As I have repeatedly argued, the one good idea from the hedgehog always wins the race against the many small ideas of the fox.
This one great idea is the global spread of free market capitalism.
It is producing a record amount of new billionaires around the world, according to the Forbes magazine list of billionaires published yesterday. There are now 946 billionaires circulating the globe, up more than a 150 from last year.
In the words of Forbes editor-in-chief Steve Forbes:
“This growth in the billionaires list is a mere reflection of a dynamic global economy. More people are better off on this Earth than ever before…This is the richest year in human history.”
Mr. Forbes will be joining me tonight on Kudlow & Company to discuss this one great idea which is unleashing unprecedented wealth in all corners of the world.