A great article! This really helps explain why Obama is the best leader. Capitalism works best when everyone contributes. Capitalism’s early success relied on strong government. It seized land from Native Americans and distribute it to whites, allowed for the importation of Black slaves to provide hundreds of years free labor, supported the recruitment of immigrants to provide new cheap labor when slave labor could not be delivered, and was passive in allowing women to enter the work force. Henry Ford realized no one could afford the cars produced and believed we need to ensure everyone had good jobs to buy cars. Obama fights for education, health care, and level playing field to ensure everyone can contribute and benefit from capitalism
Capitalism favors the rich. Socialism helps the poor. These are core beliefs of almost everybody on the left, including our president. Ah, but it turns out that this worldview is completely wrong.
Economists associated with the Fraser Institute and the Cato Institute have actually found a way to measure "economic freedom" and investigate what difference it makes in 141 countries around the world. This work has been in progress for several decades now and the evidence is stark. Economies that rely on private property, free markets and free trade, and avoid high taxes, regulation and inflation, grow more rapidly than...
The reason for this is simple: all the facts are on my side.