“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.

Trending Today
Craig Newmark

Craig Newmark

Associate Professor of Economics, North Carolina State Univ.

Related Articles

1

CNN Soft Peddles ‘Occupy’ Lawbreaking, Asks if Police Have ‘Sympathy’ With Occupiers

On November 30, CNN’s T. J. Holmes gave us a great example of how the Old Media is soft peddling

0

Wed in the Senate: Reid to Try and Force Cloture Votes on DREAM Act and Forced Unionization Act

-By Warner Todd Huston Call Your Senator Tell Them to Vote NO on DREAM Act and Forced Nationalized Unionization of

19

Cheap Popcorn At The Movie Theater: Your Next “Right?”

The last time I went to the movies, it cost more than $40 for two tickets, popcorn, soda, and some