Government, Economic Growth, and Speculative Investing with Peter Thiel

In this Uncommon Knowledge interview from November 24, 2008, Thiel argues that a book published in France in 1968, Le Defi Americain (The American Challenge), has a lot to say to us in 2008, including why the United States has failed to rise to the heights predicted by its author, J. J. Servan-Schreiber. In explaining what’s wrong with the US economy, Thiel points out that, although we have benefited from growth that is both extensive (e.g., free trade) and intensive (e.g., technology), we have not featured enough of each. He asserts that the credit crisis of 2008 had nothing to do with the failings of the free market but rather is a by-product of government entanglement, nurtured by the motors of economic growth, working less well than expected. (38:56)