Capitalism is not the Problem, but the Solution (Simultaneous Translation)
Dr. Dr. Rainer Zitelmann
„The market has failed, we need more state“ – this is what politicians, media and intellectuals in particular have been saying since the outbreak of the financial crisis. Dr. Dr. Zitelmann represents the counterthesis: more capitalism is good for the people. In countries where the state loses influence and people trust the market more, prosperity increases and poverty decreases. When capitalism emerged about 200 years ago, 90 percent of the world’s population lived in extreme poverty; today it is only 10 percent. Half of this decline has occurred in the past 35 years. The greatest danger to our prosperity is that these lessons of history will be forgotten.