economy. and this is, you know what you see also in the united states with what your biden does with this green new deal. it s only another word for planned economy. they don t call it a planned economy. but, in reality, it is a planned economy. take this. it s very important to understand the difference between a free market economy and the planned economy is in a free market economy, entrepreneurs decide what to produce in the end it s consumers choice. in a planned economy, politicians and government officials decide what is what is. brian: seeing that now $600 million for environmental cause, $1 trillion here. next things you know americans can t get control of any of its money and lose that entrepreneurial spirit. you break it down brilliantly in your book and wall street journal editorial. thank you so much rainer. we appreciate it. back in a moment.
historian and author of in defense of capitalism rainer zitelmann. how can we look back and say that is synonymous with american success. of course this is the story not only of success in the united states but all over the world. remember 200 years ago, before capitalism, 90% of the worldwide population lived in extreme poverty. 90%. today it s less than 9%. so i think he was right. economic growth is the best recipe especially to fight against poverty. brian: capitalists are getting a bad wrap. capitalism and smith s theory and morks americans theory like me believe that s the most compassionate thing you can do to the poor give them an opportunity to be rich. that didn t exist before adam smith s wealth of nations, correct? absolutely. you know, you see every day also
Larry Kudlow pays tribute Adam Smith, the founder of free-market capitalism, on his birthday and explains how his theories could still solves the United States' economic woes today.
AP – If you’ve ever scrolled through social media posts only to be gripped with envy when you see a friend posing in front of their beautiful house or enjoying themselves at a luxurious resort, then you understand how easy it is to want what other people have. Financial envy is real, and sometimes it […]