Free enterprise the fairest system, key to ending poverty - Arthur Brooks AEI

May 18, 2012

"The (biggest) recipients of the blessings of free enterprise are the poor themselves. How do I know it?

"Go back to 1970, and compare 1970 around the world to today. It turns out that between 1970 and 2010 the worst poverty in the world - people who live on one dollar a day or less - has decreased by 80 percent. You never hear about that.

"It is the greatest achievement in human history, and you never hear about it.

"80 percent of the world's worst poverty has been eradicated (in 40 years.)

"That has never ever happened before.

"So what did that? What accounts for that?

"United Nations?

"US foreign aid?

"The International Monetary Fund?

"Central planning?


"It was globalization, free trade, the boom in international entrepreneurship. In short it was the free enterprise system, American style, which is our gift to the world.

"...I will assert and defend the statement that if you love the poor, if you are a good Samaritan you must stand for the free enterprise system, and you must defend it not just for ourselves but for people around the world.

"It is the best anti-poverty measure ever invented."

another view:

TOLLROADSnews 2012-05-18

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