“An Audacious Promise: The Moral Case for Capitalism”


James R. Otteson:

Even if we do not all get rich at the same rate, we all still get richer. To see the importance of this point, ask yourself: If you could solve only one social ill–either inequality or poverty–which would it be? Or suppose that the only way to address poverty would be to allow inequality: Would you allow it? This seems a no-brainer: poverty is a far larger factor in human misery than is inequality. If we could have steadily fewer people suffering from grinding poverty, is that not something to wish for, even if it comes with inequality? This appears to be the position in which we find ourselves. The only way we have discovered to raise people out of poverty is the institutions of capitalism, and those institutions allow inequality. Keeping people in poverty seems too high a price to pay in the service of equality. One is tempted to say that only a person who has never experienced poverty could think differently.

Craig Newmark

Associate Professor of Economics, North Carolina State Univ.

Related Articles

0

Commie Pope Calls Capitalism “Dung of the Devil”

Pope Francis, the Christianic Marxist, quoted a fourth century bishop and called the unfettered pursuit of money “the dung of

0

Starbucks: You’re Racist, America! CEO Pushing Baristas to Harass Customers Over Racism

The corporate bosses at Starbucks have now decided that, along with your Triple, Venti, Latte, you must also get sage

0

The University of Chicago Needs Some Occupy Wall Street

If you’ll recall, the brief but noisy Occupy Wall street movement was all about protesting the “One Percent,” those evil

comments

Share This

Share this post with your friends!