Another Socialist Hellhole: Armed Gangs Are Taking Over Hospitals in Venezuela

Funny, the statists always warn that without big intrusive government societies go haywire. But we have seen over and over and over that this is simply not true. In fact where government has a light hand and the rule of law upheld the typical result is prosperity.

However what we also see over and over and over is that countries that embrace big government have a tendency over time to turn into hellholes. The Soviet Union,

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Why are Our Urban Areas so Dysfunctional? Truth is Some Politicians Want Their Constituents Trapped in Poverty

As we said in a recent video, there are many reasons why much of urban America is an economic wasteland. We site 2 main reasons however, big government, and cronyism.

Cities are often not very good places to do business. They are typically high tax high regulation zones. Cities often look at businesses as little more than revenue streams. And what can’t be extracted from business via taxes can be regulated out of businesses with laws.

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US law professor exposes system that makes a profit from poverty

Consider that one of the classic forms of “welfare” in this country is also absolutely a form of corporate welfare too – food stamps. Many big corporations owe a large part of their bottom lines to these programs. In some places one can even buy McDonalds and other fast food directly with EBT cards. Years ago we did a story on how JPMorgan has EBT servicing contracts with states worth hundreds of millions of dollars.

Add in Walmart and other discount stores that see immense flows from government programs and one begins to see the picture.

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End crony capitalism to end global poverty

If we ended crony capitalism (a good goal, but it likely it can only be reduced – but perhaps drastically) it would indeed help the plight of the global poor. Countries which are poor are always rife with cronyism. The established powers that be, which control the government, loot the rest of the country. It is the natural tendency of humanity, but this natural tendency must be fought. If we want broad prosperity cronies must be brought to heel and hiding places for cronies eliminated.

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What CEOs Should Be Saying About Inequality

Is inequality bad? It is assumed that it is for some reason. And to the degree that it is caused by the already powerful gaming the system it is absolutely a problem and one we examine closely here. (That the big banks have access to the Fed window and that the Fed backstops the bankers is a good example of unjust inequality of wealth.) But what of an inventor who made the world a better place? Should a person or company who cures cancer for instance feel bad in any way about the vast sums which would likely follow such a cure?

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Congress is about to vote on what Rand Paul calls “the biggest anti-poverty initiative” in 50 years

All I can say is we made the case for making Detroit an economic “free zone” back in October 2012. Not that “free zones” are our idea. Free market/price advocates have made the case for them for years. It’s good to see the idea getting some real political traction.

Free up places which are disasters. Make them business friendly. Lower or eliminate taxes. Let people innovate. Many of our cities have little to lose at this point. Other than a rigid fear of free markets why wouldn’t one want free zones in areas of economic despair?

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A good idea: City allows people to pay off parking tickets with food donations

I despise parking tickets primarily because they are such a racket. Washington DC, the major city in which I drive regularly collects tens of millions of dollars in parking ticket fines each year. If one visits DC keep an eye out for the folks in the red jackets. They’ll answer your questions and give you directions but they are also patrolling the streets looking to fine drivers.

I’ll grant you that there are legitimate reasons for parking tickets.

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If Sweden and Germany Became US States, They Would be Among the Poorest

Sweden isn’t some sort of Shangri la. It’s cold. It’s dark. It has high rates of depression. Economic freedom levels are low. Taxes are high. And relative to most states in the USA Sweden is poor. Like Arkansas poor.

On the other hand it made Saabs, which I always liked. (Before GM took them over.)

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For the first time in human history, “less than 10 percent of the world’s population will be living in extreme poverty by the end of 2015.”

This is wonderful news and it is driven by a general tendency to liberalize markets. Resources now flow from one place to the next more easily than they ever have. As such entrepreneurs are more able to create wealth even in some of the most challenged parts of the globe. Freedom works. Liberty works. Economic decentralization works. Where allowed to flourish without undue burden the market makes life generally better. Where the market is largely restricted poverty continues to prevail.

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If Pope Francis Wants to Help the Poor, He Should Embrace Capitalism

As we have said before, many times, we are against crony capitalism and for capitalism not because “we just want to keep what’s ours.” Not because we feel some slavish devotion to an ethos of greed. (As some might call self interest.)  But because the voluntary exchange of goods and services, capitalism, is the economic vehicle which raises more out of poverty and provides the most opportunity for everyday people. Where one can do business without the government or the local lord or mafia boss taking all the profits people can build wealth.

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World’s Poor: “We Want Capitalism”

The way out of poverty is through capitalism, free enterprise, free markets, and free prices. But so many people who I believe honestly want to do good do not understand this. They believe that central planning and aid from “rich countries” will solve the world’s problems even though they have only worsened things in aggregate around the world for decades.

Where poor people can build wealth and enjoy property rights and honest pricing the tendency is toward prosperity.

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