World Economy

Thomas Sowell writes a perfect column concerning the "new" news about how all the worlds wealth is sitting in democratic, capitalistic, western societies. doh. "All you have to do is change people"

Nobody likes to see poverty in a world where technology and economic know-how already exist that could give everyone everywhere a decent standard of living.

All you have to do is change people. But have you ever tried to do that?

The quick fix is to transfer wealth. But more than half a century of trying to do that with "foreign aid" has left a dismal record of failure and even retrogression in Third World countries.

Some countries have themselves made changes that lifted them from poverty to prosperity. Indeed, the affluent countries of today were once living in poverty.

But they didn't do it with quick fixes or by turning a dangerous power over to politicians.

The Economy

Tim Blair links to a story in "The Australian" discovering a new force of nature similar to the 'Al Gore Effect'. (the one where temperatures drop every time Al speaks of global warming) This one has the economy improving whenever a leftist says that reducing government spending will cause the economy to collapse.
I'm just amazed such a story was allowed in a newspaper. You'll never see it here.

Democracies, Capitalism, Cash

The Environmental Republican writes what I was thinking regarding the big news that most of the world's wealth resides in North America, Western Europe and some Asian countries. hmmmmmm........is there a connection? Scott is shocked but manages to find a link:

Those of us in countries that support capitalism and hard work are making more money than those that don't. I know, it's a shocka but it's true

In other news today, Thomas Sowell manages to smack down Hollywood's anticorporate attitude in one column.

The real comparison is not between what people are paid in Third World countries compared to what people are paid in the United States. The comparison that affects outcomes is what Third World people are paid by multinational corporations compared to what they can earn otherwise. By and large, multinational corporations pay about double the local pay in Third World countries.

But don't worry, this is the same Hollywood that puts out movies about how badly we treat out own too.

So to be clear, it's not good that capitalistic democracies have so much money compared to other places. It's not good that we export our capitalistic ways to those other places because it takes advantage of them. And it's not good that we export our capitalistic ways to those other places because is screws our own, who though richer than those other people, are still poor.