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Are free markets good for the poor?
Posted: May 12, 2010
Walter E. Williams
Professor of Economics at George Mason University
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The market is a friend in another unappreciated way. In poor black neighborhoods, one might see some nice clothing, some nice food, some nice cars but no nice schools. Why not at least some nice schools? Clothing, food and cars are distributed by the market mechanism, while schools are distributed by the political mechanism.
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When Professor Williams writes, he usually nails it. Hits the mark here too.
A free marketplace is like an election of sorts. People vote with their “certificates of appreciation”.
It harnesses greed and enforces cooperation.
Trade makes everyone happy. Even if you can’t afford something, you get a motivating goal.
And, no force required.
It recognize and channels human nature into solving problems.
Sigh, it’s great for the poor.
Look at the “poor” here versus elsewhere. Seems to really put things in stark contrast.
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