In this episode of New Ideal Live, Agustina Vergara Cid and Nikos Sotirakopoulos challenge Robert Reich’s unjust crusade against billionaires. Agustina and Nikos unpack the pernicious motivations behind the attacks against successful billionaire producers and give an impassioned moral defense of their right to the wealth they have created.

Among the topics covered:

How widespread the attacks on the rich are in Western society;

How the ‘wage-theft’ argument is based on a false, Marxist view of wealth;

How attacks on billionaires conflate economic with political power;

How wealth is a creation of the individual, not of exploitation or ‘society’;

The anti-profit mentality is driven by hatred of successful producers;

Why morally defending billionaires and their wealth is an act of justice.

Mentioned in this podcast and relevant to the discussion is Ayn Rand’s lecture “America’s Persecuted Minority: Big Business,” available on ARI Campus and as an essay in Capitalism: The Unknown Ideal, and Agustina Vergara Cid’s op-ed in the Orange Country Register “Why I admire the GOATs of the business world.”

The podcast was recorded on April 14, 2023. Listen to the discussion below. Listen and subscribe from your mobile device on Apple Podcasts, Google Podcasts, Spotify or Stitcher. Watch archived podcasts here.

https://www.youtube.com/watch?v=GJ_WIeM8NZs

Podcast audio: