The Reason Interview With Nick Gillespie Johan Norberg: Why We Need a Capitalist Manifesto
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Nov 1, 2023 Swedish historian Johan Norberg discusses how economic globalization, political liberalization, and cultural freedom have improved living standards, debunking misconceptions about libertarian values. He addresses China's economic growth, the benefits of free trade and immigration, the decline in workforce participation among men, complexities of welfare systems, perceptions of China as a threat, the loneliness epidemic, combating pessimism, and finding meaning in capitalist societies.
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Reversed Criticisms of Capitalism
- Critics blamed global capitalism for problems in developing nations, arguing it only benefited the West.
- Ironically, similar arguments now arise, but with concerns about the West losing out while developing nations prosper.
Improved Living Standards
- Despite global crises, living standards are improving, with extreme poverty decreasing daily.
- A third of all wealth ever created was generated in the last 20 years, and child mortality has significantly decreased.
Myrdal's Miscalculation
- Gunnar Myrdal mistakenly predicted Africa's economic dominance over Asia in the 1960s.
- Asia's success stemmed from integrating into the global economy and attracting foreign investment, unlike resource-rich Africa.