From TIFWE.org
Isn’t it time we consider a paradigm shift in our approach to alleviating poverty? History shows there’s no better answer to the challenge of poverty than the free market. “No other system has so quickly and so globally lifted the poor out of poverty,” the late theologian Michael Novak wrote of capitalism.
Consider that a billion people have escaped extreme poverty since 1990, owing to the embrace of free markets. It’s no coincidence that this dramatic decline in poverty occurred as the Soviet Union’s Marxist-Leninist experiment imploded. Indeed, it is capitalism—not communism or socialism—that has lifted some 500 million people out of poverty in China in the past 30 years.
No government—no matter how benevolent or powerful—can meet all the needs and wants of all people. Consider the Soviet Union, Venezuela, and North Korea. These regimes have tried various forms of socialism. And they have failed to meet the basic needs of their people. But don’t take my word for it.
Read more: https://tifwe.org/human-flourishing-free-market/
Economic freedom is one of the most powerful forces for positive change a country can wield. I hope more people, especially young people, figure that out so we can keep the trend of poverty destruction going strong.
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