Sunday, June 25, 2006

Is Wealth The Problem?

Wealth in a corrupt society is often a badge of shame - wealth earned in a free society benefits all.

This is what Deng Xiaoping of China meant when he said "To get rich is glorious."

Deng knew the way to raise his entire nation out of poverty was for a merchant class to promote exchange. China is communist only as it represents a repressive one party powerful state - they are now decreasing world wide poverty -- as capitalists.

In contrast the USA is devouring its inheritance as it sinks into the socialism China is seeking to escape.

In which direction is the nation that you are living moving?

We often hear how the distance between the poor and the rich is expanding - it probably is. The key however is are the poor better off than they were before?

In China before Deng there were two classes - the privileged communist party members - and the poor. Today China has the poor, a spread from middle class to wealthy, and privileged party members. In many areas the poor are less poor than before - and all have profited from the increased opportunity for deciding how to live their own lives - and with a potential to become rich.

As free markets expand, what is regarded as poverty will also change. The poor of the USA would be regarded as at least middle class in much of the world and as wealthy in many areas. If they wish America's poor can change their position - although it may require many uncomfortable and unfamiliar actions.

China has given more choice to it's citizens in the financial area. Perhaps capitalism is unfair - but so is life. If the choices you are allowed to make won't effect your future - find another country.

"The inherent vice of capitalism is the unequal sharing of the blessings. The inherent blessing of socialism is the equal sharing of misery." - Winston Churchill


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