IEA Conversations

The Power of Capitalism

May 2, 2019

"The market has failed, we need more government intervention" - that's the mantra politicians, the media and intellectuals have been reiterating constantly ever since the outbreak of the 2008 financial crisis.

By taking the reader on a journey across continents and through recent history, author Rainer Zitelmann disproves this call for greater government intervention and demonstrates that capitalism matters more than ever. The author provides compelling evidence from across the world that capitalism has been the solution to a number of massive problems. He compares developments in West and East Germany, North and South Korea, capitalist Chile v. Socialist Venezuela, and analyses the extraordinary economic rise of China. For many people, "capitalism" is a dirty word. This book provides a timely reminder of capitalism's power is enabling growth and prosperity and is alleviating poverty.

Dr Kristian Niemietz joined Dr Rainer Zitelmann to discuss the 'Power of Capitalism'.