Curing poverty

Dr. Sowell takes note of a new book by Harford that says China is lifting a million people a month out of poverty. He asks ‘how can that be?’ and takes a look at what is needed.

The only thing that can cure poverty is wealth. The Chinese acquired wealth the old-fashioned way: They created it.

It is capitalism at work. It is a contrast to the many governmental programs and tax ideas that are proposed to solve poverty by edict. Dr. Sowell notes the success of such efforts, too.

When it comes to lifting people out of poverty, redistribution of income and wealth has a much poorer and more spotty track record than the creation of wealth. In some places, such as Zimbabwe today, attempts at a redistribution of wealth have turned out to be a redistribution of poverty.

The key ideas are that wealth is created by people, that efforts to create wealth come from within, and that people can control and change their circumstances for the better.

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