If we look across time, it is market-driven economic development that lifted billions of individuals out of poverty. And if we look across economic systems today, the capitalist economies are the ones that ensure the best outcomes for the poor. Individuals in non-capitalist countries would love the economic opportunities regularly offered to ordinary men and women in capitalist societies. Only in societies made rich by capitalism are food and clean water abundant; only in capitalist societies do the masses have the best access to affordable and effective health care. Such goods and services are widely available under capitalism because the spirit of profit motivates people to produce them.
Next post: Where Labor Goes
Previous post: Quotation of the Day…
