Rich & Poor Both Getting Richer

She writes that the anti-capitalism crowd claims to find support for this point of view in “seemingly authoritative sources, notably the 1999 United Nations Human Development Report.” But it’s a lie and is highly misleading, the way they twist the numbers. She quotes a Columbia University economist as saying, “When I started looking at the numbers, I saw a lot of mistakes. Some were departures from standard economic procedures, like not correcting for price levels from country to country. Some agencies didn’t adjust for the fact that Ethiopia is cheaper than the United States.”
What do we learn from this economist, a man of learning and not just of words? We learn that you cannot compare nations. You have to compare people. For example, the poor in China are getting richer faster than anywhere in the world – outside the United States. There is a gap between the rich and the poor, but it’s not getting wider because both groups are getting richer! The Democrats repeat this mantra to inspire resentment among the poor and get them to vote to steal money legally from all Americans, but it’s a bunch of bunk.
This gap between the rich and the poor is a myth. The only country where this UN Report found the poor actually getting poorer is Nigeria. That nation’s economy has shrunk and its poverty has skyrocketed. Was this due to too much laizez-faire capitalism? No! The problem is corruption and too little freedom. Again: the problem is not an unequal distribution of resources. It’s an unequal distribution of capitalism! Even the limited amount of capitalism in China is trickling down to the people. It works, folks, and if the Noam Chomskys of the world really want to help instead of just complaining and stating the obvious, they’ll get on board.

Read A Classic Rush Expose on World Poverty…
<a target=new href=”//home/folder/may_2_worlds_hell_holes.member.html”>(EIB Essential Stack of Stuff: Capitalism Will Save the World’s Hell Holes)</a>