“Johan Norberg began the decade of 2000-2010 cheering the ability of capitalism to cure global inequality in his book In Defence of Global Capitalism (2003) and ended the decade trying to explain why capitalism had gone so terribly wrong in his book The Financial Fiasco (2009).”

janetthomas

‘The world’s inequality is due to capitalism. Not to capitalism having made certain groups poor, but to its making its practitioners wealthy.’

Johan Norberg. Johan Norberg began the decade of 2000-2010 cheering the ability of capitalism to cure global inequality in his book In Defence of Global Capitalism (2003) and ended the decade trying to explain why capitalism had gone so terribly wrong in his book The Financial Fiasco (2009) . In the quote above he asserts that capitalism does not make people poor but makes people wealthy and this is the only cause of disparity in income inequality between people. It is the manifesto of laissez-faire capitalism that the ability to be able to earn money and keep it is fundamental to a human’s freedom. It is through the use of their own ingenuity and rationalism that human’s can thrive and buy property enabling them to establish wealth. Norberg…

View original post 2,303 more words

Advertisements