Politicians promise to protect us from life’s risks! But taking risks is one reason America is so prosperous. ———
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———— Economist Allison Schrager’s new book “Worth the Risk” says all this protection through government rules and regulations make us less safe and less prosperous. With too much protection, she says, “There is no prosperity, there is no growth.” Even tightrope walker Nik Wallenda agrees, saying what really scares him is not stunts like walking over a volcano, but “governmental rules and regulations.” Europe removes even more risks from its citizens’ lives and one result is their economy has fallen behind America’s. “Capitalism is brutal” Schrager says, “It doesn’t offer any guarantees … but you also have that promise of potential, of growth.” In the video above, we look at how risk makes our lives better and America more prosperous.
