Wealth for Everyone: The Greatness of Capitalism Explained

On April 25, 2024, Carol Baker, Marla Fernandez, Rick Rome, Greg Morrissey, Bennett Rutledge, Marshall Dawson, Dave Walden, Christie Whaley, Karen Levine, and Lorne Levy joined the show. In-studio co-host for Hour 1, Carol Baker facilitates discussions on capitalism and introduces Liberty Toastmaster callers while offering insights on Colorado legislation themes First-generation American Marla Fernandez argues that the left has perverted the term capitalism, exploiting widespread economic illiteracy to reshape public opinion against free markets Rick Rome presents.

Capitalism and Economic Literacy

Start listening at 29:30 – Hour 1

Marla Fernandez, a first-generation American and Liberty Toastmaster, opens the discussion by challenging how the term “capitalism” has been intellectually perverted by the left. She notes that the Founding Fathers envisioned laissez-faire economics with free exchange of goods and services backed by reliable money. Economic illiteracy in the general public has allowed opponents to reshape public opinion against free markets, painting capitalism as materialistic and selfish rather than the engine of prosperity it truly represents.

“Capitalism, the way we use it today, is the left way of perverting the concept of economics. Because today most people, the knowledge base of most people in discussing economics is inadequate.”

Marla Fernandez, Liberty Toastmasters

The Circular Nature of Political Extremes

Start listening at 31:31 – Hour 1

Rick Rome, an experienced Liberty Toastmaster, recalls his high school civics education when teachers presented socioeconomic systems fairly and balanced. He offers a striking visual metaphor: rather than a straight line between socialism on the left and fascism on the right, the political spectrum forms a circle where extremes stand back-to-back, unable to see each other yet occupying the same totalitarian ground. Capitalism, he argues, sits on the opposite side of that circle, representing balance and results-driven policy.

“No system has done more to defeat poverty. If you had to be poor in the world, anywhere in the world, the United States is where people come.”

Rick Rome, Liberty Toastmasters

Biblical Wisdom on Budgets and Stewardship

Start listening at 34:43 – Hour 1

Greg Morrissey connects capitalism to personal responsibility through the lens of budgeting. He argues that individuals and nations alike must live within their means, citing the 14th Amendment’s provisions on public debt and drawing parallels to biblical teachings in Luke chapter 16 about faithful stewardship. Morrissey advocates for financial literacy programs in Colorado high schools to prepare students for economic realities before they enter the workforce.

“Everyone who wants to get ahead in the world needs to have a budget. And our nation, up right at the top there, needs to have an ideal of a budget.”

Greg Morrissey, Liberty Toastmasters

The Rule of 72 and Consumer Protection

Start listening at 37:45 – Hour 1

Bennett Rutledge, a returning Liberty Toastmaster, offers practical financial wisdom through the Rule of 72, a Renaissance-era mathematical tool that reveals how long it takes to double money at various interest rates. By dividing 72 by the interest rate, consumers can quickly understand the true cost of credit. At 18 percent interest, creditors double their money in just four years, he explains, arming listeners with knowledge to combat predatory lending practices that some might call legalized theft.

“The rule of 72 is just a way to tell how long it will take to double your money at a given interest rate. You simply divide the number 72 by the interest rate.”

Bennett Rutledge, Liberty Toastmasters

Capitalism as the Mind’s Liberation

Start listening at 45:38 – Hour 1

Marshall Dawson, who is running for Congress in Colorado’s CD2, traces capitalism’s etymology to the Latin word “kaput,” meaning head or mind. This linguistic insight reveals capitalism’s true nature: a system that liberates human creativity and collaboration. Those who would destroy capitalism, Dawson argues, seek to decapitate human potential by removing the role of the mind. The free market’s voluntary nature stands in stark contrast to systems built on force and coercion.

“The root of the word capitalism is a Latin word, it’s kaput, which means the head. And if we take that a step further, that’s the mind. The thing that I especially like about capitalism is it’s voluntary.”

Marshall Dawson, Congressional Candidate CD2

The Moral Case for Free Markets

Start listening at 48:10 – Hour 1

Dave Walden delivers a passionate historical analysis of why 99.999% of humanity lived in squalor and tyranny for millennia until just a few hundred years ago. The answer lies in Western civilization’s embrace of individual rights, culminating in America’s founding. He challenges fellow liberty advocates to stop fighting capitalism on utilitarian grounds alone and instead make the moral case: capitalism is virtuous because it allows human beings to live freely and achieve their dreams.

“The fight for capitalism is not because of its productive efficiency and efficacy, which it demonstrates over and over again. The fight is a moral one, because capitalism is somehow thought to be evil and bad and no good. And that is the battle that must be fought.”

Dave Walden, Liberty Toastmasters

Free Markets as the Antidote to Racism

Start listening at 53:04 – Hour 1

Christie Whaley shares a personal story from 1960s Little Rock, Arkansas, where her mother chose a Black dermatologist over white competitors, reasoning that he must have overcome greater obstacles to earn his credentials. This anecdote illustrates how unfettered free markets naturally reduce racism by incentivizing consumers to seek the best regardless of race, sex, or faith. When people look for excellence, superficial characteristics fade into irrelevance.

“Most of us look for the best. We don’t care the color. We don’t care the sex, the faith. We look for the best. And that’s why capitalism is the best, because the best rise to the top.”

Christie Whaley, Liberty Toastmasters

Colorado’s Housing Market Challenges

Start listening at 59:16 – Hour 2

Karen Levine, whose RE/MAX team won the award for most transactions in metro Denver, reports that buyers are showing hesitation as interest rates creep above seven percent. The euphoria from November, when analysts predicted six Fed rate cuts, has given way to reality: zero cuts may come this year. Yet the American dream of homeownership persists. First-time buyers continue calling, understanding that building wealth through equity beats paying rent, even in a challenging market.

“The American dream is still out there. As much as we are trying to be sold the fact that we should own nothing and like it, that is not what the American people are going to buy into.”

Karen Levine, RE/MAX Realtor

Navigating Today’s Mortgage Landscape

Start listening at 70:30 – Hour 2

Lorne Levy explains how the Fed’s conflicting signals have rattled the mortgage market. While one arm of government prints money and sends it overseas, the Fed reins in liquidity by keeping rates high and halting purchases of mortgage-backed securities. Consumers are adjusting to seven percent rates the same way Levy adjusted to eight percent when he bought his first home in 2001. For those with equity, creative products like reverse second mortgages allow homeowners to access capital while keeping low first-mortgage rates.

“When rates first went to seven, people like, oh my god, it went from two to two and a half to seven. I’m not making a move. And then after a few months, they’re looking at each other being like: you think we can make it work at seven? And they decide to move.”

Lorne Levy, Mortgage Specialist

Cronyism vs. True Free Enterprise

Start listening at 95:10 – Hour 2

Kim Monson and Karen Levine distinguish between capitalism and cronyism, the latter occurring when big business and big government collude to squeeze out competition. The conversation turns to subsidized apartment buildings that Levine describes as ugly relics resembling communist architecture. Taxpayers fund rent subsidies that flow to politically connected developers while construction defect legislation makes it risky to build ownership housing. The result: Americans are pushed toward renting rather than owning.

“We need to make sure that we teach this distinction between capitalism and cronyism. Cronyism is when government and business get in bed together and use force and coercion.”

Karen Levine, RE/MAX Realtor