“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

1

Your Taxes Paying Government Union Members NOT to Work, Part Two

FacebookTwitterEmail At a hearing on Capitol Hill Wednesday, it was revealed that federal employees spent nearly 3 million hours of

0

PacSun Displays Upside-Down American Flag T-Shirt and Sparks Viral Outrage [Video]

Facebook1.1kTwitter7Email1 Well, PacSun really stepped in it this time. I wonder who the braintrust was that decided putting a t-shirt

12

The Hate From The Occupy-Whatever Left

FacebookTwitterEmail The left is built on pure hate. Hate for patriotism, hate for the Constitution, hate for our troops, hate

Share This

Share this post with your friends!