Thursday, August 31, 2017

If you hate poverty, you should love capitalism

We all hear people complain about capitalism and they will use the words, "Capitalism is all about greed." That person may have I am the 99% t-shirt.
I will share some facts to that person and anyone who wants to listen.
The percentage of people that are living in a global poverty rate has gone done 80% since 1970.
Before the year of 1970, one in every four people were living on a dollar per day.
If you want some really fact, there are one in every twenty people that live on a dollar a day.
This is a great achievement in mankind. How did this happened.
Do you think that the United Nations had a great policy? Was it the great amount of money in US Aid to other countries? Did it came from the International Monetary Fund? The World Bank?
Did it came from Stimulus Spending? Or maybe a popular idea like Governmental Retribution?
They are all great guesses but they are all wrong. It was capitalism.
Billions of people have got out of poverty because of capitalism.
I will have a list of five items. They are Globalization, Free Trade, Property Rights, the Rule of Law and Entrepreneurship.
Globalization is the ever-increasing ability to move goods, people, and ideas from one distant land to another.
Free Trade open access to market and people from all over the world.
Property Rights ensuring that what belongs to you can't be taken away from the government.
The Rule of Law safeguards contracts assuring they will be respected and live up to whether if you live in Mexico or Europe.
Entrepreneurship the creativity of free people to dream up new products to improve people lives.
If you read history, East Asia accepted these ideas after World War Two. It is because United States Global Diplomatic and Military presence.
The ideals of Free Enterprise and global leadership, central to Capitalism and American Conservatism.  These ideas are the reason that people are living better.
The United States has blessed many people and nations.
If these American Conservative Ideas has done so well, why do the ideas are not growing in the younger generation, people of every countries, minorities, people that want to help the poor?
The person from another country can say, "Unleash the power." The person that wants to help the poor can say, "on behalf of the weak."
The true story is that Capitalism  is not picking up new followers. Many people think that Capitalism will fade in the United States like it has in Europe.
Harvard study has said that the people that are 18-29 has a 40% favorable view on Capitalism.
What explains the great gap between the great results of Capitalism and it popularity?
Why does Capitalism have became a "curse word"?
The defender of Capitalism has done a bad job explaining the greatness of this idea so the younger generation don't know the whole story. They don't share that it has saved many people from not dying from not having food.
There is an survey that 84% of the people in the United States don't know that fact of the great progress that Capitalism has done to help the world.
Two thirds have a thought that it has gotten worst and that is not true.
If you compare the results from Capitalism to Communism or Socialism, Capitalism has done better. 
We need a system that works while we are sleeping, foundation of human prosperity.
More Capitalism means more growth.
If you want to help the poor, promote Capitalism.
https://www.prageru.com/courses/economics/if-you-hate-poverty-you-should-love-capitalism
 
   

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