Saturday, November 27, 2004
Globalization Reducing World Poverty
If leftists have to choose between helping the downtrodden and anti-capitalism, I think they'll pick anti-capitalism. Obviously, they really don't think that globalization is a good thing. There are downsides. But overall, it is indeed a beneficial thing. And it is inevitable anyway.
If leftists have to choose between helping the downtrodden and anti-capitalism, I think they'll pick anti-capitalism. Obviously, they really don't think that globalization is a good thing. There are downsides. But overall, it is indeed a beneficial thing. And it is inevitable anyway.
What explains all this good news? The short answer is this thing we call globalization. Over the past decades, many nations have undertaken structural reforms to lower trade barriers, shore up property rights and free economic activity. International trade is surging. The poor nations that opened themselves up to trade, investment and those evil multinational corporations saw the sharpest poverty declines. Write this on your forehead: Free trade reduces world suffering.
