Improved Clinch

It's Not Really a Secret

"The answer is not foreign aid, which is corrupting and often worse than useless. In many cases, it actually further impoverished an already poor country. Enriched urban elites bought luxury goods, while donated food and socialist controls drove down the local price of food, ruining the farmers on whom these subsistence economies had depended.

We now know that the secret to curing hunger and poverty is capitalism and free trade. We have seen that demonstrated irrefutably in East Asia, which has experienced the greatest alleviation of poverty in the history of man. In half a century, places like Hong Kong, Taiwan and South Korea have gone from subsistence to First World status. And now free markets and free trade are lifting tens of millions of people out of poverty in India and China."

Charles Krauthammer in a column at Townhall.com titled “How times have changed."

Via PrestoPundit.

Posted by on 04/09 at 04:02 AM