I hear this person and that beat the drum for Communism (these days thinly veiled as Socialism) or Capitalism so I thought I would say a few things on them.
Communism’s main premise is the necessary subservience of the individual to the collective resulting in the loss of personal freedom and rights for “the common good”. This is more a political ideology than a sound economic system as can easily be proven by looking at various economies.
It fails in practice on that one point. Economic and political suppression of the individual by a tyrannical state results in a slave society and slave societies always fail. I make no reference here to Klaus Schwab and the rest of the power elite and their plans for a New World Order rolling out around the world as we watch.
Capitalism is the practice of using accumulated wealth to create income. It has the primary purpose not of producing goods and services but of making money make money. It fails abysmally when the purpose of making money becomes senior to that of ethically producing goods and services needed and wanted by others. The lower the ethic level of those who control the power and capital, the more corrupt the society. Greed rules.
To prevent the spurious promise of each from easing us into their respective evils, the individual members of society should be well educated as to the perils of artificial political ideologies masquerading as an economic system, the benefits of personal production and be skilled in maintaining their own ethics and the ethics of those around him.
Those they elect to represent him in the legislature must be aware of and act on the basic purpose of good government being to protect the freedom and liberty of their own people and those of the neighboring nations and to facilitate their productivity and prosperity while improving our environment. Again, no comment is made here of governments doing the exact opposite of that, unduly restricting personal freedoms, violating human rights and destroying lives and businesses in the process.
The individual in a society should be as free as possible to ethically produce goods and services needed and wanted by other members of society, unfettered by unreasonable efforts to control or restrict him by governments or other monopolies.
A skilled and competent person produces more therefore accumulates more wealth. This attracts the jealousy of malcontented incompetents who, believing nothing is ever really owned by anyone, desire to strip a successful person of some or all of his accumulated riches.
Those who obtain their wealth illegally, immorally, by corruption or influence only exacerbate this desire. The injustices associated with their unethical accumulation serve only to further fuel the jealousy of the discontented incompetents and swell their number from those disadvantaged by the unethical accumulation.
When the injustice and resulting discontent rises above a certain level, often fueled by a vocal anti-capitalist who would be tyrant, revolution ensues. And revolution usually replaces one lot of tyranny with a worse one. The French Revolution begat the Reign of Terror. The Russian revolution led to the deaths of tens of millions under successive tyrants. The Chinese revolution resulted similarly.
So we are best served by having a society composed of honest, ethical, competent producers and a fair and predictable justice system.
We have a long way to go from where we are to get to there!