In 1975, Chile's infant mortality rate was 29% higher than Venezuela's.
By 2017, four times more infants died per 1,000 live births in Venezuela than in Chile.
Two countries, one lesson.
Between 1970 and 2017:
Chile:
Economic freedom: +123%
Income per capita: +204%
Venezuela:
Economic freedom: -64%
Income per capita: -42%
Full article: https://humanprogress.org/article.php?p=1923
Two countries, one lesson.
Between 1970 and 2017:
Chile
Economic freedom: +123%
Income per capita: +204%
Venezuela
Economic freedom: -64%
Income per capita: -42%
Full article: https://humanprogress.org/article.php?p=1923
Anti-capitalism is popular because people enjoy the feeling of uniting against a common enemy.
Many activists fail to realize that markets are the best way of fighting the systemic and material problems they so passionately decry.
Bill Maher worries that Americans don’t have enough money to eat.
In fact, almost all Americans can access a full day's recommended supply of calories for less than an hour of work on minimum wage.
"Capitalism" has become a scapegoat for all kinds of flawed institutions and the problems they cause.
However, many anti-market activists don't understand how hypocritical their criticisms can be.
"Capitalism" has become a scapegoat for all kinds of flawed institutions and the problems they cause.
However, many anti-market activists don't understand how hypocritical their criticisms can be.
"Capitalism" has become a scapegoat for all kinds of flawed institutions and the problems they cause.
However, many anti-market activists don't understand how hypocritical their criticisms can be.
Soviet propaganda could not increase the productivity of communist workers to Western levels.
To incentivize workers, communists had to resort to terror.
In the long run, free economies tend to produce higher growth.