Capitalism isn't an ideology -- it's an operating system | Bhu Srinivasan

73,240 views ใƒป 2018-03-06

TED


ืื ื ืœื—ืฅ ืคืขืžื™ื™ื ืขืœ ื”ื›ืชื•ื‘ื™ื•ืช ื‘ืื ื’ืœื™ืช ืœืžื˜ื” ื›ื“ื™ ืœื”ืคืขื™ืœ ืืช ื”ืกืจื˜ื•ืŸ.

ืžืชืจื’ื: ayala dvir ืžื‘ืงืจ: Ido Dekkers
00:12
So, what is capitalism?
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ืื–, ืžื” ื”ื•ื ืงืคื™ื˜ืœื™ื–ื?
00:14
Capitalism, fundamentally, is a series of marketplaces.
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ืงืคื™ื˜ืœื™ื–ื, ื‘ื™ืกื•ื“ื•, ื”ื•ื ืžืขืจื›ืช ืฉืœ ืฉื•ื•ืงื™ื.
00:17
You can have a marketplace for lemonade,
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ื™ื™ืชื›ืŸ ืฉื™ื”ื™ื” ืœืš ืฉื•ืง ืœืœื™ืžื•ื ื“ื”,
00:19
a marketplace for lemons,
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ืฉื•ืง ืœืœื™ืžื•ื ื™ื,
00:20
a marketplace for trucks that transport lemons,
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ืฉื•ืง ืœืžืฉืื™ื•ืช ืฉืžื•ื‘ื™ืœื•ืช ืœื™ืžื•ื ื™ื,
00:22
a marketplace that fuels those trucks,
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ืฉื•ืง ืฉืžืชื“ืœืง ืืช ื”ืžืฉืื™ื•ืช ื”ืœืœื•,
00:25
marketplaces that sell wood to build lemonade stands.
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ืฉื•ืง ืฉืžื•ื›ืจ ืขืฆื™ื ืœื‘ื ื™ื™ืช ื“ื•ื›ื ื™ ืœื™ืžื•ื ื“ื”.
00:28
However, capitalism of course, as we know,
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ืขื ื–ืืช, ืงืคื™ื˜ืœื™ื–ื, ื›ื™ื“ื•ืข ืœืจื•ื‘ื™ื ื•,
00:31
is this either celebrated term
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ื”ื•ื ืื• ื›ื™ื ื•ื™ ืžื”ื•ืœืœ
00:33
or condemned term.
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ืื• ื’ื–ืจ ื“ื™ืŸ ืžื•ื•ืช.
00:35
It's either revered or it's reviled.
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ื”ื•ื ืื• ื ืขืจืฅ, ืื• ืžื•ืฉืžืฅ.
00:37
And I'm here to argue that this is because capitalism,
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ื•ืื ื™ ื›ืืŸ ื›ื“ื™ ืœื˜ืขื•ืŸ ืฉื–ื” ื›ืš ื‘ื’ืœืœ ืฉืงืคื™ื˜ืœื™ื–ื,
00:41
in the modern iteration, is largely misunderstood.
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ื‘ืชืงื•ืคื” ื”ืžื•ื“ืจื ื™ืช, ืžืžืฉ ืœื ืžื•ื‘ืŸ.
00:44
In my view,
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ืžื ืงื•ื“ืช ืžื‘ื˜ื™,
00:46
capitalism should not be thought of as an ideology,
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ืงืคื™ื˜ืœื™ื–ื ืœื ืืžื•ืจ ืœื”ื™ืชืคืก ืืฆืœื ื• ื›ืื™ื“ืื•ืœื•ื’ื™ื”,
00:48
but instead should be thought of as an operating system.
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ืืœื ื”ื•ื ื›ืŸ ืืžื•ืจ ืœื”ื™ืชืคืก ืืฆืœื ื• ื›ืžืขืจื›ืช ื”ืคืขืœื”.
00:52
Think of your iPhone.
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ืชื—ืฉื‘ื• ืขืœ ื”-iPhone ืฉืœื›ื.
00:54
Your iPhone merges hardware with software.
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ื”-iPhone ืฉืœื›ื ืžืฉืœื‘ ื—ื•ืžืจื” ืขื ืชื›ื ื”.
00:58
Apps and hardware.
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ื™ื™ืฉื•ืžื™ื (ืืคืœื™ืงืฆื™ื•ืช) ืขื ื—ื•ืžืจ.
01:00
Now think about all the hardware as the physical reality all around you,
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ืขื›ืฉื™ื• ื—ื™ืฉื‘ื• ืขืœ ื›ืœ ื”ืžืฆื™ืื•ืช ื”ื—ื•ืžืจื™ืช ื”ืกื•ื‘ื‘ืช ืืชื›ื,
01:03
and think of the apps as entrepreneurial activity,
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ื•ืชื—ืฉื‘ื• ืขืœ ื”ื™ื™ืฉื•ืžื™ื ื›ืขืœ ืคืขื™ืœื•ืช ื™ื–ืžื™ืช,
01:06
creative energy.
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ืื ืจื’ื™ื” ื™ืฆื™ืจืชื™ืช.
01:08
And in-between, you have an operating system.
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ื•ื‘ื™ืŸ ืœื‘ื™ืŸ, ื™ืฉ ืœื›ื ืžืขืจื›ืช ื”ืคืขืœื”.
01:11
As you have advances in hardware,
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ื›ืฉื™ืฉ ืฉื™ืคื•ืจ ืฉืœ ื”ื—ื•ืžืจื”,
01:13
you have advances in software.
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ืžืชืจื—ืฉ ืฉื™ืคื•ืจ ื’ื ื‘ืชื•ื›ื ื”.
01:15
And the operating system needs to keep up.
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ื•ืžืขืจื›ืช ื”ื”ืคืขืœื” ืฆืจื™ื›ื” ืœืขืžื•ื“ ื‘ืงืฆื‘.
01:17
It needs to be patched, it needs to be updated,
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ื”ื™ื ืฆืจื™ื›ื” ืชื™ืงื•ื ื™ื, ื”ื™ื ืฆืจื™ื›ื” ืœื”ื™ื•ืช ืžืขื•ื“ื›ื ืช,
01:20
new releases have to happen.
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ื’ืจืกืื•ืช ื—ื“ืฉื•ืช ื—ื™ื™ื‘ื•ืช ืœืฆืืช.
01:22
And all of these things have to happen symbiotically.
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ื•ื›ืœ ื”ื“ื‘ืจื™ื ื”ืœืœื• ื—ื™ื™ื‘ื™ื ืœืงืจื•ืช ื‘ืฆื•ืจื” ื”ื“ื“ื™ืช.
01:25
The operating system needs to keep getting more and more advanced
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ืžืขืจื›ืช ื”ื”ืคืขืœื” ืฆืจื™ื›ื” ืœืขืžื•ื“ ื‘ื”ืชืงื“ืžื•ืช ื’ื•ื‘ืจืช ื•ื”ื•ืœื›ืช
01:28
to keep up with innovation.
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ืขืœ ืžื ืช ืœืขืžื•ื“ ื‘ืงืฆื‘ ื”ื—ื“ืฉื ื•ืช.
01:31
And this is why, fundamentally,
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ื•ืœื›ืŸ, ื‘ืขืงืจื•ืŸ,
01:34
when you think about it as an operating system,
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ื›ืฉืืชื ื—ื•ืฉื‘ื™ื ืขืœ ื–ื” ื›ืขืœ ืžืขืจื›ืช ื”ืคืขืœื”,
01:36
it devolves the language of ideology
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ื–ื” ืœื•ืงื— ืืช ืžืงื•ืžื” ืฉืœ ื”ืื™ื“ืื•ืœื•ื’ื™ื”
01:38
away from what traditional defenders of capitalism think.
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ื›ืžื’ืŸ ื”ืžืกื•ืจืชื™ ืฉืœ ื”ืžื—ืฉื‘ื” ื”ืงืคื™ื˜ืœื™ืกื˜ื™ืช.
01:42
But even if you go to the constitution,
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ืื‘ืœ ืืคื™ืœื• ืื ืชืœื›ื• ืœื—ื•ืงื”,
01:44
you'll notice, before the founders even got to the First Amendment --
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ืืชื ืชืฉื™ืžื• ืœื‘, ืœืคื ื™ ืฉื”ืžื™ื™ืกื“ื™ื ืืคื™ืœื• ื”ื’ื™ืขื• ืœืชื™ืงื•ืŸ ื”ืจืืฉื•ืŸ ื‘ื—ื•ืง--
01:47
with free speech, free religion, free press,
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ืขื ื—ื•ืคืฉ ื”ื“ื™ื‘ื•ืจ, ื—ื•ืคืฉ ื”ื“ืช, ื”ืขื™ืชื•ื ื•ืช ื”ื—ื•ืคืฉื™ืช,
01:50
they thought about patents and copyright.
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ื”ื ื—ืฉื‘ื• ืขืœ ืคื˜ื ื˜ื™ื ื•ื–ื›ื•ื™ื•ืช ื™ื•ืฆืจื™ื.
01:53
They talked about the government's role in promoting arts and sciences.
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ื”ื ื“ื™ื‘ืจื• ืขืœ ื—ื•ืงื™ ื”ืžืžืฉืœื” ื‘ืืžื ื•ืช ื•ื‘ืžื“ืข.
01:57
It's the reason why I could not start a search engine tomorrow called Goggle.
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ื–ื• ื”ืกื™ื‘ื” ืžื“ื•ืข ืื ื™ ืœื ื™ื›ื•ืœ ืœื”ืชื—ื™ืœ ืžื—ืจ ืžื ื•ืข ื—ื™ืคื•ืฉ ืฉื™ื™ืงืจื Goggle
02:02
(Laughter)
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(ืฆื—ื•ืง)
02:03
Google doesn't own Gs,
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ื’ื•ื’ืœ ื”ื ืœื ื”ื‘ืขืœื™ื ืฉืœ Gs,
02:05
but I couldn't do it because there could be some confusion.
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ืื‘ืœ ืื ื™ ืœื ื™ื›ื•ืœ ืœืขืฉื•ืช ื–ืืช ื‘ื’ืœืœ ืฉื–ื” ื™ื›ื•ืœ ืœื”ื™ื•ืช ืžืขื˜ ืžื‘ืœื‘ืœ.
02:07
So even property rights have ambiguity built into them.
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ืื– ืืคื™ืœื• ืœื–ื›ื•ื™ื•ืช ืงื ื™ื™ืŸ ื™ืฉ ื›ืžื” ืžืฉืžืขื•ื™ื•ืช ืฉื›ืจื•ื›ื•ืช ื‘ื”ืŸ.
02:11
And on and on.
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ื•ื›ืŸ ื”ืœืื”.
02:12
And by 1900, you have other types of property that come into being.
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ื•ืขื“ ืฉื ืช 1900, ื™ืฉื ื ืขื•ื“ ืกื•ื’ื™ื ืฉืœ ื–ื›ื•ื™ื•ืช ืฉื”ื—ืœื• ืœื”ื•ืคื™ืข.
02:16
For instance, imagine that in 1900, you owned 100 acres of land
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ืœืžืฉืœ, ื“ืžื™ื™ื ื• ืฉื‘ืฉื ืช 1900, ื™ืฉ ื‘ื‘ืขืœื•ืชื›ื 100 ื“ื•ื ื ืฉืœ ืื“ืžื”
02:20
someplace in the Midwest.
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ื‘ืžืงื•ื ื›ืœืฉื”ื• ื‘ืžืขืจื‘ ื”ืชื™ื›ื•ืŸ.
02:22
It's very easy to see where your fence ends,
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ืงืœ ืžืื“ ืœืจืื•ืช ืื™ืคื” ื”ืฉื˜ื— ืฉืœื›ื ื ื’ืžืจ,
02:24
your neighbor's property begins.
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ื•ืฉืœ ื”ืฉื›ืŸ ืžืชื—ื™ืœ.
02:26
Now let me ask you,
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ืขื›ืฉื™ื• ืชื ื• ืœื™ ืœืฉืื•ืœ ืืชื›ื,
02:27
where in the sky does your property end?
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ืื™ืคื” ื‘ืื•ื•ื™ืจ ื”ืชื—ื•ื ืฉืœื›ื ื ื’ืžืจ?
02:30
Does it end at 1,000 feet,
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ื”ื•ื ื ื’ืžืจ ื‘ื’ื•ื‘ื” ืฉืœ 300 ืžื˜ืจ,
02:31
5,000 feet, 10,000 feet?
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1500 ืžื˜ืจ, 3000 ืžื˜ืจ?
02:34
It makes no difference,
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ื–ื” ืœื ืžืฉื ื”,
02:35
because other than the novelty of a few hot-air balloons,
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ื‘ื’ืœืœ ืฉืžืœื‘ื“ ื”ื”ืžืฆืื” ืฉืœ ื›ืžื” ื‘ืœื•ื ื™ื ืคื•ืจื—ื™ื,
02:38
man couldn't fly.
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ื”ืื“ื ืœื ื™ื›ืœ ืœืขื•ืฃ.
02:40
But within three years, he could.
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ืืš ื›ืขื‘ื•ืจ ืฉืœื•ืฉ ืฉื ื™ื, ื”ื•ื ื™ื›ืœ.
02:41
Now all of a sudden, it was very much relevant
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ืขื›ืฉื™ื• ืคืชืื•ื, ื–ื” ื ื”ื™ื” ืžืžืฉ ืจืœื•ื•ื ื˜ื™
02:44
whether your land ends at 1,000 feet in the sky,
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ื”ืื ื”ืฉื˜ื— ืฉืœื›ื ืžืกืชื™ื™ื ื‘ื’ื•ื‘ื” 300 ืžื˜ืจ,
02:47
5,000 feet, 10,000 feet.
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1500 ืžื˜ืจ, 3000 ืžื˜ืจ.
02:49
And you have to have someone arbitrate that.
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ื•ืืชื ื—ื™ื™ื‘ื™ื ืฉื™ื”ื™ื” ืœื›ื ืžื™ืฉื”ื• ืฉื™ื›ืจื™ืข ืืช ื”ืขื ื™ื™ืŸ.
02:53
And indeed, that's exactly what happened.
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ื•ืื›ืŸ, ื–ื” ื‘ื“ื™ื•ืง ืžื” ืฉืงืจื”.
ื•ื—ืžืฉ ืื• ืขืฉืจ ืฉื ื™ื ืžืขื›ืฉื™ื•,
02:55
And five or ten years from now,
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02:56
when Amazon wants to deliver a package over your house to your neighbor
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ื›ืฉืืžืื–ื•ืŸ ืชืจืฆื” ืœืฉืœื•ื— ื—ื‘ื™ืœื” ืžืขืœ ื‘ื™ืชื›ื ืœืฉื›ืŸ ืฉืœื›ื
03:00
from that UPS truck,
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ืžืžืฉืื™ืช ืฉืœ UPS,
03:01
we're going to have to decide: Does you property end at five feet,
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ืื ื—ื ื• ื—ื™ื™ื‘ื™ื ืœื”ื—ืœื™ื˜: ื”ื ื›ืก ืฉืœื›ื ื ื’ืžืจ ื‘ื’ื•ื‘ื” ืžื˜ืจ ื•ื—ืฆื™,
03:05
10 feet, 50 feet, 100 feet?
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3 ืžื˜ืจ, 15 ืžื˜ืจ, 30 ืžื˜ืจ?
03:07
Where does it end?
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ืื™ืคื” ื–ื” ื ื’ืžืจ?
03:09
And there is no ideology
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ื•ืื™ืŸ ืฉื ืฉื•ื ืื™ื“ืื•ืœื•ื’ื™ื”
03:10
that will tell you where your property ends.
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ืฉืชืกืคืจ ืœื›ื ืื™ืคื” ื”ื ื›ืก ืฉืœื›ื ื ื’ืžืจ.
03:14
It's an operating system.
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ื–ื• ืจืง ืžืขืจื›ืช ื”ืคืขืœื”.
03:16
And similarly,
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ื•ื‘ืื•ืคืŸ ื“ื•ืžื”,
ืื ื—ื ื• ื ืจืื” ืืช ื–ื” ืขื ืžื›ื•ื ื™ื•ืช.
03:17
we're going to see this with automobiles.
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03:19
A few years after the Wright brothers figured out flight,
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ื›ืžื” ืฉื ื™ื ืœืื—ืจ ืฉื”ืื—ื™ื ืจื™ื™ื˜ ื’ื™ืœื• ืื™ืš ืœืขื•ืฃ,
03:22
human beings started using more and more cars.
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ืื ืฉื™ื ื”ื—ืœื• ืœื”ืฉืชืžืฉ ื™ื•ืชืจ ื‘ืžื›ื•ื ื™ื•ืช.
03:24
And all of a sudden,
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ื•ืœืคืชืข ืคืชืื•ื,
03:25
the regulatory system -- the operating system --
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ื”ืžืขืจื›ืช ื”ื—ื•ืงื™ืช, ืžืขืจื›ืช ื”ื”ืคืขืœื” --
03:27
had to be patched to all of a sudden address the safety of consumers.
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ื”ื™ื™ืชื” ืฆืจื™ื›ื” ืคืชืื•ื ืœื”ืชืื™ื ืืช ืขืฆืžื” ืœื‘ื˜ื™ื—ื•ืช ื”ืฆืจื›ื ื™ื.
03:32
That the consumers of vehicles were presenting danger to horses,
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ื›ื™ ื”ืฆืจื›ื ื™ื ืฉืœ ื›ืœื™ ื”ืจื›ื‘ ื”ื™ื•ื• ืกื›ื ื” ืœืกื•ืกื™ื,
03:35
other pedestrians, trolleys, what have you.
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ืœื”ื•ืœื›ื™ ื”ืจื’ืœ, ืœืงืจื•ื ื™ื•ืช, ืžื” ืฉืœื ื™ื”ื™ื”.
03:38
And all of a sudden,
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ื•ืคืชืื•ื,
03:40
the drivers of these automobiles had to have driver's licenses, eye exams,
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ื”ื ื”ื’ื™ื ืฉืœ ื”ืžื›ื•ื ื™ื•ืช ื”ืœืœื• ื”ื™ื• ืฆืจื™ื›ื™ื ืœื”ื™ื•ืช ื‘ืขืœื™ ืจื™ืฉื™ื•ื ื•ืช, ืœืขื‘ื•ืจ ืžื‘ื—ื ื™ ืจืื™ื™ื”,
03:43
registered motor vehicles, speed limits,
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ืจื›ื‘ ืžื ื•ืขื™ ื ื“ืจืฉ ืœื”ื™ื•ืช ืจืฉื•ื, ื”ื’ื‘ืœืช ืžื”ื™ืจื•ืช,
03:46
rules of the road,
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ื—ื•ืงื™ ืชื ื•ืขื”,
03:47
so that horses, pedestrians, could coexist with cars.
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ื›ื“ื™ ืฉื”ืกื•ืกื™ื, ื”ื•ืœื›ื™ ื”ืจื’ืœ, ื™ื•ื›ืœื• ืœื”ืชืงื™ื™ื ื™ื—ื“ ืขื ื”ืžื›ื•ื ื™ื•ืช.
03:52
It had to be backwards compatible.
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ื”ื—ื•ืงื™ื ื”ื™ื• ืฆืจื™ื›ื™ื ืœื”ื™ื•ืช ืžื•ืชืืžื™ื ืœืขื‘ืจ.
03:55
So a new invention had to basically fit advances from the past.
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ื›ืš ืฉื”ืžืฆืื” ื—ื“ืฉื” ืฆืจื™ื›ื” ืœืงืฉืจ ื‘ื™ืŸ ืงื™ื“ืžื” ืœืขื‘ืจ.
04:00
Similarly, five or ten years from now,
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ื‘ืื•ืคืŸ ื“ื•ืžื”, ื—ืžืฉ ืื• ืขืฉืจ ืฉื ื™ื ืžืขื›ืฉื™ื•,
04:02
we're going to see the same thing with self-driving cars --
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ืื ื—ื ื• ืขื•ืžื“ื™ื ืœืจืื•ืช ืืช ืื•ืชื• ื”ื“ื‘ืจ ืขื ืžื›ื•ื ื™ื•ืช ืฉื ื•ื”ื’ื•ืช ืขืฆืžืื™ืช-
ื‘ื“ื• ืงื™ื•ื ืขื ืžื›ื•ื ื™ื•ืช ื”ืžื•ื ืขื•ืช ืข"ื™ ื‘ืฉืจ ื•ื“ื.
04:05
coexisting with human-driven cars.
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04:07
The reason why this is important, is in 10 years,
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ื”ืกื™ื‘ื” ืœื›ืš ืฉื–ื” ื—ืฉื•ื‘, ื˜ืžื•ื ื” ื‘ื›ืš ืฉืชื•ืš ืขืฉืจ ืฉื ื™ื,
04:09
another thing is going to happen beyond drones and self-driving cars,
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ืžืฉื”ื• ืื—ืจ ืขื•ืžื“ ืœื”ืชืจื—ืฉ ืžืขื‘ืจ ืœืžื–ืœ"ื˜ื™ื ื•ืœืžื›ื•ื ื™ื•ืช ื‘ืขืœื•ืช ื ื”ื™ื’ื” ืขืฆืžืื™ืช,
04:12
but you're going to see the most valuable economy in the world --
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ืื‘ืœ ืืชื ืขื•ืžื“ื™ื ืœืจืื•ืช ืืช ื”ืžืฉืง ื”ื™ืงืจ ื‘ืขื•ืœื --
04:16
the largest economy in the world --
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ืืช ื”ืžืขืจืš ื”ื›ืœื›ืœื™ ื”ื’ื“ื•ืœ ืžื›ื•ืœื --
04:17
is going to be a country run by communists.
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ื™ื”ื™ื” ืžื“ื™ื ื” ืฉืžื ื•ื”ืœืช ืขืœ ื™ื“ื™ ืงื•ืžื•ื ื™ืกื˜ื™ื.
04:20
The Chinese seem to be very good at capitalism.
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ื ืจืื” ืฉื”ืกื™ื ื™ื ื˜ื•ื‘ื™ื ืžืื“ ื‘ืงืคื™ื˜ืœื™ื–ื.
04:24
And this is going to have fundamental problems
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ื•ื™ื”ื™ื• ืœื–ื” ื‘ืขื™ื•ืช ื™ืกื•ื“ื™ื•ืช
04:27
and present an identity crisis for the United States.
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ื•ื–ื” ื™ืฆื™ื’ ืžืฉื‘ืจ ื–ื”ื•ืช ืœืืจื”"ื‘.
04:31
Because for a long time,
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ื‘ื’ืœืœ ืฉืœืื•ืจืš ื–ืžืŸ,
04:33
free markets coincided with liberties such as free speech, free press,
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ื”ืฉื•ื•ืงื™ื ื”ื—ื•ืคืฉื™ื™ื ื”ืชืงื™ื™ืžื• ื‘ื“ ื‘ื‘ื“ ืขื ื—ื™ืจื•ื™ื•ืช, ื›ืžื• ื—ื•ืคืฉ ื”ื“ื™ื‘ื•ืจ, ื—ื•ืคืฉ ื”ืขื™ืชื•ื ื•ืช,
04:39
free religion.
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ื—ื•ืคืฉ ื”ื“ืช.
04:40
And all of a sudden, this equation is going to be decoupled.
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ื•ืคืชืื•ื, ื”ืžืฉื•ื•ืื” ื”ื–ื• ืขื•ืžื“ืช ืœื”ื™ืฉื‘ืจ.
04:44
And when it gets decoupled,
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ื•ื›ืฉื–ื” ื™ืงืจื”,
04:46
we might find that democracy, the multitude of voices,
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ืื ื—ื ื• ื ืžืฆื ืฉื”ื“ืžื•ืงืจื˜ื™ื”, ืจื™ื‘ื•ื™ ื”ื“ืขื•ืช,
04:49
actually impedes capitalism
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ืžืžืฉ ืžืขื›ื‘ื™ื ืืช ื”ืชืคืชื—ื•ืช ื”ืงืคื™ื˜ืœื™ื–ื.
04:52
because a state that does not have any pretense of limited government
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ื‘ื’ืœืœ ืฉืžื“ื™ื ื” ืฉืื™ื ื” ืœื” ื™ื•ืžืจื” ืฉืœ ื”ื’ื‘ืœืช ื”ืฉืœื˜ื•ืŸ
04:56
can very quickly mandate a regulatory framework for drones,
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ื™ื›ื•ืœื” ืžื”ืจ ืžืื“ ืœืชืช ืกืžื›ื•ืช ืœื”ืคืขื™ืœ ืžืกื’ืจืช ื—ื•ืงื™ืช ืœืžื–ืœื˜"ื™ื,
04:59
for electric cars, for self-driving cars,
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ืœืžื›ื•ื ื™ื•ืช ื—ืฉืžืœื™ื•ืช, ืœืžื›ื•ื ื™ื•ืช ืฉื ื•ื”ื’ื•ืช ืขืฆืžืื™ืช,
05:02
for any new innovation
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ืœื›ืœ ื—ื™ื“ื•ืฉ ื‘ืืฉืจ ื”ื•ื.
05:04
where they feel that they can leapfrog Western societies.
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ืฉื ื”ื ืžืจื’ื™ืฉื™ื ืฉื”ื ื™ื›ื•ืœื™ื ืœื–ื ืง ืžืขื‘ืจ ืœื—ื‘ืจื•ืช ื”ืžืขืจื‘ื™ื•ืช.
05:08
And this is a very unique thing in the American experience.
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ื•ื–ื” ื“ื‘ืจ ื™ื™ื—ื•ื“ื™ ืžืื“ ื‘ื ื™ืกื™ื•ืŸ ื”ืืžืจื™ืงืื™.
05:13
And this is why it's very important to think of American capitalism
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ื•ื–ื• ื”ืกื™ื‘ื” ืœื›ืš ืฉื–ื” ืžืื“ ื—ืฉื•ื‘ ืœื—ืฉื•ื‘ ืขืœ ื”ืงืคื™ื˜ืœื™ื–ื ื”ืืžืจื™ืงืื™
05:17
as an operating system and not as an ideology.
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ื›ืขืœ ืžืขืจื›ืช ื”ืคืขืœื” ื•ืœื ื›ืขืœ ืื™ื“ืื•ืœื•ื’ื™ื”.
05:20
Because when you think about it as an ideology,
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ืžื›ื™ื•ื•ืŸ ืฉื›ืฉืืชื ื—ื•ืฉื‘ื™ื ืขืœ ื›ืš ื›ืขืœ ืื™ื“ืื•ืœื•ื’ื™ื”,
05:22
you can have good politics make for very, very bad policy.
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ืชื”ื™ื” ืœื›ื ืคื•ืœื™ื˜ื™ืงื” ื˜ื•ื‘ื” ืฉื’ื•ืจืžืช ืœืžื“ื™ื ื™ื•ืช ืจืขื” ืžืื“.
05:28
That market outcomes and democratic voices
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ืชื•ืฆืื•ืช ื”ืฉื•ืง ื•ื”ืงื•ืœื•ืช ื”ื“ืžื•ืงืจื˜ื™ื™ื,
05:31
and battles for votes
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ื•ื”ืžืœื—ืžื” ืขืœ ื”ืงื•ืœื•ืช
05:33
can end up stifling progress.
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ื™ื›ื•ืœื™ื ื‘ืกื•ืคื• ืฉืœ ื“ื‘ืจ ืœื”ื—ื ื™ืง ื”ืชืงื“ืžื•ืช.
05:37
So over the next few years,
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ืื– ื‘ืžื”ืœืš ื”ืฉื ื™ื ื”ืงืจื•ื‘ื•ืช,
05:39
as this political cycle plays out,
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ื›ืฉื”ืžื—ื–ื•ืจ ื”ืคื•ืœื™ื˜ื™ ื”ื–ื” ืžืฉื—ืง,
05:41
you're going to see American democracy
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ืชืจืื• ื“ืžื•ืงืจื˜ื™ื” ืืžืจื™ืงืื™ืช
05:45
rise to meet the challenges that capitalism poses and modernity poses.
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ืžื’ื™ืขื” ืœืคื’ื•ืฉ ืืช ื”ืืชื’ืจื™ื ืฉืœ ื”ืงืคื™ื˜ืœื™ื–ื ื•ื”ืžื•ื“ืจื ื™ื•ืช.
05:50
And I ask policymakers to think about --
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ื•ืื ื™ ืžื‘ืงืฉ ืžืงื•ื‘ืขื™ ื”ืžื“ื™ื ื™ื•ืช ืœื—ืฉื•ื‘ ืขืœ --
05:55
decoupling ideology from economics,
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ื”ืคืจื“ื” ื‘ื™ืŸ ื”ืื™ื“ืื•ืœื•ื’ื™ื” ืœื›ืœื›ืœื”,
05:59
and think about how good policy can ultimately become good politics.
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ื•ืœื—ืฉื•ื‘ ืื™ืš ืžื“ื™ื ื™ื•ืช ื˜ื•ื‘ื” ืชื’ืจื•ื ืœื‘ืกื•ืฃ ืœืคื•ืœื™ื˜ื™ืงื” ื˜ื•ื‘ื”.
06:03
Thank you.
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ืชื•ื“ื” ืœื›ื.
06:05
(Applause)
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(ืชืฉื•ืื•ืช)
ืขืœ ืืชืจ ื–ื”

ืืชืจ ื–ื” ื™ืฆื™ื’ ื‘ืคื ื™ื›ื ืกืจื˜ื•ื ื™ YouTube ื”ืžื•ืขื™ืœื™ื ืœืœื™ืžื•ื“ ืื ื’ืœื™ืช. ืชื•ื›ืœื• ืœืจืื•ืช ืฉื™ืขื•ืจื™ ืื ื’ืœื™ืช ื”ืžื•ืขื‘ืจื™ื ืขืœ ื™ื“ื™ ืžื•ืจื™ื ืžื”ืฉื•ืจื” ื”ืจืืฉื•ื ื” ืžืจื—ื‘ื™ ื”ืขื•ืœื. ืœื—ืฅ ืคืขืžื™ื™ื ืขืœ ื”ื›ืชื•ื‘ื™ื•ืช ื‘ืื ื’ืœื™ืช ื”ืžื•ืฆื’ื•ืช ื‘ื›ืœ ื“ืฃ ื•ื™ื“ืื• ื›ื“ื™ ืœื”ืคืขื™ืœ ืืช ื”ืกืจื˜ื•ืŸ ืžืฉื. ื”ื›ืชื•ื‘ื™ื•ืช ื’ื•ืœืœื•ืช ื‘ืกื ื›ืจื•ืŸ ืขื ื”ืคืขืœืช ื”ื•ื•ื™ื“ืื•. ืื ื™ืฉ ืœืš ื”ืขืจื•ืช ืื• ื‘ืงืฉื•ืช, ืื ื ืฆื•ืจ ืื™ืชื ื• ืงืฉืจ ื‘ืืžืฆืขื•ืช ื˜ื•ืคืก ื™ืฆื™ืจืช ืงืฉืจ ื–ื”.

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