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 ...
Why don’t the poor nations trace the history and success of the G7 and try to emulate it?
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?
Come and get it, our 1% will be waiting for you on the beaches.
Love this bump!
Property rights.
Rule of law.
And your point is?
They exist in the US.
Not so much elsewhere.
Today, we need to fight to keep these rights in the US.
He’s french and an economist with the Carnegie endowment for World Peace - what do you expect ?
You really think we still have rule of law and property rights here in the USA? Wow how 1950’s of you.
Not to worry. Our big-eared halfrican "President" is hard at work creating that redistributionist bureaucracy. He just recess-appointed one of its leaders.
A chronic mental condition of the Socialist is zero sum. They can’t leave home without it.
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.
As they crumble over there, the U.S. gets blamed and they become OWS protestors.
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