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Chris Demuth

Sep 22, 2026

1:40
One
1:41
way to get into that is to notice that in the 1760s and 70s, Americans had the highest income of any large nation on the planet.
1:56
They'd been here for just 150 years.
1:58
It had been a raw wilderness.
2:00
And they had built through many innovations in business.
2:05
They were the first to use paper money, backed not by gold but by land, to stimulate the economy.
2:14
And they'd done it in some colonies poorly, in some colonies well.

13 MINS LATER

15:14
But I'm not saying that's not a fair criticism, but talk a little about that.

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