There is nothing wrong with not understanding economics. Unless of course, you pretend to understand.
Capitalism, voluntary free exchange has helped more people out of poverty than every government of history put together. Pope Francis, Obama, Bernie, Hillary, and all other progressive illiberal socialists who love to bash free enterprise do so in my opinion because they are lazy, ignorant, and/or ideological. There is nothing honorable about taking other people’s property. Nothing.
“Commerce [and] entrepreneurial capitalism take more people out of poverty than aid.” – U2 star and philanthropist Bono told a Georgetown University crowd in 2013.
He is right, and the indisputable facts back him up. Believing governments get people out of poverty is to ignore history. By definition, governments, the state, suppress economic freedom and liberty.
Regarding world poverty, Arthur Brooks points out:
“It turns out that between 1970 and 2010 the worst poverty in the world – people who live on one dollar a day or less –has decreased by 80 percent (see chart). It’s the greatest achievement in human history, and you never hear about it. 80 percent of the world’s worst poverty has been eradicated in less than 40 years. That has never, ever happened before.
So what did that? What accounts for that? United Nations? US foreign aid? The International Monetary Fund? Central planning? No. It was globalization, free trade, the boom in international entrepreneurship. In short, it was the free enterprise system, American style, which is our gift to the world.
I will state, assert and defend the statement that if you love the poor, if you are a good Samaritan, you must stand for the free enterprise system, and you must defend it, not just for ourselves but for people around the world. It is the best anti-poverty measure ever invented.”
If you are a Good Samaritan, economically literate, and intellectually honest, you recognize the best way to help the poor is to encourage and praise free enterprise, capitalism, and entrepreneurship, free from tyrannical government control.
This is how you better the lives of the poor, and this is not a theory.
Full article here: http://www.aei.org/publication/chart-of-the-greatest-and-most-remarkable-achievement-in-human-history-thanks-to-free-market-capitalism/?utm_source=facebook&utm_medium=social&utm_campaign=perrychartfreemarket