The United States is envied around the world for its unparalleled wealth. But its riches would not have been possible without what Alan Greenspan has called America’s “unique tolerance” for the messy effects of capitalism’s creative destruction. What is so special about our brand of capitalism that generations of Americans have been willing to endure so much wrenching change in its service? What moments in history have shaped America’s complicated relationship with capitalism? And how have Americans tried to balance our tolerance of economic inequality with our nation’s long-stated principles of fairness and justice? Economist political editor Adrian Wooldridge, co-author of Capitalism in America: A History, visits Zócalo to examine America’s enduring affection for an economic system that produces so much pain alongside its gains.
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The Takeaway
America Takes a Capitalist Licking and Keeps on Ticking
The U.S. Owes Its Prosperity, in Part, to Its Tolerance for Bad Times, Says The Economist’s Adrian Wooldridge
The United States enjoys a special place atop the global economic heap, driven in large by Americans’ willingness to embrace change—even when it hurts. But the country’s remarkable run could …