As the Rich Get Richer, the Poor Get Richer|5 Minute Video
The rich are getting richer, and the poor are … likewise getting richer. In this video, Daniel Hannan discusses why it is
commercialism– and commercialism alone– that has actually led to the unmatched
enrichment that is the main fact of Western life.
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Script:
” The rich are getting richer and the bad are getting poorer.”
” The leading one percent of individuals on the planet have half the wealth.”
” Western corporations are ransacking establishing nations.”
” Capitalism is on its last legs.”
Really?
The reality is that global inequality is toppling. Yes, the rich are getting richer– however the bad are getting richer quicker. And what’s driving that procedure? The marketplace.
Take a look at the most fundamental measures: Literacy. Longevity. Baby death. Calorie intake. Height. A growing number of people are being lifted out of poverty.
I think about the changes just in my life time.
When I was born, in 1971, an American employee needed to earn a month’s income to be able to manage a television set. Now, it’s 2 days.
In 1971, fewer than half of girls around the world completed at least primary education. Now, it’s more than 90 percent.
In 1971, a stationary car emitted more pollution than a car moving at full speed today.
Go a little more back. In the seventeenth century, the most effective male on the planet was Louis XIV of France. Every night, he ‘d have 40 dishes gotten ready for his supper, and he ‘d pick the one he felt like. Consider it: A receptionist today can stop off at a store on her way home and have not only a broader option than that king, however a fresher one and a much healthier one. We all live much better than Louis XIV.
What has caused that miracle? Not any UN development program. Not any federal government aid plan.
What triggered it was the market.
The most fast falls in poverty are occurring in nations that are joining the worldwide trading system. Compare development rates in free-trading Colombia and protectionist Venezuela; or in free-trading Vietnam and protectionist Laos; or in free-trading Bangladesh and protectionist Pakistan.
It’s the exact same story whenever.
Your people no longer have to work every hour simply to manage food and fundamental products. They have time to make and invent and buy and sell other things. Poverty falls.
OK, you may say, so possibly capitalism works; perhaps people are much better off. Doesn’t it make us more materialistic?
If by “greed” you mean a desire for product wealth, that’s part of the human condition. It’s in our DNA or, if you choose, it’s in our fallen nature. Under any system– socialism, communism, fascism, absolute monarchy, theocracy– individuals desire more things.
The unique quality of commercialism is that it structures the rewards so that the method to prosper– the method to be “greedy,” if you demand utilizing that vocabulary– is to provide a service to the people around you.
Under every other system, you get on by sucking up to those in power: commissars, or kings, or dictators.
Under a free market system, you get on by using consumers something they desire.
For the complete script, visit https://www.prageru.com/videos/rich-get-richer-poor-get-richer
source
The rich are getting richer, and the poor are … likewise getting richer. In this video, Daniel Hannan describes why it is
Joining PragerU is totally free! Sign up now to get all our videos as soon as they’re launched. Yes, the rich are getting richer– however the poor are getting richer much faster.
