Thoughtful Money with Adam Taggart · Tuesday, September 22, 2026
Jonathan Wellum argues that true free-market capitalism, with minimal necessary regulation, is the path to prosperity, contrasting it with socialism's failure to generate wealth. He uses Margaret Thatcher's quote about socialism running out of other people's money and criticizes 'crony capitalism' where select players benefit unfairly.
“I just feel from the history of economics is very clear. It just does not work. And capitalism, especially true form, free market capitalism, unfetted, some important regulation, but as little as you need to get the job done and then get the government out of the way is the way to get it done.”
“I realize we do not have that right now in the West as much as we should. But the solution is fixing what's broken about capitalism, not abandoning it for socialism.”
“And the famous line of Margaret Thatcher's with socialism is, hey, it works great until you run out of other people's money. Right. And we're already seeing.”
“We want free markets. You don't want crony capitalism, and that's been part of the problem over the last couple of decades.”