Q: There’s a chapter in your book that breaks down attitudes about capitalism by country. But let’s first talk globally. What is the state of capitalism today?

A: I think it’s under attack almost everywhere in the world. When you compare the situation in the 1980s and 1990s with today it’s a huge difference. In the 80s we had Ronald Reagan and Margaret Thatcher. We shouldn’t forget Deng Xiaoping in China, he was very important. We had pro market reforms in Vietnam and Sweden and many other countries.

Today the situation is completely different. I read the last index of economic freedom from the Heritage Foundation. The US has the worst ranking since it started in 1995. There are sixteen European countries more capitalist than the US. The UK has its worst ranking ever. China has its worst ranking ever.

You see it everywhere. I don’t have to tell you about the United States. But in Europe we are heading the direction of a planned economy. It’s a total disaster right now. In China, we had these great economic reforms in the 1980s that made them so successful. Xi Jinping is now going back into the direction of more state intervention. In Latin America it’s much the same, right now in Chile, for example. One of the few exceptions, as I’ve noted, is Vietnam.