The True Road to Greater Wealth

Heading into the 2020 election, some politicians have proposed socialist policies, but we need to look at other countries for a dose of reality.  [Browser View]( [Liberty Through Wealth]( The True Road to Greater National and Personal Wealth Alexander Green, Chief Investment Strategist, The Oxford Club  Heading into the 2020 election, some politicians have proposed socialist-leaning policies to combat economic inequality.  However, as Alexander Green explains, we need to look at other countries for a dose of reality about these policies and whether they actually work.  [Bill O'Reilly Did What?!?]( [Bill O'Reilly]( Bill O'Reilly is no stranger to controversy. The mainstream media LOVES bashing him. And they might just have a field day with this. Because Bill is releasing [his most controversial project]( yet. [See what it's all about right here.](  [Alexander Green]  I've [mentioned here before]( that I have a younger brother who is a committed Marxist. He has lived on various communes for more than 40 years - and believes that capitalism is all about greed, selfishness and exploitation. He much prefers the communist ideal. If you point out the abject failure of economies like the former Soviet Union, pre-capitalist China or today's North Korea, he has a ready retort. He doesn't favor "that kind of communism." I hear something similar when I talk to self-described socialists about the disaster of the Cuban and Venezuelan economies. They don't favor "that kind of socialism." No, they point to the Nordic or Scandinavian model. It's true that Norway, Denmark and Sweden have productive economies that generate decent incomes for their workers and raise enough tax revenue to pay for widespread social benefits. Yet these same countries have been retreating from socialist policies for years. They have cut taxes, reduced regulations and strengthened markets. In fact, four years ago, the prime minister of Denmark felt compelled to set the record straight. Speaking at Harvard's Kennedy School of Government, Løkke Rasmussen said...  I know that some people in the U.S. associate the Nordic model with some sort of socialism. Therefore, I would like to make one thing clear. Denmark is far from a socialist planned economy. Denmark is a market economy.  Was this heresy? Not to people who know their history. The Nordic countries were economically successful before they instituted cradle-to-grave welfare states. Norway, in particular, is blessed with tremendous natural resources. (When socialists argue that the U.S. should be more like Norway, they are essentially wishing that we were a small country sitting on a big pile of oil.) When socialist programs began - inevitably - to crimp economic growth and standards of living, the Scandinavian nations were smart enough to move away from them.  ["Steal" This Book Now - We'll Help You...]( Bloomberg Radio host Carol Massar said live - on the air - that her co-workers were literally "trying to steal" her hardcover copy of an Amazon No. 1 bestselling book off her desk. "Everybody wanted the book!" she said. [HURRY! We've got an exclusive link so you can claim a free copy of the hardcover right here!](  For example, none of them have minimum wage laws. Workers are paid based on the economic value they provide, not on what the government deems "fair." Norway and Sweden do not have [estate taxes](. (They found them intrusive, hard to implement and poor sources of revenue. Same as here.) And rather than restrict business formation and expansion with suffocating red tape, Denmark, Sweden and Norway rank among the World Bank's top 10 easiest countries to do business in. Sweden even has complete school choice. It uses a model that free market economist Milton Friedman endorsed here. Instead of running a public education monopoly, the Swedish government provides families with vouchers for each child. Those vouchers can be used to attend private schools, public schools or charter schools. (What a radical idea... putting school choice in the hands of parents rather than teachers unions.) However, the Nordic countries have not moved far enough from socialist practices, at least not yet. As I pointed out [in an earlier column](, citizens of these countries pay far higher taxes than Americans and have lower incomes and smaller household net worth. Yet some - my brother included - call greater economic equality progress, even if that means everyone has less. It's worth pointing out that the U.S. tops Scandinavian countries in other respects as well. For example, 14.6% of working women hold management positions in the U.S. In Norway, Sweden, Finland and Denmark, between 1% and 4.6% of working women are managers, according to the Cato Institute. Given the superiority of our capitalist system, it's no surprise that Americans have a stronger economy, higher incomes and vastly greater household assets. Innovation, hard work and capital markets create wealth. Government merely regulates and redistributes it. So let's have a dose of realism. [No politician running for office]( - and peddling a socialist utopia - can save us the time and trouble of actually striving. But for those who make a habit of [learning, working, saving and investing](, wealth and prosperity are virtually assured. Good investing, Alex P.S. I recently discussed some common misperceptions about economic inequality with Bill O'Reilly during [The Great American Wealth Project](. [Click here]( to watch and learn how you can secure your financial future and build a seven-figure retirement. [Leave a Comment](  [Facebook]( [Twitter]( [share](mailto:?subject=A%20great%20piece%20from%20Liberty%20Through%20Wealth...&body=From%20Liberty%20Through%20Wealth:%0D%0A%0D%0A Heading%20into%20the%202020%20election,%20some%20politicians%20have%20proposed%20socialist%20policies,%20but%20we%20need%20to%20look%20at%20other%20countries%20for%20a%20dose%20of%20reality.%0A%0D ?src=shared)  About Alex  Alexander Green is the Chief Investment Strategist of The Oxford Club. He heads Liberty Through Wealth, [The Oxford Communiqué](, The Insider Alert, The Momentum Alert and The True Value Alert. Alex is also the author of [four national bestsellers](.  [The Time to Invest in 5G Is NOW]( [Happy Woman Holding Phone](AT&T has just become the first carrier to offer 5G coverage. Sprint's 5G network is live in Phoenix, New York City, Washington, D.C., and Los Angeles. T-Mobile has flipped the 5G switch in six cities... And Verizon has launched its 5G network in 13 cities. Nearly a decade in the making, 5G is finally here... And just ONE stock is your No. 1 chance to profit from the 5G revolution. [Details here...](  More From Liberty Through Wealth  [Red Queen and Alice]( [What the Red Queen Knows About Hedge Funds]( By Nicholas Vardy Hedge funds used to rule the market, providing great returns and lower risks. So why can't the smart investment strategies beat the market anymore? [Skousen and Schwab]( [Invest in Stocks or Start a Business? Talk to Chuck!]( By Mark Skousen What's the secret of wealth, starting your own business or investing in stocks? Contributor Mark Skousen sat down with Charles Schwab himself to find out. [Chinese Street]( [Don't Buy Into China's Bull]( By Nicholas Vardy There are several schools of thought on where China will end up in terms of global wealth, but one thing is for certain: Don't buy the China bull. 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