January 4, 2017

Quote of the Day

It is growth from exchange-tested betterment, not compelled or voluntary charity, that solves the problem of poverty. ...Which do we want, a small one-time (though envy-and-anger-satisfying) extraction from the rich, or a free society of betterment, one that lifts up the poor by gigantic amounts? We had better focus directly on the equality that we actually want and can achieve, which is equality of social dignity and equality before the law. Liberal equality, as against the socialist equality of enforced redistribution, eliminates the worst of poverty. ...To borrow from the heroes of my youth, Marx and Engels: Working people of all countries unite! You have nothing to lose but stagnation! Demand exchange-tested betterment in a liberal society. Some dare call it capitalism. -- Deirdre McCloskey
Via an excellent FEE post from Dan Mitchell Quote of the Day Posted by John Kranz at January 4, 2017 11:41 AM

And some dare say that extraction from the rich is more fair.

Posted by: johngalt at January 4, 2017 12:18 PM | What do you think? [1]