Summary of Alan Greenspan & Adrian Wooldridge's Capitalism in America

Please note: This is a companion version & not the original book. Book Preview:

#1 The term colony evokes images of exploitation and marginalization. However, America was extremely fortunate in that it was blessed with rich resources and a relatively liberal regime.

#2 The Constitution created America’s unique democratic society, in which the majority could not trample on people’s rights to own private property, engage in trade, and keep the fruits of their labor.

#3 America was born in the American Revolution, but was still a subsistence economy. The country’s financial system was primitive compared with the mother country’s. Americans grew their own food, spun their own cloth, made their own clothes, and most tiresomely, made their own soap and candles from vats of boiled animal fat.

#4 Americans were prisoners of climate and ignorance. They did not have up-to-date information about what was happening in the world, and it took weeks for news to travel from one region to another.

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