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In this interview with Ken Griffin, Michael Milken asks why the younger generation is losing faith in the free enterprise system.
Why do younger generations seem to be losing faith in the free enterprise system. And what does this mean for the future and what should we do about it.
Key - Excerpts
07:00 "There is a sense that the ability to get ahead has been diminished."
Government - Degrees - Subsidization - Economy - Greatest
09:20 "Where we see the government involved in great degrees of subsidization, is where we often see the economy break down the greatest."
09:45 "If you look at student loan lending, which the US government effectively nationalized during the great financial crisis, you're now looking at the consequences of this 11 years later - the cost of college education exploding since the government has been involved, creating a generation of students, who are now graduates, who are completely disillusioned with their economic prospects."
"You and I grew up in a different era where the cold war was was raging on and there was a great debate in America about the strengths weaknesses of socialism as compared to the economic freedom that we enjoy in our country. And we saw that question answered."
"We saw the fall of the USSR the fall of Eastern Europe and we realized that that form of economic system left people in poverty in a world of little choice, in a world of scarce opportunity and it was incredibly clear that our free market system created far better standards of living.
Son - Bernie - Sanders - Donald - Trump
You know I have I have a young son and he's eleven now and when Bernie Sanders was running against Donald Trump or Hillary Clinton back few years ago, there's a photo of a stadium full of supporters and I said to him, this is an entire stadium of people who don't know history and...
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