Comments by "" (@TentaclePentacle) on "Ayn Rand's Philosophy on Helping the Poor (Pt. 3) | Yaron Brook | POLITICS | Rubin Report" video.
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These days the more I hear the left talk the more right I become. I can't stand the left anymore, but then Dave allow the right to speak, an offer up their sober views. After listening to this guy's idea, it was enjoyable, it makes me think, but after all he said, he just reminded me why I'm on the left.
There is a problem with this guy's view. Charity is the safety net? But according to his world view, everyone should act on their own self interest. So if everyone is acting on self interest why should I donate to charity, how dose donating to charity help me? This whole charity being the safety net is a net full of holes, it will not catch everyone that falls.
History remembers, before deposit insurance banks would fail, and people would lose their money. Some bank manage could run off with all the money and the depositors would lose. Some one spreads a rumor that this bank is going under, people would line up at the teller and demand their money, there would be a massive withdraw, and even if the bank was healthy a mere rumor of it being unhealthy would cause the bank to fail. Those cases have happened in the past. Those are the reasons why deposit insurance was introduced.
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