Wednesday, October 19, 2022

Free market 2

 Re-post from 2015

All through human history, the natural state of the vast majority of people has been bare subsistence or poverty. So our biggest concern, the most pressing question, should be: how did some cultures manage to raise their standard of living to comparative wealth?

A single feature correlates to cultures that rise out of poverty - it's economic freedom. This photo of the Korean peninsula shows visually the economic difference between the controlled north and the generally free south. That black area between South Korea and China is North Korea at night. In the south, they have the prosperity to light up their dark hours.


South Korea has general economic freedom. But in North Korea, a "command" economy is controlled by a dictator. North Koreans as a people group are too poor to afford light at night.

Jay Richards' video in yesterday's post is so good - go back to yesterday and watch it if you haven't yet! He uses a beautiful story to demonstrate freedom in the marketplace - it results in more satisfaction, more happiness, more wealth,  for everyone. Including the lowest sectors.

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