Nice vid, but a huge waste of bandwidth. The answers to silly questions like how can socialist societies be so "rich" (per capita) is because, get ready... "empirical data itself is insufficient to describe economics". His argument, built on stats, is a house of cards.
Contra principia negantem non est disputandum (Debate is fruitless when you don't agree on common rules, facts, presuppositions.)
Paper money is not a good measure of wealth (e.g. Bernie Madoff, Howard Huges, Robin WIlliams, etc). Real wealth is being able to pursue things like a gyroplane, religion, free speech, the love of your life etc without someone persecuting or forcing you and without precluding anyone else from doing the same.
Individual liberty and personal responsibility is
real wealth. Keep an open mind.
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.--That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed
Good luck with your education.