As polling data shows that a large number of young Americans are embracing socialism, a former top Wall Street trader is making the biblical case for capitalism.
Charles Mizrahi, who was once crowned the No. 1 trader in the nation by Barron’s, explained his perspective on capitalism during an interview with The Christian Post.
As a speaker at the Democrat National Convention this month called for the destruction of capitalism, Mizrahi argues that the pretense that “capitalism is the cause of all of the problems that we’re having in the United States” is misguided.
“I couldn’t disagree with that stronger,” said the Orthodox Jew, who left his career on Wall Street behind. “Capitalism has put the United States as the envy of nations throughout the world … and the greatest nation that ever existed on this planet.”
Mizrahi, who now produces the newsletter Alpha Investor to show average Americans “how to invest” and has authored investing books, noted that capitalism can trace its roots back to the Old Testament.
For example, in Deuteronomy 15:11, God told the Israelites: “There will always be poor people in the land. Therefore I command you to be openhanded towards your fellow Israelites who are poor and needy in your land.”
Mizrahi contends that Deuteronomy 15 highlights how “the Bible … was very practical and understood the nature of people: that there will always be economic inequality.“
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SOURCE: Christian Post, Ryan Foley