Free Markets Can Free Africa | 5-Minute Videos | PragerU
August 25, 2025
924,612
1,301
254
0.17%
Search the Record
IndexedEvery word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
Prageru Episodes Around August 25, 2025
See what was published immediately before and after this episode.
5:38Now PlayingFree Markets Can Free Africa | 5-Minute Videos | PragerU
YouTube Description
as posted by the channelWhy is Africa poor? Is it because of its colonial past or is it because of present-day policies? Senegalese-American entrepreneur and philanthropist Magatte Wade answers these questions, and offers a new path for a brighter, more prosperous future for the continent.
š² Watch our content adfree on our app
Donate to PragerU
Follow PragerU:
Instagram ā”ļø ()
Facebook ā”ļø ()
TikTok ā”ļø ()
Transcript:
Free Markets Can Free Africa
Presented by Magatte Wade
Is colonialism the source of poverty in Africa?
The answer to that question is a resoundingā¦
No!
If you think it is, put the idea out of your head.
Itās a falsehood.
So, what is the source of Africaās problems, you might ask?
Thatās another easy one to answer.
Most people in Africa donāt have enough money.
And why is that?
(Such easy questions!)
Because they donāt have jobs.
And why donāt they have jobs?
Because they donāt have capitalism and free markets.
They donāt have enough entrepreneurs.
Entrepreneurs create jobs.
Free markets allow them to do so.
This should be obvious.
Sadly, itās not.
Instead people ā you may be one of them ā are blinded by ignorance ā ignorance about how the world works not just in Africa but everywhere and for all time.
In the 1950ās, Singapore was a swamp with zero natural resources.
No minerals.
No precious metals.
No oil.
Today its income per capita is twice that of the United Kingdom.
What created Singaporeās wealth?
Capitalism!
The free market!
And the property rights and business friendly environment that go along with it.
In the 1990s Dubai was a patch of bleached sand.
Now, itās one of the great financial centers in the world.
Why?
Capitalism. Free markets. Light regulation.
The strongest economy in Africa right now is a country that youāve never heard of: Mauritius.
One of the fastest-growing economies is Rwanda.
They have both embraced free market ideas and encouraged local entrepreneurs by making it easy for them to start businesses.
News flash: only one economic system lifts people out of poverty.
Capitalism.
Hereās the topper.
It works every time!
And one economic system guarantees people will be poor.
Socialism.
Venezuela was once the wealthiest country in South America. Socialists took over and turned it into a basket case.
Guess which continent has been overrun with socialism.
Answer: the poorest ā Africa.
...access the full transcript here š
Guests & Subjects Covered
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.