Julius is the initiator of a project called Unleashing the Wealth of Nations and a resident entrepreneur at the MIT Media Lab in Cambridge, Massachusetts.
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Nations with free market economies generate more wealth and a higher standard of living for their citizens than nations that suppress the free market.
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Two centuries before Rand arrived on the scene, Adam Smith had already written The Wealth of Nations, a powerful treatise demonstrating why self-interest offers a more secure foundation for a rational society than a selfless dedication to the common good.
Mr. Ripert has had a long and distinguished diplomatic career with his Government related to the United Nations and brings to this challenging assignment a wealth of experience in the international fora and a solid track record in consensus building.
In The Wealth of Nations, Adam Smith considered free trade a great boon to the participating nations' economies, workers and consumers.
Made up of Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa -- these nations, some with sizable populations and others with a wealth of natural resources, could be the economic boomers of the next decade, according to John Bowler, director of Country Risk Service at the Economist Intelligence Unit.
What we have now is not capitalism but a bastardized version where our distribution of wealth and income is worse than in many Third World nations.
The Wealth of Nations, the original capitalist manifesto, proposes that market mechanisms are conducive to a prosperous society.
Exaggerated notions about globalization have not only led to a fear of it, they may have stymied its potential, particularly when it comes to sharing wealth with poorer nations.
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Compounding this folly, the Chancellor has also endorsed a proposed new "wealth tax" on assets, this in a country that is already one of the most heavily taxed of industrialized nations.
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