Pronouncements of many ill-informed activists and leaders in the under-developed world seem to suggest that economic inequality in the world is one of the central reasons why it is acceptable to hate the West in general and the USA in particular. As with domestic economics, in international economics it is often wrongly assumed that the prosperity of the developed world is directly dependent on the poverty of the under-developed world. Thus, it is not unusual to hear some activists claim that "excessive" consumption in the developed world makes the under-developed world starve. But these two are totally unconnected. In the developed world, the level of consumption, for example, of foodstuffs and electricity, is proportionate to the level of its production of these items. On the other hand, the level of starvation in the underdeveloped world is proportionate to the level of its inability - mainly due to mismanagement - to produce much.Absolutely. People from the Cato Institute make a lot of compelling arguments.
Wednesday, March 12
Marian L. Tupy on anti-Americanism:
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