"You might read that under capitalism “a small privileged few are rich beyond conscience, and almost all others are doomed to be poor at some level”. This is nonsense. Before capitalism, almost all were poor at some level. With capitalism, almost all are richer than the richest person before it. As someone said recently, when your worldview starts with ‘How do we limit the amount of rich people?’, you reach for socialism. When your worldview starts with ‘How do we limit the amount of poor people?’, you reach for capitalism.” - John PhelanAn excellent history lesson, capped off with 'Humankind’s Golden Age is now.' Read it all.
H/t: Cafe Hayek
