 In the South African context, we've got 42% unemployment on the expanded definition of 11 million people unemployed out of a population of about 58 million-ish, and the sort of solutions offered the whole time are more states, more welfare, nationalizing property and health care, that kind of thing. So I wanted to ask you about the South Africa, I mean, context is vital. So given South Africa's history of oppression, colonialism, apartheid, why is it not right or just to perhaps pursue some of those policies? Because some people got, you know, what they have now based on the color of their skin kind of thing. How does one deal with that sort of, that tension, I guess, as it were between welfareism versus free markets and people who say, well, apartheid was capitalism? Well, apartheid was not capitalism because if a part, if capitalism is the protection of individual rights, clearly a majority of South Africans' rights were not protected, indeed violated, en masse by the government. A part of it was no more capitalism than slavery was capitalism. Now it's true that there were parts of the economy, if you were white, that were kept relatively free, but as a system, it was anti-capitalist. Look, you can spend a lot of time trying to figure out, and to try to redistribute wealth from the wealth created through injustice over apartheid to the people who in injustice was committed against them. But I think it's much more effective and much more just and ultimately much more rewarding for everybody. If instead of focusing on the injustices of the past, we focus on not committing injustices moving into the future, instead of trying to equate people, what we try to do is create as many opportunities for wealth creation for South Africans as possible. So Black South Africans were clearly horrifically treated by apartheid. The solution to that is not to treat white South Africans horrifically. The solution to that is to treat all South Africans equally before the law, to treat all South Africans by protecting their individual rights, to accept that they all have equal rights and therefore need protection, and then allow capitalism to do what some people call its magic. Because where does wealth come from, where do jobs come from, how do people's lives actually improve? Wealth does not dramatically improve people's lives. On the contrary, it provides them with an incentive not to work, not to better themselves, not to try harder. It provides them with an incentive, in a sense, it provides them with an institutionalization of poverty when you don't have welfare. People start businesses, they find jobs, they work hard, they gain productive ability, they rise up in business, they make more money over time, their lives improve, they gain the self-esteem associated with having a job and putting food on the table, not living off of somebody else, and they have the potential to thrive. And it's up to them what happens. And if you think about where did jobs come from? Jobs come from entrepreneurs, jobs come from businesses growing, jobs come from an economy that's thriving and growing, jobs come from wealth creation. So what you want to create is an economy, what you want to create is a society in which there is ongoing, active, sustained wealth creation, a society in which entrepreneurs are starting, building businesses in which businesses, small businesses are striving to be mid-sized businesses and then striving to be big businesses. And that's how you grow employment, that's how you grow wealth, that's how people rise up. People's earnings don't rise up because the government says they should rise up. People's earnings ultimately can only rise when they are more productive. But how do you become more productive? By through investment, through investment in capital, through investment in education, through investment in your own ability and your own skill, through training, through practice, through knowledge. Well, what kind of society allows for all that to happen and encourages it and sustains it? Again, that's capitalism. When people are free, they invest in themselves. They pursue their own interests. When the economy is free, capitalists pour money into making workers more productive. Because the more productive the worker is, the worker's wages go up. But the return on capital goes up at the same time. And under capitalism and the freedom, entrepreneurs are constantly thinking of new ideas, new businesses, new opportunities, new ways to make money. But all the new ways to make money are job creators. So the only way to get to a situation where unemployment is the equivalent of zero, the only way to get to society where wealth and standard of living and quality of life and incomes are constantly growing is to allow the maximum amount of economic freedom. And again, all you have to do if you're South African is to look around the world and see what works and what doesn't. Why, how did Hong Kong become on a per capita GDP basis as rich as America in only 70 years? Well, because it adopted capitalist principles. How did even China go from Mao Zedong to a middle class of hundreds of millions of people? Because in spite of the authoritarianism, they embraced economic liberty in some parts of China and to some extent. And the beauty of capitalism is to the extent that you apply it, to the extent that you engage in freedom, to that extent, you succeed. China would be a lot richer today if it hadn't been so authoritarian and didn't have so much central planning. So if South Africa wants to get richer and wants to enable its citizens, black, white and everybody else, to be successful, successful economically, successful from a personal perspective in terms of self-esteem and confidence and wants confidence and ability to feed one's own family and to feed oneself and to thrive as an individual. If South African government cares about a prosperity and quality of life and standard of living, then it should do much the opposite of what it's doing today. It should commit itself to private property. It should commit itself to protecting individual rights. It should commit itself to liberating, liberating the economy, eliminating regulations, eliminating controls, eliminating taxes, simplifying and basically getting the money, the government out of the way. And I know South Africans. South Africans are incredibly entrepreneurial. They're incredibly, have the capacity to be great innovators, they have the capacity to start their own businesses at whatever level and whatever size they can. And the South African economy would thrive, would boom. If only we got the bureaucrats, the regulators, the controllers out of the way, out of the way. What we need today, what I call the new intellectual, would be any man or woman who is willing to think, meaning any man or woman who knows that man's life must be guided by reason, by the intellect, not by feelings, wishes, whims or mystic revelations. Any man or woman who values his life and who does not want to give in to today's cult of despair, cynicism and impotence and does not intend to give up the world to the dark ages and to the role of the collectivist brought. All right, before we go on, remind them, please like the show. We've got 163 live listeners right now, 30 likes. That should be at least 100. I figure at least 100 of you actually like the show. 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