In so doing, Barack Obama also discloses for us again his arrant economic-political illiteracy.
Straight from the horse’s mouth — and it doesn’t get any plainer than this:
One would be wise to note here that there’s never in world history been a system of total unregulated laissez-faire capitalism, but the societies that have come the closest have prospered the most.
In fact, there’s an indisputable correlation between freedom and flourishing, which is why Hong Kong, a barren rock in the middle of the ocean, with virtually no resources at all, grew to such astronomical proportions in so short a time during the 20th century, and it’s also why America became the greatest civilization in all of human history in less than 200 years.