by Kevin “Coach” Collins
You will not see or hear a word about this in the American media. It doesn’t fit their narrative for the way things should be so it will be ignored.
The American Enterprise Institute has reported on a startling piece of good news. What the AEI is trumpeting is that the rate of $1.00 a day or less poverty in the world has fallen by 80% since 1970. This has to be causing Lyndon Johnson to roll over in his grave so fast his big rabbit ears are flapping wildly in his coffin.
Those who remember Ole Long Ears remember that he was going to “E-radicate pahvert-y” in our lifetime. Long Ears poured Trillions of our tax dollars into the pockets of America’s poor who were only too happy to take it. After decades of wasting our money on redistribution schemes the rate of poverty in America has essentially been unchanged. Of course poverty in America would be considered middle class in many countries, but the basic point remains: redistribution does not reduce poverty; free market economics does reduce poverty.
In 1970 when America began exporting free market ideas things in the world’s worse hell holes started to improve and the improvement has continued unabated ever since.
At that time the percentage of people around the world who are in the worst condition of poverty – living on a dollar a day or less – was 26.8%. After thirty six years (2006 is the latest year for these figures) that rate had plunged to an amazing 5.4%!
Think about that! Savor the meaning of that kind of a sharp drop in the misery of people all over the world. Free markets have brought people who had no hope at all of ever living comfortably a completely new lifestyle. American private interests not government agencies have settled the argument: Free markets can work economic magic even in the worse places on earth.
It was American style free enterprise systems not United Nations meddling, American foreign aid checks or Communist central planning programs that showed the way to really eradicating poverty. This American gift to the world will, of course, never be acknowledged by the ungrateful jealous hoards but it has nonetheless worked a miracle. It will never be reported by the anti-American socialists in our media, but the power of free enterprise cannot be denied.