The Economics of Bernie Sanders

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  • Published on Nov 24, 2019
  • Bernie Sanders, a democratic candidate for president in 2016 and once again a major contender for president in the upcoming 2020 election. Bernie sanders is also a long serving independent senator for Vermont so that means when we are looking at his economic policies we have more than just campaign promises to go off of, we have a long and tenured history in politics.
    Bernie is a self described democratic socialist, which is a big claim to make as a career politician in the united states, a country that takes great pride in its free wheeling capitalistic market. But that’s the first big distinction that needs clarity. Socialism tends to conjur up imagery of soviet era soup lines, gulags, and inefficient state run industries. But surely this isn’t the future that Bernie Sanders is advocating for? To best understand his policies, perhaps it is best to understand his self appointed label.
    Discord - discord.gg/rTKJksx
    Enquireis - loungejita@gmail.com
    References.
    Rehmann, J., 2016. Bernie Sanders and the hegemonic crisis of neoliberal capitalism: What next?. Socialism and Democracy
    Holahan, J., Clemans-Cope, L., Buettgens, M., Favreault, M., Blumberg, L.J. and Ndwandwe, S., 2016. The Sanders single-payer health care plan
    Mermin, G., Burman, L. and Sammartino, F., 2016. An Analysis of Senator Bernie Sanders’s Tax and Transfer Proposals. Tax Policy Center
    Gaffney, A. and McCormick, D., 2017. The Affordable Care Act: implications for health-care equity. The Lancet, 389
    Durbin, E.F.M., 2019. The politics of democratic socialism: An essay on social policy
    Adler, P.S., 2019. The 99 percent economy: How democratic socialism can overcome the crises of capitalism. Oxford University Press
    Jowitt, K., 1974. An organizational approach to the study of political culture in Marxist-Leninist systems. American Political Science Review, 68
    Crawford, J.T., Brandt, M.J., Inbar, Y., Chambers, J.R. and Motyl, M., 2017. Social and economic ideologies differentially predict prejudice across the political spectrum, but social issues are most divisive. Journal of personality and social psychology

Comments • 2 811

  • Economics Explained
    Economics Explained  Month ago +205

    Hi guys, yes the thumbnail is wrong XD it has been fixed up now, otherwise as always I hope you enjoyed the video, I will be live streaming the Q&A after this video goes up so keep an eye out for that.

    Discord link - discord.gg/rTKJksx

    • Otto Pike
      Otto Pike 15 days ago

      @Gareth De Bruyn he did a trickle down economics video. Apparently he didn't think he did a good job though.

    • Gareth De Bruyn
      Gareth De Bruyn 15 days ago

      Can you guys give me a video of the economics of giving the rich huge tax cuts.

    • Otto Pike
      Otto Pike 21 day ago

      @CardPlay3r I've seen him talk about it in interviews. I'm not sure if he's confirmed that he definitely will try and impliment it.
      As for canceling student loan debt, it's an idea that I definitely agree with. Debt serves two purposes, to allow you to borrow against your assets, and to help you in case of emergencies (the functions are to be connected ideally). However in the case of student loans neither ought to be required. I would much rather we switch to some kind of voucher system if we want to make it something that everyone can access.
      However I don't think this will have any impact on whether or not we'll experience a recession. Before the Great Depression spending was at an all-time high. The reason why we have boom-bust Cycles is because we have a very precarious investment procedure that is mathematically unsustainable in various places. Increasing spending will have no impact on the precariousness of our system. And depending on how he cancels the student loan. It's possible that that in and of itself could trigger a recession because our stupid system depends on it as a source of cash flow.
      Now maybe he'll just bail out everyone who suffers from his policies. I don't think that's the best solution but it's certainly one thing that he could do. But knowing Bernie Sanders I find that to be a bit of an unlikely way for him to behave.
      Unless we're going to change things like the rate of fractional Reserve banking and or handing some of the fiscal policy responsibilities down to the States, we're going to continue having boom-bust Cycles. And no amount of increase in consumer spending is going to have any impact on that. It's just going to increase the size of our unstable economy.

    • CardPlay3r
      CardPlay3r 21 day ago

      @Otto Pike where does he advocate for guaranteed employment? That's not a thing anywhere on his platform as far as I'm aware.
      As for market recession, how do you feel about the theory that cancelling student loan debt is going to pump spending by a lot thus creating a boomimg economy (based on actual increased spending power, not wall street deregulation so no boom and bust)? To me that makes a lot of sense.

    • Rojas-messilia
      Rojas-messilia 28 days ago

      @STL Always Bernie would never ask for his staffers to be paid less. The media is heavily motivated to paint him in any bad light they can. If you are trying to make a point about your horrendous failures as a citizen and feed the Chinese propaganda machine, don't vote for Bernie. Otherwise, vote for him. You don't fight China by becoming China. China already has the ownership advantage.

  • Todd Sperling
    Todd Sperling 6 days ago

    Bernies America would not be a place of entrepreneurial spirit. He has a great disdain for the wealthy and successful. In fact the "millionaires and billionaires" are his scapegoats for everything wrong.

  • 3333 33333
    3333 33333 7 days ago

    Agree w the general sentiment about Medicare for all, however I wanted more in depth analysis of his economic agenda. Not your best video.

  • Abitourist03
    Abitourist03 8 days ago

    What about Somalia? That's the perfect example for an anarchist society, according to your criteria...

  • Ingram Christel
    Ingram Christel 13 days ago

    This video was, unfortunately, more about the intentions of Bernie than the actual economics of his policies.
    Bernie's definitely not a bad guy and only wants the best for the US, but that doesn't remotely mean his policies will work the way he intends them to.

  • GREYLYNN - SNAKEVENOM113% Fire

    Bernie has no form. He ain't no ALPHA MALE. We need a LION in the white house.
    The only LION is the TRUMPSTER..
    There are animals/beasts on the world stage, old Bernie is a flipflop zebra. The Prey ain't no hunter, your a sheep old Commie Bastard!!!

  • mzismamacow
    mzismamacow 13 days ago

    Whoa, back that up... Dictatorships can’t be aligned with Socialism (Left/Right Spectrum) because they cannot be categorized as socialism in the first place.
    ************************************
    Democracy + Private Ownership = Capitalism
    Democracy + Public Ownership = Socialism
    Dictatorship + Private Ownership = Fascism
    Dictatorship + Public Ownership = Communism
    -Leonard Roy Frank
    (20th Century American Epigrammist)

  • 4 7
    4 7 14 days ago +1

    Yang gang

  • David Hasselhoff
    David Hasselhoff 14 days ago

    This is interesting but you confuse a lot of factors of politics is the left-right spectrum, particularly as most anarchists are leftists. Further, the specifics of Bernie’s plans are left out and is instead generalized. Not bad, but fairly sloppy.

  • FuzzyBlue
    FuzzyBlue 14 days ago

    Keynesians + War really suck.

  • Courtney P
    Courtney P 14 days ago

    M4A costs for a decade: $33Trillion÷10 years. This equals $3.3Trillion cost per year. Taxes increase, but Americans save a total of $886 Billion dollars in costs---no premiums, copays, deductibles, etc. In 2017, $3.5 Trillion alone was spent (increase by 3.9%), & in 2018, $3.65 Trillion spent (4.28% increase). Take the 2 figures & average them, for an ESTIMATE of $3.56Trillion/yr (😂as if!) × 10 years=$35.6Trillion. Deduct $35.6 - 33.0 = $2.6 Trillion in savings for 10 years, and the savings is likely MORE due to the annual INCREASE in healthcare per year, which increases on average about 4% or likely slightly > each year. So in 2019, I project we'd have spent about $3.796 Trillion. USA Healthcare GDP is already nearing (or about) 20%, and GDP will further INCREASE under the current system. M4A works. Numbers don't lie, not when you're looking at the bigger picture holistically. EVERYONE is covered under M4A, regardless of employment status. This is feasible. The rich simply don't want to pay substantially more in taxes, and under the current system (tax loopholes "exemptions"), they are NOT paying their fair share. In fact, us Americans are unwittingly subsidizing billions (likely lower Trillions) in various so-called capitalistic industries that are annually increasing in profits (i.e. healthcare industry). People lie, but numbers don't. Hope this helps. Happy New Year!

  • Brandon Miles
    Brandon Miles 15 days ago

    Venezuela relied on oil for 90% of their revenue, and were crippled by US oil companies artificially propping up the price and then dropping it overnight. Combine that with crippling sanctions, that's what you get. Look at Cuba. That tiny island has been attacked economically by the US for half a century. They are not a booming world power, but they have less homeless, hungry and sick people per capita than the US. They actually have some of the smartest doctors on the planet.

  • Roval Chadoms
    Roval Chadoms 15 days ago +2

    9:48 Mmm well that was pretty one sided but ok chief.

  • Brandon Miles
    Brandon Miles 15 days ago

    Many of those people employed to deal with insurance bureaucracy will now be able to move into roles actually helping people, opening up new clinics, and providing actual support for clients. Middle management also are probably making enough money to find their way into something else should they lose their jobs.

  • Brandon Miles
    Brandon Miles 15 days ago

    This was almost as bad as I thought. I think you did good with explaining his policies. But. You don't explain real modern economics with anarchy on one side and authoritarian on the other, being left and right, that's a horrible graphic. You can have a free market economy that has a authoritarian government, see Pinochet's Chile and you can have a distributed economy with workers in control with the ultimate personal freedoms, see the Paris communes. The true left values more than anything the democratization of the workplace and economy, extending the same freedoms to everyone. Now, leftists argue just what that means for the government role (or lack of) but that's the gist of it.

  • ethan box
    ethan box 15 days ago

    Way to puke your bias all over us at the very beginning of the video.

  • Dr. Guru
    Dr. Guru 15 days ago +1

    Where's the economic part? Forgot to mention the part where he wipes out student debt! How do you explain paying for it, the effectiveness of re-training programs, unemployment rates, R&D and impact on innovation and IP, inflation, increase in minimum wage impact, efficiency of government run industries, corruption and crony capitalism of government run policies.......... his policies are a failure before implementation! The system is broken but these would cripple everything.

  • jon jone
    jon jone 15 days ago

    Out right communists bullshit. will not work no matter how you sugar coat it. trump 2020 to keep American great 🇺🇸🇺🇸🇺🇸

  • Mark Fischer
    Mark Fischer 16 days ago

    Life expectancy does not correlate and is not indicative of the quality of medical care.
    We only have to look at the UK's NHS to see where we don't want to go. Do they still have a one year waiting list for hip replacements? Weeks to wait after diagnosis for cancer treatment to begin. In the US the response is immediate. The medical care system isn't broken, only the system to pay for it is.
    How many new drugs were developed in countries where the pharmaceutical industry was government owned? None I think.

  • Kevein Kevin
    Kevein Kevin 16 days ago

    4:24 I can smell the commie butthurt lmao

  • branden hickerson
    branden hickerson 16 days ago

    Many rich countries have some form of publicly funded healthcare but pay less for many healthcare services. Boom! Figured out whats better. Next question.

  • Justin Freeman
    Justin Freeman 18 days ago

    I really appreciate the well-educated, "outsider" perspective. It's VERY difficult for most Americans to discuss politics with each other without getting emotional and, judging by your accent, you either aren't American or at least weren't born in America. Thank you for all of these wonderful, scholarly videos. I hope political leaders the world over listen to you.

  • Denversupermarket
    Denversupermarket 18 days ago +1

    Someone: 2+2=4
    Republicans: LIBERAL BIAS!!!

  • Kyle D
    Kyle D 19 days ago

    8:17 😂😂😂🤣🤣🤣

  • Kyle D
    Kyle D 19 days ago

    Hugo didn't do his job right. The problem was with that fuckery not the economic system

  • Kim-Jong Un 100 million subs or I declare war

    Now do my economics

  • Mario Thibau
    Mario Thibau 19 days ago

    Delete this video because it is wrong.

  • Yesudeep Mangalapilly
    Yesudeep Mangalapilly 20 days ago

    A turd with a cherry on top is still turd.

  • Oskar Evans
    Oskar Evans 20 days ago

    Wow this video is so unbelievably biased it's a good thing it's getting deleted soon.

  • JB Lamgo
    JB Lamgo 20 days ago

    Seize the means!

  • Bill Green
    Bill Green 20 days ago

    You didn't mention that we pay almost double what Canada pays on healthcare per capita and we don't have free healthcare.

  • Omar El Shazli
    Omar El Shazli 20 days ago

    Please do Jeremey Corbyn!

  • Vivien Toft
    Vivien Toft 20 days ago

    Economic socialism has nothing to do with public ownership of production. Get out of OZ and visit Sweden mate. As the rest of the video makes clear!

  • Keenan Sullivan
    Keenan Sullivan 21 day ago

    Haha EVE

  • Jason Nava
    Jason Nava 21 day ago +3

    "Sometimes a visual is necessary."
    (Leaves a visual up for less than one second.)

  • THE Adam
    THE Adam 22 days ago

    America has the longest average lifespan if you are to remove death from car accidents and homicide/gun related deaths

  • seaofgreens
    seaofgreens 22 days ago

    Anyone that conflates Anarchism with the right is already an idiot by most measurements.

  • Fearless Potato
    Fearless Potato 24 days ago

    Yeah so is great to make the billionaires pay more right? I guess is very hard for them to leave to Monaco or Andorra and save their money there.
    Oh sure more government spending will make the poor have more chances...
    I guess corruption and inefficiency are things that can only affect other nations not the US.

  • Holey Heathen
    Holey Heathen 24 days ago +1

    Unfortunately Bernie is mislabeling himself as a democratic socialist when he's actually a Social Democrat akin to FDR.

  • Ofir Schwartz
    Ofir Schwartz 25 days ago

    No economics, just opinions in this video. Waste of time.

  • Rob Eri
    Rob Eri 25 days ago

    How do u have so much faith in government? The VA is wholly run by the government and we all know how bad that is. I can't imagine how much worse it will be when the government will be responsible for all of the US. There is a big difference between having health care on paper and in practice

    • Blipps
      Blipps 22 days ago

      You sound like a teenager that has just found out about libertarianism lmao just watch some kyle Kulinski and destiny already before I kill myself

  • Charlie Gilbert
    Charlie Gilbert 25 days ago

    By putting Anarchy as far right are you referencing anarcho capitalism, rather than traditional anarchism which tends to fall under centeral far libertarian.

  • Austro Punk
    Austro Punk 26 days ago

    MONETARY KALEIDICS... look it up people

  • Cromwellian Protectorate Republican

    The issue of Sanders is his past support of such authoritarian socialism in Cuba, Venezuela and the USSR.

    • Cromwellian Protectorate Republican
      Cromwellian Protectorate Republican 21 day ago

      Blipps I don’t care either way, many of the Blue states supported Obama and the democrats also until they saw Trump, and given the degree of stupidity that’s ruling them now, they aren’t worth the votes.

    • Blipps
      Blipps 21 day ago

      @Cromwellian Protectorate Republican I used to be pro tump until I watched destiny trust me dude

    • Cromwellian Protectorate Republican
      Cromwellian Protectorate Republican 22 days ago

      Blipps Yeah white liberals and white conservatives, but then in Europe conservatives tend to be the educated elite such as the United Kingdom and Germany. And left wing policies are appealing to people who have a financial incentive to to so, such as college students in America who have massive debts, and want to throw their debts onto the pay helps of the uneducated working class.

    • Blipps
      Blipps 22 days ago

      @Cromwellian Protectorate Republican look at the average iq comparison between conservatives and liberals lmao

    • Cromwellian Protectorate Republican
      Cromwellian Protectorate Republican 22 days ago

      Blipps Yeah, he really isn’t. And he’s anything but based on reality. The fact he made you a social democrat shows just why idiotic policies are soo popular amongst the left in that regard. You may as well give up, you’re clearly not worth talking to when the inky source of political backing you have is from a biased hack like secular talk.

  • Rick in Texas
    Rick in Texas 26 days ago

    Bernies plan is a form of wealth distribution. In order to give something like free college tuition or free healthcare means the government must raise taxes. This is essentially government redistribution of wealth. The biggest problem with this is that too often people who receive something for nothing don’t appreciate, and costs ultimately rise. Free market capitalism is still the best way to manage a country.

    • Blipps
      Blipps 22 days ago

      You sound like a teenager that has just found out about libertarianism lmao just watch some kyle Kulinski and destiny already before I kill myself

    • Do Dodakowski
      Do Dodakowski 25 days ago

      Free market capitalism is like a mood that punches itself on who gets this damn potatoe

  • jae ho Bae
    jae ho Bae 26 days ago

    So you explain the economics of it when???

  • Nate Huynh
    Nate Huynh 27 days ago

    Well, our economy is going to be exactly like the DMV, if Bernie become President. Government can’t even do the current job that they have right now.

  • James Hrouda
    James Hrouda 27 days ago

    Why the race-mixing at the 5m mark?

    • Blipps
      Blipps 17 days ago

      @James Hrouda Scottish people in the 1890s weren't even considered white people but now we do obviously call them white, culture changes

    • Blipps
      Blipps 17 days ago

      @James Hrouda Dude I want to be a citizen of earth not a country

    • James Hrouda
      James Hrouda 17 days ago

      In order to maintain diversity. If the races mix too much, then they wont be identifiable as separate races and we will have lost diversity.

    • OhNotThat
      OhNotThat 17 days ago

      Why not?

    • Blipps
      Blipps 22 days ago

      the fact that this is an issue for you should be a reflective moment for you

  • Rojas-messilia
    Rojas-messilia 28 days ago

    Really don't like your political axis, really insufficient. The pop - polsci model of an egalitarianism and a libertarianism axes are much better and usable.

  • Eason Poston
    Eason Poston 28 days ago

    You didn’t even mention for a second his $15 min wage and what affect that would have on a lot of jobs, free college, Green new deal, or his most liberal tax policy ever proposed and what that would do to companies, but the most important aspect you missed is how do we pay for an extra $27 trillion over ten years in healthcare for all, the 75 trillion green new deal over 10 years, the 1.5 trillion college debt he will wipe out along with the 100billion in annual savings for college goers. We already have a 1 trillion debt and if you go back to Obama taxes it would be 600B every year, so without blowing up the debt even more how do you pay for these programs? 50% corporate tax?

    • Blipps
      Blipps 22 days ago

      over ten years it's $27 trillion under medicare for all and for private its $35 trillion you just parroted disingenuous reporting

  • Danny Cardona
    Danny Cardona 29 days ago +1

    Bernie 2020

  • lloyd cross
    lloyd cross 29 days ago

    Trying to describe a self confessed socialist as being a centrist is very disingenuous.

  • btakesa
    btakesa Month ago

    No economics explained just a political explanation. You let your standard down with this video, no economics just political opinions.

  • DannyDaDuffyDucking Daffer

    Now I need to know more of what he wants to do cuz I'm rooting for this guy now so far

  • Zecheria Adnan
    Zecheria Adnan Month ago

    Go bernie

  • James
    James Month ago

    Anarchy is a left-wing ideology based on elimination of unjust hierarchy like capitalism.

    • OhNotThat
      OhNotThat 17 days ago

      equality was not mentioned here. If your primary line of attack is countering something someone didn't actually say, then your argument fails instantly lmao. If humans are left to their "own devices" anything can happen this is entirely a stupid and retarded argument. You might as well defend absolute monarchy with this.

    • Cromwellian Protectorate Republican
      Cromwellian Protectorate Republican 26 days ago

      James If it needs to enforce equality then it is not eliminating hierarchy, if humans are left to their own devices, hierarchies form naturally, capitalism allows it be anyone so long as they have the skill and minds to do so, in anarchy it’s rule of might makes right,

  • Ignatius J. Reilly
    Ignatius J. Reilly Month ago

    I'm disapointed there were no projections on how much this will cost the tax payer

  • Walters ProperMan
    Walters ProperMan Month ago

    I didnt watch the video but, 1) why doesnt jeff nationalise amazon, then with the profits from amazon he should pay 75% to each $ of profit to the health service, and let him keep 25% for himself. Therefore if a man wants an operation that cost 100$ they have to buy 100 mp3s at 2$ each, jeff keeps 25$ and the cost of the operation is 75$, 100$ goes to the artists. the cost of the operation is 75$ , Australian and English center business idea here fellas. i know how you love your rap, but you aint going to get one here ;)

  • Mr. Sorrow
    Mr. Sorrow Month ago

    He supports the green new deal. The total destruction of america into a marxist, social justice, tree hugging fantasy land.
    Maybe America’s healthcare is more expensive because we do all of the research, all of the innovation, have no wait times, the best quality in the world and Government run failures like medicare that drive prices up. Capitalist countries worry about obesity while socialists die from starvation. Frankly I will accept the primary flaw of capitalism, it produces soo much excess of food that americans are obese.

    • Blipps
      Blipps 22 days ago

      You sound like a teenager that has just found out about crowder lmao just watch some kyle Kulinski and destiny already before I kill myself

  • Lenta Jzx
    Lenta Jzx Month ago

    I hope I can vote for him in 2020.
    So we can build a country that works for everyone and not the few.