As the economic crisis in Venezuela deepens and inflation soars, Home Depot co-founder Ken Langone notes that socialism is no match for capitalism, especially when it comes to building self and net worth.
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“Socialism can’t come close to offering those opportunities,” he said during an appearance on FOX Business’ “The Intelligence Report” with Trish Regan. He also pointed out that some of his employees have moved on to become multi-millionaires.
Langone, a billionaire in his own right, was motivated to write his new book “I Love Capitalism! An American Story” to help “people understand that capitalism is not perfect, but it’s the best out there.”
Langone, along with Bernie Marcus and Arthur Blank, helped found The Home Depot which is now the world’s largest home-improvement retailer and has a market cap of about $230 billion.
“There’s nothing quite like a sense of self-worth and a sense of self respect,” he said adding, “In this country, we’re going to pay a terrible price by not understanding the personal price that people pay for not having a sense of accomplishment.”