'Capitalism is destroying the entire world': CSPAN Gen Z caller clearly confused or brainwashed

On Saturday morning while curiously listening to callers to CSPAN's Open Forum on Washington Journal, one call made me wonder what and how some people think,

The caller, a young man, said (starting at the 5:28 mark): "Today is my birthday., I'm turning 24. I'm part of Gen Z and to echo a earlier caller, my generation is feeling a pretty big sense of impending doom because all the old people in power want to destroy the world before they're all gone. Because people are starting to wake up and see how capitalism is destroying the entire world. There will be a breaking point soon." 

Capitalism is destroying the entire world? This is what they are teaching our youth in high schools and colleges?

Well the numbers don't really add up to confirm this man's statement. Capitalism has done wonders in improving lives around the world.

In 1820, over 90 percent of the world lived in extreme poverty. In 1990 around 30 percent of the world lived in extreme poverty. Today, less than 10 percent (9.2%) of the world's population lives in extreme poverty. 

In the last quarter century, more than 1.25 billion people escaped extreme poverty - that equates to over 138,000 people being lifted out of poverty every day.

In fact, the poorest of the poor have seen the most improvement.

An article by Alexander Hammond outlines some of the specific improvements:

Since its economic liberalization reforms in 1991, India’s average income has increased by 7.5 percent per year. That means that average income has more than tripled over the last quarter century. As wealth increased, the poverty rate in India declined by almost 24 percent. But most significantly, for the Dalits – the poorest and lowest caste in Indian society – the poverty rate during this period declined even faster, by 31 percent. That means that in the nation that has by far the largest number of people in extreme poverty, it is the people at the very bottom of the social strata who are getting richer faster.

A similar trend can be seen in Nigeria. Since the new millennium, gross domestic income per capita has increased by over 800 percent, from $270 to over $2,450. There is much work to be done, but this level of progress shows that even in the poorest countries, the speed of economic growth is encouraging.

And this is attributed to countries embracing freedom, free markets and "capitalism", not to socialism, state-controlled or central planning.

It is allowing us to live longer, making us more equal, feeding us despite population growth and so much more.

The key question all concerned human beings must answer is this: which institution, the “government” or the “market” (an intangible consisting of freely acting individuals or groups), is better equipped to solve the problems confronting society today? Which kind of society, the command economy or the market economy, will generate the capital wealth necessary to eliminate social ills?

The answer should be self-evident.

The statement that "capitalism" is making the world worse is the most pernicious of misunderstandings and shame on people teaching the young people that it is so.