Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

World Bank Economist Blames America For Its Wealth
IBD Editorials ^ | January 5, 2012 | Editor

Posted on 01/05/2012 5:26:13 PM PST by Kaslin

Wealth: A World Bank economist is trying to shame the U.S. for being home to one half of the world's richest people, the so-called 1%. In reality, it's the world that should be red-faced for not creating wealth as America does.

Bank chief economist Branko Milanovic has come out with a book called "The Haves and the Have Nots," whose purpose seems to be to argue there's something wrong about America having an outsized concentration of the world's wealth.

Implied in the argument is that America's wealth comes at someone else's expense, and the solution is to have a bureaucracy redistribute it more to his liking.

Milanovic writes of wealth as a "one-way street" and calls America a "wealth ghetto."

Subtext: The world's poor countries can't win.

Frankly, that's about as dim and pernicious a conclusion as that of an teacher who refuses to distinguish winners from losers based on performance.

(Excerpt) Read more at news.investors.com ...


TOPICS: Business/Economy; Editorial
KEYWORDS: milanovic; newtvideo; worldbank

1 posted on 01/05/2012 5:26:19 PM PST by Kaslin
[ Post Reply | Private Reply | View Replies]

To: Kaslin

Why don’t the poor nations trace the history and success of the G7 and try to emulate it?


2 posted on 01/05/2012 5:38:22 PM PST by himno hero (Obamas theme...Death to America...The crusaders will pay!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin
... not creating wealth as America does.

How many of the "Top 1%" actually create wealth, and how many just move wealth from one place to another and skim a few percents for themselves?

3 posted on 01/05/2012 5:38:58 PM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin
Free societies produce “Haves”. Restrictive societies produce “Have-nots”.
4 posted on 01/05/2012 5:47:58 PM PST by oyez
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

Come and get it, our 1% will be waiting for you on the beaches.


5 posted on 01/05/2012 5:49:14 PM PST by jpsb
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

Love this bump!


6 posted on 01/05/2012 5:49:32 PM PST by BunnySlippers (I LOVE BULL MARKETS . . .)
[ Post Reply | Private Reply | To 1 | View Replies]

To: jpsb

Property rights.
Rule of law.


7 posted on 01/05/2012 5:52:00 PM PST by Eric in the Ozarks (Gimme that old time fossil fuel.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Eric in the Ozarks

And your point is?


8 posted on 01/05/2012 5:56:51 PM PST by jpsb
[ Post Reply | Private Reply | To 7 | View Replies]

To: jpsb

They exist in the US.
Not so much elsewhere.

Today, we need to fight to keep these rights in the US.


9 posted on 01/05/2012 6:17:44 PM PST by Eric in the Ozarks (Gimme that old time fossil fuel.)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Kaslin
ghetto Branko??? i don't think that word means what you think it means...
10 posted on 01/05/2012 6:17:57 PM PST by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

He’s french and an economist with the Carnegie endowment for World Peace - what do you expect ?


11 posted on 01/05/2012 6:25:29 PM PST by Timocrat (Ingnorantia non excusat)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Eric in the Ozarks

You really think we still have rule of law and property rights here in the USA? Wow how 1950’s of you.


12 posted on 01/05/2012 6:27:15 PM PST by jpsb
[ Post Reply | Private Reply | To 9 | View Replies]

To: Kaslin
"Implied in the argument is that America's wealth comes at someone else's expense, and the solution is to have a bureaucracy redistribute it more to his liking.'

Not to worry. Our big-eared halfrican "President" is hard at work creating that redistributionist bureaucracy. He just recess-appointed one of its leaders.

13 posted on 01/05/2012 6:57:20 PM PST by Bernard Marx
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

A chronic mental condition of the Socialist is zero sum. They can’t leave home without it.


14 posted on 01/05/2012 7:28:47 PM PST by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

This is all about that age-old human emotion ... envy, and its leering, spiteful handmaiden, gossip. If I envy what you have, I need not pull myself up to your level. I can drag you down to mine.

The biggest impediment to a wealthy population is a corrupt government. We are seeing the leading edge of that here in America.


15 posted on 01/05/2012 8:38:40 PM PST by RobinOfKingston (The instinct toward liberalism is located in the part of the brain called the rectal lobe.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

As they crumble over there, the U.S. gets blamed and they become OWS protestors.


16 posted on 01/05/2012 10:39:03 PM PST by sheikdetailfeather ("Kick The Communists Out Of Your Govt. And Don't Accept Their Goodies"-Yuri Bezmenov-KGB Defector)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson