joshua well, two things. I saw that their plan was to test it in six cities and i just had thisimage of london emptying out. While everybody moves to those cities and but i'm serious plane, that's exactly the point about creating web versus distributing it. They seem to think that the money is just there, and all we need to do is find a nice plan for the government to give it to everyone and and are completely oblivious to the point that it's not just a matter of how you circulate the money. It'S a question of how you can have an economy that keeps generating a horrible image on. It is immoral, i mean it's just you work for money, don't you is it? You have to put some effort into it if it's just showered onyou, it's utterly meaningless and, frankly, i think it's wrong to take it from somebody who's working and give it to somebody who is either not working or doesn't want to work or earns a low income. I think i just think there's a moral component here.

What are you saying? Well, there is, but i would be careful because there are people in genuine need there, they're people who, for different reasons of age or health or young age, old age what-have-you, who can't support themselves, and i think the society owes it to them too yeah. This gives money to a pony, but this is money for everybody, money for the poor money for the rich money. Ifyou wanted to work, or you don't want to work. This is really a scheme, that's both a very dubious of moral basis and also of cockamamie economic basis. Thank you. I think you're absolutely right. I like that word joshua. Thank you very much for joining us.


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