Video: Prager U on why America is so rich

Why is America the wealthiest nation in the world? Is it because of our natural resources? Our geography? Our universities?

Actually, the biggest reason is… businessmen looking to turn a profit. As Burt Folsom, author and professor of history at Hillsdale College, shows with three fascinating examples of American industry, the government has no idea how to create wealth — only private citizens and companies can do that.

Watch the video below and learn a great lesson in both history and economics.

LU Staff

LU Staff

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