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It’s Economic Growth, Not Redistribution, that Lifts Everyone, Including the Poor

Captain-Jeff Wrote: Nov 16, 2012 1:52 PM
Because Joe Sixpack doesn't care about any boats but his own, and he wants you to pay for his so he doesn't have to work. Peter paints a rosy picture, but our government can screw up anything, including the future.

Stephen Moore and Julian L. Simon note in their underappreciated work, It’s Getting Better All the Time: 100 Greatest Trends of the Last 100 Years, that in the last century,1900 to 2000, real per capita GDP in America grew by nearly 7 times, meaning the American standard of living grew by that much as well. The authors explain,

“It is hard for us to imagine, for example, that in 1900 less than one in five homes had running water, flush toilets, a vacuum cleaner, or gas or electric heat. As of 1950 fewer than 20 percent of homes had air conditioning,...