Wednesday, December 11, 2013

Pope Francis, Income Equality, Poverty, and Capitalism :: The Circle Bastiat

Pope Francis, Income Equality, Poverty, and Capitalism :: The Circle Bastiat: "The graph shows that the poorest 10 percent receive, on average, the same percentage of total income in more and less free market countries.  Where there is a major difference, however, is in the amount of income. If you are part of the poorest 10 percent, it does not matter if you live in one of the least free countries or in one of the freest countries, your group will receive about 2.6 % of total income. However, if you live in one of the less free countries you will have to live with 932USD per year, while doing so in a free country you will have an annual income of 10,556USD. This is not a minor detail."

"As can be seen, on average, the freest economies have a better distribution of income"

"The “poor” sector in the United States, for example, has an income above 60 % of the world’s population."

"the lower income quintiles are, on average, increasing their income at a higher pace than the higher quintiles"

"The freest countries on average have less child labor and lower levels of pollution. The third graph shows that the least free countries, on average, produce deforestation while freer, on average, are reforesting their lands."

"First, advocates of free market do not hold that such an economic system is perfect. But it does not help wealth creation and poverty reduction to promote market interventions with worse results than free markets because free markets are not perfect."

Is Justice Only for Those Defendants Who Can Pay for It? | Cato Institute

Is Justice Only for Those Defendants Who Can Pay for It? | Cato Institute: "Prosecutors “have a power that no other litigant has: the ability to reward witnesses for providing information or testimony by granting immunity from prosecution, dismissing or reducing charges, or informing sentencing judges of cooperation.”"