Capitalism vs. Socialism: The Truth About America's Mixed Economy

In this episode of The P.A.S. Report Podcast, Professor Nicholas Giordano sits down with economist and author Richard Salsman to dissect the myths and misconceptions surrounding capitalism. They break down how tariffs act as hidden taxes on consumers, the Federal Reserve's role in fueling inflation, and why America hasn't been a pure capitalist nation in decades. The conversation dives into the dangers of government intervention in both the economy and education, the national debt crisis, and the urgent need for school choice to restore economic literacy. This is a must-listen for anyone who wants to understand the real differences between capitalism and socialism, and how government overreach is undermining both our economy and our freedom.

Episode Highlights

• Why America's mixed economic system is drifting further from capitalism.
• How tariffs, the Fed, and political manipulation of interest rates hurt everyday Americans.
• The education system's failure to teach the truth about capitalism vs. socialism.

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Timestamps

• 00:54 The Call for a Capitalist Revolution
• 01:30 Understanding Capitalism in America
• 02:09 The Impact of Tariffs on the Economy
• 11:08 The Role of the Federal Reserve
• 18:22 The National Debt Crisis
• 24:10 Capitalism vs. Socialism: A Misunderstood Debate
• 31:25 The Future of Education and Government Intervention

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