Monday, September 3, 2018

On This Labor Day: The Miracle of Free Enterprise

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"Capitalism" is a word invented by Karl Marx to disparage free enterprise. I prefer "free enterprise." Regardless of word choice, capitalism is the greatest thing -- ever -- for world prosperity. Right now, there is less extreme poverty than any other time in the history of the world!

"Accordingly, the share of people in extreme poverty has decreased continuously over the course of the last two centuries. This is surely one of the most remarkable achievements of humankind."

The study is here.

Below is a graph of recent trends in the rate of absolute poverty during the last 200 years.
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And, things are getting better -- fast. Take a look at Bjorn Lomborg's graphics below that indicate what happens in a single 24-hour period. The upper left graph is life expectancy and upper right is where healthcare is improving the fastest.
This is important news that isn't reported by the MSM.

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