Economic Freedom Increases Human Welfare

Source: Town Hall
by Rainer Zitelmann

“In my book The Power of Capitalism I show that people’s lives are much better where there is more economic freedom. The population of South Korea are doing better than their neighbours across the border in North Korea; life was far better in the West Germany than it ever was in East Germany; and Chileans are better off than Venezuelans. The expansion of economic freedoms through free-market reforms – in China under Deng Xiaoping, in the UK under Margaret Thatcher and in the U.S. under Ronald Reagan – increased economic prosperity for the majority of citizens in each of these countries. There are two different ways to approach the question of whether it is more state intervention or greater market freedom that promotes people’s prosperity …” (05/11/24)