This is the title of a Yahoo News story.
And his wife makes $400,000 per year.
The economist offering this “solution” has been feted by the Obama White House economic staff, the International Monetary Fund, and by many of the people running world economies today. His ideas are definitely “in play.”
People often think that property rights benefit those with the most property the most. This isn’t true however. It is actually the poor who in terms of quality of life, benefit most.
More thoughts on the Pope and capitalism.
Capitalism (free markets and free prices) puts power in the hands of everyday people. Crony capitalism (a form of socialism) puts power in the hands of the privileged. The Pope appears to miss this very important point.
We spend a good amount of time arguing against the expansion of the state. We particularly don’t like it when the state and special interests, banks, other large industries, unions, etc, come together with the state. We argue that the state must be reduced in size to reduce the system of corruption we now are witness to.
Poland is raiding the accounts of retirees. Italy is likely to do the same soon. New Zealand and even Canada (according to the attached article) are seriously contemplating seizures of retirement assets. One would be foolish to assume that American leaders are not thinking along similar lines.
How much of that time will we be stuck with crony capitalism? Let’s get our economic and political act together.
Nothing, absolutely nothing, has raised more people out of abject poverty than free market capitalism. And I don’t mean a mixed system with some socialism and somewhat free markets here and there. I am talking about the real deal, where prices are free to move, free market CAPITALISM. This stands in direct conflict with what many of us have been taught of course.
Though the Lifeline program which provides phones to the poor free of charge has been around since 1985, the program has tripled in size in the past 4 years. One of the greatest corporate beneficiaries of the Lifeline program has been TracFone which gets nearly a quarter of the $2.2 billion in taxpayer dollars allocated. TracFone is owned by Carlos Slim, the richest man in the world.