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Interesting … I didn’t realize that Christianity required a “market economy underpinned by the rule of law.” That’s a pretty big stretch from Genesis.
I have to say though, Scott was really dancing when it came to wealth creation, market economy and lifting out of poverty. If he’s right, 100 years of market economy in the US must mean that poverty is eradicated, right? Wrong. It’s either stayed the same or gotten worse, according to the Census Bureau.
The fact is, the market economy doesn’t care who obtains the wealth that is created, only that wealth is created. We also know that in America wealth is gradually moving from the poorest towards the richest and accumulating there. So no, just a market economy doesn’t lift from poverty. Regulation, government assistance and education do.
I wonder … what is the American government terrible at these days?