YOUTUBE Capitalism | Johan Norberg’s New and Improved AdminJuly 18, 20230103 views Even its fiercest enemies, Karl Marx and Friedrich Engels, admitted that it unleashed more wealth than all preceding generations put together. In this episode of Johan Norberg’s New and Improved, Norberg describes the historical impact of capitalism and its relation to consent. As F. A. Hayek explained, capitalism emerged over thousands of years, from small capitalist acts between consenting adults in borderlands, marketplaces, and independent cities. Traders, entrepreneurs, and moneylenders found ways of making money by giving others things they wanted. By the early 19th century, most of the Western world embraced capitalist ideas and saw a burst of prosperity. In capitalist countries, incomes have increased almost 3,000% since 1820. Extreme poverty declined from 80-90% of the global population to 8-9% today. SUGGESTED READING Deirdre McCloskey, Bourgeois Equality: How Ideas, Not Capital or Institutions, Enriched the World Stephen Davies, The Wealth Explosion: The Nature and Origins of Modernity Johan Norberg, Charles Barnett III & Phil Miller, Open: The Story of Human Progress Joel Mokyr, The Lever of Riches: Technological Creativity and Economic Progress * * * * * * * * * * Learn more about Johan Norberg’s New and Improved and sign up to receive series updates at https://www.freetochoosenetwork.org/newandimproved/. Follow Johan Norberg on Twitter @JohanKNorberg Tweets by johanknorberg Johan Norberg is an author, lecturer, and documentary filmmaker, born in Sweden. He is Executive Editor at Free To Choose Media as well as a Senior Fellow at the Cato Institute in Washington D.C. and the European Centre for International Political Economy in Brussels. He received his M. A. in the History of Ideas from the University of Stockholm. * * * * * * * * * * Learn more about Free To Choose Media: https://freetochoosemedia.org/ Shop for related products: https://shop.freetochoosenetwork.org/ Stay Connected with Free To Choose Media Facebook: https://www.facebook.com/FreeToChooseNetwork Twitter (@FreeToChooseNet): https://www.twitter.com/FreeToChooseNet Instagram (@freetochoosenetwork): https://www.instagram.com/freetochoosenetwork/ LinkedIn: https://www.linkedin.com/company/free-to-choose-network #capitalism #hayek #economics #capitalist #freetochoosenetwork #newandimproved source