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Rainer Zitelmann: In Defense of Capitalism and against the Biden administration

The German writer talked to Voz Media about his new book 'In Defense of Capitalism' and warned that President Joe Biden wants to "abolish the free market model" in the U.S.

( Christian Camacho / Voz Media )

German writer Rainer Zitelmann recently spoke to Voz Media about his new book called In Defense of Capitalism. Zitelmann wants to help readers understand "that it is not capitalism that has failed, but rather a century of anti-capitalist experiments." He supports this statement with "the ten most common objections to capitalism."

During the conversation, Zitelmann stressed the importance of fighting the anti-capitalist trend that dominates the world and criticized the Biden administration's policies which, in his opinion, are trying to "transform the US into Europe":

Capitalism almost everywhere in the world is increasingly under attack.... I think Joe Biden's goal is for the United States to become Europe, and I think we in Europe are setting a bad example because we are going more and more down the path of the planned economy.

When discussing the current state of the nation's economy under the Biden administration's policies, Zitelmann argued, citing the Heritage Foundation's Index of Economic Freedom, that U.S. economic freedom is at its worst since 1995. He added that 16 European countries are currently financially "freer" than the US.

Biden uses climate change to do away with the free market

Zitelmann said that President Joe Biden is using "the pretext of fighting climate change to abolish the free market" and claimed that he wants to transform a country known for being capitalist into one with a "planned economy" model:

I think Joe Biden plans to do other things. They use the pretext of the fight against climate change to abolish the free market and move in the direction of a planned economy.

Zitelmann revealed that this trend is not only present in the US. He stated that more and more people in Western countries are giving the power of their finances to governments that intend to implement planned economies. He also stated that this economic model always "causes problems," since it involves politicians making decisions that affect the lives of citizens:

A planned economy never solved any problem in history. On the contrary, it has always caused problems in history. In other words, it is the politicians who decide.

The author argued that the capitalist model is the freest model out there since it gives entrepreneurs the power to choose what they want to produce and consumers the choice of what they want to buy:

The more economically free a country is, the better it is for the people and the environment. The most important characteristic of the free market is freedom. Everyone should have the possibility to have their own dreams.

A "pessimistic" future for the U.S. economy and hopes for a pro-free market candidate

The writer is a bit "pessimistic" about the future of the U.S. economy and emphasized the importance the upcoming elections will have on this issue. He stated that if there is no "pro-free market" presidential candidate, there will be "difficult" times ahead:

My prediction is negative, I am a bit pessimistic, it depends on the next elections (...) I hope there will be a pro-free market Republican candidate... otherwise I think there will be difficult times ahead.

Zitelmann warned about the economic problems facing the U.S.: "They have a very large government debt, that's crazy, they have too many regulations." In addition, he suggested that "many things have to change in the nation" and that these changes must be encouraged and taught in schools:

I think a lot of things have to change in the US.... Many young people do not share the values of older generations.