“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.

Also see...

Craig Newmark

Craig Newmark

Associate Professor of Economics, North Carolina State Univ.

Related Articles

17

Union Thug Whines That People Are Mistreating Union Thugs

FacebookTwitterEmail This one is hilarious. Union chief James P. Hoffa of the Teamsters has an op ed in the Detroit

24

Paradox: Green-Loving Washington State About to Penalize Electric Car Owners

FacebookTwitterEmail Some people think that marriage is the most absurd institution ever invented by man. But those that think so

0

Report: Middle Class Wages Plummet With Surging Illegal Immigration

FacebookTwitterEmail This should surprise no one, but a new report finds that as illegal immigration surges the middle class is

Share This

Share this post with your friends!