TheDon
TheDon 15 Jul 2019
0
watermark logo

Up next

Does the Minimum Wage Prevent Poverty?
06 Aug 2019
Does the Minimum Wage Prevent Poverty?
TheDon · 36 Views

If You Hate Poverty, You Should Love Capitalism

6 Views
In PragerU

Did you know that since 1970, the percentage of humanity living in extreme poverty has fallen 80 percent? How did that happen? Arthur Brooks, president of the American Enterprise Institute, explains.
Donate today to PragerU! http://l.prageru.com/2ylo1Yt

Have you taken the pledge for school choice? Click here! https://www.schoolchoicenow.com

Joining PragerU is free! Sign up now to get all our videos as soon as they're released. http://prageru.com/signup

Download Pragerpedia on your iPhone or Android! Thousands of sources and facts at your fingertips.

iPhone: http://l.prageru.com/2dlsnbG
Android: http://l.prageru.com/2dlsS5e

Join Prager United to get new swag every quarter, exclusive early access to our videos, and an annual TownHall phone call with Dennis Prager! http://l.prageru.com/2c9n6ys

Join PragerU's text list to have these videos, free merchandise giveaways and breaking announcements sent directly to your phone! https://optin.mobiniti.com/prageru

Do you shop on Amazon? Click https://smile.amazon.com and a percentage of every Amazon purchase will be donated to PragerU. Same great products. Same low price. Shopping made meaningful.

VISIT PragerU! https://www.prageru.com

FOLLOW us!
Facebook: https://www.facebook.com/prageru
Twitter: https://twitter.com/prageru
Instagram: https://instagram.com/prageru/
PragerU is on Snapchat!

JOIN PragerFORCE!

For Students: http://l.prageru.com/29SgPaX
JOIN our Educators Network! http://l.prageru.com/2c8vsff

Script:

The next time you hear someone complain about capitalism, consider this: The percentage of people living at starvation level poverty has fallen 80% since 1970. Before then, more than one in four people around the world were living on a dollar a day or less. Today, it’s about one in twenty.

This is the greatest anti-poverty achievement in world history. So, how did this remarkable transformation come to pass? Was it the fabulous success of the United Nations? The generosity of U.S. foreign aid? The brilliant policies of the International Monetary Fund and World Bank? Stimulus spending? Government redistribution?

No. It was none of those things.

It was capitalism. Billions of souls around the world have been able to pull themselves out of poverty thanks to five incredible innovations: globalization, free trade, property rights, the rule of law, and entrepreneurship.

Globalization means the ever-increasing ability to move goods, people, and ideas from one distant location to another. Free trade is open access to markets and people from all over the world with few, if any, barriers. Property rights is ensuring that what belongs to you can’t be taken away on a whim by the state. The rule of law safeguards contracts, assuring that they will be respected and lived up to whether the deal is made in Peru or Poland. And entrepreneurship is the creativity of free people to dream up new products that we never knew we wanted or needed.

It’s worth noting that in places like East Asia, these five things were all made possible by the historic peace after World War II that resulted from America’s global diplomatic and military presence.

Let me put this in a slightly different way:

The ideals of free enterprise and global leadership, central to capitalism and American conservatism, are responsible for the greatest reduction in human misery since mankind began its long climb from the swamp to the stars. This remarkable progress has been America’s gift to the world.

So, if these American conservative ideals have done so much to lift up the world’s poor, you would think conservative ideas would be gaining strength every single day – everywhere. And not just gaining strength among conservatives, but also among young idealists, immigrants, minorities, and advocates for the poor—all embracing the principles of free enterprise and unleashing its power on behalf of the vulnerable.

But this hasn’t happened. To the contrary, capitalism is struggling to attract new followers. Indeed, some believe it’s destined to fade away – just as it has in much of Europe.

According to a Harvard Study, only 42% of young Americans 18 to 29 have a favorable view of capitalism. What explains this discrepancy between the incredible results of capitalism and its popularity? Why does capitalism get such bad rap?

One answer is simple: The defenders of free enterprise have done a terrible job of telling people how much good the system has done around the world. Capitalism has saved a couple billion people, and we have treated this miracle like a state secret.
According to a 2013 survey, 84 percent of Americans are unaware of the progress made against poverty worldwide. Indeed, more than two-thirds think global hunger has actually gotten worse.

For the complete script, visit https://www.prageru.com/videos/if-you-hate-poverty-you-should-love-capitalism

Show more
0 Comments sort Sort By

Facebook Comments

Up next

Does the Minimum Wage Prevent Poverty?
06 Aug 2019
Does the Minimum Wage Prevent Poverty?
TheDon · 36 Views