A Kindly, Old Billionaire’s Advice to Millennials

via Medium.com

In the article, “Langone to Millennials Embracing Socialism: ‘I’ll put you on my plane and fly you to Venezuela,’” the arguments of Ken Langone, CEO of Home Depot, leave out many crucial facts and bring up points that are not very relevant. For example, in the interview, he argues that those who are leaning toward socialism should be forewarned that it is not a good system.

First of all, in our mixed economy, we already have socialist elements in our economy and society?—?our post office, our fire departments, our public school system, our military?—?that actually work better than they would if we were to hand them over to independent capitalists to run. And, we also have capitalist elements that work better as independent, capitalist operations than they would if we were to hand them over to the government or to socialist co-ops to run. Even Senator Bernie Sanders, who is an avowed democratic socialist, has said that he did not believe that “the little store on the corner should be run by the government”;

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