Why the Free Market Works | Arik Schneider | TEDxYouth@AlamitosBay

Arik Schneider is an accomplished high school speaker, Young American's for Freedom Chairman, and (hopefully) normal guy. Arik lives in Fullerton, California with his family.

[MrMattSax]

I realize he was young but this strikes me a a very simple and surface level argument for free market capitalism.

[monnomestbizarre]

Government intervention in business doesn't work well because political and economic leaders (politicians and businessmen) are small elite groups who don't know the consequences of their actions. If there was a society without these hierarchies, people would be more free and equal, not stolen of their power and money, and there would be less specialization, which means that the population, voting the laws, would also be independent entrepreneurs and would know the consequences of their regulating actions.

[danielfitzgerald]

One of the other dentists was listening to this talk. Afterwards he killed Doctor Curtis.

[kasetophono]

"free market works!" said John Doe from Alamitos Bay

[hollobones]

You missed a major point about government intervention, eventually some businesses will get so big they can negotiate a better price for their raw goods allowing them to have a huge advantage over their competition. Also as seen in small towns superstores can roll into a town and shut down all local businesses due to them being able to out price the competition and once the other businesses shut down they can then use their brand loyalty and lack of competition to raise prices and lower wages. While you made several valid points in your argument you still only scratched the surface of this debate and missed out on all the loopholes of supply and demand.

[tomio]

Nice and all, but what he described can even happen without all these regulations - in a situation where people are competing against each other to put the other out of business, eventually one WILL beat another and put the other out of business - leaving one company to have more of an advantage over another, making it easier for a monopoly to form. The monopoly creates its own demands, it can pay for greater advertising than smaller businesses for example, expand into more areas, and then you have exactly the problems he brought up, even without a state interfering at all.

It’s not state intervention that’s the problem if that state doesn’t intervene, it’s the capitalist market man.

[bernardosuarez]

Capitalism (free market, free trade, free enterprise and limited government to be more precise) is the only sistem that has get people out of poverty and has raise the quality of live

[rohannaik]

His whole example operates given a perfectly competitive market structure, no consideration is given to what companies actually display (monopolistic competitive or oligoplistic in nature). Also were is the empirical evidence on regulation, or even why it might be required.

[julianneelizabeth]

It felt like he kept circling back about the idealistic ways of how a free market COULD be... but didn't touch base enough on how the free market functions with governments influence.. at the end of the day we don't actually live in a free market but a mixed economy.

[pfrost]

In a perfect world free markets would be perfect. The issue is people are greedy and will exploit whoever and whatever they need to in order to enrich themselves. Free markets lead to governmental corruption and economic collapses. In a free market it’s inevitable that the rich continue to get richer and the poor inevitably become poorer.

[Benstyping]

Justify that USSR statement. Maybe it didn't work so well because the free market naturally produced better weaponry because that's one of its strong suits.

[OMAR-vqyb]

I love how i searched for poetry, but this popped up. The algorithms trying to steer me towards corporate interests and neoliberalism.

[ethicalcage]

the idea of a free market is utopian it will never happen based on the waring mentality of competition.

[borodinbonobo]

Dear Arik. You are young, idealistic and outrageously manipulated.
Son... there cannot be any free market while neoliberal capitalism is sweeping all kinds of political economy in the name of chrematistics idiocy in global scale.

[solarpunk]

I don't think it's fun to spend or make money. But yeah...everyones different.

[gupyb]

A nice but not really objective neither realist video, I have 3 counter arguments to Mr Schneider thesis:

1) 3:43 "... we'll raise our wages, we want to retain our employees after all..."
No, they won't, because barista is a low entry unskilled jobs paid minimum wage if not less and because corporations like Starbuck want to make money first, not please their employes.

2) 7:23 "... when free market takes over, costs generally go down..."
If you look a the worldwide inflation and cost of living, I can hardly see any of this deflation anywhere.

3) 4:12 "... what happen if they turn to an alternative..."
Here again, an old fallacious argument used over and over by free market advocates: corporation can unfairly use regulation to eliminate competitors so... we must reduce regulation... instead of not enacting unfair regulation.

Do you need an analogy to understand? If bad people hire hitmen to kill other people, we must disarm hitmen so their victims can defend themselves... instead of prosecuting the guy that pay the hit.




But, I conceid to Mr Schneider that market regulations are alike any medicine, good when needed, poisonous when overused.

[rogggggerful]

The extreme inequality we have now favors extreme monopolies, the wealthy billionaires absorb all the money from the lower classes, store it away in fiscal heavens and so the money is not reinvested. Middle class people on the other hand reinvest almost all the money and so the businnes cycle continues. So, unless you tax away the extreme inequality we have now, you wont have prosperity, this is just 1+1. You have either a middle class economy or you have a billionaires and poor people economy, you cant have both. The "free market"-mantra is just pure ideology, not factual in the real world

[singsong]

Free market doesn’t actually work though

[danbeaudreau]

This kick thinks that record povertyband homelessness in N. AMERICA and western Europe is working???
What is the free markets plan to solve problems that aren't profitable.

[jabjohn]

This guy is advocating for capitalism not the free market 😂