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Capitalism and Free-Markets

CNBC host and former Reagan economic adviser Lawrence Kudlow takes on Bill Gates' recent “clarion call for a ‘kinder capitalism’ to aid the world’s poor.” Kudlow writes at RealClearPolitics:

“For all his do-good preaching, Gates is ignoring the global spread of free-market capitalism that has successfully lifted hundreds of millions of people out of poverty and into the middle class over the last decade. Think China. Think India. Think Eastern Europe. (Maybe even think France under Nicolas Sarkozy.) Gates wants business leaders to dedicate more time to fighting poverty. But the reality is that economic freedom is the best path to prosperity. Period.”

And from an essay providing an "intellectual defense of liberty" in the October 2007 issue of The Freeman, economist Walter E. Williams writes”

“It is not broadly appreciated that the greater wealth produced by free markets itself contributes to a more civilized society and civilized relationships. For most of man’s existence, he has had to spend most of his time simply eking out a living. In pre-industrial society, and in many places today, the most optimistic scenario for the ordinary citizen was obtaining enough to meet his physical needs for another day.With the rise of capitalism and the concomitant rise in human productivity that yielded seemingly ceaseless economic progress, it was no longer necessary for man to spend his entire day simply providing for minimum physical needs. People were able to satisfy their physical needs with less and less time. This made it possible for them to have the time and other resources to develop spiritually and culturally.”

What has so many Americans calling for “change” and thinking that more government is the answer?


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