Capitalism is widely misunderstood even as we enjoy the riches of a capitalist system. Today, I have Dr Michael Munger on the show to explain what exactly a capitalist system is and how to understand it using just three principles. We get into the enormous benefits of capitalism and of course the 100% rate of failure that socialism has. Find my guest at www.michaelmunger.com Find his article that we discuss here: https://www.aier.org/article/capitalism-three-principles

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