Prager University: What Creates Wealth?

"We teach what isn't taught." - Dennis Prager

The Unites States created the most successful economic system for the majority of its citizens in the history of the world.  This is not to say our system is perfect, nor does everyone succeed...But more people in the U.S. have a chance to succeed than anywhere else - this is why more immigrants come to the U.S. than anywhere else.  They know it is truly the 'Land of Opportunity.'

The key to this success is 'Freedom' - in all of its forms...Freedom leads to knowledge and the opportunity to put that knowledge into action - action which creates wealth.  Not just wealth for a few, but wealth for those participating in the American system.

But we must have as much freedom as possible.  Freedom to learn, innovate, succeed, and maybe the most important variable is the freedom to fail, because out of failure often comes new innovation...In order to have all of these variables we need the government to let the people flourish - instead of using their power to 'protect us from ourselves.'  Until recent times, Americans have never wanted security over opportunity.  Unfortunately, trading security for opportunity has created a new system of dependence - a system which is much crueler than one where people have the opportunity to succeed and fail - and to pick themselves up after failing rather than falling into a state of despondence and dependence on government.

This semester of Prager University is presented by: George Gilder

"If freedom promotes knowledge and innovation, which leads to economic growth, why don't all people and governments embrace it?" - G.G.

"Because it's an economy of mind, the future can change as fast as minds can change.  Whenever intrusive government retreats, knowledge expands - and new prosperity follows." - G.G.