“An Audacious Promise: The Moral Case for Capitalism”


James R. Otteson:

Even if we do not all get rich at the same rate, we all still get richer. To see the importance of this point, ask yourself: If you could solve only one social ill–either inequality or poverty–which would it be? Or suppose that the only way to address poverty would be to allow inequality: Would you allow it? This seems a no-brainer: poverty is a far larger factor in human misery than is inequality. If we could have steadily fewer people suffering from grinding poverty, is that not something to wish for, even if it comes with inequality? This appears to be the position in which we find ourselves. The only way we have discovered to raise people out of poverty is the institutions of capitalism, and those institutions allow inequality. Keeping people in poverty seems too high a price to pay in the service of equality. One is tempted to say that only a person who has never experienced poverty could think differently.

Craig Newmark

Craig Newmark

Associate Professor of Economics, North Carolina State Univ.

Related Articles

10

Union Plan: ‘Forget About the Law, Brand Businesses as Human Right Violators’

Once again we see how lawless the Obama administration and its allies in unions are. By their own admission they

4

AFL-CIO Union Chief: We Need to Raise Taxes to Pay Union Members More

You know the old saying, “stupid is as stupid does”? Enter the AFL-CIO’s Richard Trumka, one of the most violence

14

Rep. Walsh Tells Obama to ‘Quit Lying’ About Soc. Sec.

Illinois Republican Representative Joe Walsh takes it hard to President Obama. Mr. Walsh says that Obama is lying and he