Richard Werner

speaker

4,694 appearances 9 recordings 3 series first heard Jul 2025 last heard 22 May

Richard Werner’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 8 in all, peaking in Apr 2026 with 6.

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There was always the goal is given, but how you get there, the officer in the field had to decide.

Of course,

That meant that you had to train people better, but that's a good thing if you've got better trained people and they make the decisions.

That's the right motivation.

Then people are also motivated.

They know that they make a difference and their decisions will shape things and they can do the appropriate decisions.

Because in the fog of war, things change so quickly.

Central planning just cannot work.

Likewise, that was then applied in Prussia and in Germany in the economy through decentralized decision-making.

So not one central bank, but thousands of small banks, right?

lending to small firms, credit creation, money creation in the banking system.

For productive investment, for productive business investment, you get job creation, growth, and prosperity, and China did that.

And so this is the Chinese high-growth system, which Deng Xiaoping implemented.

And the rest is history.

40 years of high economic growth, lifting more people out of poverty than anywhere in history.

You know, 800 million people lifted out of, you know, according to the official definitions, lifted out of poverty.

This has never happened before in history.

In such a short time period, in one generation.

That's what China achieved using the Japanese model, which is essentially the German model of high growth.

And...

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