Dave Ramsey proudly declared, “I am a capitalist pig. I love capitalism,” in a recent episode of his “EntreLeadership” podcast.
The personal finance expert slammed younger generations for criticizing the free market, taking aim at TikTok creators and college professors who he believes are pushing a broken narrative.
Ramsey Defends Capitalism, Mocks Anti-Business Sentiment
“Capitalism and the free enterprise system is the best system on planet Earth,” he said. “Socialism sucks because eventually you run out of taking other people’s money away from them to give it to people who don’t do stuff.”
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He continued, “Communism sucks because it puts four people in the whole country rich and everybody else poor and it doesn’t work.”
Ramsey, 65, brushed off the criticism he often gets for being a self-proclaimed boomer. He also didn't hold back when referring to critics of capitalism on social media. “At this time in human history,” he said, “It amazes me the few times that I turn on social media and look, that some of these little turds on TikTok are out there saying, ‘America is dead. Capitalism is awful. We need a universal wage.'”
Technology Has Flattened The Playing Field
Ramsey spent part of the episode contrasting the high costs and long timelines of launching his early products on VHS tapes with today's near-zero-cost digital content distribution.
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“We were putting our lessons on these things called VHS tapes,” he said. “I had to pay someone tens of thousands of dollars to go into a studio… It costs so stinking much money to produce a four-hour lesson.”
Now, he said, the barrier to entry is virtually gone. “The camera is 2,500 bucks. The studio is anywhere I want it to be. The editing is done by the time we finish shooting… We pop it on an email and it’s in your inbox a day and a half after we shot it.”
Ramsey called today “the best time in the history of man to start and run a business,” adding, “If you can’t start and run a business and make a profit now, there is no time in human history, no system in human history that you would have been successful.”
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Stop Complaining And Start Producing
The episode ended with a fiery call to action. “The last thing you need to do is be dancing around some bush whining about capitalism right now,” he said. “What you need to do is get off your assets and go to work.”
He urged listeners to stop blaming the system and start creating value. “You need to get up, leave the cave, and digitally make something happen instantaneously and deliver a product to someone that helps them and serves them and solves a problem for them.”
Reflecting on his legacy, Ramsey noted that he started his company from a card table and grew it to $300 million in revenue. He said the next generation of leaders at his company should be aiming for $3 billion.
His closing message was blunt: “100% of the people that don’t take the shot don’t score… If you’re sitting on your mama’s couch in your mama’s basement whining about capitalism, you ain’t scoring on nothing.”
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