Why Capitalism Matters and Why We Need to Protect It

Bill Clinton got it almost right when he said, “it’s the economy stupid.” But it’s more than that. It might be more accurate to say, it's capitalism, stupid. The system that took thirteen disparate colonies, and in 400 years became the greatest economic engine on the planet.

How this happened, why it happened, is not an accident. But the results of some very specific events, decisions, and attitudes. Equality true is that if we are not careful, it may not be forever

In today's world, we either keep up, or we don't. Just as we stole our model from Great Britain, others are closing in on us. Today we have 5% of the world's population, 20% of the world's patents and 25% of the world economy. Going forward that may not always be the case.

To the extent that what is past is prologue, it’s worth taking a look at the history of capitalism in America, to see if we can indeed keep it going. Taking us on this historical journey is Economist journalist and columnist Adrian Wooldridge, the co-author, with Alan Greenspan, of Capitalism in America: A History.

My conversation with Adrian Wooldridge: