WEBVTT

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So maybe maybe the most amazing story
in all of human history is the story

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of what has happened to humanity over
the last two hundred and fifty years.

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About three hundred years ago, how
many people do you think what percentage of

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the world population do you think lived
in extreme poverty? And when I say

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extreme poverty, I mean the poverty
of the poorest of the poorest people here

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in poor who are living on let's
say, two dollars a day or less

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in real dollars. And maybe there's
nobody who who lives that poor, but

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there are people in Africa, and
there are people in parts of Asia who

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are living on two dollars a day
or less. I mean, imagine even

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in your life what that would mean
to live on just two dollars that's less

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than a latte at Starbucks, right
for a day. What percentage of the

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population in the world you think lived
on two dollars a day or less three

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hundred years ago? Over seventy percent. Anybody else, ninety eight percent,

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ninety five percent more almost everybody,
and I'm talking about everybody Western Europe,

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England, the whole world. Ninety
plus percent of the population lived on two

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dollars or less a day. People
woke up in the morning. Mostly they

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went out and they farmed. Most
of the population were farmers. They came

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home when the sun set, they
ate a quick dinner, they went to

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sleep. No reading. Nobody could
read. No electricity, no light,

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no toilets, no any water,
no iPhones, no internet, no TikTok.

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Can you imagine? That was three
hundred years ago? And that seems

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like a long time ago. But
for all of human history, for a

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hundred thousand years, basically human beings
lived about the same. There were some

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changes. We became agricultural at some
point, but we were still poor.

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And what was life expectancy during that
period of time? How long did people

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live? Forty in the most prosperous, best places, thirty in the rest

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of the world. I am long
dead, long, long time ago.

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You guys already in middle age.
You've got ten years to live and you

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finished, right, That was life. Fifty said of all the children died

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before the age of ten. One
of the reasons people had a lot of

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kids instead of the end you half
of them were die. Life was brutal,

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You were short, he was unpleasant. You had no choices in your

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life. Who did you marry.
You got to choose who you married.

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No, your parents told you who
to marry. You didn't choose your profession.

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You did what your parents did.
Most of you were farmers, and

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you continue to be farmers. But
if your father having to be a blacksmith,

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you became a blacksmith. There were
no options. And if you're a

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woman, forget it, zero options. You did what you were told.

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And yet look at us today.
Look how rich we are relatively speaking,

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where gazillion is. We have running
water and electricity. We don't live on

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two dollars a day less. Indeed, we spent two dollars on a latte.

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We have iPhones, we have amazing
technology. We live your generation could

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live to be one hundred and fifty. It wouldn't surprise me at all if

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biology doesn't advance the point right too
late for me, I think, but

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for you, I think we're going
to see real life extension Already. Life

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expectancy today for me is probably well
into the eighties, more than double what

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it was just not that long ago. What happened, what happened to take

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us from that poverty to this wealth? And why don't we appreciate that more?

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Because what happened is we became free. What happened is we allowed people

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to start businesses, to build,
to create, to innovate. What we

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got was a little bit of what
people today called capitalism, and yet we

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hate it. We hate capitalism,
We denounced capitalism. You and Peru have

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elected leftist government, but so is
Colombia, so is Chilean, so is

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Argentina's with Brazil, and so is
every almost every country in the world.

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So what's interesting is during the nineteenth
century and early twentieth century, we had

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a system where wealth is created.
There was basically a system based on the

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idea of free markets, of leaving
people free to pursue their own ideas,

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to build you own businesses, to
not ask for permission in order to start

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a is this, and to employ
people in order to transact with one another.

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We had a system where basically people
we're free and left alone, and

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we create an unbelievable wealth. It
really is unbelievable how wealthy we are by

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historical standards. Four hundred thousand years, nothing happened. Suddenly we became rich,

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And that should be the most interesting
important question in all sciences. Why

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what did we get right? And
what basically we got right is freedom.

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And the most important question we should
ask ourselves today is why is it so

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easy for us to give it up? If it contributed so much to our

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success. Why are we willing to
give up our liberties and our freedoms?

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Why are we willing not to have
a free market but to control, to

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regulate it, and and and try
to manipulate it in every country in the

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world. Why are we so attracted
to leftist ideas that have failed everywhere they

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have been tried. Socialism to an
extent that it is tried leads to starvation,

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death, destruction. Under communism in
maoist China, anywhere between twenty two

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hundred million people died under communism.
Under stale it anywhere between thirty and one

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hundred million people died in Venezuela.
Today people are struggling to eat, to

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find food. You know, Venezuela
used to be the richest country on a

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capita GDP basis in Latin America.
Chile used to be the poorest country in

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Latin America on a PI capita GDP. Venezuela turn socialist and became the poorest

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country in Latin America. Chile turned
a little bit capitalism, not a lot,

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just a little bit, and it
became the richest country in Latin America.

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So who does everybody in Latin America
want to copy Venezuela? The failure,

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that's all we want to copy.
We reject the success. Something about

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free markets, something about capitalism we
really don't like, Well, you really

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reject and again not unique to Latin
America. You see this phenomena all over

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the world. What is successful is
freedom and capitalism and free markets. What

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is failure is government control, government
manipulation, central planning, socialism that's always

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failed. What do people choose socialist? Why do we choose fail You you

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wouldn't do that in your postal life? I hope, I hope some of

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you might. You know that boyfriend
who's not good for you, and you

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keep going back to him. That's
like socialism, keep going back to it

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even though we know it's not good
for us. But then I postal lives

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we learned quickly. In our public
lives, we don't learn at all.

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Why there's something about capitalism. This
really is yucky, unpleasant. We don't

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like it. What is what?
What? What is? What is?

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Uh? What are free markets?
About what is the essence of markets?

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Just even not free? Just markets? What why do we go to the

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marketplace? Why do we go to
the marketplace to do? What? To

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trade? But why do we want
to trade? Right? Like? Why

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did why did Steve Jobs make an
iPhone? Why do do you make one

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of these? It's pretty right?
I like my iPhone. Imagine if the

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government had made one of these,
right, a government committee would have made

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one of these, it wouldn't be
the size of this room, really ugly

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and never work. What did what
did? What did Jobs make one of

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these? Steve Jobs to form a
CEO of Apple who died? He made

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this because what it helps him make? Just yell whatever whatever comes money right

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and helps they make money. He
made it for the money. A lot

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of profit in this. They sell
this for fifty percent profit margins, which

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is high right if they eat eight? He made it to make money.

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Every business, every business out there, everybody who sells you stuff out there,

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is doing it because they make money. Why why do they make money?

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Because they live off of it,
the vast off of it. They

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become rich off of it. Is
it only about money? Did he only

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do this for money? No?
What else boy the innovation, But what

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about the innovation? Yeah, he
enjoyed it. He loves the stuff.

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This is so much fun. And
hopefully when you get a job one day

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or you start a business, you
won't just do it for the money.

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Also for the money, money's important, but you'll do it because you love

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it, because you're passionate about it, because it really gets you excited.

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You get up every morning excited about
making something in the world. You have

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a vision. Steve Job at a
vision and he made it a reality.

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Soa who at the end of the
day, did Steve Jobs make the fight

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phone full? He didn't do it
for us, and he didn't ask us

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what we wanted. Do you know
how many focus groups? You know focus

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groups? If you're take in a
Malkety class, they teach about focus groups

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and how many focus groups Apple did
before they designed the iPhone, before they

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put the iPhone out zero you know
Forward, the guy who forward from the

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cause. He once said, if
I asked my custom about what they want,

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they would say a faster horse.
We don't know what we want.

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It's geniuses like Ford and Steve Jobs
who tell us what we want. They

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present us with a product that we
fall in love with su Seem Job built

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this for Steve Jobs, and he
sells it to us because he benefits from

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it. And I went to buy
my first iPhone in two thousand and eight.

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It was two thousand and eight when
iPhone first came out and the US

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economy was going through a session,
and I went to buy my iPhone because

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I wanted to help stimulate the economy. I wanted to help my fellow man.

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And I hood from Canes the great
economists that if you consume, the

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economy gets better. So I went
to consume because I care about the economy

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and now want to help my fellow
man, because I know that's why you

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go shopping. You all go shopping
because you want to make sure people have

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jobs, and you go shopping because
you want to help stimulate economy. Right,

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anybody here go shopping for that reason. Usually there's one. It is

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one. No nobody goes shopping because
of that. I didn't go shopping because

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of that. I didn't care about
these economy. I went shopping because I

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wanted an iPhone because it was cool, because I wanted to improve my own

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life. You go shopping because you
think that the stuff you buy will make

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your life better. You go shopping
because it's for you. Some markets are

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places where buyers and sellers meet in
pursuit of their own self interest. Markets

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about the pursuit of self interest.
Markets about the pursuit of self interest.

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We're trying to make ourselves better by
working, by producing, by creating,

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or by consuming. We consume for
our own benefit. We produce for own

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benefit. We're not doing it for
humanity. We're not doing it for the

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public interest. We're not doing it
for the common good. We're doing it

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for our own good. But what
did your mother tell you, or your

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preacher or your professors? What did
they tell you about pursuing your self interest?

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Is this a noble thing? Is
this a moral thing? Is morality

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about pursuing self interests? What's morality
about? I can tell you what my

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mother taught me. My mother told
me when it comes to morality, right,

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when it comes to life, always
think of others first, think of

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yourself last. If you want to
be a good person, be self less,

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never be self interested. What do
we have a word? An ugly

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word for self interest we don't like. What is that? You're being selfish?

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Selfish is bad? Why Selfish is
you know you'll do anything to get

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your weight, hurts other people,
you'll exploit other people. So the two

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options we're given in life is be
selfish and be a horrible human being,

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or be self less put the interest
of other people before your own interest.

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Sacrifice. Sacrifice means what give something
and get what in return? Nothing or

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less. Sacrifice is about losing.
What are markets about? What do we

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just say? Markets about self interest? But morality? I was a self

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interested man morella you loses in in
a marketplace? Who loses? When I

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buy my iPhone for a thousand dollars? Why do I pay a thousand dollars

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from my iPhone? It's a lot
of money. Why would I pay a

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thousand dollars an iPhone? What's that? Because it's valuable to whom? To

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me? How valuable is it more
than a thousand dollars? That's why I'm

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willing to give up a thousand dollars
to get the iPhone. When you buy

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a nice pair of shoes and pay
I don't know, two hundred dollars for

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the pair of shoes, it's because
the shoes are more valuable to you than

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two hundred dollars now maybe they're not. To me, I wouldn't buy those

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shoes, but to you they are. So we're each buying things, exchanging

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money for something more valuable to us, and the person's selling it to us.

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Do they lose, No, they
win to I mean trade, buying

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it, selling stuff. It's like
a miracle because they win. And how

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you win both parties win trade is
win win. They're no losers. There's

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no sacrifice. There's nobody worse off. It's an amazing thing. It's how

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wealth out them at least created.
It's created by creating these win win relationships.

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So we're better off. We do
it for ourselves. And yet a

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morality teaches us that being better off
and doing it for yourself it's kind of

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questionable. Vurali tells us we should
sacrifice. Vurali tells us we should be

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self less. Roality tells us we
should lose. Now win that's noble,

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that's good. Everybody knows who Bill
Gates's. It's very quiet, Oh it's

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calling. What's everybody knows where lawn
mosque is? Yeah, Bill Gates?

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Do you know Bill Gates's? Yeah? He found in Microsoft. Anybody use

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Microsoft. Everybody uses Microsoft. I
use Microsoft. Even though I've only used

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apples for thirty years, I still
use Microsoft. Right, Wood and Excel

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and powerpoints and all that stuff.
Right, Bill Gates got super rich.

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He became a billionaire. How did
he become a billionaire? How do you

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become a billionaire by selling people stuff
they want for more than it costs you

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to produce? But selling to billions
of people, hundreds of millions of people,

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over and over and over again.
And why do people keep buying Microsoft

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stuff? Because they believe it makes
their life better. So the only way

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to become a billionaire of free market
is to make other people's lives better.

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It's to make the world a better
place. It's the increase the value of

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other people because now they can use
tools and they can be more productive.

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So Bill Gates made the world a
better place by starting Microsoft. Improved the

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lives of hundreds of millions of people
all over the world. Did we think

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he was a good guy from a
moral perspective? From an ethical perspective?

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Is he like a saint? Is
he going to become a saint soon?

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No? No? Why is he
not going to become a saint? Change?

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He brought more people out of poverty
than maybe any other person in our

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lifetime. You know, all the
millions of people who work either for Microsoft

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or for the people who like software
for Microsoft, or the suppliers for Microsoft

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computers, or all the all the
businesses he employed, millions and millions of

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people. Made the world a better
place, millions of millions of people.

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Why morally isn't he a good guy? He made the world of better place?

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What was his mistake? If you
wanted to be a saint, what

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do you have to do? Sender? Yeah, I mean you can benefit

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from it. His mistake was making
money while making the world of better place.

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Because our morality is not about helping
other people. Our morality is about

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not helping ourselves. It's about being
self less. And if you become rich,

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or you become or you enjoy you
or have fun helping other people,

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it doesn't count morally, which is
really interesting. To be a saint,

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what do you have to do?
You have to lose, you have to

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sacrifice, you have to somehow be
in pain. If we want to make

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Bill Gates, you know a saint. By the way, Bill gets used

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to be run Microsoft. What does
he do now? Anybody you know what

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he does? Now charity, he's
a philanthropist. Do people like him more

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now than when he was running Microsoft? Yeah, a little bit more.

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Well, now there are a lot
of conspiracy theories about him, but put

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that aside a little bit more because
now he's giving money away, he's not

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making it. Is he helping more
people or less people less? Why do

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we like him more because he's not
benefiting, he's only giving away. We

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still don't like him a lot because
he's still rich. He has a big

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house, he has a nice car. What would make us like him even

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more on the ethics scale? If
he gave all his money away, if

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he moved due to a tent and
maybe if he bled a little bit for

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us. A little bit of blood
helps you if you want to become a

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saint, if you're pursuing your own
self interest in any kind of way.

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Our moll code, the mall code
that our culture has today in South America

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and North America and European pretty much
everywhere in the world, it's against you.

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You're not being moll And for most
of us, what happens is we

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live a particular life. A lot
of entrepreneurs, they make money, they

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do well, they create jobs,
they change the world, They make the

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world have been a place, but
they know that they're pursuing their own self

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interest, which they know because their
mothers told them is not a good thing.

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So what do you feel when you
do one thing but you're supposed to

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do something else? What's the emotion? Starts with a g guilt? Guilt?

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You know guilt. You guys are
Catholic, you know guilt. Us

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choose no guilt? Right, It's
because we live one life and we're supposed

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to live a different one, one
of child of giving or what of sacrifice?

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So why do we hate capitalism?
We hate capitalism and free markets because

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capitalism free markets about people pursuing their
self interest. It's about people doing pursuing

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their own values, having fun doing
it, making money for themselves. And

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yeah, I'm making the world have
better place for all of us. But

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they're doing it immolately. They're doing
in a way that's immol and wrong.

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Morality and economics, morality and what
actually allows humanity to advance on two different

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planes. They don't match up,
they don't link. The one is fighting

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the other. Our morality is constantly
fighting against what makes sense economically, our

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morality is constantly fighting against what makes
sense for a perspective of walk creation,

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a freedom of advancing the wild,
and that's a conflict you cannot win if

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you're on the side of free markers. That's why we don't win. We

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always lose. Socialism is completely consistent
with the morality that the world of the

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world out there from each according to
his ability, to each according to his

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needs. It's about sacrifice. It's
about giving. It's not about creating.

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It's not about building. It's not
about making. It's about we distributing.

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It's not about the pursuit of your
happiness or your individual interest. It's not

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about trade. It's ultimately about sacrificing
some people to other people. Socialism is

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great when it comes to sacrifice,
even if it means killing a bunch of

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people. That's okay. As Lennon
said, to make it omelet you have

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to break some eggs. He was
talking about human lives, not about eggs.

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So our morality, i'm all code
that we as a culture all embrace

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is consistent with culturalism. And in
a battle between economics and morality, morality

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will always win. And that's why
we always drift in a particular direction,

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which is ultimately self destructive. We
then shift back, we go through this

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kind of we shift back a little
bit to get the economy going again,

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and then we immediately go back to
our status socialist policies. Do we distribute

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work because we can't live with the
explicit self interest that capitalism and pledge.

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We really care about freedom, if
we care about economic success, if we

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want to be as individuals and as
a cultural wealthy, then what we need

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is a different moral code. The
economic system that works we know, I

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mean, look, we understand economics, we know why socialism fails. That

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We've had great economists. You've explained
why socialism fails and explain why capitalism works.

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I mean great economists. He can, you know, second to none.

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There's no economic questions out there that
put in doubt the superiority of capitalism

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over socialism. What we need to
do is catch up when he comes to

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ethical beliefs. We need a vuality
that actually says that self in just is

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a good thing, that being selfish
actually means taking care of self and does

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lyne cheating and stealing? Is that
a good way to take care of yourself?

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Like is lying a good strategy for
living? Some of you look skeptical.

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You know, if you're not sure, he's in a little experiment you

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can do right. If you've got
a boyfriend or gofriender, just a friend,

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try lying to them for a day. Just lie to them everything they

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ask you. Lie and see how
well that goes. It's incredibly destructive.

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It's really really bad in business if
you lie, people generally don't want to

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do business with you again. If
you like your friends, you're not gonna

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have many friends. If you like
your husband and wife, divorce is in

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your future. Stealing, cheating,
these are terrible strategies. These are not

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ways to make your life better.
There are ways to make your life worse.

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So what we need is a real
understanding or what makes all like better?

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And a morality. What's morality?
What's ethics? When we talk about

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morality, high fluting stuff, what
does it actually mean? What's end?

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Yeah? Code fully a code of
values to tell us what he's good and

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what is bad? And I would
say we need a code of values to

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tell us what is good and what
is bad. And the standard for that

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should be what is good for life
and what is bad for life? Evil

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is that which destroys life. Good
is that which enhances life. So we

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need knowledge about what enhances life well
as human beings. What is the most

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important thing for human life? What
is the thing that we need to do

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in order to survive as an individuals
and as a species. What makes us

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human? What's it to treat us
and animals? Yeah, don't say thumbs.

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Something apolos to say thumbs. It's
our ability to think. It's our

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reasoning ability, it's our rationality.
We can figure stuff out, we can

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solve problems. I can put you
in a new situation. You don't have

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the instincts to know how to deal
with it. You don't have it coded

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in your DNA. How to do
it. You have to think. You

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have to accumulate evidence, you have
to analyze it. You have to come

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up with solutions. You have to
be creative, you have to use your

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mind. You have to think.
You have to be rational. Rationality is

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what makes us human, and rationality
is the one thing that leads to success.

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I mean, emotions are wonderful.
It's great to feel right. I'm

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an emotional guy. I'm pretty passionately
to tell I think right. But emotions

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are not tools of cognition. Emotions
don't give you information about the world out

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00:29:48.079 --> 00:29:55.039
there? What are emotions? Give
you information about the world inside there?

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Inside here? They tell you about
yourself. They don't tell you abou the

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world. When you get most into
trouble, following reason and following emotions.

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Emotions almost always when you when you
get into trouble, where you go.

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I should have thought about this some
more. I shouldn't have followed my emotions.

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If only I'd remembered this boyfriend is
a joke, and I wouldn't have

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gone back to right thinking. So
what makes us human, what leads to

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our success is to think. It's
to be rational. And if you're rational,

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you don't like cheat of steel because
it doesn't make sense. It's those

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are all things that altimately corrupt your
mind, corrupt your ability to think.

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Said, to be self interested means
to be rational, to be a person

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of reason. I mean this is
Iran. We talked a little bit about

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Iran. Iran's real contribution to the
fight for liberty is to ground it on

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a morality of self. And this
is life so challenging because it's much easier

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to convince people of economic principles than
it is to change people's view of ethics,

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view of morality. Your purpose in
life is not to sacrifice. Your

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00:31:14.920 --> 00:31:18.400
purposon life is not to suffer.
Your purpose in life is not to do

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for others. Your purpose in life
should be your own happiness, your own

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success. You're want flourishing. I
like to say live with a capital L

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really live. And to do that, you have to think. You have

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to use your mind. You have
to be rational. You have to guide

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your life by your mind. And
if you do that, if you guide

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your life by your mind and your
rational what kind of relationship do you want

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to have with other people? Do
you want them exploiting you? Now you

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want to exploit them? No?
What kind of relationship do you want to

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have? What's alternative to me sacrificing
to you or you sacrificing to me.

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What's the kind of relationship? Okay, what's end a win win relationship?

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Wait? What you want in life
is to maximize win win relationships. You

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want to trade, trade in material
values and trade in spiritual values. You

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want to benefit one another again in
individual relationships, Right if one in a

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couple, if one of the couple
does everything for the other and the other

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00:32:30.200 --> 00:32:35.200
one doesn't do anything back, how
long is that gonna last? Now,

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very long? It has to be
win win, It has to be a

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trade, so a morality of self
interest. There's a morality in which each

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one of us uses our minds to
pursue our values with the goal of success

355
00:32:52.480 --> 00:33:00.680
at the living while engaging with other
people in win win relationships way. Ultimately

356
00:33:00.720 --> 00:33:06.519
everybody benefits from the transaction and the
other things sick for it. Yeah,

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they be sick to do it.
Yes, you respect them and they respect

358
00:33:09.240 --> 00:33:15.400
you. It's a it's a mutual
thing of wind wind. And of course

359
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if people have that sense about their
life, they want to be happy,

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they want to be successful, they
want to live by their own mind in

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pursuit of their own values. Then
what kind of political system would they want.

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They want mother government sitting on their
shoulder and say, don't eat that

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too much sugar, don't start that
business. It's wrong. You have to

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fill out all these forms in order
to do anything, like ken try did

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00:33:43.279 --> 00:33:45.759
we got stopped? Did they point
in Peru like you had to fill an

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ug Everywhere you fill in forms and
then you know you don't hear here,

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go over there, like oh no, I ain't to Bolivia, right,

368
00:33:52.680 --> 00:33:54.839
I come into Bolivia a hand the
guy that passport, and he says,

369
00:33:55.079 --> 00:34:00.640
you need a visa. Nobody told
me. Airline didn't tell me. Nobody

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00:34:00.680 --> 00:34:04.319
said I needed visa. One hundred
and sixty dollars. Pay over there?

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00:34:04.880 --> 00:34:09.199
What a scam? Right? And
you fill in paperwork and they take pictures

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00:34:09.199 --> 00:34:16.719
and they what for? Leave me
alone. A person who values his own

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mind, values his own life,
wants to engage with other people in win

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00:34:22.119 --> 00:34:28.320
win relationship, wants to be left
alone. Does not want a cursive government

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telling what he can and cannot do, how he should shouldn't live. Such

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a person wants to live free.
So if we care about freedom, we

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need to care about morality. But
we need a numerality, a morality of

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self interest. Thank you,