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.
Are these rights?
No one wants anyone to be sick, uneducated, unhoused, or hungry. But are they rights? And if they are, is the government to provide these things? I think that is exactly what Melissa Harris-Perry in this promotional video for MSNBC wants us to conclude. That government has the obligation to intervene in all aspects of life if it perceives injustice, or simply perceives something it doesn’t like. The government is filled with people who think like Ms. Harris-Perry of course.
“Hard working middle class families and small businesses all over America are being financially raped by this insidious system.”
The federal government has just decided that poverty for family of 4 in New York City means an income of up to $37,500, not $22,500. Quite a leap. As before, the figure excludes earned income tax credit cash checks from the government and also medical and other non-cash assistance.
In the article below, Amity Shlaes covers some of the overwhelming evidence that individual property rights are essential to economic prosperity.